All IPE articles in September 2004 (Online) – Page 6
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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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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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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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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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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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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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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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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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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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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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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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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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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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PVK consults on funding calculation
NETHERLANDS - The Dutch pension regulator, the PVK, has raised the possibility of raising the minimum funding level to 130% in a consultation document.
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Swiss pension fund control up for debate
SWITZERLAND - The Swiss Pension Funds Association, ASIP, has called for the launch of special quality standards for autonomous pension schemes “in the interest of long-term financing security”.
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Jobs safe as State Street exits German KAG biz
GERMANY - State Street Global Advisors is to exit the German KAG investment trust business, citing regulatory changes, to focus on asset management.
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Nordea names German institutional sales head
GERMANY - Nordea Investment Management says it has named Jan Albers as director of institutional sales for Germany.
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Ex-Citigroup retail exec named as Fortis CEO
EUROPE – Fortis has named a former top retail executive at Citigroup, Jean-Paul Votron, to replace Anton van Rossum as chief executive.
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State Street loses as Folksam changes custodian
SWEDEN - State Street, SEB Securities Services and Foreningssparbanken have lost custody mandates with Folksam Insurance.
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Global pension funds eye bonds - Watson’s Urwin
GLOBAL – Roger Urwin, global head of investment consulting at Watson Wyatt, says more pension funds globally are now more inclined to consider diversifying into bonds and alternative assets.
