All articles by Robert Melia Watson – Page 12
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News
ABA challenges Riester on deferred compensation
GERMANY- The ABA, the German Occupational Pensions Association, has called on labour minister Walter Riester to defer his plans to scrap deferred compensation in 2008.
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Kas adds €24m from Cedel sale to pension fund
NETHERLANDS – Dutch banking and financial group, Kas Bank, is to use a sizeable portion of the €55m gained in the sale of its share in Cedel International, to reduce its pensions costs, which have risen to represent 16% of the bank’s salary liabilities as a result of falling stock ...
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UBS Foundation enters multi-manager market
SWITZERLAND – UBS Global Asset Management has launched three new multi-manager sub-funds, the BVG range, in the SFr10.9bn (€7.5bn) UBS Foundation, the group’s investment foundation for the assets of its pesnion fund clients.
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CIE names replacements for AIB on e1.2bn mandate
IRELAND – The €1.2bn pension fund of the Irish state public transport company, Coras Iompair Eireann (CIE) has appointed Irish Life, Capital International and Bank Of Ireland Asset Management to each run a €400m global balanced mandate.
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UBS and LSE launch 5 year pension research project
UK / EUROPE – UBS Global Asset Management and the London School of Economics (LSE) have launched a new research programme to assess the state of the savings and pensions industries across Europe. UBS will provide financial backing for the five-year project.
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Scottish Widows appoints head of US business
UK/US- Edinburgh-based asset management company, Scottish Widows Investment Partnership (SWIP) has appointed John Griffith as head if its North American business as part of the firm’s strategy to expand its business in the region.
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NAPF publishes DC guide for trustees
UK – The National Association of Pension Funds (NAPF) has published a new guide for trustees of defined contribution schemes to help them comply with the principles of the Myners review.
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Fortis appoints Dexia's Rigoulet
FRANCE – Fortis Investment Management in Paris has appointed Thierry Rigoulet as head of institutional clients for France as part of its strategy to centralise asset management operations in Paris.
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Median fixed income outperforms equities by 20%
GLOBAL – Fixed income markets have outperformed equity markets for the second year in succession, according to research by Standard & Poor’s. Median returns for bonds ranged from -0.9% to 4.5%, against a fall of 21% in sterling terms (24% in dollar terms) for the median global equities fund.
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FIS buys Royal & SunAlliance Investments for €389m
UK – London-based fund management group, Friends Ivory & Sime (FIS) is to acquire Royal & SunAlliance Investments (RSI) Group, the UK asset management business Royal & SunAlliance Insurance Group (RSA) with £36bn (€58.2bn) under management, for £240m (€389m). The deal effectively doubles FIS’s assets under management from £34bn ...
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Alsma named as general secretary of OPF
NETHERLANDS – Meindert Alsma has been named as the new general secretary of The Hague-based OPF, the Dutch pension fund association, following the departure of Nico Obolonsky who left the association in March to concentrate on his career in insurance.
