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.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.