All IPE articles in September 2005 (Online) – Page 7
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News
Fledgling Greek market set for kickstart
GREECE - New legislation due to be passed in Greece later this year is expected to create an open institutional market worth around E33bn to asset managers within three to five years, according to Haris Makkas, CEO of ING Piraeus Asset Management in Athens.
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Shell to centralise pensions assets in Rijswijk
NETHERLANDS - Shell has started to bring all its pension funds worldwide into one organisation and under one roof in Holland to create a E50bn asset management operation.
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Moody’s extends asset manager ratings services
GLOBAL – Ratings agency Moody’s Investors Service has upgraded its asset management ratings services to include more of a quantitative element.
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Multek awards pensions brief (Correct)
GERMANY – State Street Global Advisors(SSGA) has just been awarded a multi-asset pensions mandate by the German branch of the multinational company Multek, based in Boeblingen, Germany (Clarifies pensions).
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Funds exemption move could herald cost reductions
EUROPE - The European investment funds industry could see an overall reduction in costs for services related to the management of certain funds if an Opinion from the Advocate General is followed by the European Court of Justice (ECJ).
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SPC reveals obstacles to UK pension funds
UK – A recent survey by the Society of Pension Consultants (SPC) has found that complexity and compliance are rivalling cost as the biggest stumbling blocks for employers trying to set up pension schemes in the UK.
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KAS releases buoyant half-year figures
NETHERLANDS – KAS Bank has reported a €3.9mn increase in commission in the group’s half-year figures released today - an 11.5% increase on the same figures in 2004.
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Mellon takes control of Russell/Mellon venture
GLOBAL - Mellon Financial Corp has taken full control of the Russell/Mellon performance measurement joint venture.
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Dutch central bank sees no alpha move in FTK
NETHERLANDS – The Dutch central bank, the DNB, says the new FTK framework should not result in a massive move into so-called alpha generating investments by pension funds.
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New warning over hedge fund capacity – report
GLOBAL – Hedge fund executive Mark Yusko has warned about capacity in the hedge fund market, according to a newswire report.
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Dutch pensions industry calls for stability
NETHERLANDS - The Dutch pension industry, confronted with unprecented change in the last few years, is calling for a period of stability.
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Mercer to advise company and trustees at HBOS
UK – Mercer Human Resource Consulting has downplayed suggestions of a potential conflict of interest in its appointment to advise banking group HBOS on pensions matters.
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Study questions benefits of full FX hedging
EUROPE - A 100% hedge should never be applied for a long-term investment in different currencies, according to research by Dutch consultancy Compendeon.
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ABN Amro Mellon opens Luxembourg office
LUXEMBOURG – ABN Amro Mellon Global Securities Services has launched a Luxembourg office with Ravi Thakur as general manager of the branch.
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Dutch schemes in joint levensloop move
NETHERLANDS - Four Dutch pension funds have joined forces to offering a product specifically for the new 'levensloop', or live course, scheme.
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Hewitt sees consolidation in pensions admin
NETHERLANDS – Hewitt Associates, which has now taken over the administration of the Philips Pension Fund, says it sees consolidation in the pensions administration area.
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IPE publishes Top 1000 European Pension Funds
EUROPE – Investment & Pensions Europe has published Europe’s Top 1000 for 2005, a listing of the largest schemes in Continental Europe and the UK.
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BAE pension liability widens by €1.3bn
UK – BAE Systems’ total pension liability has widened by £884m (€1.3bn) due to falling discount rates.
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Credit Agricole gets €21bn of asset inflows
FRANCE – Credit Agricole says its asset management arm gained almost €21bn in inflows in the first half of the year.
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Capita buys pensions admin firm FPS
UK – Pensions administrator Capita Hartshead has acquired the FPS Group of Companies following “enormous change” in the UK pensions market.
