Ignis Asset Management and Castle Hill Asset Management have embarked upon a strategic partnership to form a specialist credit manager.
Castle Hill, a specialist credit investment manager, has over $2.0bn of gross assets under management – a figure which includes sub-advisory mandates from Ignis Asset Management invested across two leverage loan portfolios and one long-short credit portfolio
The Alternative Investment Fund Manager’s (AIFM) directive could carry more risks for investment managers than they realise, says BDO LLP.
A report by BDO shows that only three per cent of respondents to a survey said the AIFM directive was a key risk for 2010 due to implementation timescales
Research by global consulting and outsourcing company, Hewitt Associates, shows that hedge funds fared well in 2009, with hedge fund manager searches doubling over the year.
The first global environmental benchmark for the property sector has been launched as a result of research by APG, PGGM and the USS
Pension fund assets in the 13 major markets across the globe increased by 15% over 2009, shows Towers Watson’s Global Pension Assets Study
The European Commission’s Working Paper, Consultation on the Future “EU 2020” Strategy has been largely welcomed by the EFRP
Q3 2009 saw an increase in investment fund assets worldwide of 6.2 per cent to €15.3trn, reports the EFAMA
Almost 80% of respondents to a survey do not plan to alter their hedge fund allocation over the next year, and 15% expect to increase them, reports SEI
ABP has announced that it saw an improvement in its financial position the second half of 2009, recording a return on investment of 15.1%
Investment in gold has seen a ninth consecutive year of positive results thanks to dollar depreciation and the possibility of future inflation, says WGC
Investors must not become complacent over their dealings in emerging market funds, warns HFM Columbus, despite huge 2009 gains
Norway’s Ministry of Finance has excluded 17 tobacco producers from the Government Pension Fund Global
A group of institutional and individual investors have filed a resolution for the forthcoming AGM of Royal Dutch Shell plc
HR professionals from across Europe will offer their views on how to improve the HR function after the recession as part of Hewitt’s annual European HR Barometer
Direct investments in real estate accounted for €15.3bn of Dutch pension funds at the end of the third quarter of 2009, the equivalent to 2.4 per cent of their total investments
Pension funds across Europe plan to introduce more risk into portfolios by increasing allocations to alternatives
The European appetite for ETPs will push market growth for this region up by 20-25%, predicts Deutsche Bank
European investment fund asset managers are not seeing the operational cost reductions that they assumed would be brought about by the new UCITS IV, says Ernst & Young
Pension fund portfolios across the globe could be exposed to hidden risks, says a new report by US sustainability group Ceres
Private pension funds in Romania delivered strong returns for 2009, according to data released by the Romanian Pension Funds’ Association (APAPR)
Towers Perrin and Watson Wyatt have completed their merger to create global professional services company, Towers Watson
State Street Corporation has announced that it is to acquire Intesa Sanpaolo’s Securities Services (ISPSS) business in Italy and Luxembourg
Progress made in Copenhagen has been welcomed by the IIGCC, but binding guidelines are a must by end 2010
Investors globally are optimistic about 2010, with 80% of respondents expecting the world economy to grow over the next year
The European Pensions Awards 2010 are now open for entries. The closing date is 15 March 2010, the winners to be announced at an Awards Gala in London on 1 July 2010
Swiss Re is to provide the UK’s Royal County of Berkshire Pension Fund (RBPF) with protection against longevity risk in its first longevity transaction with a pension fund
Tata Consultancy Services (TCS) is the last candidate in the running for the UK’s Personal Accounts administration bid
The Pensions Age Spring Conference: Coming out of the dark has now launched and is free to pension funds
The UK Government has announced in the Pre-Budget Report that it is adjusting some key pension reforms
