All IPE articles in September 2004 (Online) – Page 7
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News
Asset management back-office deals set to grow
EUROPE – The market for outsourcing back office functions in the European asset management industry will reach 758 million dollars (622.5 million euros) by 2006, says Datamonitor.
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Pension fund management needs “paradigm shift”
GLOBAL – Keith Ambachtsheer, the head of KPA Advisory Services, has called for a “paradigm shift” in pension fund management.
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Aon enters Swedish pension consulting market
SWEDEN – Aon Consulting says it has entered the Swedish pension consulting market – aiming to become market leader by 2007.
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ABP equities chief Straatman gains fixed income
NETHERLANDS – ABP Investments, the asset management arm of Europe’s largest pension fund, has rotated the responsibilities of its board of directors – with equities chief Jan Straatman also gaining responsibility for fixed income.
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Rapid asset ‘churn’ seen harming hedge industry
GLOBAL – The rapid switching of assets in and out of hedge funds could blow the industry away, says industry veteran Michael Goldman, one of the founders of fund of hedge fund firm Momentum, now part of Pioneer Investments.
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Credit Agricole AM in E12bn asset boost
FRANCE – Assets under management at Credit Agricole‘s asset management business rose by 12 billion euros in the fist half – boosted by institutional and corporate inflows.
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UK firms “trying to keep final salary schemes”
UK – Companies are making efforts to keep their final salary pension schemes open, according to a survey from Mercer Human Resource Consulting.
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Austria unveils new harmonisation proposals
AUSTRIA - The governing coalition’s long-awaited draft on pension harmonisation envisages the application of the new rules to under 50-years old workers rather than 55 years olds as so far suggested.
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Spain’s Zapatero signals confidence in PAYG
SPAIN - The Spanish prime minister, José Luis Zapatero, has announced an increase in state pension payments in a sign of his confidence in the public pay-as-you-go system.
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Specialist management surges – Watson Wyatt
GLOBAL – New research from consulting firm Watson Wyatt had found that specialist asset managers have grown strongly - with UK firms seeing growth of up to 96%.
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OPF: pre-pension plans to hit economy, markets
NETHERLANDS – The OPF, the Dutch Association of Company Pension Funds, has launched an attack on the government’s latest pre-pension proposals, saying they could hit the economy, destabilise markets and have an unclear social impact.
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UK’s RBS hires consultants for European pensions
UK – The Royal Bank of Scotland has hired consultants from Mercer Investment Consulting and Milliman UK to boost its UK and European Insurance and Pensions Group.
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Schroders Benelux MD van Daalen leaves
BENELUX – Pieter van Daalen, managing director of Schroders Investment Management Benelux, has left the company.
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Smith resigns as UK pensions minister
UK – Andrew Smith unexpectedly resigned as Secretary of State for Work and Pensions last night, saying he wanted to spend more time with his family and his constituents.
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Hewitt develops new Irish pension fund index
IRELAND – Hewitt Associates’ Irish arm Hewitt & Becketts says it has developed a new index to evaluate the performance of managed pension funds in Ireland.
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IPE-QUEST: Belgian insurer tenders E100m
BELGIUM - A Belgian insurance company has tendered up to 100 million euros via IPE-Quest.
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IPE-QUEST: German fund tenders global equities
GERMANY- Swiss Consultant Kottmann Advisory is looking for a manager for an actively managed growth oriented large-cap global equity brief on behalf of a German pension fund.
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Swedish county pension head joins T. Rowe
SWEDEN - T. Rowe Price Global Investment Services has recruited the head of 850 million-crown (93 million-euro) Gävleborg County Council pension fund for its new office in Stockholm.
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UK’s FSA names Huertas to oversee asset managers
UK – The UK’s main financial regulator, the Financial Services Authority, has named Citigroup transaction services executive Thomas Huertas to oversee wholesale and institutional markets such as asset management.
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DNB-PVK merger set for OK despite pension row
NETHERLANDS - The Dutch lower house of parliament will vote on the government’s proposal to merge the Dutch central bank and pension regulator on Tuesday September 7.
