All IPE articles in September 2003 (Online) – Page 9
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News
UK trade unions call for FRS17 review
UK – The main trade union body in the UK has called for a review of the pensions accounting standard FRS17.
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Swedish government fires AP3 chairman Bjorkman
SWEDEN – Johan Bjorkman, chairman of Sweden’s third national pension fund, Tredje AP-fonden or AP3, has been fired by the Swedish government.
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Schroders sees E3.6bn in institutional outflows
UK – Schroders saw net institutional outflows of 2.5 billion pounds (3.6 billion euros) in the first half of 2003, mostly due to the shift from balanced to specialist mandates.
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BBH's UK investor services chief leaves
UK – David Bilbé, managing director of UK investor services at Brown Brothers Harriman, has joined Thomson Financial as commercial director, Europe - a new role.
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UBS the world’s largest asset manager – Watson
GLOBAL – UBS has been named as the largest asset manager in the world in a survey of the top 500 fund managers.
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PGGM names Prins as public affairs director
NETHERLANDS – The 48 billion-euro Dutch healthcare pension fund PGGM has hired Frans Prins as its public affairs director.
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BT pension scheme “trapped by actuarial method”
UK – The 48.8 billion-euro BT Pension Scheme is trapped by its own actuarial valuation method, says pensions consultant John Ralfe.
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M&G hires NIB investment chief van Gelderen
NETHERLANDS – Prudential M&G is making a push into the Dutch pensions market, with the appointment of Eduard van Gelderen as director of fixed income.
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IPE ranks Europe’s top 1,000 pension funds
EUROPE – Pension fund assets in Europe have grown by 500 million euros in the past year, according to the Investment & Pensions Europe’s new listing of the top 1,000 European pension funds.
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UK’s SWIP names Phillips as chief executive
UK – Scottish Widows Investment Partnership, or SWIP, has appointed Chris Phillips as chief executive.
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Edinburgh Fund Managers “close to sale”
UK – Edinburgh Fund Managers is believed to be nearing an agreement regarding its sale.
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Germany’s Ruerup panel makes “realistic” proposals
GERMANY – The Ruerup Commission has suggested raising the retirement age and cutting pension payments in what it termed a set of “realistic and practicable” proposals.
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Towers sees 4% rise in European pension funding
EUROPE – Consulting firm Towers Perrin says rising equity markets have resulted in a four percent rise in the funded status of defined benefit pension plans in the euro-zone in the second quarter.
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PGGM spends E30m to hedge against inflation
NETHERLANDS – The 48 billion-euro Dutch healthcare pension fund PGGM has spent 30 million euros to hedge its pension commitments against inflation.
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AP2 plans “manager of managers” role
SWEDEN – The second Swedish national pension fund AP2 says its strategy is to make use external managers’ expertise and become a “manager of managers”.