CEIOPS has published its second bi-annual report on financial conditions and financial stability
Liquidity risk is the biggest concern facing institutional investors when it comes to investing in private equity
The inclusion of offshore-domiciled funds in the UK’s IMA sector will shake the emerging market industry
The joint venture between Crédit Agricole S.A. and Société Générale has received regulatory approval, with Amundi now operational
Pension deficits at the top 25 Irish companies have more than doubled in the last 12 months, according to LCP
UCITS have continued to enjoy positive net inflows in the third quarter of 2009, with new countries registering interest
Irish pension managed funds returned +1.1 per cent for November 2009, according to Hewitt’s Managed Fund Index
Eighty-nine per cent of investment consultants expect to see an increase in client interest in ESG issues
The financial crisis has impacted both companies with defined benefit (DB) and defined contribution (DC) plans
A round-up by European Pensions of European Mandates awarded this month
More and more pension funds are likely to opt for a bespoke, unbundled version of fiduciary management in the future, according to a recent study among leading specialists in the area
The European Investment Bank (EIB) and the Organisation for Economic Co-operation and Development (OECD) have agreed to share their expertise
European institutional investors still favour equities, despite market volatility, according to the results of J.P. Morgan Asset Management’s European Equity Survey
HMRC is wasting time and effort by continuing to deny Gibraltar as an acceptable Qualifying Recognised Overseas Pension Schemes (QROPS) jurisdiction
Adoption of liability driven investment (LDI) strategies has more than doubled across the globe, with the Netherlands taking the top spot, finds SEI
Responsible Investment does have an impact on financial performance, reports Mercer, with ESG factors affecting portfolio returns positively
The average growth in wages in the Government and Education sectors has caused the board of Stichting Pensioenfonds ABP to adjust pensions in 2010
The possible amendments to the Alternative Investment Fund Managers Directive (AIFM Directive) published by the Swedish Presidency are wide-ranging and highlight possible changes to the specific obligations implied by the Directive
Realistically, it is unlikely that Europe will see the evolution of a pan-European pensions market within the next ten years, say leading pension experts in a survey by Allianz Global Investors AG (AllianzGI)
European wealth managers can now benefit from Mercer's expertise with the launch of a new service aimed specifically at private banks, family offices, fund platforms and insurance companies
Support for greater transparency within the alternatives investment management industry is high among members of the CFA Institute Centre for Financial Market Integrity
Insight Investment has been bought by BNY Mellon for a total sum of £235 million, comprising a cash consideration of £200 million and an equity consideration of £35 million
Members of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) have elected Gabriel Bernardino as the new chairman of CEIOPS, and Antoine Mantel as vice-chairman.
The second quarter of 2009 (Q2 2009) has brought with it good news for investment fund assets worldwide with records showing a 5.4 per cent increase to €14.39trn
The European Fund and Asset Management Association (EFAMA) and SWIFT have published a mid-year status report on the evolution of standardisation rates for the first half of 2009
Long-term savings provisions in Europe are flawed and are no longer able to meet the needs of ageing populations, finds the Janus Capital European Consumer Finance Survey
Despite the first half of 2009 showing marked improvements on returns for pension schemes globally compared to the huge losses in 2008, structural challenges remain, reports the Organisation for Economic Co-operation and Development (OECD)
UCITS IV's arrival has been welcomed with open arms by asset managers, says RBC Dexia and KPMG, with the vast majority of UCITS managers taking a proactive approach to the new directive
Long-term savings provisions in Europe are flawed and are no longer able to meet the needs of ageing populations, finds the Janus Capital European Consumer Finance Survey
