All articles by Hugh Wheelan – Page 37
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Eureko gets Polish pensions green light
POLAND – The Polish treasury has finally settled its lengthy dispute with pan-European financial group Eureko by giving it the go-ahead to purchase a further 21% stake in the privatised Polish insurance group PZU, which covers 60% of the domestic market….
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Watson Wyatt appoints new head of research
UK – Consultant Watson Wyatt has appointed noted academic Michael Orszag to a new role within the group as head of research...
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Dresdner RCM adopts United Nations SRI standard
UK- Dresdner RCM Global Investors has signed an exclusive agreement with the United Nations Association Trust, the UK charitable and educational arm of the United Nations (UN), to formally adopt the UN’s ‘Global Compact’ SRI benchmarks as the basis for its own SRI screening process....
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Morley challenges green credentials of FTSE 100
UK – Morley Fund Management, the investment management arm of insurer CGNU, has introduced a requirement in its corporate voting policy for FTSE 100 companies to produce environmental reports on their business activities or risk being voted against at their AGMs....
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Employers should pay into stakeholder, says report
UK – The Industrial Society, the UK social affairs think-tank, has called for employer contributions to be made compulsory for the fledgling stakeholder pensions system...
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Swiss funds beat benchmarks for 2000
SWITZERLAND - Swiss pension funds in the ASIP/Watson Wyatt performance universe managed to outperform two of their three performance benchmarks in 2000….
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UK pension surplus ruling to go to European courts
UK – The ruling by the House of Lords (April 5) that electricity supply company, National Grid, may use its pension fund surplus to pay for redundancies through enhanced early retirement, is likely to be challenged in the European courts....
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UK firms still confused despite stakeholder launch
UK – Confusion still reigns amongst small businesses in the UK over their obligations for stakeholder pensions, despite today’s launch of the new pensions system in the UK (April 6).
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BFr2bn sector fund starts outsourcing
BELGIUM – Agoria, formerly FabriMetal – Belgium’s first sector-wide pension fund, for employees working in metal related industries, will begin transferring BFr2bn (e50m) in assets to four money managers next month, in a move which will be scrutinised by other industry sectors in the country considering creating pension funds on ...
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French companies shift to long-term savings plans
FRANCE – Almost a third of French employers are currently considering the adoption of long-term employee savings plans under new regulation passed in February...
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Former Goldman's chief joins mPower Europe
UK/EUROPE – Charlie Metcalfe, the former head of Goldman Sachs Asset Management’s UK and Northern European business, has joined mPower Europe, the electronic investment services advisor, as managing director in the UK...
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Belgian schemes call for dynamic funding policy
BELGIUM – The Belgian Association of Pension Funds (BAPF) is lobbying the government to introduce a dynamic minimum funding requirement (DMFR) for pension schemes under its new legislation....
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Dutch schemes will not meet 2001 Z-score target
NETHERLANDS – Frans Prins, director of the Dutch Association of Industry-wide pension funds (VB) believes a number of schemes will drop below the minimum Z-score level next year, when the first performance test will mean that employers can opt out of the compulsory system....
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Dutch metalworkers fund markets to third parties
NETHERLANDS - Mn Services – the pension fund manager for the NLG40bn (e18bn) Dutch metalworking, pipe, mechanical and automotive trades (BPMT), has formally split its direct relationship with the fund and will begin marketing its pension management services to third party institutions...
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VB calls for level playing field on Z-score
NETHERLANDS – The VB Dutch Association for Industry-wide Pension Funds has called for all Dutch pension funds and insurance companies managing pension assets to be made to compare their performance against a Z-score type benchmark....
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VB predicts industry scheme flight to passive
NETHERLANDS – Dutch pension funds may be forced to adopt increasingly passive investment strategies or conversely take undue investment risks if the five-year period of performance testing for the Z-score is not extended....
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Watson Wyatt launches customised pensions service
UK – Consultant Watson Wyatt has rolled out a customised investment service for UK pension funds, including manager selection options and performance related fees, which it says it will introduce into European markets where appropriate....
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BNP Paribas buys currency overlay specialist
FRANCE – BNP Paribas Asset Management (BNP PAM) has taken a majority stake in Overlay Asset Management (OAM), the Paris based Franco-Swiss currency overlay specialists, as part of the development of its alternative investments business...
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ING appoints Goldberg to supervisory board
NETHERLANDS – Dutch financial services group ING is set to appoint prominent US life insurance figure, Luella Gross Goldberg, as a member of its supervisory board...
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Allianz/Dresdner could create e1trn asset manager
GERMANY - The proposed merger between Allianz, Germany’s largest insurance company and Dresdner Bank, could create an investment management powerhouse with almost e1trn in assets under management, according to sources close to the deal....
