All articles by Meagan Rees – Page 5
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Institutions lose out on World Cup warrant
UK – Institutional investors who brought Société Générale’s ‘SG Football 2006’ warrant – launched in February ahead of the 2006 World Cup – may have lost out following the market downturn in May.
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AP2 says there aren’t enough women managers
SWEDEN – Andra AP-fonden, the Second Swedish National Pension Fund, AP2, says not enough women are being appointed to senior management positions at Swedish companies.
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Watson Wyatt’s Robertson joins Mercer
UK – Watson Wyatt partner and senior consultant Dave Robertson has left after almost 10 years to join Mercer Consulting as a principal within its retirement business.
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Credit Suisse sells Winterthur to AXA for €7.9bn
SWITZERLAND – The Credit Suisse Group today announced it has agreed to sell its entire Winterthur insurance business to AXA in a CHF12.3bn (€7.9bn) cash deal.
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M&A deals ‘bypassing Pensions Regulator’
UK - Some companies involved in M&A deals are bypassing applying for clearance from the Pensions Regulator due to concerns about the value of the process, according to a senior executive at actuarial and consulting firm Lane Clark & Peacock.
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BAE Systems plans €1.46bn pension plug
UK – Defence and aerospace giant BAE Systems has agreed to inject just over £1bn (€1.46bn) into its pension funds in a bid to tackle its £3.1bn pensions deficit.
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Gartmore shuts DB scheme amid buyout
UK – The roughly £65m (€95m) defined benefit pension scheme of fund management group Gartmore will be shut and replaced by a new defined contribution scheme following a management buyout of the firm, Gartmore has told employees.
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UK forum calls on funds to consider SRI
UK – The UK Social Investment Forum, the UK’s membership network for socially responsible investment, has launched a two-year project to encourage schemes to consider environmental and social issues in their investments.
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NAPF’s Farnish wants govt to stand by schemes
UK – NAPF chief executive Christine Farnish has challenged the government to stand by its word to support existing pension provision, and cut regulatory and cost burdens on schemes.
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Capita pensions marketing head retires
UK – Patrick Wynne-Jones, marketing manager at specialist pensions administrator Capita Hartshead, is due to retire.
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UK minister wants to cut pension “red tape”
UK – Pensions minister John Hutton has invited key industry stakeholders to get involved in government’s drive to cut ‘red tape’ – excessive bureaucracy - to make pensions simpler and less burdened with regulation.
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Citigroup, LGIM in pooling tie for Dutch schemes
EUROPE – Citigroup’s Global Transaction Services arm has created a pension pooling structure using an Irish common contractual fund vehicle for the Dutch pension fund clients of Legal & General Investment Management.
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PPF to outline pension risks in publication
UK – Pension Protection Fund chairman Lawrence Churchill says the PPF is to detail the risks facing the industry in a new publication in the late autumn.
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Sweden’s PPM facing probe over delayed trades
SWEDEN – Sweden’s Premium Pension Authority, PPM, could be facing an investigation by Sweden’s Office of the Chancellor of Justice following complaints of delayed trading during May’s market turbulence.
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AP4 under fire from finance ministry
SWEDEN – The roughly SEK180.2bn (€19.2bn) Fourth Swedish National Pension Fund, or AP4, has come under fire for underperforming its sister AP buffer funds in a review carried out by the Swedish Ministry of Finance.
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Iceland refutes pension funds’ macro impact
ICELAND – The Icelandic Finance Ministry has taken issue with claims that domestic pension funds’ behaviour is having a negative impact on the economy.
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City of Westminster axes Henderson, Aberdeen
UK – The roughly £600m (€871m) City of Westminster pension fund has axed Henderson Global Investors and Aberdeen Asset Management following a scheme restructure.
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No change to Marconi fund amid deal
UK – There will be no changes to the roughly £2.7bn (€3.9bn) former Marconi pension fund amid a sale to Fortress Investment Group.
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Amonis cuts equities, real estate for hedge funds
BELGIUM – The €1bn Amonis pension scheme for dentists, doctors and pharmacists has reduced its exposure to equities and real estate, and ploughed roughly €34.2m into a fund of hedge funds portfolio managed by Key Asset Management.
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UK unions want more voting transparency
UK – The Trades Union Congress is to redouble its efforts to get institutional investors to disclose their voting records.
