All articles by Daniel Brooksbank – Page 18
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New Swiss pension consulting firm set up
SWITZERLAND – A new Swiss pension consulting firm has been set up by former senior staff at Complementa Investment-Controlling AG.
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SPP to allow full-range asset allocation
SWEDEN – Handelsbanken says it will allow SPP policyholders who save in traditional insurance to decide the proportion of equities and guaranteed interest rate.
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ABP affiliate buys San Francisco office block
REAL ESTATE – A real estate firm co-owned by Dutch pension fund ABP and State Street has bought an office block in San Francisco.
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ECB calls for global pension fund supervision
GLOBAL – The European Central Bank has called for global monitoring and supervision of institutional investors such as pension funds.
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IPE-QUEST: Danish fund tenders currency overlay
DENMARK – A Danish pension fund has tendered up to $200m in currency overlay via IPE-Quest.
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Clwyd Pension Fund tenders GTAA
UK – The £800m (€1.2bn) Clwyd Pension Fund administered by Flintshire County Council has tendered a £40m Global Tactical Asset Allocation mandate.
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Aer Lingus plugs pension deficit before IPO
IRELAND – Irish airline Aer Lingus is to make a “one-off” pension contribution ahead of its planned new €1.2bn initial public offering.
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State Street shareholder activist ‘facing jail’
GLOBAL – A shareholder activist is facing jail after being ejected at State Street Corp.’s annual meeting, according to a filing at the Securities and Exchange Commission.
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Fortis sets up green venture capital fund
NETHERLANDS – Fortis Venturing has set up a new venture capital fund for sustainable so-called ‘technostarters’ in the Netherlands.
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Henderson posts €4.3bn institutional outflow
UK – Henderson Global Investors had a £2.9bn (€4.3bn) outflow of institutional assets in the first half of 2006, the company said in its first-half report.
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IASB tackles IAS19 minimum funding problem
GLOBAL – The International Accounting Standards Board has proposed guidance on the “tricky issue” of how to reconcile pension funds’ minimum funding requirements with the IAS19 pensions accounting standard.
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UK rail schemes return 16.3% amid union concern
UK - The UK’s combined £17bn (€25bn) railway pension funds made an aggregate return of 16.3% in 2005 – almost double the previous year’s 8.3%, company accounts show.
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UK’s Turner likens PAYG to pyramid selling
GLOBAL – Adair Turner, the chairman of the UK’s Pensions Commission, has likened pay-as-you-go pension systems to pyramid selling schemes.
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IPE-QUEST: Three new searches on system
GLOBAL – There are three new searches by European pension funds for euro zone debt, pan-European equities and currency alpha on the IPE-Quest system.
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Pension professor leaves Watson Wyatt board
GLOBAL - Pensions academic John Shoven is to leave the board of consulting firm Watson Wyatt Worldwide.
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EU to study insurance guarantee schemes
EUROPE – The European Commission is planning to look at the problems of life insurance guarantee schemes in the European Union.
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AXA IM names Dutch institutional head
NETHERANDS – AXA Investment Managers has hired Hanneke Ketellapper-Veringa from rival ABN Amro to be head of its Dutch institutional business.
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Bank of NY unveils European pension portal
EUROPE - The Bank of New York has launched a web-based portal providing customised accounting and performance reporting information for European pension clients.
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IBM trustee tells of battles with company
EUROPE – A former member-nominated trustee at IBM’s £4.9bn (€7.2bn) UK pension fund says he feels the computer giant made his role more difficult through a lack of information.
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Norges Bank funds 11 new mandates
NORWAY - Norges Bank Investment Management funded a total of 11 new investment mandates in the second quarter, amid a -1.5% return at the Government Pension Fund.