Despite the first half of 2009 showing marked improvements on returns for pension schemes globally compared to the huge losses in 2008, structural challenges remain, reports the Organisation for Economic Co-operation and Development (OECD)
UCITS IV's arrival has been welcomed with open arms by asset managers, says RBC Dexia and KPMG, with the vast majority of UCITS managers taking a proactive approach to the new directive
Aviva is set to transform its European business by taking full advantage of the growth opportunities presented in the area, and will be integrating its businesses across Europe
The International Organisation of Pension Supervisors (IOPS) has approved a series of guidelines and reports which are designed to strengthen the supervisory oversight of global pension systems, and to protect vulnerable fund members and retirees
The European Fund and Asset Management Association (EFAMA) has established the President's Advisory Council, which will act as an advisory group to the Presidency on industry matters
A third of employers worldwide already offer at least one of the automatic features of enrolment, rebalancing or escalation, according to a survey of 'automatic features acceptance' by Mercer
A fully functioning cross-border fund distribution market will not be active in Europe for at least five years, due to discrepancies in regulation and tax legislation between member states, warns KNEIP
A growth revival is on the cards for countries within Central and Eastern Europe (CEE) if the European Institutional Conference, held by Generali Investments, is anything to go by
Investors across Europe are moving back into UCITS funds, said the European Fund and Asset Management Association (EFAMA) at its Annual Conference
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) received more than 20,000 comments from stakeholders on its second set of Consultation Papers on Solvency II, Level 2 Implementing Measures, which closed to replies on Friday 11 September. The process took place in response to the European Commission's request to CEIOPS to fully consult stakeholders on advice on Level 2 implementing measures by the end of October 2009
Standard Life Investments has been awarded a €230million mandate by Sweden's only customer-owned and locally-based banking and insurance group, Länsförsäkringer. Standard Life Investments will manage the European Corporate Bond portfolio within its European Corporate Bond Fund SICAV, managed by Craig MacDonald
Canada Life has launched its flexible phased investment option across five of its key products, suitable for investors who are apprehensive about investing full amounts in the markets or for those looking to lock-in any gains.
Hedge fund and private equity industries contribute €9bn in tax revenues to the European Union governments, according to research by the Alternative Investment Management Association (AIMA)
The Alternative Investment Management Association (AIMA) and the Irish Funds Industry Association (IFIA) have published a new, revised edition of the AIMA Guide to Sound Practices for Hedge Fund Administrators
KAS BANK has been chosen by Neonet to act as its General Clearing Member for the Stockholm segment of NASDAQ OMX
Romanian pension funds posted positive returns for the first eight months of 2009, with average results of 11.31 per cent in mandatory pension funds, and 10.73 per cent for voluntary pension funds
Positive revaluation of investments and favourable price movements of financial assets have added €25bn in value to Dutch pension funds' investment portfolios in the second quarter of 2009, according to De Nederlandsche Bank (DNB)
The Committee of European Securities Regulators' (CESR) proposal to compress the riskiness of an investment fund into a single number will cause investors to make inappropriate investment choices and suffer losses as a result, warns EM Applications
Norway's Government Pension Fund - Global has excluded an Israeli company from its portfolio, on the basis of the Council on Ethic's recommendation
The European Fund and Asset Management Association (EFAMA) has outlined its strategy for the next two years, working towards its position of creating a single voice for the industry.
