All articles by Daniel Brooksbank – Page 21
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IBM's Ross joins London pension fund
UK - Suzanne Ross, investment manager at the IBM Pension Fund, is to join the £3.5bn (€5.1bn) London Pension Fund Authority as investment director.
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Dutch pension funds ‘add to tax volatility’
NETHERLANDS – The unique nature of the Dutch pension system has contributed to higher volatility in the government’s tax revenues, according to a new report.
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Aegon launches study on multinational pensions
GLOBAL – Insurance group Aegon has launched an online study to develop a “future vision” of multinational companies’ pension plans in the future.
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Top European firms have €136bn pension deficits
EUROPE – The top 50 European blue chip companies have a combined pension deficit of €136bn, according to actuaries Lane Clark & Peacock (Corrects figure).
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Icelandic pension funds buy into financial group
ICELAND – Nine Icelandic pension funds have bought more than six percent of financial services group Exista from Kaupthing Bank.
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LGIM names global fixed income head
GLOBAL - Legal & General Investment Management has named Gartmore's Roger Bartley as its new global head of fixed income.
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Essex tenders up to €1.4bn in currency overlay
UK – The £2.1bn (€3.1bn) Essex County Council Pension Fund has tendered up to €1.46bn in active currency overlay.
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Deutsche asset mgmt division assets down €33bn
GLOBAL – Invested assets at Deutsche Bank’s asset management division have slipped by €33bn amid an unspecified amount of net institutional asset outflows.
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JLT closes DB scheme, links with Paternoster
UK – Insurance and employee benefits firm Jardine Lloyd Thompson has closed its own defined benefits pension scheme.
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Centrica awards pensions admin to Mercer
UK - Mercer Human Resource Consulting says it has been appointed to provide administration services for the defined benefit pension arrangements of energy company Centrica, covering more than £2.5bn (€3.6bn) in assets.
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PGGM’s Muller joins Bouwfonds Asset Management
NETHERLANDS - Léon Muller, senior portfolio strategist for real estate at Dutch health care pension fund PGGM, is leaving to join Bouwfonds Asset Management as head of research.
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More fears over “misguided” portability directive
EUROPE – Misgivings about the European Commission’s proposed directive on pensions portability have continued to emerge, with the latest salvo coming from the National Association of Pension Funds in the UK.
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Tower Hamlets tenders UK and global equities
UK – The £640m (€935m) London Borough of Tower Hamlets Pension Fund has tendered an initial £160m in UK and global equities.
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Segars appointed NAPF chief executive
UK – Joanne Segars is to take over from Christine Farnish as chief executive of the National Association of Pension Funds.
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“Back to basics” for pensions accounting project
EUROPE – The Accounting Standards Board is going “back to basics” for its research project into pensions accounting.
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Woolworths scheme puts 10% into alternatives
UK – The £300m (€438m) Woolworths Group Pension Scheme is to put 10% into alternative investments including property and active currency following an investment review by Hewitt Associates.
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ABN Amro AM profits fall amid €1.8bn outflow
GLOBAL – ABN Amro has disclosed €1.8bn in net outflows and a fall in profits at its asset management business unit in the second quarter of 2006.
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Germany's Westfalen-Lippe fund backs Hermes
GERMANY - The €6.85bn Westfalen-Lippe doctors' pension fund has put €25m into the Hermes European Focus Fund.
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Mercer takes over at €2.4bn Allied Domecq scheme
EUROPE – Mercer Human Resource Consulting has taken over the running of the €2.4bn pension fund of drinks firm Allied Domecq.
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EU launches financial legislation database
EUROPE – The European Commission has set up a database allowing public access to all European Union member states’ financial services legislation - including the directive on occupational pension funds.
