All articles by Daniel Brooksbank – Page 35
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Portability directive ‘could reduce schemes’
EUROPE – The European Commission’s proposed directive on pensions portability could “reduce” occupational pension schemes, according to a financial services forum at the European Parliament.
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Reuters to “de-risk” pension investment strategy
UK – News and data group Reuters says it plans to “de-risk” the investment strategy of its UK defined benefit pension plans.
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UK pension regulator’s risk chief exits
UK - Louise Inward, head of corporate risk management at the Pensions Regulator, is to join a consulting firm.
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Northern Trust nabs ex-JP Morgan’s Austin
EUROPE – Mark Austin, the former business manager for Europe, the Middle East and Africa at JP Morgan's Worldwide Securities Services arm, has joined Northern Trust.
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FRR awards €600m SRI mandates
FRANCE – The FRR, the €26.6bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has awarded five asset managers a total of €600m in socially responsible investing mandates.
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Hermes writes to VW on corporate governance
GERMANY – Hermes, the asset manager owned by the BT Pension Scheme, has written to German carmaker Volkswagen seeking an investigation over its corporate governance practices.
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French reserve fund re-tenders transition broking
FRANCE – The FRR, the €26.6bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has re-tendered a €16bn transition broking brief it awarded to Goldman Sachs less than two years ago.
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NPRF commits €225 to real estate, private equity
IRELAND – The National Pensions Reserve Fund says it committed a €225m to real estate and private equity in the first quarter of 2006.
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Latest “Blue Book” UK reference guide published
UK – The latest edition of ‘Pensions Funds and their Advisers’ – the “Blue Book” - has been published by AP Information Services in association with the National Association of Pension Funds.
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Pension fund FX trading surges – Greenwich
GLOBAL – Pension fund and asset manager activity in the global foreign exchange market grew 48% last year according to consulting firm Greenwich Associates.
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Pension portability directive “problematic”
EUROPE – The EU’s proposed directive on the portability of supplementary pension rights is “very problematic” due to issues about tax and supervision, according to the European Parliament’s ‘rapporteur’ for the measure.
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Dutch government denies FTK delay
NETHERLANDS – A spokesperson for the Dutch social affairs ministry has flatly denied market rumours that the new Financial Assessment Framework for pension funds had been delayed again.
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ABN Amro AM sells $6bn US retail arm
US – ABN Amro Asset Management has sold its $6bn US mutual fund business for $36.6m to focus on institutional business.
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Pension directive to boost asset managers – GSAM
EUROPE – The European Union’s occupational pension fund directive is likely to boost asset management and investment returns, says Goldman Sachs Asset Management’s Suzanne Donohoe.
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Schroders in US outsources €2.4bn to Bank of NY
GLOBAL – Schroders’ North American arm has outsourced investment operations for $3bn (€2.4bn) in assets to the Bank of New York.
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OECD warns on Portuguese pension system
PORTUGAL – The Organisation for Economic Cooperation and Development has warned that the Portuguese pension system needs radical action to keep it financially viable.
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HSBC names securities services chief
UK – Banking group HSBC has named Tim Howell to take over as global head of its securities services business from John Gubert, who is retiring.
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Irish reserve fund updates tender process
IRELAND – The €15.4bn National Pensions Reserve Fund says it is updating its tendering process for equity managers to make it more user-friendly.
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Dutch funds buy into UK private equity firm
UK - The two largest Dutch pension funds, ABP and PGGM, have put an undisclosed sum into private equity firm West Private Equity via their AlpInvest vehicle.
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BlackRock-MLIM to announce new business model
US – US asset manager BlackRock says it will announce the new business model for its merger with Merrill Lynch Investment Mangers this week.
