All articles by Meagan Rees – Page 12
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Hermes’ Mustoe sees “cult of the alternative”
UK – The investment industry is about to see the “cult of the alternative”, according to Hermes’ chief investment officer and deputy chief executive Nick Mustoe.
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Somerset council scheme axes Hewitt
UK – Hewitt Associates has been axed as actuary and investment consultant to the £960m (€1.4bn) Somerset County Council pension fund.
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Citibank loses €13bn F&C pooled assets brief
NETHERLANDS – Citibank has lost out on a €13bn pooled assets mandate with F&C Netherlands – the mandate was awarded to ABN Amro Mellon following a market survey by the asset manager.
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Lane Clark parent hit by fraud case
SOUTH AFRICA – The South African parent company of UK actuaries Lane Clark & Peacock has become embroiled in a case involving the alleged illegal use of pension fund surpluses.
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UK council workers to strike over pensions
UK – Demands by unions ahead of tomorrow’s mass council pension strike could cost every council taxpayer “at least” 2% extra per year, warned the Local Government Association.
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BA trustees tap PWC for sponsor covenant role
UK – British Airways’ pension scheme trustees have appointed PricewaterhouseCoopers to advise them following BA’s plans to slash its £1.4bn (€2bn) pension deficit – among the largest scheme deficits in the country.
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DC schemes get low scores from Watson Wyatt
GLOBAL – Watson Wyatt has awarded the current investment sophistication of defined contribution schemes very low grades.
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Antwerp’s Nijlen fund seeks asset manager
BELGIUM – The €1m Gemeentebestuur Nijlen local council pension fund is tendering for its first pension fund investment manager.
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Unilever Progress scheme returns 19.4%
NETHERLANDS – The €3.8bn Dutch-based Unilever Progress Pension Fund achieved a 19.4% total return on investments in 2005 – up from 8.7% in 2004.
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Swiss managers lose out at Dorset
UK – Swiss investment managers have lost out on managing assets worth roughly £59m (€85m) following a recent investment review by the £1.2bn Dorset County Council Pension Scheme.
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Sainsbury fund to put 5% into commodities
UK – The £3.8bn pension scheme of retailer Sainsbury plans to invest 5% in commodities by the end of June 2006.
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MLIM loses €537m equity brief at AP4
SWEDEN – Merrill Lynch Investment Managers has been axed from a €537m financial sector equity passive mandate by the SEK180.1bn (€19.2bn) Fourth Swedish National Pension Fund or AP4.
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Deutsche Post names group pensions director
GERMANY – Benedikt Köster, former international pension accounting chief in Germany for Aon Jauch & Huebener Consulting, has been appointed director of group pensions at Deutsche Post.
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De Eendragt scheme becomes life insurer
NETHERLANDS – Dutch corporate pension fund Stichting Pensioenfonds De Eendragt has changed to a life insurance company called De Eendragt Pensioen NV with more than €950m in total assets under management.
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Aviva-Pru tie could create €634bn AUM giant
UK – A roughly £440bn (€634.5bn) asset pot could be created if Prudential were to accept Aviva’s £17bn takeover bid – establishing a British life assurance and asset management powerhouse.
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Citigroup wins deal for UK overseas pensions
UK – Citigroup has been awarded a £500,000 (€720,000) contract by the Department for Work and Pensions to pay the pensions of almost one million overseas UK pensioners.
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Robeco nabs Achmea’s van den Broek
NETHERLANDS – Robeco Asset Management has appointed Achmea’s Reinoud van den Broek as institutional sales chief from May 1.
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OECD to unveil pension management principles
GLOBAL – The Organisation for Economic Cooperation and Development is set to unveil a five-point guideline for pension fund asset management tomorrow (March 21).
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NAPF Conference: actuaries under scrutiny
UK - Some scheme actuaries are failing to give proper leadership and guidance to schemes for fear of it backfiring on them, according to remarks at the NAPF’s investment conference.
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Investment banks get stick at NAPF Conference
UK - Investment banks should sell pension funds products that are acceptable, and use language that scheme trustees can understand, according to CarnaudMetalBox Group UK pensions manager Philip Read.
