Investor Strategy – Page 178
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EU fund industry ‘outdated’
EUROPE – The EU fund industry is not correctly equipped to respond to the challenges of strong competition for investor savings and a rapidly evolving demand for investment products, according to a report to the European Commission.
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Credit Agricole makes three senior AM appointments
EUROPE - Credit Agricole Asset Management has appointed three senior executives, including an equity investment chief and strategy head, in a bid to strengthen its Paris-London-Milan links.
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HDI’s Stoeckl moves to UNED
GERMANY – UNED AG, a specialist in developing financial products for insurers, banks and fund companies, has recruited Michaela Stoeckl from corporate pensions adviser HDI Pensionsmanagement.
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Pension funds could buy 20% government stake in Schiphol
NETHERLANDS – Government is planning to sell close to a third of its stake in Schiphol airport to institutional investors, according to Dutch finance minister Gerrit Zalm.
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AP2 in €469m fundamental index shift
SWEDEN - Andra AP-fonden, the roughly SEK190.6bn (€20.5bn) Second Swedish National Pension Fund (AP2) today announced it has allocated 15% of its US equity portfolio to fundamental indexation.
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DeAM names Roemer institutional chief
GERMANY – Peter Roemer has left Crédit Suisse Asset Management to join Deutsche Asset Management as its new head of European institutional business with immediate effect.
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Dutch government turmoil could hit FTK
NETHERLANDS – The collapse of the Dutch centre-right government last night could delay the implementation of the new Financial Assessment Framework, or FTK, pension experts have warned.
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Mercer partner Cowling quits to join JLT arm
UK – Charles Cowling, long-term worldwide partner at Mercer Human Resources Consulting, has quit to join pensions advisory outfit Pension Capital Strategies (PCS) as managing director.
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Commerzbank creates CTA for pension liabilities
GERMANY – Commerzbank has established a contractual trust arrangement (CTA) to fund its pension liabilities, thereby removing them from its balance sheet.
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CalPERS JV to target Spanish holiday homes
REAL ESTATE - The California Public Employees' Retirement System (CalPERS) is to invest in Mediterranean holiday homes via a €231m fund set up with private US developer Hines.
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AP2 appoints new CIO and strategist
SWEDEN - Andra AP-fonden, the roughly SEK190.6bn (€20.5bn) Second Swedish National Pension Fund (AP2) today appointed a new chief investment officer and chief investment strategist (updated).
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Netherlands to force funds to disclose voting
NETHERLANDS - Dutch Finance Minister Gerrit Zalm wants to force pension funds, insurers and banks to disclose the way they vote at company annual general meetings.
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Watson Wyatt hires Aon’s Hoile
UK - David Hoile, head of Aon Consulting’s UK investment research division, has quit to join Watson Wyatt Investment Consulting’s asset research team.
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Merrill launches swap indices for pension funds
GLOBAL - Merrill Lynch has launched a new swap index series to help cater for the trend towards liability-driven investing by pension funds.
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IPE-QUEST: Dutch fund tenders fiduciary
NETHERLANDS – Consulting firm Avida International is looking for fiduciary managers for a multibillion-euro Dutch pension fund client via IPE-Quest.
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Austria’s ÖPAG to increase DC benefits
AUSTRIA – ÖPAG, one of Austria’s multi-employer pension funds, says that following a good performance in 2005, it will increase pension benefits for members in its defined contribution plan by between 0.5% and 2.5%.
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London pension fund to review arms investing
UK – The roughly £3.3bn (€4.8bn) London Pension Fund Authority will review its investment in arms manufacturing companies at a public board meeting next week.
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PPM tenders fund rating services
SWEDEN - Sweden’s Premium Pension Authority, PPM, says it intends to purchase fund rating services.
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Lane Clark parent gets private equity approach
UK – Alexander Forbes, the South African-based parent company of UK actuaries Lane Clark & Peacock, is in talks with private equity investors about a sale of the entire group.
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BIG forms private equity joint venture
IRELAND – Financial services outfit Bank of Ireland Group (BIG) has formed a joint venture with US private equity specialist Paul Capital Partners to provide private equity fund of funds products and advisory services to institutional and other investors worldwide.
