All articles by Daniel Brooksbank – Page 62
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News
CEIOPS facing EU finance ministers’ scrutiny
EUROPE – CEIOPS, the European pensions supervisory committee, is facing scrutiny from European Union finance ministers this week.
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European pension funds sue News Corp.
GLOBAL – Major European pension institutions such as ABP, USS and Hermes are among a group of institutional investors which have launched a lawsuit against Rupert Murdoch’s News Corp. over a poison pill arrangement.
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Norway proposes mandatory occupational pensions
NORWAY – The Norwegian government has put into motion the process of setting up a mandatory occupational pensions regime that could affect up to 600,000 people.
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COMMENT: For FTK read PVK
COMMENTARY - The Dutch authorities’ decision last month to delay the FTK for pension funds by a year, while broadly expected, was still significant.
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Sweden consults on traffic-light pension model
SWEDEN – The Swedish financial regulator has launched a consultation on a proposal to identify possible problems at occupational pension funds and life companies using the so-called traffic-light model.
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UK further delays new pension funding standard
UK – The UK government has decided to further delay new defined benefit scheme funding requirements until the end of this year, saying it’s important that it gets the regulations right.
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Pension consulting spared in Aon UK job cull
UK – Aon is to cut up to 750 jobs in the UK, although the human resources and pensions consulting business will not be heavily affected.
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IPE-QUEST: Danish fund tenders US large-caps
DENMARK – A Danish pension fund has tendered $100m+ (€82.6m) of US and Canadian large-caps via IPE-Quest.
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Blow to Italian funded system as reform delayed
ITALY – The outlook for a funded pension system in Italy has been set back following a delay to the approval of the reform of the so-called Tfr system.
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CEIOPS re-drafts pension supervision protocol
EUROPE – CEIOPS, the European pension supervisory committee, has amended a draft protocol on supervisory cooperation following criticism from the European Federation for Retirement Provision in particular.
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Consultant power ‘driving asset management M&A’
EUROPE – The increasing power of investment consultants and more activity from pension fund trustees are among the pressures that could lead to more mergers in the European asset management industry, PricewaterhouseCoopers says.
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Robeco names DNB’s Hoogduin as chief economist
NETHERLANDS – Robeco, the asset management arm of Rabobank, has named De Nederlandsche Bank’s Lex Hoogduin to succeed Jaap van Duijn as chief economist.
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Railpen chief resisting flight to bonds
UK – Chris Hitchen, chief executive of the £15.5bn (€23bn) Railways Pension Trustee Co., Railpen, says that pension schemes’ shift to fixed income was an “overreaction”.
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EU mulls action over pension directive
EUROPE – The European Commission is considering taking action against member states over the transposition of the new directive on occupational pensions.
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IPE-QUEST: Danish manager tenders high yield
DENMARK - Kirstein Finans has tendered an initial $100m in global high yield bonds on behalf of a Danish asset manager via IPE-Quest.
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IXIS Asset Management names Leroux as CIO
FRANCE – IXIS Asset Management has named SCOR Asset Management’s Véronique Leroux as its new chief investment officer.
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Petroleum Fund influencing saving behaviour
NORWAY – The Norwegian central bank says the existence of the Petroleum Fund may be influencing Norwegians’ saving behaviour.
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Northern Trust has $4bn in pooling pipeline
EUROPE – Northern Trust says six multinational clients have committed around $4bn for pension pooling vehicles in Ireland and Luxembourg.
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ING completes €35m Slovakia pensions deal
SLOVAKIA – Dutch banking group ING has completed the previously announced €35m acquisition of Slovak pensions provider VSP Tatry Sympatia.
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GlaxoSmithKline consolidates €6bn custody
EUROPE - Pharmaceutical giant GlaxoSmithKline has consolidated €6bn in custody with ABN Amro Mellon, according to the provider.
