All IPE articles in September 2006 (Online) – Page 8
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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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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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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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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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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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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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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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Dutch govt facing €60m divorcees’ pension payout
NETHERLANDS – A group of around 30,000 women divorced before 1981 who could not contribute to a pension are in line for a total payment of around €60m from the Dutch government.
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Mercer names bundled pension services chief
UK – Mercer Human Resource Consulting has appointed Chris Evans as leader of its bundled pension services operations in the UK - Mercer Retirement Solutions and Mercer Employee Benefits.
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Belgium’s Kortrijk in €5m Silver Fund move
BELGIUM – The Belgian council of Kortrijk (Courtrai) is looking to put a mandate of €5m in to a so-called ‘Silver Fund’.
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Whitbread fund appoints Watson Wyatt
UK – The £1.2bn (€1.8bn) Whitbread Group Pension Fund have appointed Watson Wyatt as its investment consultant.
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Row over Aer Lingus deficit ahead of sale
IRELAND – The Aer Lingus pension deficit could be almost double the originally estimated shortfall, an unpublished report commissioned on behalf of the Irish state airline’s unions warns.
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Bedford tenders £100m in passive UK equities
UK - The £773m (€1.1bn) Bedfordshire Pension Fund is seeking a passive (index-tracking) investment manager for £100m in UK equities.
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Mercer replaces chief executive
GLOBAL – Mercer Human Resource Consulting’s chief executive Michael Caulfield is to retire and be replaced by Michele Burns, chief financial officer at parent firm Marsh & McLennan Companies.
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IAPF Conference: CFOPS on pan-European funds
IRELAND – Phelim O'Reilly, the general manager of the Irish Construction Federation Executive Pension Scheme has called for a pan-European pension fund for mobile workers such as those in the construction sector.
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IAPF Conference: Brennan outlines the challenges
IRELAND – Irish Social and Family Affairs minister Seamus Brennan today outlined the problems facing the Irish pensions industry.
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Swiss association rules out governance laws
SWITZERLAND – Despite the Swissfirst scandal, Swiss pension fund association ASIP has urged the government to refrain from enacting new laws aimed at tightening regulation of Swiss schemes, known as Pensionskassen.
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Principal Global Investors names European CEO
EUROPE - Principal Global Investors has named Nick Lyster as chief executive of its London-based European operations.
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Most actuaries fail communication exam
UK - The Actuarial Profession's communications exam is failed by almost two-thirds of those who take it, says Institute of Actuaries president Nick Dumbreck.
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GSAM-backed pension academy launches
UK – The Westminster Business School’s Pension Investment Academy today with backing from Goldman Sachs Asset Management.