Norway's Government Pension Fund - Global has excluded an Israeli company from its portfolio, on the basis of the Council on Ethic's recommendation
BNP Paribas Investment Partners (BNPP IP) and Crédit Agricole Asset Management (CAAM) have joined forces to create a European provider of fund distribution services
Employers will play an increasingly critical role across the globe in shaping public policy and addressing concerns over pension benefit costs, as the ratio of elderly persons to the working-age population rockets over the coming years, warns Mercer
Irish pension funds are continuing on their upbeat paths with the sixth consecutive month producing a positive performance, with an average 2.8 per cent return, says Rubicon Investment Consulting
Exchange traded products (ETPs) have seen €41bn of net inflows over the last year, with particular demand for broad-based European funds, commodity and fixed income funds
Northern Trust has enhanced its transfer agency product, which supports asset managers in the UK, Ireland, Luxembourg and the Channel Islands, to increase automation and provide increased straight-through processing (STP) for clients. This, Northern Trust said, would result in improved risk management. The fee rebate module provides an automated and scalable solution to support the calculation of management fees, agent trailer fees and register fee rebates. It has been designed specifically for offshore clients
The Universities Superannuation Scheme (USS) has chosen UBS Global Asset Management - Fund Services to provide hedge fund of funds administration services
The European Commission's (EC) proposed regulations for the alternative investment industry could damage institutional investors' investment returns unless substantial amendments are made, warns Mercer
HSBC has announced that it is to break into the European exchange traded funds (ETF) market with the launch of a suite of ETFs, beginning with the HSBC FTSE 100 ETF
A solid recovery in the Second Swedish National Pension Fund (AP2) has been secured thanks to continuing high share of equities, says the Fund
Proposals for amending the discount rate for measuring employee benefits have been published for comment by the International Accounting Standards Board (IASB), following calls from stakeholders to address a problem exacerbated by the global financial crisis
Opportunism has remained popular with asset managers, in particular those from defined benefit (DB) pension schemes, despite the severity of the current financial crisis, reports CREATE-Research, in association with Citi's Global Transaction Services and Principal Global Investors
The UN-backed Principles for Responsible Investment Initiative (PRI) has delisted five financial institutions from its signatories for failing to participate in its annual Reporting and Assessment process
Despite pressure on the economy and high gold prices, investor demand in the metal has remained strong in the second quarter of 2009, says the World Gold Council (WGC)
Norway's Government Pension Fund - Global, saw a 12.7 per cent return (NOK 270bn) in the second quarter of 2009, following dramatic improvements in international equity and fixed income markets, says Norges Bank
Aon Consulting is to streamline its Aon Global Insurance Managers division into a new regional leadership structure with hubs in Europe, the Middle East and Africa (EMEA); the Americas; and Asia Pacific.
GLG Partners will work with Mercer's investment consulting business to determine whether environmental investing has become the norm.
The European Commission's draft directive on Alternative Investment Fund Managers could cost the pension fund industry up to €25bn a year if it is put into place in its current form, warns the Alternative Investment Management Association (AIMA).
The Investment Management Association (IMA) has welcomed the European Commission's consultation of OTC Derivatives, which aims to improve market infrastructure and to ensure an efficient, safe and robust derivatives market
Greece is in need of radical reforms to its pension system if it is to cease being a burden on longer-term fiscal sustainability, and to prevent a rise in pension costs that would otherwise see these accounting for more than 20 per cent of GDP by 2050, warns the Organisation for Economic Co-operation and Development (OECD)
Investment fund industry service provider, KNEIP, has announced that it is to open an office in London as part of its network expansion. The new office is part of KNEIP's strategy to improve its service to clients by establishing local presence in its core markets, and the London office marks the first in a series of forthcoming openings in Germany, France and Hong Kong over the next 12 months. Paul Poletti-Gadd will head up the UK office, looking after current clients and developing new business opportunities
The O2 Pension Plan has selected BlackRock as investment only defined contribution (DC) provider, to £30million in assets. The deal, for which O2 has selected BlackRock's DC Diversified Growth Fund as part of its default option, means the 3,000 members of the fund will be able to select BlackRock funds, including its DC UK Focus Fund
Standard Life Investments has strengthened its distribution links in Germany with the announcement that its Luxembourg-domiciled SICAV fund range is now available to key intermediaries in Germany, via Moventum's fund platform. Last month, Standard Life Investments signed an agreement with MFEX Mutual Fund Exchange to distribute its SICAV range in Scandinavia.
Quantitative regulations may help to limit the retirement income risk in defined contribution (DC) pension systems in countries where payments from DC are the most prevalent source of income in old age, says Allianz Global Investors AG (AllianzGI) and the Organisation for Economic Cooperation and Development (OECD)
The European Council's Conclusions back in June that improved financial supervision is necessary have been supported by BUSINESSEUROPE and financial market players
Responsible investment has continued to rise in popularity despite difficulties in the markets, demonstrated by the 560-plus signatories to the UN-backed Principles for Responsible Investment (PRI) Initiative
Stichting Pensioenfonds ABP (ABP) has seen an increase in its coverage ratio, the most important indicator for the Fund's financial position, from 90 per cent to 98 per cent over the first six months of 2009
Mergers between the Pensions Board and the Financial Regulator, and the Pensions Ombudsman and the Financial Services Ombudsman, have been recommended in the Irish government's much-anticipated Report of the Special Group on Public Services Numbers and Expenditure Programmes.
