Including: FRANCE - Unions call off strikes; SWEDEN - AP4 chooses BlackRock; UK - Watson Wyatt expands strategy group; AUSTRALIA - Future Fund appoints director of FI and alternatives; ITALY - Banco Popolare and Citi expand custody relationship
Widespread strike action in France relating to the ongoing unrest over the proposed reforms to the special pension regimes has been called off following union splits. Round table talks between the unions, employers and government have made moderate progress, undermining the case for industrial action. A lack of motivation following the extensive strikes last month was also cited as a reason why this round of walk-outs has failed.
SWEDEN - AP4 chooses BlackRock
AP4, the Fourth Swedish National Pension Fund, has appointed BlackRock as equity manager in the Pacific region. BlackRock will manage a portion of a total Pacific equity portfolio for a period of four years. Further investment managers for the other sections of the portfolio are to be announced.
UK - Watson Wyatt expands strategy group
Watson Wyatt has announced the appointment of Philip Tindall to its investment strategy team, taking the number of members over 50. The expansion reflects increasing demand for risk management and structured product advice as part of an industry-wide move to liability driven investment (LDI).
AUSTRALIA - Future Fund appoints director of FI and alternatives
Mitchell Stack has been appointed investment director for fixed interest and alternatives at the Future Fund. He will be responsible for researching and managing mangers and products across the areas of fixed interest and non-equity alternatives. Stack joins from Western Asset Management.
ITALY - Banco Popolare and Citi expand custody relationship
Banco Popolare has chosen to extend its custody arrangement with Citi by including the assets of its institutional asset manager clients. Banco Popolare cited operational efficiencies and economies of scale as the reasons it chose to expand its business with Citi.
In this week's Pensions Buzz, we want to know whether or not you believe that business facing financial distress should be able to suspend their auto-enrolment contributions to avoid rising costs.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.