All articles by Daniel Brooksbank – Page 26
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IPE-QUEST: UK insurer tenders enhanced cash
UK – A UK insurance company has tendered more than £100m (€145m) in enhanced cash via IPE-Quest.
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PPM tenders fund rating services
SWEDEN - Sweden’s Premium Pension Authority, PPM, says it intends to purchase fund rating services.
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EU pensions portability proposal under fire
EUROPE – The European Commission’s proposal for a directive on pensions portability has come under renewed fire from MEPs and industry groups.
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Lines drawn over Solvency II for pension funds
EUROPE – Battle lines are being drawn between supervisors and industry practitioners over a proposal to include pension funds within the insurance industry’s Solvency II framework.
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Pension funds beware commodities - Mercer
UK – Consulting firm Mercer says pension funds could lose money by investing in commodities due to current market conditions.
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EU says pension changes assist Portugal deficit
PORTUGAL – The European Commission is not going to take any immediate action against Portugal over its excessive budget deficit – in part because of recent changes to the country’s pensions system.
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Lane Clark parent gets private equity approach
UK – Alexander Forbes, the South African-based parent company of UK actuaries Lane Clark & Peacock, is in talks with private equity investors about a sale of the entire group.
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Finland’s Varma offloads €74m of retail
REAL ESTATE – Varma Mutual Pension Insurance Co., Finland’s largest private insurance company, has agreed to sell 116 retail properties to a real estate fund.
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EFRP celebrates 25th anniversary
EUROPE – The European Federation for Retirement Provision (EFRP), which represents occupational pension plans in the EU and candidate states, is today celebrating its 25th anniversary in Brussels.
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PPF to appoint specialist fund managers
UK – The Pension Protection Fund will appoint specialist fund managers from next year, according to its new three- year strategic plan.
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Lloyds TSB, trustees agree on €2.2bn deficit
UK – Banking giant Lloyds TSB says it has reached agreement with scheme trustees over how to tackle its £1.5bn (€2.2bn) pension fund deficit.
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Former FIM Group chief executive faces jail
FINLAND – The former chief executive of Finnish broking and asset management group FIM, Seppo Sairanen, has been sentenced to jail by the District Court of Helsinki for alleged fraud.
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Swiss central bank slams “populist” pension plan
SWITZERLAND – The Swiss National Bank has criticised as “dangerously populist” and “conflict-laden” a plan to use its profits to help shore up the state pension scheme.
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Sweden’s SPP gets two board members
SWEDEN - Kerstin Wahlund and Håkan Sandberg have been appointed as new members of the board of SPP Livförsäkring AB, the former mutually owned pension insurance group that’s now part of Svenska Handelsbanken.
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Hewitt Associates chief executive Gifford exits
GLOBAL – Dale Gifford, chairman and chief executive of pension consulting and human resources firm Hewitt Associates, is to retire at the end of the year.
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State Street FX system tops $99bn a day
GLOBAL – State Street says its foreign exchange trading system for institutional investors recently exceeded $99bn (€78.4bn) in a single trading day.
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IPE-QUEST: $300m in fund of hedge funds
GLOBAL – Up to $300m (€237m) in fund of hedge funds is being tendered on IPE-Quest.
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LPFA chief regrets lack of London “super-fund”
UK – Peter Scales, the outgoing chief executive of the London Pension Fund Authority, says he regrets not achieving a merger of London’s myriad local government pension funds into a £20bn (€29.3bn) “super-fund”.
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GSAM nabs HSBC’s Cheetham for institutional role
UK - Goldman Sachs Asset Management has hired HSBC Asset Management’s Geoff Cheetham to boost its UK Institutional sales team.
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ABP to sit on new European securities group
EUROPE – ABP, Europe’s largest pension fund, is to have a member on a new securities industry group set up by the European Commission.
