All articles by Perttu Jarvenpaa – Page 13
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20% of Dutch schemes dip below Z-score for 2000
NETHERLANDS – More than 20% of Dutch compulsory industry-wide pension schemes failed to reach the required Z-score performance barometer for 2000...
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Shell strikes bottom in Dutch fund figures
NETHERLANDS – Shell’s NLG29.5bn (e13.4bn) pension fund tumbled from the top of the performance lists for 1999 to become the worst performing Dutch pension scheme of last year, according to figures from the country’s VB and OPF occupational pension fund associations....
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Bolkestein says two weeks for tax 'communication'
EUROPE – European Commissioner, Fritz Bolkestein, has confirmed that he is unlikely to produce a directive on cross-border tax issues for pension funds, but that a communication on the subject will be issued within a fortnight....
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Lithuania to get mandatory second pillar pensions
LITHUANIA – Lithuanian authorities have drafted a new pensions reform law, which will be passed to the centrist coalition government for consideration in the next two weeks, with support for its implementation expected to follow from the World Bank....
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SEI gets £50m Man B&W Diesel injection
UK – Manager of managers firm SEI Investments has picked up its third UK mandate win with an appointment from the pension fund of MAN B&W Diesel to manage a potentially £50m (e81m) plus multi-manager portfolio....
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BoNY expands forex technology
US – Bank of New York (BoNY) has launched two expanded electronic foreign exchange services, a real-time business-to-business trade execution service iFX B2B, and iFX Express, a new version of its order management and execution system iFX Manager...
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KAS given Clearnet all clear
NETHERLANDS/FRANCE – The clearing house KAS-Associatie has been admitted as a general clearing member by Clearnet, the French stock exchange’s clearing institute, giving it access to the country's cash and derivatives markets...
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Non-switching Swedes prompt PPM call centre sale
SWEDEN – The premium pensions authority (PPM) is looking to sell its Ljusdal based call centre set up for Swedes to switch investment funds, following a dramatic drop-off in the numbers of investors moving their assets...
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S&P downgrades Europe funds following market swing
UK –The sharp swings in stock markets last year have resulted in a shake-up of Standard & Poor’s (S&P) ratings of UK fund managers investing in Europe...
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New MD appointed at Deutsche
GERMANY – Jürgen Fitschen has been appointed member of the board of managing directors at Deutsche Bank....
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JP Morgan recruits Mercer institutional specialist
UK – JP Morgan Investor Services has appointed former Mercer institutional specialist, Richard Dinham, as an investment consultant, in a bid to boost the group’s Europe, Middle East and Africa performance, analytics and consulting division...
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Nasdaq to create European central counter-party
EUROPE – As part of its majority stake acquisition in Easdaq – the Brussels based pan-European stock exchange, US exchange Nasdaq says it is planning to establish a user-controlled European central counter-party (CCP), shaking up talks of a single continent wide system...
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Italian scheme appoints managers to L20bn fund
ITALY – Cooperlavoro, the L20bn (e10m) closed-end pension fund for employees of co-operative companies, has appointed three investment managers to run the assets for its 300,000 members...
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Tories will scrap obligatory annuities at 75
UK – The opposition Conservative Party says it will scrap the obligatory annuity purchase at age 75 and allow young workers to contract out of the basic state pension if it is brought to power in the country’s forthcoming general election....
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Skandia elects new members to the board
SWEDEN – Skandia Insurance has elected three new directors to the board at its annual general meeting (AGM), Oonagh McDonald, Clas Reuterskiöld and Günter Rexrodt...
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UK government attacked over SRI in stakeholder
UK – Environmental activist group, Friends of the Earth, has attacked the UK government for denying information on socially responsible pensions to the millions of people who will be able to take out stakeholder pensions following next week’s launch...
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Fund derivatives growth prompts Dresdner hire
UK – Mehraj Mattoo has been appointed as a director in the Alternative Investments Group (AIG) at Dresdner Kleinwort Wasserstein, the investment banking arm of Dresdner Bank, a hire that the group says reflects the speed in growth of demand for fund derivatives....
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Goldman launches global sector fund range
UK – Goldman Sachs Asset Management is launching a range of global sector funds on March 30, categorising all industries into five main sectors....
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AP7 appoints Nomura for SEK1.1bn Japan mandate
SWEDEN – The seventh national Swedish pension fund (AP7) – the default fund for non-choosers in Sweden’s PPM system - has selected Nomura Asset Management UK to manage a SEK1.1bn (e121m) active Japanese equity mandate...
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Eggleton to head UK Pensions Management Institute
UK – Ian Eggleden, European partner and unit head of the William M. Mercer retirement practice, has been elected president of the UK Pensions Management Institute (PMI) for 2001/2002...
