Investor Strategy – Page 194
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Credit Agricole gets €21bn of asset inflows
FRANCE – Credit Agricole says its asset management arm gained almost €21bn in inflows in the first half of the year.
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Capita buys pensions admin firm FPS
UK – Pensions administrator Capita Hartshead has acquired the FPS Group of Companies following “enormous change” in the UK pensions market.
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Dutch rail scheme SPF hires PGGM’s Varkevisser
NETHERLANDS – The €10.4bn Dutch railway pension scheme SPF has just appointed PGGM’s Jan-Theo Varkevisser as portfolio manager for fixed income and the treasury.
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350 jobs to go as Julius Baer buys banks
SWITZERLAND – Around 350 jobs, including possibly that of asset management chief Roman von Ah, look set to go with Julius Baer’s decision to buy four wealth management firms from UBS.
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German institutions ‘to seek lower hedge fees’
GERMANY – German institutional investors will increasingly pressure fund of hedge fund providers to cut management and performance fees, reckons consulting firm Faros.
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ING Real Estate chief quits over Polish complex
POLAND – Paul Trip, chief executive of development at ING Real Estate, has quit over problems at a shopping complex in Warsaw.
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COMMENT: Petroleum Fund up for grabs?
COMMENTARY – The head of the Norwegian central bank, Svein Gjedrem, appears to have dropped a hint about the future of the Petroleum Fund.
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Netherlands' Interpay outsources €265m scheme
NETHERLANDS - Payment processing firm Interpay has outsourced its entire €265m pension fund to SEI Investments, resulting in losses for incumbent managers ABN Amro and ING.
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TKP Pensioen real estate head retires
NETHERLANDS - TKP Pensioen’s head of real estate investments, Koos Gerlofs, has retired.
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UK's Cheshire awards tactical brief to Mellon
UK - Mellon Global Investments says it has been awarded a global tactical asset allocation by the £1.7bn (€2.5bn) pension fund of Cheshire County Council.
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Half of Germans oppose mandatory pension saving
GERMANY - Half of the population in Germany is opposed to the idea of being forced to save for retirement either on the corporate or private level, according to a new study unveiled by German independent financial adviser MLP.
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AMF Pension names Björkén to fixed income role
SWEDEN – AMF Pension has rejigged its fixed income management, with Bengt Björkén become acting head of fixed income and Lars Aberg taking an ALM role.
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Consultants’ insurance dilemma highlighted
US – The recent case bought against a consultant-owned insurer in the US has highlighted the increasing problems firms face in securing insurance coverage.
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Iceland: €2.7bn pension fund merger talks fail
ICELAND – Talks to engineer the merger of two of Iceland’s largest pension funds have proved abortive.
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Man Investments CEO Chambers quits
UK - Man Investments’ chief executive Chris Chambers is stepping down at the end of the month after three and a half years at the alternative investments firm.
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Irish postal scheme in €1.6bn revamp
IRELAND – The €1.6bn pension scheme of the Irish postal service An Post has restructured its manager roster with the help of consulting firm Mercer.
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Achmea, Interpolis get OK for merger
NETHERLANDS – The Dutch competition authority has approved the previously announced merger between pension management firms Interpolis and Achmea.
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AP2, Alecta execs join Handelsbanken committee
SWEDEN – Representatives from Swedish pension bodies AP2 and Alecta have been appointed to a board election committee at banking group Handelsbanken.
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‘No reason to celebrate’ for Swiss funds
SWITZERLAND – Despite a more than 6% return in the first half, Swiss pension funds have no reason to celebrate due to low bond yields, says the Swiss pension fund association ASIP.
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Norway’s Kvaerner embroiled in UK pension row
UK – Norwegian industrial holding group Kvaerner ASA has become embroiled in a row over its relationship to the Kvaerner Pension Fund (KPF), the UK pension plan of the former Trafalgar House.
