INCLUDING - GLOBAL - Crunch to continue; UK - New appointment at GSAM; NETHERLANDS - President of ECB speaks at conference; RREEF enters Cyprus; GLOBAL - Impact of commodities
GLOBAL – Crunch to continue
Leading institutional investors believe it could take up to a year or more for credit markets to recover from the recent liquidity crisis, according to a new study.
82% of those polled in a Cantos City Panel survey, said it would take up to a year or more for credit markets to recover from the recent turmoil caused by worries over US sub-prime mortgages. A total of 23% said it could take up to two years.
UK – New appointment at GSAM
Goldman Sachs Asset Management has appointed Paul Craven as head of its UK & Ireland institutional business.
Craven replaces Oliver Bolitho who relocated to Hong Kong earlier this year to head up distribution for the group’s Asia ex Japan division.
Craven joined from PIMCO, where he was head of UK business development.
THE NETHERLANDS – President of ECB speaks at conference
Jean-Claude Trichet, the president of the European Central Bank, is to visit the Netherlands and speak at an ABP summit on Europe’s ageing population.
CYPRUS – RREEF enters Cyprus
RREEF has announced its first investment in the Cyprus real estate market through a joint venture with the Lanitis Group and the acquisition of Lanitis Development, a publicly listed real estate development company in Cyprus.
GLOBAL - Impact of commodities
Sharp rises in the global commodities and futures markets have been a positive development for pension funds, according to AIG Financial Products Corporation.
Following the sub-prime fiasco and the resulting drop in equities, Daniel Raab, managing director at AIG Financial Products Corporation, told Global Pensions that the commodities markets remained bullish.
This week's edition of Professional Pensions is out now
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.