All IPE articles in April 2007 (Online)
View all stories from this issue.
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News
UN’s PRI hits $8trn mark
GLOBAL – The Principles for Responsible Investment (PRI), the international programme set up to consider social responsible investing (SRI) issues, has attracted $8trn (€5.9trn) since launching last April.
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UK mutual insurers talk merger
UK - Life insurance groups Royal London and Royal Liver Assurance have today announced they are in early talks about a possible merger.
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February correction fails to halt Swiss gains
SWITZERLAND – Pension funds in Switzerland got off to a good start in 2007, finishing the first quarter with an average return of 1.4%, according to WM Performance Services, a tracker of institutional portfolios.
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Report suggests indexation disclosure
NETHERLANDS – Pension funds should be obliged to disclose their approach to indexation, a report for the Dutch pension institute Netspar finds.
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Essex awards £1bn in mandates
UK – The £2.6bn (€3.8bn) Essex County Council Pension Fund has awarded a £1bn currency overlay mandate and a £150m unconstrained equity mandate.
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LAPFF targets Shell in oil pay protest
UK – The Local Authority Pension Fund Forum (LAPFF) is continuing its drive to reform oil companies’ pay deals by now calling for Anglo-Dutch oil giant Shell to attach safety-related performance targets to its management remuneration packages.
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Greek pension fund seeks day in court
GREECE – The Greek civil servants pension fund TEADY is seeking compensation through the courts from the broker which recommended the purchase of an overpriced bond.
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Watch out for LDI ‘nostrum’ – King
UK - Companies which offer Liability Driven Investment (LDI) solutions should carefully review whether they are making unrealistic representations, warns Max King, fund manager at Investec Asset Management.
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Bovenberg calls for governance clarity
NETHERLANDS - Dutch politicians must provide clarity on the governance model of new API funds, otherwise their improvement will be delayed and the export of pension expertise will not materialise, according to pensions expert Lans Bovenberg.
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Czech merger brings funds down to nine
CZECH REPUBLIC – Two Czech pension funds, Zemsky and CSOB Progres are to merge bringing further consolidation in the country's pension market.
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Aargau scheme in search for new members
SWITZERLAND – Aargauische Pensionskasse (APK), a CHF6bn (€3.7bn) pension fund for civil servants in the northern canton of Aargau, has posted an an above-average return for 2006 and said that it will open its doors to extra-cantonal employers.
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Liechtenstein wants to join IOPS
LIECHTENSTEIN – The Financial Market Authority in Liechtenstein wants to become part of the International Organisation of Pension Supervisors (IOPS).
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Italian regulator predicts “crucial” half year
ITALY – Pension fund watchdog, Covip, has described the first six months of 2007 as “crucial” in the growth of workplace savings.
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Cayman unwilling to raise regulation
CAYMAN ISLANDS – The registered home to 80% of the world’s hedge funds has reaffirmed its unwillingness to introduce stricter regulations on these products.
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Greece bows to ILO pressure over bank benefits
GREECE – The Greek government has invited union leaders to a meeting on the issue of 13 dissolved supplementary pension schemes of Greek banks following a reprimand from the International Labour Organisation (ILO).
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ABP, PGGM and Mn join ABN Amro rebellion
NETHERLANDS – ABN Amro, which has agreed to a £90bn merger with Barclays Bank, has come under fire from a small group of rebel institutional investor over the sale of its US subsidiary.
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IPE-QUEST: Dutch fund in EM bond search
NETHERLANDS – A Dutch institutional investor is seeking a local emerging markets bond manager for a $100m (€73m) active mandate using IPE-QUEST (QN802).
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ABN Amro frees up private equity arm
NETHERLANDS - ABN Amro, the Dutch bank subject to a bidding war from rivals, will transfer the management of most of its private equity business to an affiliate.
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Merseyside seeking all-in-one accounting system
UK – The £4bn (€6bn) Merseyside pension fund is looking to find an integrated accounting system which combines keeping track of the pension contributions inflow as well as the fund's investments.
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Germany revamps investment law
GERMANY – The government has approved a host of reforms of Germany’s investment law, including easing investment restrictions on open-ended real estate funds and institutional funds and cutting approval periods for new funds.
