All IPE articles in September 2004 (Online) – Page 9
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News
Stoxx says European index to overtake S&P 500
EUROPE – Stoxx, the joint venture index provider, says it is only a matter of time before its Dow Jones Euro Stoxx 50 index overtakes the S&P 500 in terms of assets.
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Dutch associations critical of pre-pension plans
NETHERLANDS – The Dutch pension fund associations the VB and the OPF have criticised the government’s pre-pension proposals – with the head of the OPF saying: “It’s difficult to see where it ends.”
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Swiss minimum interest rate raised to 2.5%
SWITZERLAND – Despite a difference of opinion between social partners and government commissions, the Swiss federal council has decided to raise the minimum guaranteed interest rate for occupational pensions to 2.5% from 2.25%
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Fidelity Investments names UK DB MD
UK - Fidelity Investments has named Martin Harris as managing director of UK Defined Benefits reporting to David Stewart, president of the European Institutional Business.
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Rona replaces Marin as Invesco Spain chief
SPAIN – Invesco Asset Management Spain has named Miguel Rona as its new general director, replacing Juan Marin who is joining Fortis Investments.
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Dutch agency backs Scandinavia pension model
NETHERLANDS – The Dutch government’s social planning agency, the Social and Cultural Planning Office, says the Scandinavian model of pension reform is “worth copying by others”.
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Turkey raises pension sales target
TURKEY - Turkey’s private pension sales will reach 350,000 policies for the entire 2004, up 16.6% from an initial target of 300,000 industry sources have said.
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Former Varma CEO Pitkänen retires
FINLAND - Paavo Pitkänen, the former president and chief executive of Varma Mutual Pension Insurance Co., has retired from the company.
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HSBC Actuaries hires Mercer's Sarkar
UK - HSBC Actuaries and Consultants Ltd. says it has hired Jonathan Sarkar from Mercer Human Resource Consulting to be actuarial director.
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BOE says DB closures adding to property boom
UK – The Bank of England says the closure of defined benefit occupational pension schemes has added to the recent “upward pressure” on house prices in the UK.
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OECD head sees $1trn global pension shortfall
GLOBAL – The head of the Organisation of Economic Cooperation and Development says the funding shortfall in pension schemes worldwide could be as large as one trillion dollars.
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Icelandic bid for Singer likely soon – analyst
UK – Iceland’s Kaupthing bank, which has made a series of European acquisitions since 1998, is likely to make a bid for UK asset management company Singer & Friedlander soon, an Icelandic analyst has said.
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AP3 taps Trema for management system
SWEDEN – Tredje AP-fonden, the 151.9 billion-crown (16.5 billion-euro) third Swedish buffer fund, has chosen an investment management system provided by Trema Group, the supplier said.
