All articles by Hugh Wheelan – Page 13
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European Parliament to pass pensions tax bill
EUROPE – The European Parliament was today expected to pass with a clear majority the report on the elimination of tax obstacles to cross-border provision of occupational pensions by Dutch MEP Ieke van den Burg....
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Scottish Widows/Russell strike multi-manager deal
UK - Scottish Widows and Frank Russell have announced a strategic alliance to offer a ‘best of breed’ multi-manager investment programme to UK personal investors....
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Kottmann creates new Swiss consultancy
SWITZERLAND - Felix Kottmann, the former member of the executive committee at Swiss consultants Complementa, who left the firm earlier this year, has set up his own consultancy firm, Kottmann Advisory, with the aim of providing customized services to a selected group of international institutional and private clients in Switzerland....
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Sweden's Carlson gains global GIPS compliance
SWEDEN – Stockholm-based Carlson Investment Management has announced that the company now presents performance results in compliance with the Global Investment Performance Standards (GIPS)...
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INVESCO cleans up with Twyford Bathrooms mandates
UK - INVESCO Pensions has been awarded a three-part mandate by Twyford Bathrooms, following the establishment of new pensions arrangements for Twyford’s 900 plus employees after its recent acquisition by the Sanitec Group....
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First full details of huge $8bn fixed-income RFP
NORWAY - The NOK547bn (e68bn) Norwegian Government Petroleum Fund has issued one of the world’s largest ever fixed-income RFPs seeking 14 mandates for between $5-8bn of assets, with the initial tender process being run through the IPE-Quest electronic manager selection system.....
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Unilever and Merrill Lynch settle out of court
UK - Merrill Lynch and the Unilever Superannuation Fund (USF) have reached an undisclosed out of court settlement in their high profile £130m (e210m) court battle over the management of some £1bn in Unilever pensions money during the 1990’s by Mercury Asset Management (MAM) – now owned by Merrill.
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ECJ starts cross-border pensions tax hearing
FINLAND/EUROPE – The first cross-border pensions court case to be considered by the European Court of Justice (ECJ) following the publication of EC internal market Commissioner Frits Bolkestein’s communication on tax for cross-border pension arrangements, had its first hearing before the ECJ today.....
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Unilever/Merrill judge warns on cost of litigation
UK – The judge presiding over the Unilever/Merrill Lynch court case, which was settled out of court today, has warned city firms and commercial entities embarking on such high profile litigation to consider the consequences of putting such cases before the high court without full and proper mediation....
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Vanguard hires Dutch pension fund manager
BELGIUM/NETHERLANDS – Brussels-based Vanguard Investment Europe has made a sortie into the Dutch pensions market to recruit a new marketing executive with the hire of Olof Könst, a fund manager from Rijswijk-based metalworkers fund managers, MN Services....
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Mercer signs up AXA institutional chief as partner
UK/EUROPE - Kathryn Matthews, the former global head of institutional business at AXA Investment Managers, has joined consultants William M. Mercer as a senior consultant and European Partner.....
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BVCA initiates 'valuation' working party
UK/EUROPE – The British Venture Capital Association (BVCA) has set up a working party to examine issues surrounding valuation guidelines, consulting widely across Europe with member firms, investors, the European Venture Capital Association (EVCA), and the accounting profession amongst others....
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PGGM announces new 'Careon' insurance arm
NETHERLANDS – The e48bn PGGM pension fund for the Dutch healthcare sector has re-branded its insurance division as Careon, in line with legislation to come into the Netherlands from January 1 next year....
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European Union adopts new UCITS directives
EUROPE – ECOFIN, The European Council of Finance Ministers has adopted the two European Directives to expand the market in unit trusts and UCITS (Undertakings for Collective Investments in Transferable Securities)....
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AXA IM serves up new institutional pooled funds
UK - AXA Investment Managers (AXA IM) has launched a new institutional range of pooled pension funds....
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Petroleum fund issues huge $5-8bn fixed income RFP
NORWAY – The NOK547bn (e68bn) Norwegian Government Petroleum Fund has issued one of the world’s largest ever fixed-income RFPs for an expected 15 managers with the size of the mandates varying from $100m to $1bn....
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Nine managers win Petroleum fund equity mandates
NORWAY – The NOK547bn (e68bn) Norwegian Government Petroleum Fund (Petroleumsfondet) has appointed a raft of nine new managers to small and mid cap and sector driven equity mandates....
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AP7 starts phase two of alternatives RFP
SWEDEN - The e2.3bn AP7 fund has received proposals from 135 managers for tenders worth around e180m in hedge fund and private equity assets and will today (December 4) begin sending out the second phase questionnaire for the RFP process to all the managers....
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Austrian fund fusion creates ATS21bn giant
AUSTRIA - The Vienna based ATS3.8bn (e280m) Verbund Pensionskasse, the pension scheme for Austria’s largest electricity company, has announced that it is to merge with the ATS 17bn (e1.3bn) OEPAG Pensionskassen, one of the country’s seven open funds, in an effort to cut costs and concentrate on its core business.... ...
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European pension schemes join Burma action group
EUROPE - A group of European financial institutions including the £21bn (e33.5bn) UK Universities Superannuation Scheme (USS) and e48bn Dutch superfund PGGM have formed an action group to raise concerns about investment in Myanmar – formerly known as Burma....
