Markets – Page 206
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Dutch schemes losing out on bonds - statistics
NETHERLANDS – Dutch pension funds and insurers’ fixed income portfolios returned –0.2% in the third quarter of 2005, according to the national statistics office.
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Ilmarinen’s Puhakka to join OKO Pohjola AM
FINLAND – Jari Puhakka, head of securities at Ilmarinen Mutual Pension Insurance Co., has left to join the new OKO-Pohjola Asset Management Co.
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IPE-QUEST: European bank seeks Japan advisor
EUROPE – A European bank has tendered for a Japanese equities advisor via IPE-Quest.
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ATP named best European pension fund 2005
EUROPE – Denmark´s ATP has been named overall Best European Pension Fund in 2005 at the annual IPE Awards in Berlin. It was also named Best European Public Pension Fund as well as scooping the top award for Denmark and risk management.
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MEAG targets third-party growth
GERMANY – MEAG, the asset management arm of reinsurance giant Munich Re, plans to expand its third-party business by between 25-30% annually, according to Robert Helm, managing director at MEAG responsible for third-party business.
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KPN reaches new pension agreement
NETHERLANDS -- Telecoms giant KPN has reached a new two-year collective labour agreement (CAO) with Dutch trade union ABVAKABO FNV under which in addition to a structural salary increase of 1.5% from January 2006 and 1.5% from January 2007, KPN has agreed to pay 2% of a salary into the ...
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KarstadtQuelle denies pension trust report
GERMANY – KarstadtQuelle, Germany’s second-biggest retailer, has denied that it is tapping its own contractual trust arrangement (CTA) for €200m in capital to reduce long-term debt.
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MSIM hires ex-GSAM European equities co-CIO
EUROPE - Hywel George, former co-chief investment officer of European equities at Goldman Sachs Asset Management, has joined rival Morgan Stanley Investment Management.
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ABP cuts pension premiums in unexpected move
NETHERLANDS – ABP, the largest Dutch pension fund, says its pension costs for members will be lower than last year.
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Lloyd’s scheme opts for Northern Trust
UK – The £365m (€534m) Lloyd’s Superannuation Fund has awarded an exclusive global custody and performance measurement brief to Northern Trust.
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Petroleum Fund funds seven new mandates
NORWAY – The NOK1.28trn (€161.3bn) Petroleum Fund transferred capital into two fixed income and five equity mandates in the third quarter.
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EADS taps Invesco for overtime accounts
GERMANY – European aerospace and defence giant EADS has confirmed that Invesco’s German arm will set up and manage so-called “overtime accounts” for all its employees in Germany.
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BASF’s Belgian pension director steps down
BELGIUM – Sven Van Wichelen, director of the Belgian pension fund for German chemical giant BASF, is stepping down as of 1 December, the fund has confirmed.
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SEI sees 25% European growth
EUROPE – SEI, the US-based multi-manager fund provider, expects to grow its business in Europe by 25% annually, with nearly all of that growth taking place in the UK, its managing director for Europe says.
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IPE-QUEST: Danish fund tenders Japan equities
DENMARK – Kirstein Finans has tendered up to €100m in large-cap Japanese equities on behalf of a Danish pension fund via IPE-Quest.
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Capital International targeting Eastern Europe
EUROPE – Capital International, the reclusive asset manager that has been hit by some client withdrawals recently, says Eastern Europe is an area of “significant potential and interest”.
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Allianz Global Investors names top execs
EUROPE - Allianz Global Investors has made some senior appointments as it unveils its new European subsidiary.
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State Street fined $1.4m for trading violations
US – State Street has been fined a record $1.4m (€1.2m) by markets regulator NASD over violations in bond trade reporting.
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Horeca in €100m private equity move
NETHERLANDS - The €2bn Dutch hotel and catering scheme, Pensioenfonds Horeca en Catering, has awarded two €50m private equity mandates to Goldman Sachs Private Equity Group and HarbourVest Partners.
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IPE-QUEST: North American equities tendered
DENMARK - Kirstein Finans has tendered around $100m (€85.4m) in active North American small/mid-cap equities via IPE-Quest.