The European Commission has appointed Deloitte to assist in its research in relation to the impact of Solvency II
The financial crisis has changed the attitudes and practices of European institutional investors with a notable shift away from equities and towards fixed income and cash, according to a survey supported by Invesco
The Local Government Pension Institution (LGPI) has signed an agreement with Ortec Finance to license its Asset Liability solution for pension plans
Irish pension managed funds have succeeded in another consecutive month of positive returns, according to both Hewitt Associates and Rubicon
The European Commission has selected Hewitt Associates to conduct a feasibility study and advise on the establishment of a pan-European pension fund for researchers
Royal Bank of Canada's corporate and investment banking arm, RBC Capital Markets, has made further hires in Europe in an effort to bolster its European platform. Carmine Meoli has been appointed head of private banking solutions sales, while Arif Hussein and Peter Drewienkiewicz have been chosen as directors in RBC's rates sales and trading team. RBC Capital Markets has hired over 300 people throughout its global capital markets operations
Pension Insurance Corporation has appointed Schroders to manage an initial £100million segregated Global Corporate Bond Portfolio
Towers Perrin and Watson Wyatt are to merge to form Towers Watson & Co., creating a company 'stronger than the sum of its parts'
Insurance companies' roles as investors have been increasingly affected by the decade's financial turmoil followed by the current crisis and recession, says the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS)
The Organisation for Economic and Co-Operative Development (OECD) has called for governments worldwide to push ahead with reforms to ensure that public and private income provision remains socially and financially sustainable
The European Fund and Asset Management Association (EFAMA) has chosen Jean-Baptiste De Franssu as its new president for a two-year term, and Claude Kremer as vice-president
The investment management industry must employ a 'back-to-basics' approach when it comes to client relationships in order to rebuild trust with investors, says KPMG
A lack of disclosure on environmental, social and corporate governance (ESG) issues is a key challenge when asset managers an institutional investors consider investing in emerging markets, says a survey by the Ethical Investment Research Service (EIRIS) and the International Working Group of the Social Investment Forum
A new tax-efficient Pension Trust that allows UK Limited Companies to provide retirement packages for their employees who have responsibilities outside the UK has been launched by s615(6) Limited
Pension reform will remain in limbo if the economic crisis continues, warns Allianz Global Investors AG (AllianzGI)
Proposals by the EU to control the risk of UCITS funds could leave them more risky than hedge funds, as they will not protect investors from the risk of a huge loss of investment value, says EM Applications
The first multi-client cross-border asset pooling platform has been launched by AEGON and Citi, developed with TKP investments, with total assets invested of more than €9bn
The Committee of European Insurance and Occupational Pension Supervisors' (CEIOPS) annual report shows its continued support for the development of cost effective multi-country pension funds, says Watson Wyatt
UK and European clients will now benefit from new corporate governance, social and environmental engagement service from fiduciary management provider SEI, in association with F&C Management Limited, for its Dublin-registered equity funds
Irish pension funds delivered positive returns during May for the third month in a row
A report from UKSIF, the association which promotes Sustainable Investment and Finance, indicates that Responsible Investment is growing in popularity among UK corporate pension funds, a change led by trustees
Aon Trade Credit UK is pushing out of the UK by launching an international team to support global companies in managing their receivables more proactively to prevent bad debt
The largest securities fraud settlement ever has been reached in Europe, with a Dutch appeals court ordering Royal Dutch Shell plc to begin the payment of $381million, plus interest, to a foundation representing a group of institutional investors from 17 European countries
European countries' pension markets have experienced mixed reactions to the global crisis, although UK businesses are at a 'severe competitive disadvantage' in Europe due to weaknesses in private and state pension systems, says Aon Consulting
Reforms have been proposed to the current architecture of financial services committees by the European Commission (EC) adopted Communication on Financial Supervision in Europe, which would in effect replace the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).
