All articles by Jan Wagner – Page 28
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Features
E.ON to set up external CTA
German energy giant E.ON is to remove up to €5.4bn in pension liabilities from its balance sheet and finance them via an external fund. The construction of the fund, known as a contractural trust arrangement (CTA), is to be completed in 2006. E.ON announced the move with its recent first-half ...
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News
Invesco taps UBS’s Salzmann as Swiss head
SWITZERLAND - Invesco has named Marcel Salzmann, a former manager at rival UBS Global Asset Management, as its new head of Switzerland.
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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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Citigroup in German hedge fund move
GERMANY - The German investment arm of Citigroup has teamed up with a German and an Austrian private bank to launch one of Germany’s first single hedge funds.
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Aon under fire for Berne scheme deficit
SWITZERLAND - Investment consultant Aon Chuard has denied it is partly to blame for a more than CHF1bn (€646m) deficit at Berne teachers pension fund BLVK.
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Siemens hires BodeHewitt for pensions advice
GERMANY – Industrial giant Siemens has hired BodeHewitt, the new venture between consulting firm Hewitt Associates and Bode Grabner Beye, as its pensions and actuarial consultant in Germany.
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German pensions market taking off – Allianz
GERMANY - Allianz Leben, the life insurance arm of Allianz that is a major provider of German corporate pensions, has provided more evidence that the market is – at least for insurers – beginning to take off.
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Germany: 2005 is the year of the Riester - AMB
GERMANY – This year is becoming the year of the Riester, says insurer AMB Generali – though the other private pension, the Rürup-Rente, is not so hot.
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Mellon eyes stake in WestAM – FT
GERMANY – Mellon Financial Corp. is considering taking up to a 50% stake in WestAM, a German institutional fund provider that specialises in fixed income, according to the Financial Times.
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Germany’s AWD sees growth in corporate pensions
GERMANY - Financial services firm AWD says its first-half results show it is on track to lifting the share of corporate pension products to 10% of total sales by the end of this year.
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Deutsche warns on German demographics
GERMANY - Germany’s labour force could shrink by as much as a fifth by 2050, which could worsen the demographic problem and hinder economic growth, according to a new research report from Deutsche Bank.
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Germany’s Merkel names pensions shadow
GERMANY - Ursula von der Leyen, a little-known social affairs ministers in the state of Lower Saxony, could be Germany’s next minister for pensions if the CDU/CSU wins the federal election on September 18.
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Germany’s DIW calls for higher retirement age
GERMANY - A leading economist has called for the retirement age to be lifted to 70 by 2015 at the earliest to ease the tremendous pressure on Germany’s state-run pay-as-you-go pension scheme.
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Low rates hit German industry schemes
GERMANY - German industry schemes known as Versorgungswerke have reported a slight decline in the annual return on their investments owing to low interest-rates.
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CSAM Germany institutional assets up 23%
GERMANY - The German arm of Credit Suisse Asset Management has reported a 23% rise in institutional assets under management during the first half.
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News
E.ON to set up €5bn fund for pensions
GERMANY - Energy giant E.ON is to remove up to €5.4bn in pension liabilities from its balance sheet and finance them via an external fund.
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News
Bayer gains €200m from shift to DC in the US
GERMANY – Industrial giant Bayer expects to gain a one-time bonus of €200m in the third quarter, mostly as a result of changes to its US pension plan.
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Row looms between German consultants, managers
GERMANY – A row is looming in Germany as investment consultants complain that asset managers are trying to break into their market – a charge that managers deny.
