All articles by Helen Avery – Page 49
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Aegon to buy Dutch pensions administrator
NETHERLANDS – Aegon’s Dutch subsidiary, Aegon Nederland NV, has said it is in talks to acquire TKP, the administration agency created by the Dutch posts and telecoms pension funds, in a bid to break into the Dutch larger pensions market. Price has not been disclosed.
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Germany: Eichel seeks wider pension contributions
GERMANY – Hans Eichel, Germany’s finance minister, has made further suggestions on how the state’s pension system should be changed. In an interview with ‘Focus’ magazine, Eichel explained that self-employed citizens, civil servants and politicians should be contributing to the country’s social security system for their retirement provision.
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European pension funds' FX costs are 'too high'
EUROPE – European pension funds could make significant savings by paying attention to the rates they are charged on foreign currency transactions, according to consultants Mercer Investment Consulting and Record Currency Management.
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UK: Hackney tenders mandates worth e710m
UK – The London Borough of Hackney has put out to tender a series of mandates, including a transition mandate, for the whole of its 450 million pound (710 million euro) pension fund. The scheme’s assets are currently managed in-house and by Barclays Global Investors (BGI) on a balanced basis.
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Standard Life launches UK mid-cap fund
UK - Standard Life Investments has launched a UK small and mid cap equity fund, targeting both retail and institutional investors, called the UK Opportunities Fund.
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UK faces claims over pensions protection
UK – The UK government could be open to legal claims for failing to implement an EU directive protecting the pensions of employees of firms that become insolvent.
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Commerzbank to sell US unit Montgomery
GERMANY – Commerzbank AG is to sell the greater part of its asset management activities of the US company Montgomery Asset Management in a bid to focus more on European asset management.
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UK's Close Bros expands private equity team
UK – Close Brothers Private Equity, private equity arm of the UK merchant bank Close Brothers Group, has hired two new investment managers as the private equity business has taken off, expanding the team’s headcount to 13.
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Calpers private equity performance faces scrutiny
US - Calpers, the US’s largest public pension fund, may have to reveal the performance data and stocks of its 20 billion dollars of private equity investments, after making the information secret last year.
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Fidelity launches US growth fund in Europe
EUROPE - Fidelity Investments International has launched an America Earnings Growth Fund, targeting institutional investors who want exposure to US larger companies with strong earnings growth potential. The fund will be available initially to investors in the UK, France, the Netherlands, Switzerland and Norway.
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Standard Life to launch UK real estate fund
UK – Standard Life Investments is to launch a UK commercial property income fund, underpinned by a portfolio of properties let on long leases. The fund is targeting an annual gross dividend yield of 6.5%, and is estimated to reach 250 million pounds (394 million euros) in size when ...
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EC proposes new investment directive
EUROPE - The European Commission has proposed a new directive addressing transparency, competition and securities trading which could allow investment firms to operate across the European Union effectively. The move would replace legislation dating back to 1993.
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Specialists oust Gartmore, Schroders at Worcester
UK - Gartmore Investment Management and Schroders Investment Management are the latest balanced portfolio managers to be dropped by a UK local authority in preference to specialist managers.
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CalPERS reappoints equity managers
US - CalPERS, America’s largest public pension fund, has reappointed its 15 external active international equity managers and its 11domestic equity managers for a further year, which combined manage approximately 20 billion dollars (20 billion euros) of the fund’s assets.
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UK: Intelek move prompts funding scrutiny
UK - Pension funds with large shortfalls need to look at new ways of meeting their funding requirements, says Tim Cox, a partner at law firm Linklaters. He was speaking in response to a move by a small UK telecoms equipment maker to grant its pension fund trustees a charge ...
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Powys awards co-managers for equity portfolio
UK – The Welsh County Council of Powys’ 160 million pound (251.5 million euro) pension fund has appointed AllianceBernstein and AXA Rosenberg to jointly manage its global equity portfolio, after Baring Asset Management (BAM) was dropped in January.
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UK to release pension proposals on November 27
UK - The UK government’s proposals on pension reform – in a so-called Green Paper - will be released on Wednesday November 27, according to a spokeswoman at the UK Treasury.
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Germany to set 15% tax on investment gains
GERMANY- German investors could find themselves facing a flat rate 15% capital gains tax on domestic equity and real estate investments. German finance minister Hans Eichel proposed the rate during coalition talks between the Social Democrats and the Green Party on Sunday evening.
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UK to tweak investment rules
UK - The UK Financial Services Authority is to introduce a series of changes to rules governing the interests of investors in investment companies, including investment trusts. An FSA spokesman says the move is in “reaction to pressure resulting from the split-capital trust issues” and will be “fast-tracked through”.
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Martin Currie wins e70m Daimler mandate
UK/GERMANY - US/German industrial group DaimlerChrysler’s pension fund has appointed Edinburgh-based Martin Currie to manage a new 70 million euro Japanese long-only equity mandate, adding to the 627 million euros of new business Martin Currie has won since the beginning of October.
