All articles by Hugh Wheelan – Page 34
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BAV examines equity quota for new German pensions
GERMANY – The Bonn based BAV German insurance regulator is putting together proposals that could liberalise investment for insurance companies and move the country’s newly ratified ‘pensionfonds’ vehicle more in line with the forthcoming European directive on pension funds....
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European pensions growth more polarised
EUROPE – Private sector pension assets have grown to around 40% of total GDP in Europe, a rise of almost 10% on the level of four years ago, according to figures produced by consultant William M. Mercer in its annual European Pension Fund Managers’ Guide....
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Specialist mandate boom in UK but not Europe
UK/EUROPE – UK pension funds have increased the number of specialist investment mandates they use by a significant 31% over the last two years, although figures in Continental Europe have yet to follow suit with only a three per cent rise over the same period...
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Domestic pension investment falls to less than 50%
EUROPE – Domestic to eurozone investment amongst European pension funds has undergone a major shift with domestic assets now representing less than 50% of European exposure for eurozone based pension funds, according to the latest European Pension Fund Managers Guide for 2001/02....
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NAPF calls for Myners to be made 'more workable'
UK – The National Association of Pension Funds (NAPF) has issued a response to the recent Myners report on institutional investment, seeking changes to make the report “more workable”....
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BGI Europe's biggest as passive trend rolls on
EUROPE – Barclays Global Investors (BGI) has retained the top slot as Europe’s largest pensions asset manager, recording annual growth of $8bn in assets from $107bn to just over $115bn, according to consultant William M.Mercer’s figures for 2000-2001....
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Deutsche lands DM2.2bn custody from Wackerchemie
GERMANY – Deutsche Bank Global Securities Services has picked up a DM2.2bn (e1.1bn) custody brief from the pension fund of chemical firm Wackerchemie, following the withdrawal of Credit Suisse from the German depository market....
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Deutsche names head of European pension strategies
EUROPE – Des MacIntyre has joined Deutsche Asset Management (DeAM) in London as director and head of European pension strategies....
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ABP looks to property and hedge funds
NETHERLANDS – Dutch superfund, the NLG331bn (e150bn) Heerlen based ABP pension plan for Dutch civil servants and teachers, says it is considering increasing its allocation to real estate investment and will also shortly announce appointments to a number of hedge fund mandates as part of an e2bn hedge programme....
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German fund management reform may open up market
GERMANY – Proposed changes to legislation on the outsourcing of investment advice by German capital investment companies (KAGs) could open up the country’s institutional investment market for domestic and foreign third-party providers....
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ABP on course for equity increase despite markets
NETHERLANDS – Europe’s largest pension fund, the NLG331bn Heerlen based ABP pension fund for Dutch civil servants and teachers, says it is on course to complete its increased exposure programme to equity, despite taking a hit on its funding buffer last year due to the adverse market conditions....
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EC says lack of pension reform may harm euro
EUROPE – EC internal market Commissioner, Frits Bolkestein, has given his sternest warning yet that a lack of pensions reform in Europe could jeopardise the future of the euro....
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Member State in European pensions tax court case
EUROPE – European Commissioner Frits Bolkestein has announced that a number of member states are already facing the possibility of legal action in the European Court of Justice (ECJ), following the publication of last month’s communication on cross-border tax discrimination for supplementary pensions....
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Bolkestein urges reporting of tax discrimination
EUROPE – The European Commission is urging companies and employees to report any cases of tax discrimination concerning the transfer of occupational pension schemes between member states....
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Dutch Origin fund in huge investment restructure
NETHERLANDS – The e400m Utrecht based pension fund of Dutch communications group Origin - the former IT subsidiary of electronics group Phillips - has undergone a mammoth investment restructuring, almost halving its exposure to Phillips owned asset manager Schootse Poort in favour of a range of specialist mandates....
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Belgian dockers get new sector pension fund
BELGIUM - Belgian dockworkers have won agreement from employers to set up a new sector-wide pension arrangement with contributions of two per cent of wages per annum paid into the plan....
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Ir£5bn reserve fund appoints Mercer for strategy
IRELAND - The newly created Ir£5bn (e6.35bn) National Pensions Reserve Fund, the war chest the government hopes will plug the future hole in its social welfare and civil service pension payments, has appointed consultant William M. Mercer to outline the fund’s future investment strategy....
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Robeco to launch hedge fund of funds product
NETHERLANDS – Rotterdam based Robeco Alternative Investments is to launch a hedge fund multi-manager structure in September/October this year, to meet institutional and private client demand for guaranteed products linked to hedge funds...
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VKG announce top pension payment and new structure
BELGIUM – CPM-VKG, the e500m Brussels based pension fund for doctors, dentists and pharmacists, has set up a new executive committee for the scheme in a bid to guarantee long-term stable performance and improve the fund’s management structure....
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German DC 'AS-fonds' return 2% for 2000
GERMANY – AS-fonds, Germany’s third pillar DC savings plans returned an average of two-per cent last year in spite of the market turbulence, according to the Frankfurt based BVI funds regulator....