Continental Europe is showing signs of a recovery with increases in European stocks dividend forecasts and robust corporate balance sheets, says Ignis Asset Management
VaR calculations are at odds with one another in some European countries due to a contradiction in UCITS Rules, says EM Applications
Pensions and investment consultants Lane Clark & Peacock has expanded its Swiss operations with the launch of LCP Asalis.
Firm measures are necessary to bring scheme funding levels of Dutch pension funds up to the minimum required funding ratio of 105 per cent within five years, warns De Nederlandsche Bank (DNB) in its Annual Report 2008
Bankpension, a pension fund for employees in the Danish financial sector, has reported "extremely unsatisfactory" 2008 results, with yields after tax standing at -19.7 per cent
At last some positive news for Irish Pension funds, with Hewitt's monthly Managed Fund Index reporting that the month of April 2009 returned 8.7 per cent
The Alternative Investment Management Association (AIMA) has published the world's first global Guide to Sound Practices for Funds of Hedge Funds Managers, developed by some of the world's leading fund of hedge funds (FOHF) practitioners
Pension consultants Gissings has been appointed by Age Concern England and Help the Aged to advise on the development, communications and governance arrangements for their future pensions procedures.
Gartmore has launched its UK Absolute Return Fund, the latest in its absolute return range
Aviva plc has reported "resilient" new business sales in its three month statement to end March 2009, with life and pensions sales worldwide increasing by 11 per cent to £9,569 million over this period
Ireland's defined benefit (DB) pension scheme members will gain further support with news that a new Pensions Insolvency Payment Scheme (PIPS) is to be introduced in the Social and Welfare and Pensions Bill 2009
Cross-border UCITS in Europe suffered in 2008 due to the financial crisis, with EUR 20.8bn of total net outflows sourced in Europe
Global pension assets have dropped by over 20 per cent, or $5.4trn, as a result of the financial crisis, says the Organisation for Economic Co-operation and Development (OECD)
ING Group's holding company in Russia and non-state pension fund business, which had assets under management of £30.4million at 31 December 2008, have been acquired by Aviva plc
Henderson Group plc, the parent company of Henderson Global, has announced that it has acquired New Star Management plc
Pension salary sacrifice can offer employers massive savings in under a year if their employee pension contributions top £500,000 per year, says Watson Wyatt
The Ethical Council of Sweden's First to Fourth AP Funds has reported on 2008's progress in its engagement with companies suspected of violating the ethical guidelines which preside over the four Funds' investments, with success in several cases
Following tales of woe for the Irish pension fund sector, Hewitt Associates' monthly Fund survey and index has revealed that they returned 2.6 per cent for the month ending 31 March 2009
Irish pension scheme assets fell by 23% in 2008, the Irish Association of Pension Funds (IAPF) has reported as part of its annual asset allocation survey, which, says the association, is less than might have been expected given recent market conditions
Kotak Mahindra Ltd has launched a Fixed Maturity Plan to help foreign investors to access the Indian Corporate Debt market. The wholly owned subsidiary of India's Kotak Mahindra Bank Ltd follows Kotak's success in a bidding process in which the company secured $730mn in corporate debt. The fund will be open to institutional investors, private banks and family offices in the UK, Europe, Middle East and Far East
Institutional investors remain committed to hedge funds despite the bashing the asset class has received in recent months. In fact, a large number even plan to increase their allocations in 2009. This is according to a recent hedge fund study carried out by State Street in conjunction with the 2008 Global Absolute Return Congress (Global ARC).
