All articles by Susanna Rust – Page 7
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Medical scheme preserves mandatory status
NETHERLANDS - The Dutch pension fund for self-employed medical specialists, SPMS has preserved its mandatory status under new legislation.
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Denmark's ATP quadruples buffer to €9.4bn
DENMARK - ATP, Denmark’s flat-rate mandatory occupational pension scheme, has quadrupled its reserves in four years to DKK70.1bn (€9.4bn).
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Denmark still to obey ECJ rule
DENMARK - The Danish ministry of taxation says it needs another month before ending discrimination against pension polices bought from foreign-based providers.
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Luxembourg introduces more freedom for alternatives
LUXEMBOURG – The Grand Duchy has passed legislation to encourage hedge funds to use its administrative services, promising no official scrutiny of sub-advisers or fund promoters of new vehicles.
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French SRI funds grow by 26%
FRANCE – Socially responsible investment (SRI) funds in France grew in value by 26% last year, from €10bn to €12.5bn, according to official state research body, Novethic.
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Head of UK fixed income quits Credit Suisse
UK - Credit Suisse Asset Management’s head of UK fixed income, Ian Fishwick, has resigned just weeks before the arrival of new boss, Paul Griffiths from AXA.
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Robeco strengthens institutional sales team
NETHERLANDS – Ronald Waals is joining Robeco Asset Management’s institutional sales team from 1 March, the Dutch firm has announced today.
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£23bn UK scheme to close final salary arrangement
UK – Royal Mail will close its pension scheme to new members in a bid to reduce an annual servicing bill of £730m.
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Legal challenge to BP chief’s remuneration begins
UK - The London Pension Fund Authority has today started a legal battle for a reduction in the severance and pension package for Lord Browne, outgoing chief executive of oil major, BP.
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LDI boosts Watson Wyatt consulting profits by 53%
US - Watson Wyatt Worldwide, adviser to many of the world’s largest pension funds, has reported a jump in revenues from its investment consulting division by over 50% in the last three months of 2006.
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Julius Baer quadruples profits to CHF672m
SWITZERLAND – Wealth manager, Julius Baer has reported net profits for 2006 of CHF672m (€414m), more than quadruple its 2005 return.
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Gartmore poaches Siwicki from Aon
UK – London-based asset manager, Gartmore has hired Marek Siwicki from Aon Consulting.
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SEI wins eight new Dutch clients
NETHERLANDS – Global multi-manager SEI captured eight new Dutch pension fund mandates in 2006 as the company reports institutional sales growth worldwide of €4.5bn.
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UBS and Bloomberg team up on commodities
SWITZERLAND - UBS and Bloomberg have launched a new range of commodities indices to combat perceived limitations in traditional benchmark products.
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PIRC offers UK funds Myners health check
UK - Corporate governance specialist, PIRC, is offering trustees an independent check-up on compliance with the Myners principles.
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€200m Balkan Trust seeks new managing director
KOSOVO - The €200m Kosovan Savings Pension Trust (KSPT) is looking for a new head following the decision by Arieta Koshutova to step down.
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Aon Asset Management loses Child
UK - Aon Asset Management’s distribution director, Tony Child is leaving the company after seventeen months, fuelling further speculation that the manager-of-manager outfit is up for sale.
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Threadneedle recruits for Danish push
DENMARK - Nina Movin, former head of equities at Danish healthcare fund PKA, is setting up a Nordic sales office for UK asset manager, Threadneedle Investments, in Copenhagen.
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Lehman poaches Morgan Stanley star
GERMANY - Lehman Brothers has boosted the coverage of its European Pensions Advisory Group with the appointment of Nigel Cresswell in Frankfurt.
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Portugal Telecom challenged on pension accounts
PORTUGAL - Sonaecom has reaffirmed its take-over offer price for Portugal Telecom (PT) in spite of claims that the target may have €920m more in pension deficit than stated.
