All articles by Helen Avery – Page 12
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BoNY names Headon as alternatives manager
IRELAND – The Bank of New York is expanding its services for alternative assets, specifically for European-based hedge fund managers.
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Schroder IM reshuffles management
UK – Schroder Investment Management has reshuffled its senior positions with the head of equities, Michael Pignatelli, taking a more hands-on role in managing money.
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Insight investment chief Deakin to retire
UK - Michael Deakin, chief investment officer of Insight Investments, has retired, and will be setting up his own consultancy.
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Luxembourg may outsource national pension fund
LUXEMBOURG – Luxembourg intends to modify the running of its national pension reserve fund, which could result in management of the four billion-euro fund being put out to tender next year.
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UK’s Audit Commission seeks investment consultant
UK – The 250 million-pound (356 million-euro) pension fund of the Audit Commission is tendering for an investment consultant.
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Morley wins E142m Unison SRI mandate
UK – The pension fund of the Unison trade union has appointed Morley Fund Management to run a 100 million-pound (142 million-euro) socially responsible investment mandate.
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German government plans pension reform conference
GERMANY – The German government is planning a conference on pensions reform for the leaders of all the political parties.
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Switzerland lowers minimum guaranteed rate to 2.25%
SWITZERLAND – The Swiss Federal Council, the Bundesrat, has decided to lower the minimum guaranteed interest rate on pensions to 2.25% from 3.25% as of January 1 2004.
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France: supplementary pensions on the agenda
FRANCE – The French social partners began meetings today to discuss the impact of France’s state pensions reform on supplementary pensions.
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Bristol University pension scheme opts for SEI
UK – The University of Bristol pension fund has chosen SEI Investments to run the entire fund as it switches to a manager of managers strategy.
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Deutsche Bank urges Germany to shift to DC
GERMANY – Deutsche Bank has outlined improvements for the German pension system including a move to defined contribution, and greater allowances for the new Pensionsfonds.
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Surrey scheme considers core-satellite approach
UK – Surrey County Council’s 950 million-pound (1.35 billion-euro) pension fund is reviewing the services and management of the scheme, and is considering a series of mandates.
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Russia authorises 55 pension fund managers
RUSSIA – The Russian government has authorised 55 private asset managers to run pension fund money as part of the new reforms, but financial benefits for the managers will not be seen for some time, says the head of one of the winning firms.
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Actuaries slam UK’s pension protection fund
UK – The chairman of the Association of Consulting Actuaries has slammed the government’s plan to introduce a pensions protection fund, saying it will mark an end to final salary schemes.
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Watson Wyatt queries PVK solvency proposals
NETHERLANDS – Consulting firm Watson Wyatt has criticised solvency testing proposals by the PVK, the Dutch pension fund and insurance watchdog.
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DB schemes should allocate zero to equities - UBS
UK/US – Defined benefit pension schemes should seriously consider the case of a zero allocation to equities, particularly in the case of indexed equities, says a report by UBS Investment Research.
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Job cuts inevitable as Aberdeen buys EFM
UK – Aberdeen Asset Management has confirmed that it is buying Edinburgh Fund Managers for 36 million pounds (51.8 million euros).
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Commission's pension negotiator moves on
EUROPE – The European Commission’s Jean-Yves Muylle, who led the negotiations on the pension funds directive, has moved to a different position within the commission.
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Speculation over HVB asset management arm
GERMANY – HVB’s chief executive Dieter Rampl has re-iterated that the group is to focus on distribution – fuelling talk that its asset management arm may be sold.
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Italian surveyors’ fund tenders two mandates
ITALY – The 1.2 billion-euro Italian pension fund for surveyors has put out to tender two mandates totalling 150 million euros.
