All articles by Helen Avery – Page 30
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BAE hammers out pension deal with trustees
UK – BAE Systems and its trustees have agreed that both employees and the company will increase contribution rates over the next three years in order to plug the shortfall in its UK pension scheme.
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Watson’s Horsfall recommends high-yield debt
GLOBAL – High-grade high yield debt is a ‘closet equity’ and should be considered as alternative, says Nick Horsfall, head of fixed income at consultant Watson Wyatt.
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Henderson names Fraser to deal with consultants
UK – Henderson Global Investors is focusing on its relationship with investment consultants, and has appointed Andrew Fraser to head up the new strategy.
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Close names asset management CEO
UK – Close Brothers’ asset management arm, Close Investments, has appointed Jonathan Sieff as its new chief executive.
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Edinburgh loses British Coal small-cap mandate
UK – Edinburgh Fund Managers and Fidelity Investments have lost their UK small-cap mandates for the 19 billion pound (27.6 billion euro) British Coal Pension Schemes.
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AXA CFO may head French insurance body
FRANCE – AXA Group’s chief financial officer, Gerard de La Martiniere, may have to step down if he is elected as president of the French insurance industry group, FFSA.
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Asset managers concerned over UK proposals
UK – The European Asset Management Association and the UK’s Investment Management Association have expressed concerns about regulations proposed by the UK Financial Services Authority on ‘bundling’ and ‘softing’.
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EIB appoints Northern Trust as lending agent
LUXEMBOURG – The European Investment Bank has commenced third party securities lending, appointing Northern Trust Global Investments as its lending agent.
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Northern Trust asset arm wins French mandate
FRANCE/LUXEMBOURG – Northern Trust’s asset management arm, Northern Trust Global Investments, has won its first mandate in the French market.
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TKP awards e2.1bn custody mandate to J P Morgan
NETHERLANDS – Dutch pension schemes administrator and manager TKP Pensioen has appointed J P Morgan Investor Services as global custodian for 2.1 billion euros.
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Borsa Italiana, S&P to launch Italian index
ITALY – The Borsa Italiana and Standard and Poor’s are joining together to launch an index that will become the main indicator for the Italian equities market.
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Private equity fundraising halves - report
EUROPE – Global private equity fundraising was significantly down in the first quarter of this year compared to last year, according to private equity information provider AltAssets.
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France’s COB gives green light to hedge funds of funds
FRANCE – The fund of hedge fund market in France is expected to grow now that it is to receive formal regulation by the French regulator, Commission des Operations de Bourse (COB).
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AP1 offers two active Asian equity mandates
SWEDEN – Forsta AP-Fonden, the first Swedish national pension fund, has put out to tender two active equity mandates totalling 500 million euros.
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French reserve fund to allocate 55% to equities
FRANCE – Francis Mayer, head of the 13 billion euro French reserve fund, has confirmed that 55% of the fund will be allocated to investments in equities and 45% to fixed interest securities.
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NAPF could recommend a vote against Shell executives' package
UK/NETHERLANDS – Instiitutional investors in Royal Dutch/Shell look set to exert their power by opposing the large remuneration packages awarded to executives at the next annual general meeting.
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French unions plan pension reform protest
FRANCE – France’s unions are preparing to take to the streets this Thursday to protest about the country’s pension system and reforms.
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Snijders retires from Schootse Poort
NETHERLANDS – Dick Snijders, chief executive of Schootse Poort, the independent asset manager responsible for managing the assets of Stichting Pensioenfonds Philips, has retired.
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French pension protests gain momentum
FRANCE – An estimated 500,000 people demonstrated in the streets of France yesterday to protest against the government’s planned reform of the state pension system.
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Bayer Pensionskasse's chief financial officer resigns
GERMANY – The pension fund of German chemicals firm Bayer AG is looking for a new chief financial officer following the resignation of Juergen Bader.
