All articles by Barbara Ottawa – Page 127
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Hewitt’s Paris head Puche leaves
FRANCE – Vincent Puche, head of Hewitt Associates’ Paris investment practice, has left the firm (adds investment).
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Rentokil details asset revamp
UK – Pest control firm Rentokil Initial, which is the process of closing its defined benefit pension fund, has revealed more details about the scheme’s switch into bonds.
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Asset chief takes over at Finland’s Evli
FINLAND – First-half losses at Finland’s Evli Bank have been followed by asset management chief Maunu Lehtimäki taking over as group chief executive from Henrik Andersin.
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Bulgarian pension fund Doverie taken over
BULGARIA - The largest Bulgarian pension fund, Doverie, has been taken over by Austrian insurance group Wiener Städtische as part of a complex deal with investment group Kardan.
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AP1 chooses six emerging markets managers
SWEDEN - The Swedish buffer fund Första AP-Fonden, or AP1, has awarded emerging markets mandates to six of the 12 managers it named a year ago.
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Germany’s EnBW confirms multi-billion revamp
GERMANY – Energie Baden-Württemberg, Germany’s third largest energy firm, has completed a revamp of the way its pension money is invested, switching to a so-called ‘master-fund’ structure for the assets.
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SEB Asset Management names new head
SWEDEN – Fredrik Boheman has been named as Harry Klagsbrun’s successor as head of SEB Asset Management.
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AMF Pension makes 0.5% return
SWEDEN - AMF Pension’s total returns were down to 0.5% in the first half of 2006 from 8.6% for the same period last year.
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Aon buys Swedish pensions firm
SWEDEN - Aon Consulting has bought Swedish pension management firm Förmånsoptimering for an undisclosed sum.
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Market-hit Swiss pension funds return -0.3%
SWITZERLAND - Swiss pension fund returns fell to –0.3% in the first half of this year, hit by severe losses in the global equity and bond markets, according to the ASIP industry association.
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BNP Paribas names global relationship manager
GLOBAL – BNP Paribas has appointed Scott Dickinson as global relationship manager in London covering the institutional investor and financial intermediaries client segment, focusing on alternative assets.
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Pension funds give boost to waste and water investments
UK – Several major UK pension schemes holding shares in Impax, the only pure play environmental investment vehicle in the FTSE All Share index, haveinvested in two of the company’s funds bringing the total of funds under its management up to over £400m(€578m).
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Ex-Schroders hedge CIO Parkin re-surfaces
UK - John Parkin, formerly chief investment officer of the fund of hedge fund team at Schroders, has re-surfaced at hedge fund group Aspect Capital.
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Pension funds offered multi-manager FX product
UK – Pension funds are being offered a new multi-manager foreign exchange product as a way to get exposure to the asset class.
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Hermes’ own pension fund deficit widens
UK - The deficit at Hermes Pension Management’s own £50m in-house scheme widened to £16.6m (€24.4m) last year from £14.7m, company accounts show.
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German institutions ‘still hedge fund sceptics’
GERMANY – German institutional investors are still very reluctant to put money into hedge funds, despite the 2004 liberalisation of the market, says FERI Institutional Advisors.
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UBS, Fidelity under scrutiny at Ealing
UK - UBS Global Asset Management and Fidelity International, currently managing the London Borough of Ealing’s £500m pension fund are under scrutiny.
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Hymans facing review at Cornwall
UK - Cornwall County Council has tendered actuarial services for its £980m (€1.4bn) pension fund.
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Northern Trust names quantitative CIO
GLOBAL – Northern Trust Global Investments has named Steven Schoenfeld to the new role of chief investment officer of Global Quantitative Management.
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Kingston hires HSBC for DB admin
UK – Telecoms firm Kingston Communications has appointed HSBC Actuaries and Consultants Ltd. to provide administration services to its two defined pension schemes covering 2,900 members.
