All articles by Jan Wagner – Page 17
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Features
Saxony-Anhalt plans to launch pension fund for civ
The eastern German state of Saxony-Anhalt plans to set up a pension fund for its civil servants from 2008, saying the move is necessary to relieve long-term pressure on its budget. Saxony-Anhalt employs around 2,600 civil servants who have a right to a future state pension. By 2020, it estimates ...
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Features
German association fears for corporate pensions
Boy-Jürgen Andresen, chairman of German occupational pensions association Aba, has warned that the further development of corporate pensions in Germany is in peril unless the government prolongs a social tax exemption for defined contribution schemes. The social tax exemption for the DC schemes, created by the Riester reforms of 2001, ...
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News
Union Investment offers overtime accounts
GERMANY – Union Investment has become the latest German fund manager to offer so-called ‘overtime accounts’ – a vehicle that can be used by employees to finance early retirement.
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News
Germany’s Feri and MLP intensify cooperation
GERMANY – Investment consulting and wealth management firm Feri Finance has agreed to intensify its asset management and investment product tie with independent financial advisor MLP.
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Institutional chief quits Germany’s Ampega
GERMANY – Ampega AG, the asset management arm of German insurer Talanx, has confirmed that Harald Schnorrenberg, head of Ampega’s institutional business, is resigning as of June 30.
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Swiss teachers fund BLVK rejects legal action
SWITZERLAND – The CHF4.6bn (€2.95bn) Berne teachers pension fund BLVK says it won’t take legal action against those deemed responsible for its financial woes – despite calls from members.
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Metzler says German pensions business booming
GERMANY – Metzler Asset Management says its German corporate pensions business is booming, with contributions from the business set to more than double to €250m in 2006 from €105m in 2005.
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German Pensionskassen get insolvency protection
GERMANY – The insurance industry has launched a new €500m insolvency protection fund which so-called ‘de-regulated’ Pensionskassen (traditional pension funds) may join on a voluntary basis.
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German corporate pension assets rise 4.1%
GERMANY – Corporate pension assets in Germany totalled €381bn at the end of 2004, up a moderate 4.1% from €366bn a year earlier, according to the statistics from German occupational pensions association Aba.
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News
Cominvest replaces chief investment officer
GERMANY - Cominvest, the asset management arm of Commerzbank, has replaced its chief investment officer Wolfram Gerdes – less than a year and a half after he joined from Allianz.
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Towers Perrin teams up with Germany’s Gassner
GERMANY – Rauser Towers Perrin has further expanded its presence in Germany’s occupational pensions market by teaming up with Gassner and Partners, a Stuttgart-based pensions and actuarial advisor.
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Germany’s BPS-PT to sell pension-backed bonds
GERMANY – The Bundes-Pensions-Service für Post und Telekommunikation, a pension fund for former postal and telecoms employees, has confirmed plans to sell another €7.5bn worth of euro-denominated bonds backed by pension obligations.
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News
German Spezialfonds grow by €46bn – BVI
GERMANY – Investor inflows to German institutional funds (Spezialfonds) in the year to March 31 totalled €46bn, helping to bring the total volume of these funds to €635bn, according to German fund industry association BVI.
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News
Publica to use surplus to boost reserves
SWITZERLAND – Publica, one of Switzerland’s biggest pension funds, says it achieved surplus earnings of CHF1.76bn in 2005 but will use the money to build up reserves instead of paying it out to its insured members.
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News
German schemes on sidelines at Bund auction
GERMANY – The government has completed the sale of €8bn worth of new 10-year bonds, but German pension funds queried by IPE say they did not directly take part in the auction.
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ING IM to re-enter German institutional market
GERMANY – The asset management arm of Dutch bank ING says it is planning to open an office in Germany – most likely Frankfurt – for a renewed assault on the German institutional market.
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News
Germany’s Riester demand continues to surge
GERMANY – Demand for the ‘Riester-Rente’, a government-subsidised private pension launched in 2002, continued to surge in the first quarter, pushing the total number of contracts above 6mn, the government has reported.
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News
Sal. Oppenheim buys into UK hedge funds
GERMANY – Sal. Oppenheim, a German private bank, has acquired sizeable stakes in London-based hedge fund providers Attica Alternative Investments (AAI) and Integrated Asset Management (IAM). Financial details were not disclosed.
