All articles by Meagan Rees – Page 27
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News
Hermes expects to raise hedge allocation
UK – Hermes Pension Management – the asset manager of British Telecom’s £50bn (€74.2bn) pension scheme - today said it expects to increase its hedge fund allocation from 2% over the next few years.
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IAPF in plea against mandatory pensions
IRELAND – The Irish Association of Pension Funds (IAPF) has argued against the extension of mandatory pensions in a submission to the Pensions Board due to be considered by Minister Seamus Brennan.
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Swiss transport fund facing government probe
SWITZERLAND – The Swiss government is to investigate the reasons for the severe underfunding of the CHF2.15bn (€1.4bn) Swiss transportation sector pension fund Ascoop in 2001.
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News
France ‘developing new real estate UCITS’
FRANCE – The French government is developing a new class of UCITS, which could have a positive impact on the country’s real estate market and solve its retirement problem – according to SGAM Alternative Investments.
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Ireland: Heissmann’s Daly sets up own firm
IRELAND – Fiona Daly, the former investment head at Heissman Consultants in Ireland, has set up her own firm called Rubicon.
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News
CACEIS’ branches in name change
EUROPE - The Luxembourg and Dublin branches of Crédit Agricole Investor Services Bank Luxembourg have changed their names to CACEIS Bank Luxembourg and CACEIS Bank Luxembourg Dublin Branch, respectively.
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Volvo Dutch scheme outsources to MN Services
NETHERLANDS – Stichting Pensioenfonds Volvo Car BV (VCBV) has agreed to outsource the management of a third of its total investment portfolio (€200m) to MN Services – the fund’s new fiduciary manager.
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News
Mercer embroiled in Austrian pension row
AUSTRIA – A row has broken out between Austria’s Financial Markets Authority and consulting firm Mercer over the implementation of the EU occupational pension directive.
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European pooling set for lift-off – conference
EUROPE – Pension fund pooling vehicles are set for take-off in Europe despite a lack of tax harmony, according to a pension fund pooling conference held in London today.
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News
Watson, Mercer, Hewitt have UK “stranglehold”
UK – New research claims the “big three” firms – Watson Wyatt, Mercer and Hewitt - dominate the UK corporate pension consulting market.
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Pensions an issue in €10bn Boots merger
UK – Retailer Boots has confirmed that pension discussions are underway ahead of its proposed £7bn (€10.3bn) merger with Alliance UniChem.
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PGGM’s levensloop arm in outsourcing move
NETHERLANDS – PGGM’s new pension fund subsidiary Careon Levensloop has finalised a seven-year outsourcing contract with KAS Bank and Ordina.
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MN Services’ Rademaker quits to join Kempen
NETHERLANDS – MN Services’ managing director of asset management, Hans Rademaker, is leaving to become managing director of fiduciary management at Kempen & Co.
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Special Report
US voting demands
A group of 14 institutional investors from the UK, Netherlands, Australia and Canada have called for an overhaul of the American voting standard regarding the election of US corporate directors. They say it is “prone to abuse” and “inconsistent” with democratic values. In a letter addressed to the American Bar ...
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Dutch regulations boost pension outsourcing
NETHERLANDS – Complicated pensions regulations have made direct pensions outsourcing “almost unavoidable”, according to the 100 delegates at a debate regarding the future of outsourcing.
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DNB says funding rates fall despite good returns
NETHERLANDS - Dutch pension funds saw their funding rates decline last year despite a much healthier investment return, the central bank said.
