All articles by Jan Wagner – Page 26
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Features
Breaking the stranglehold
One of the myths about Germany is that it is becoming less attractive to foreigners wanting to do business. Spreaders of the myth – typically neo-liberal-minded industrialists, economists and politicians – say that unless Germany lowers its labour costs, cuts its taxes and streamlines its bureaucracy, it will attract fewer ...
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Features
Pensionsfonds bright future
Aleading German pensions adviser, Richard Herrmann of consulting firm Heubeck, sees a strong future for German Pensionsfonds. The funds - Germany’s answer to the equity-oriented Anglo-Saxon pension fund - should double their assets every two years now that the government has boosted their competitiveness, he says. In implementing the EU ...
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Features
Pensions in a state of insecurity
Norbert Blüm, a former Conservative labour minister, once committed one of Germany’s best-known political gaffes by claiming that the state pension was “secure”. While Blüm had good intentions – meaning to say that payment of some pension was guaranteed – he probably should have realised that his remark would be ...
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Features
Managers making their mark
To get an idea why the US investment bank Goldman Sachs is widely respected, consider what it has achieved in Germany since arriving there 15 years ago. Goldman Sachs, which runs a smallish operation in a skyscraper next to Frankfurt’s trade fair, has for years consistently been at the top ...
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News
Regulator issues Pensionskassen SRI guidelines
GERMANY – So-called ‘deregulated’ Pensionskassen will have to create a supervisory board for their business and disclose to what extent, if at all, they are engaged in socially responsible investments (SRI).
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News
German government hails 2nd-pillar figures
GERMANY – The government has cheered the results of a new study showing that in mid-2004, around 60% of German salaried employees owned some type of corporate pension.
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News
Call for German schemes to adopt governance code
GERMANY – Professor Wolfgang Gerke, a financial expert who recently unveiled a corporate governance code for asset managers, has called for the code to be embraced by German pension funds.
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News
Universal sees slow demand for multi-management
GERMANY - Demand for multi-manager funds in Germany remains sluggish, partly because institutions want to influence the way their assets are invested, says Universal-Investment.
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News
German Pensionskassen to cut rate of return
GERMANY – Pension funds tied to German insurers are likely to reduce their guaranteed return on contributions to 2.25% in 2007 from 2.75% now.
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News
Swiss association in guaranteed return plea
SWITZERLAND – Pension fund association ASIP has urged the government to lower the guaranteed return on pension contributions, insisting that the move is critical to improving the financial health of its members.
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News
Schering puts extra €450m into external fund
GERMANY – Pharmaceuticals company Schering has removed another €450m in pension liabilities from its balance sheet so that they can be financed by its contractural trust arrangement (CTA).
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News
New pensions portability plan facing criticism
EUROPE – The European Commission’s new pensions portability proposal – officially unveiled today - has come in from criticism from several quarters.
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SPD’s Müntefering takes over pensions
GERMANY – Franz Müntefering, chairman of the Social Democrats, will replace Ulla Schmidt as the minister in charge of pensions in the new conservative-led government of Chancellor Angela Merkel, the SPD has confirmed.
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News
Cominvest gets new chief executive
GERMANY – Commerzbank has created a new management board for its asset management division and named a new chief executive for German fund arm Cominvest in a bid to revive the division’s sagging fortunes.
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News
BASF sets up €3.7bn pensions trust
GERMANY – Chemical giant BASF has announced that it will remove €3.7bn in pension liabilities from its balance sheet and fund them via a contractural trust arrangement (CTA) by the end of 2005.
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News
Universal’s sales chief Hartmann leaves
GERMANY – Universal Investment, a leading administrator of institutional funds, has confirmed that Sven Hartmann, head of sales and client relationships, is leaving (Clarifies job titles).
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News
Row erupts over German master funds
GERMANY – The head of investments at German insurer VHV has blasted German master funds, saying they haven’t delivered on their promises.
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News
Commission set to present portability directive
EUROPE – The European Commission is set to approve a delayed occupational pensions portability directive on October 20 - yet the document has already drawn fire from Germany’s occupational pensions lobby Aba.
