All articles by Daniel Brooksbank – Page 11
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Swedish pension lending reaches 1.9% of GDP
SWEDEN – Net lending in the Swedish pension system – the Premium Pension Authority and the national buffer funds – has been put at SEK50bn (€5.4bn), or 1.9% of gross domestic product, by the government.
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ABP's Maassen re-elected EFRP chairman
EUROPE - Jaap Maassen, director of pensions at Dutch pension fund giant Stichting Pensionfonds ABP, has been re-elected chairman of the European Federation for Retirement Provision.
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PGGM settling forex trades via CLS
NETHERLANDS – PGGM, the €77bn Dutch health care pension fund, is now settling foreign exchange trades via Continuous Linked Settlement through its use of the Misys Treasury Plus automated third-party trade notification service, the provider says.
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ABN Amro asset management quarterly profit slips
EUROPE - ABN Amro said third-quarter net profits at its asset management business fell 5.7% pct to €50m from €53m in the prior year period.
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FTSE 100 deficits fall to €62.8bn - Watson
UK – Pension deficits at blue-chip UK firms have declined to a four-year low of £42bn (€62.8bn) thanks to favourable investment markets, according to Watson Wyatt.
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UK pensions regulator names risk management head
UK – The Pensions Regulator has appointed Martine Trouard-Riolle as its permanent head of corporate risk management.
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Mercer enters asset management with MGI launch
EUROPE – Mercer says it is effectively entering the European asset management market with the launch of its multi-manager offering, Mercer Global Investments.
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Paternoster CEO outlines “keys to success”
UK – Mark Wood, chief executive of Paternoster, has outlined what he terms the keys to the success of the new breed of pension buyout firms.
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EFAMA director general exits after a year
EUROPE - Hugh Trenchard, director general of the European Fund and Asset Management Association, is stepping down after less than a year in the role.
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ECB sees pension fund-bank competition
EUROPE – Demographic change could prompt greater competition between pension funds and banks, says the European Central Bank.
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Man’s Fink sees pension longevity derivatives
GLOBAL – Stanley Fink, the chief executive of hedge fund company Man Group, says he expects pension longevity derivatives contracts to develop in the coming years.
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Aviva’s annuity sales fall 6%
UK – Insurance group Aviva has become the latest to warn about pricing pressure in the UK’s bulk annuities market after reporting a 6% decline in total annuity sales.
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Management change at State Street in the UK
UK – There’s been some management changes at State Street in the UK.
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New EU official handling IORP directive
EUROPE – A new official has taken over at the European Commission’s internal markets department overseeing the implementation of the occupational pension fund directive.
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NewSmith gets $500m Wellcome Trust backing
UK - NewSmith Capital Partners, the asset management boutique set up in 2003 by former Merrill Lynch bankers, is to get $500m (€395m) in funding from the Wellcome Trust, the two said today.
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UK’s PPF in “urgent” fund manager tender
UK – The Pension Protection Fund has issued a tender seeking asset managers for a range of asset classes as a “matter of urgency”.
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Insight nabs Zurich’s Poll for institutional role
UK – insight Investment hired Jonathan Poll from Zurich Financial Services as a director of UK institutional business development.
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Royal Mail scheme chairman joins Synesis
UK – Jane Newell, chairman of the £21bn (€31.3bn) Royal Mail Pension Plan, is to join the board of new pensions annuity firm Synesis Life as a non-executive director.
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India’s Tata would inject €188m into Corus fund
GLOBAL – Indian steelmaker Tata Steel says it would inject £126m (€188m) into the Corus pension fund as part of its multi-billion pound takeover bid.
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Prudential sees bulk annuities competition
UK – Prudential says there’s more competition in the bulk annuities market – and that it won’t budge on price.