BNY Mellon Asset Management has opened an office in Paris as part of its plans to branch out within Europe
The prospects for the Swiss economy have changed marginally in the latest Financial Market Test Switzerland, conducted by Credit Suisse in cooperation with the Centre for European Economic Research (ZEW)
EUR 26bn worth of securities were sold by Dutch pension funds in the fourth quarter of 2008, according to figures published by De Nederlandsche Bank
The European Union (EU) has admitted that pensions are not 'immune' from the financial crisis, but have shown themselves to be 'robust' in comparison to other financial institutions
Norway's Government Pension Fund lost NOK 29.6bn (€2.95bn) in 2008, a massive drop attributed to the equities, according to figures from Folketrygdfondet
The credit crunch is not letting up on Irish pension funds, with February recording further losses of 5.7 per cent
SEI has launched a set of services for UK wealth managers to enhance their ability to manage client accounts more efficiently and in a more compliant manner
SVM Asset Management Limited has received approval from the FSA to launch its SVM UK Absolute Alpha Fund, with a launch period that will run from Wednesday 11 March to 7 April 2009
Nuffield Health has appointed Mercer as corporate adviser on their pension liabilities, Vivendi 2008 Pensioners, Aberdeen Property Fund Denmark P/S
Diversification within an investment portfolio can result in outperformance of an equity and bond only portfolio by 22 per cent, says Global Pensions and Strategy Group at Deutsche Bank
Finnish pensions advisory and insurance services provider, Ilmarinen, has revealed overall 2008 results of €-4,338.1million, with investment returns of -17.7 per cent
In a bid to level out the playing field between Iceland's pensions for public officials and the general public, the Minister of Finance has moved to abolish the Act that provides these pension privileges to senior public servants and politicians
Sweden's Första AP-fonden (AP1) pension fund has blamed falling equity markets for its SEK 47.2bn loss in 2008
A team of wind-up specialists has been added to independent trustees company Dalriada to help prepare trustees for a downturn
Pension schemes all over the world are re-evaluating their investment management following the effects of the financial turmoil.
Financial consultant Towers Perrin has built upon its pension related investment consulting business by forming a new European Investment Consulting Group based in Munich, Germany
The Netherlands has launched onto bfinance's radar with the company's latest appointment to its Northern Europe team
Chuo Mitsui Trust International has launched into the UK with a London office. The global arm of Japan's second largest Trust Bank, Chuo Mitsui Trust and Banking, has expanded its offerings and services to institutional and multi-manager markets in Europe and the Middle East
The Second Swedish National Pension Fund/AP2 has recorded a sharp fall in its market worth for 2008, amounting to a return of -24 per cent on net assets
Allianz Global Investors has published a study examining the development of the pension systems and markets in 17 Western European countries
Following a recommendation from the Council on Ethics for the Government Pension Fund - Global, Norway's Ministry of Finance has excluded American company Textron Inc. Corporation from the fund
The number of multinationals that plan to implement global funding policies across all aspects of retirement plan management by 2010 has increased to 87 per cent, according to Mercer.
The financial consultant's Multinational Survey also shows that 85 per cent of multinationals will use some form of 'global' approach to set their investment objectives by 2010, and 61 per cent now restrict new staff hires to defined contribution (DC) schemes.
The number of multinationals that plan to implement global funding policies across all aspects of retirement plan management by 2010 has increased to 87 per cent, according to Mercer
The European Commission's Decision 2004/6/EC of November 2003 which establishes the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS), has been repealed and replaced by Decision 2009/79/EC. It now has some further provisions regarding the role of CEIOPS as the Level 3 Committee for the insurance, reinsurance and occupational pensions sectors. The new Decision came into effect on 29 January 2009.
Scottish Widows has been selected to provide a group pension scheme to Lothian Buses. Under the new scheme, which will be brokered by HSBC Actuaries and Consultants' specialist defined contribution team, all eligible employees will be offered a matching employer contribution and have access to online services, which will allow them to manage their pension online.
