All IPE articles in September 2004 (Online) – Page 4
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EU’s McCreevy eyes asset management legislation
EUROPE – Charlie McCreevy, the European Commission’s incoming internal markets chief, says “targeted legislative action” in asset management and other areas may be appropriate.
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Italian asset manager Arca gets Fitch boost
ITALY- Arca SGR, the asset management arm of a group of banks, has become the second company in Italy to receive an ‘AM2’ asset management rating by Fitch.
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Kodak pension scheme gets property boost
UK – The one-billion-pound (1.46 billion-euro) Kodak Ltd. Pension Plan has seen the real-estate assets in its joint venture with property firm Halladale almost double in a year, according to company documents.
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UK told pensions compulsion not the answer
UK – The UK government has been told by left-of-centre think tank the Fabian Society that compulsion is not the answer to the current problems in the pensions industry.
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PME licences Mcube portfolio software
NETHERLANDS - PME, the 14 billion-euro pension fund for metal workers, has licensed portfolio decision software called AlphaEngine from Mcube Investment Technologies, according to an Mcube release.
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Rato warns Spain to keep eye on public pensions
SPAIN - Rodrigo Rato, the head of the International Monetary Fund and former Spanish finance minister, has warned the Spanish government to keep an eye on the public pension system.
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Deutsche names European real estate research head
EUROPE – Deutsche Bank’s real estate arm has named Peter Hobbs as head of European real estate research.
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Ireland amends civil service early retirement
IRELAND – The Irish government has introduced what it calls “cost-neutral” early retirement for civil servants.
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Poland launches individual retirement accounts
POLAND - Poland's latest pensions product, the individual retirement account, IKE in Polish, was launched on September 1.
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Citigroup loses AP1 custody to ABN Amro Mellon
SWEDEN - Första AP-Fonden, the First Swedish National Pension Fund or AP1, has awarded a 148 billion-crown (16 billion-euro) global custody brief to ABN Amro Mellon, resulting in a loss for Citigroup, which had held the mandate for 10 years.
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IPE-QUEST: Danish funds tender at least E140m
DENMARK – Two Danish pension funds have tendered at least 70 million euros each in global equities via IPE-Quest.
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BaFIN emphasises safety in hedge guidelines
GERMANY - Financial regulator BaFIN has emphasised the need for security in new guidelines on how pension funds and insurance companies should invest in hedge funds.
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This week’s UK pension fund disclosures
UK – The following are UK pension funds’ holdings in companies that have been disclosed this week under the Financial Services Authority’s stock market listing rules.
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Uproar as Dutch pension plans leaked
NETHERLANDS – There is uproar over a leak of the forthcoming budget which has revealed that the government is looking at possibly raising the retirement age to 67.
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Robeco seeking CIO as Vriezen quits
NETHERLANDS – Marnix Vriezen, chief investment officer of Robeco for just over a year, has left the company amid a management shakeout by new chief executive George Möller.
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EU launches consultation on shareholder rights
EUROPE – The European Commission is seeking feedback from institutional investors as it puts together a proposed directive on corporate governance.
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Warning over pension move into long-term bonds
GLOBAL – Pension funds have been warned that even a modest reallocation of assets into longer-term securities as they seek to match their liabilities could “overwhelm” the market.
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Alitalia cuts pensions amid crisis - union
ITALY - Alitalia, the troubled Italian airline, has almost halved its annual contribution to its staff pension schemes in a bid to “get away from the quicksand”, a union official says.
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IPE-QUEST: UK fund tenders unconstrained brief
UK - A UK pension fund has tendered an unconstrained mandate worth up to 80 million pounds (117.9 million euros) via IPE-Quest.
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Aegon denies Fortis pension outsourcing claim
NETHERLANDS – Aegon Nederland has denied a claim by Fortis Investments that it has opted for the latter’s products as part of a pensions outsourcing move.
