All IPE articles in September 2006 (Online) – Page 3
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Hewitt’s Duff attacks real estate managers
REAL ESTATE - Most real estate fund managers aren’t fit for purpose, according to Nick Duff, real estate partner at Hewitt Associates. [This story first appeared on IPERealEstate.com.]
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UK regulator warns on longevity assumptions
UK - The head of the Pensions Regulator has warned that underestimating members' life expectancy could mean millions of pounds of extra pension liabilities.
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Swiss voters reject SNB cash for pensions plan
SWITZERLAND – Swiss voters have overwhelmingly rejected a proposal to use up to CHF1.5bn (€950m) from the Swiss National Bank’s annual profit to bolster the state pension scheme.
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Ex-Nestlé pension head McKeand joins AEGON
UK – Innes McKeand, the former head of investments at Nestlé UK Pension Trust, is to join AEGON Asset Management in the new role of head of equities from November, the firm announced today.
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UK public pensions liability now €1.5trn – report
UK – The UK’s public pensions liability has been put at more than £1trn (€1.5trn) by a new study, according to a report in the Times.
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German media fund hires FAROS
GERMANY – Baden-Badener Pensionskasse (BBP), a €246m pension fund for employees at public television and radio stations, has hired German consultant Faros to search for a global custodian and a provider of so-called “master funds”.
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Belgium set to tighten pension regulations
BELGIUM – The Belgian financial regulator says forthcoming regulations will provide tighter controls over pension funds.
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Danish pharmacists come out top again
DENMARK – Farmakonomer, the €1.06bn pension fund for Danish pharmacists, has been named as the best performing Danish pension and life insurance fund for the second year running.
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Norway state fund rejects real estate before 2007
REAL ESTATE - The Norwegian finance ministry says moving into real estate “just isn’t a priority” for the Government Pension Fund, despite reports of an imminent 8-10% allocation.
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More details on €4bn Luxemburg pension tender
LUXEMBURG – The new fund set up to hold Luxembourg’s excess pension revenues has issued a tender looking for fund managers to administer its €4bn in assets.
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European pension reform ‘no effect on savings’
EUROPE – European pension reforms in the 1990s had little impact on savings rates, according to a new academic study.
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Hermes Pensions Management names new CIO
UK – Hermes Pension Management, the asset manager owned by BT Pension Scheme, has named Roger Gray to succeed Nick Mustoe as chief investment officer.
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Lewisham considers alternative assets
UK – The £505m (€752m) London Borough of Lewisham pension fund is the next in line planning to go into alternative investments.
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Cambridge tenders €44m currency brief
UK - Cambridgeshire County Council has tendered a £30m (€44.7m) currency mandate.
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KEVA, AlpInvest in Polish private equity move
POLAND – Finland’s KEVA and the Dutch pension fund-owned AlpInvest are among the institutional backers of a new Polish private equity fund.
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DWP eyes separate Personal Accounts body
UK – The Department of Work and Pensions is looking at a separate delivery authority to implement the planned Personal Accounts pensions scheme, according to a top official.
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Hewitt Associates forms Turkish alliance
TURKEY – Hewitt Associates has formed a human resources and actuarial consulting alliance with Turkish management consulting company IDE Consulting.
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Dutch pension taxation case hailed by E&Y
NETHERLANDS – A recent judgement by a Dutch court could put an end to income tax on foreign pension schemes, according to accountants Ernst & Young.
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Commission set up to review UK rail pensions
UK - An independent Railway Pensions Commission has been set up by the rail unions and employers to review the current railways pensions scheme, chaired by former Pensions Commission member Jeannie Drake.
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AP7 hit by Amaranth hedge fund collapse
SWEDEN – Sweden’s SEK80bn (€8.7bn) Sjunde AP-fonden AP7 buffer fund is among investors who’ve lost out in the implosion of natural gas trading hedge fund Amaranth Advisors LLC.
