All articles by Dickon Reid – Page 29
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News
Luxembourg approves first insurance pension fund
LUXEMBOURG- Luxembourg’s ministry of finance has granted the tyre maker Goodyear a licence to launch the country’s first insurance-based pension fund.
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BGL gets go ahead for first of three ASSEPS
LUXEMBOURG- Banque Generale de Luxembourg (BGL) has launched an ASSEP for its Luxembourg-based senior managers after it received regulatory approval at the end of December.
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News
Investment managers embrace performance standards
GLOBAL- Most large investment managers now comply with performance presentation standards according to new research from PricewaterhouseCoopers.
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Advent to invest e1.4bn private equity in Europe
EUROPE- Private equity investor Advent International is to invest e1.4bn in western Europe following the announcement that its fourth fund Global Private Equity IV has raised e2bn
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Managerselection buys out founder Felix Kottmann
SWITZERLAND- Managerselection.com, the Swiss-based data platform for pension funds, consultants and investment managers, has bought back all of founder Felix Kottmann’s shares following his resignation.
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Dutch finance minister calls for better governance
THE NETHERLANDS- Dutch minister of finance Gerrit Zalm has urged the country’s pension funds to sharpen up their corporate governance and to take a more active role in companies they invest in.
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Sweden's PPM to get Sek20bn injection
SWEDEN- Sweden’s PPM scheme will receive a Sek20bn (e2.2bn) cash injection at the beginning of February when contributions from its 4.9m members’ 2000 earnings are introduced into the system.
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Legal changes boost Luxembourg's private pensions
LUXEMBOURG- Legislation passed by the Luxembourg Parliament in December and introduced last week has demonstrated the government is keen to promote third pillar or private pensions.
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News
Luxembourg legislators lift occupational prospects
Legislative changes introduced in Luxembourg at the beginning of the year will encourage companies to externalise their book reserves into occupational pension funds.
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News
Dexia launches multi compartment ASSEP
LUXEMBOURG- Dexia Insurance & Pension Services (DIPS) has launched a multi-compartment ASSEP, Dexia Pension Fund, to provide supplementary pension for Dexia Group’s 3,000 Luxembourg-based employees.
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News
Uptake of stakeholder pensions less than expected
UK- Sales of UK stakeholder pension have got off to a disappointing start according to data from the Association of British Insurers suggesting only 570,000 policies have been sold in the first eight months.
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News
Den norske to buy Skandia AM for e350m
NORWAY/SWEDEN- Norway’s largest financial services group Den norske bank is buying Skandia Insurance’s investment management outfit Skandia Asset Management (SAM) for Sek3.2bn (e350m). Skandia manages SEK280bn meaning Den norske’s assets under management will more than triple to Sek400bn following the deal.
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2001 worst year for UK Pension funds since 1990
UK- UK pension funds reported the worst returns last year for more than a decade according to the performance measurement consultants WM Company.
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News
Brown Brothers hires State Street's Bilbe
Brown Brothers Harriman (BBH) has appointed David Bilbe as managing director of investor services. Bilbe joins from State Street Bank where he was head of the London office.
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News
PPM mis-sells shares for 11,000 members
SWEDEN- Faulty information supplied to Sweden’s PPM by the tax authorities and the country’s National Social Insurance Board (RVF) has led it to mis-sell shares totalling a maximum of e600,000 for more that 11,000 scheme members.
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News
AP7 alternative manager search enters final stage
SWEDEN- The e2.3bn AP7 default fund’s search for private equity and hedge fund of fund investment managers enters the final stage next week when it begins interviewing a final shortlist of ten potential candidates.
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Features
International operators gear up
Across Europe consultants have fared very differently in the past year. Common to almost every country are many similar themes- the shift from DB to DC, companies appreciating the potential risks of their schemes, the question of how to react to falling stock markets and dwindling state provision- and above ...
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Features
Germany still an elusive target
Germany’s decision to pass it long overdue pensions reform will prove a real boon to the consultants market and Mercers’ Jacques Goulet believes the German market will draw a lot of attention thanks to the changes. Historically companies with an emphasis on actuarial services like Heissman and Heubeck market have ...