Standard Life plc's new business results for 2008 show a drop in worldwide life and pensions sales of six per cent to £15.6bn.
Total net flows across the worldwide life and pensions operations were down from £2.8bn in 2007 to £2.4bn in 2008. However, in Europe, net flows were 13 per cent higher at £620million in 2008 than in 2007, at £548million. German gross inflows offset the impact of the weak Irish markets in the first three quarters.
UK pension funds are set to enjoy a €100million rebate from the Dutch tax authorities following a tax ruling, says the UK branch of KPMG.
The professional services provider's test claimant, Strathclyde Pension Fund, has brought a successful legal challenge against the Dutch tax authority for a levied 'withholding tax' (WHT) on dividend payments to tax exempt bodies located within the European Union (EU) but outside the Netherlands.
Global institutional pension fund assets shrivelled by 19 per cent across the 11 major markets during 2008.
Figures from the Watson Wyatt Global Pension Assets Study show that assets fell from around US$25trn to US$20trn, with the global pensions balance sheet also shrinking by around 29 per cent in 2008. The financial consultant says this reflects the combined effects of poor performing assets and lower government bond yields.
Life expectancy assumptions for funding valuations in UK pension schemes have been increased by eleven months, according to Mercer's valuation survey.
The Irish Pensions Ombudsman saw a forty-three per cent rise in new cases compared to 2007, with the number of cases closed in 2008 up by ten per cent on last year.
Around 450 cases are currently under investigation by the Dublin-based organisation, and its website has recorded over a third of a million hits annually.
Finnish private sector pension insurer Varma has revealed in its preliminary figures that its 2008 return on investments was -15.2 per cent.
In 2007, this figure stood at six per cent, with a market value of €28.4bn. However, in 2008, this had dropped to €24.6bn by the end of the year.
Financial consultant Mercer has enhanced its executive remuneration consulting capabilities in Europe.
As part of the move, Diane Doubleday, Mercer's global head of Executive Remuneration, has relocated to the UK to drive Executive Remuneration business growth in Europe.
A European Research Strategy for professional investors has been launched by Janus Capital International Limited, the international arm of Janus Capital Group Inc.
iShares Europe has reported a record year of net inflows into its European Exchange Traded Funds (ETF), securing €17.7bn in net new ETF assets at the end of 2008. AT the end of 2007, this figure stood at €5.8bn, and therefore iShares has seen a threefold increase in new money flowing into their ETFs.
Risk management and volatility still top the list of defined benefit pension plan woes when it comes to funding
Pension schemes are calling on investment managers to cut their fees, according to a survey by bfinance.
The organisation surveyed institutional investors and asset managers across ten countries, including the UK, the Nordics and Germany, on their sentiments regarding fees and performance. Two surveys were conducted, on fee levels and perceived value for money offered by investment managers to investors.
The Swiss economy is set to slide into recession in 2009, predict experts at Credit Suisse.
Switzerland's real economy finally felt the full force of the financial crisis in late 2008. Previous to this, the country had held up considerably better than that of other industrialised nations, but economists fear that Switzerland's gross domestic product (GDP) could decline by 0.6 per cent in 2009, with an inflation rate of 0.7 per cent.
A turbulent 2008 took its toll on Irish pension funds, with recorded losses of €27bn as managed funds declined by 34.8 per cent, according to Rubicon Investment Consulting. Leading a dismal set of results was Setanta Asset Management, with a return of -29.6 per cent, and Hibernian Investment Managers was the worst performing manager with a return of -38.8 per cent.
Norway's Ministry of Finance is referring to its Ethical Guidelines for the Norwegian Government Pension Fund - Global following the situation in Gaza.
Polish open pension funds OFE have recorded a negative rate of return of 14 per cent for 2008. The market watchdog also said that, between January and December 2008, OFE lost zl.21.5bn.
European Pensions Netherlands Summit: |
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Light at the end of the tunnel |
Intercontinental, Amstel |
