All articles by Meagan Rees – Page 25
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Watsons concerned for fund shortfalls
UK – Actuarial consulting giant Watson Wyatt has voiced concerns that the Pension Regulator’s proposals on how it intends operating under the new funding regime for DB schemes could leave more than 2,000 pension schemes facing funding difficulty and uncertainty.
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London firms unready for MiFID says report
UK – More than two-thirds of London-based investment firms are not adequately prepared for the Markets in Financial Instruments Directive (MiFID) due to be implemented in November 2007, according to a research report released today.
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ABN Amro reports 6.5% rise in 3Q AUM
GLOBAL – Global banking group ABN Amro reported a 6.5% rise in assets under management to €173.2bn since the third quarter last year and a 3.7% increase on the quarter, and a 7.8% hike in the first nine months.
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Groups discuss future of Sweden’s Alecta
SWEDEN – Swedish labour and employer groups have started talks over a new ITP plan - which could see the €40bn occupational pensions firm Alecta open to competition.
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IPE-QUEST: Four new searches on system
GLOBAL – There are four new searches – for pharmaceutical equities, developed market debt, convertible and investment grade bonds and eurozone debt – on IPE-Quest.
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Threadneedle unveils absolute return bond fund
UK – Threadneedle Investments has a fund for investors seeking to diversify their bond portfolios in the face of declining interest rates.
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SEB winning new institutional mandates
SWEDEN – Swedish financial services provider SEB has secured several new institutional mandates and achieved “greater market clout” in Germany, its interim report released today revealed.
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UK may face €5.9bn ECJ pensions payout
UK - The UK government may have to fork out £4bn (€5.9bn) of taxpayers’ money if the European Court of Justice finds it failed to adequately cater for workers who lost pensions due to insolvency between 1997 and April 2005.
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PIMCO says it wins Irish mandates
IRELAND – Fixed income manager PIMCO Europe says it has been awarded two mandates – one worth €60m – from the Unilever Superannuation Fund and the Allianz Group Pension Scheme.
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Shell settles case with US retirement plans
GLOBAL – Oil giant Royal Dutch Shell has resolved its dispute with US retirement plans in a $90m (€74.1m) settlement.
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SAM appoints new global marketing head
SWITZERLAND – Swiss sustainable asset management company SAM has appointed Eric Gelfgren as global head of marketing and sales.
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UK regulator to test powers against 17 companies
UK – The UK’s Pensions Regulator is looking to exercise its untested legal powers against 17 corporate sponsors that have purposefully attempted to avoid liabilities.
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European ETFs on the up with launches, AUM
EUROPE – The European exchange traded fund market got a double boost today from Morgan Stanley and Barclays Global Investors.
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Vanguard loses out in Belgian court battle
BELGIUM – A Belgian court has ordered Vanguard, the $850bn (€710bn) mutual fund company, to pick up a damages tab worth almost €400,000 following defeat by former European marketing assistant director Henk Beets.
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BP facing strike over pension rights
UK – The Transport & General Workers’ Union (T&G) today announced a five-day walk out by 74 BP oil tanker drivers due to the “increasingly bitter dispute” surrounding pension rights.
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Finnish postal scheme to be shut down
FINLAND - The roughly €400m pensions arm of Finland Posti - Finland Post Pension Fund - will be closed down following the outsourcing of its entire statutory and supplementary divisions to Ilmarinen Pension Co. and Pohjola Life respectively.
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State Street nabs Philips’ back office head
NETHERLANDS – State Street has hired Philips’ Pension Fund’s former back office head Jan van der Meijden as vice president, head of middle office services.
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MLIM hires Aegon UK credit head
UK – Merrill Lynch Investment Managers has appointed former Aegon Asset Management UK credit head, Daniel McKernan, as sterling credit fund manager.
