All IPE articles in April 2007 (Online)
View all stories from this issue.
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News
Bank of NY axed at Buckinghamshire fund
UK - Buckinghamshire County Council Pension Fund has hired ABN Amro Mellon to replace the Bank of New York as its custodian.
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OECD to study pension costs and returns
GLOBAL - The Organisation for Economic Cooperation and Development is to commission two reports covering pension funds’ costs and returns.
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Ex-ABP chief outlines Axial strategy
NETHERLANDS/UK – Jan Straatman, the former capital markets head at Dutch pension giant ABP, has outlined his investment strategy for new London-based asset manager Axial.
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Troubled Greek scheme gets new head
GREECE – Andreas Kintis has been appointed as the chairman of the Greek Civil Servants’ Auxiliary Fund (TEADY), following his predecessor’s forced resignation over bond-overpricing allegations.
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Finland drafting new pensions regulations
FINLAND – The Finnish ministry of social affairs and health is drafting a new set of regulations for the country’s pensions sector and will publish a timetable of the reform process later in April, IPE has learnt.
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UK’s NAPF responds as pensions tax row escalates
UK – The National Association of Pension Funds has responded to what has become a major political row over the government’s decision a decade ago to remove Advanced Corporation Tax Relief from pension funds.
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IPE-QUEST: €1.6bn of new searches on system
GLOBAL – There are 15 new searches from a variety of different institutions – worth up to a combined $2.2bn (€1.6bn) of assets - currently on the IPE-Quest system.
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Managers criticised in German study
GERMANY – Property fund manager Oppenheim Immobilien KAG (OIK), bond specialist Pimco and Axa Investment Managers have elicited the most criticism in a new survey of German institutional investors.
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AZL facing court action from Dutch miners
NETHERLANDS – Dutch mineworkers are preparing legal action against pensions provider AZL in a dispute over payouts.
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Philips sets up Luxembourg pan-European scheme
LUXEMBOURG – Electronics giant Philips has set up a Luxembourg-based pan-European pension fund in accordance with the IORP directive on occupational pension funds.
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FRR launches transaction cost monitoring mandate
FRANCE – France’s national pension surplus fund, the €32bn Fonds de réserves pour les retraites (FRR), launched an open RFP today for a service provider to assist in reducing transaction costs.
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Irish reserve fund’s real estate chief departs
IRELAND – Ian Gleeson, head of property at Ireland’s €18.8bn National Pensions Reserve Fund, is to join Morley Fund Management.
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BNP Paribas deal nets €44bn of custody assets
EUROPE – BNP Paribas Securities Services has gained more than £30bn (€44bn) in custody assets with an agreement to acquire RBS International Securities Services.
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Belgian builders appoint Hewitt
BELGIUM – Belgian industry-wide construction workers’ scheme PensioB has appointed Hewitt Associates to design a tailor-made pension administration tool.
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Mercer chief executive earns $2.3m
GLOBAL – Michele Burns, the new chief executive at Mercer Human Resource Consulting, earned $2.3m (€1.7m) in 2006.
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€5bn Swiss energy fund names CFO
SWITZERLAND – Pensionskasse Energie, a CHF8.5bn (€5.2bn) pension fund for the Swiss energy sector, has appointed Bernard Rasper as its new chief financial officer.
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Pension impact in TNT job cull
NETHERLANDS – TNT Post, the Dutch postal service company, has announced possible changes to its pension scheme amid a cull of around 7,000 of its total 58,000 jobs.
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UK’s PPF appoints pool of legal advisers
UK – The Pension Protection Fund has appointed 27 law firms to provide legal advisory services.
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ING pension fund awards €2.2bn to Bank of NY
NETHERLANDS - The €10bn pension fund of Dutch finance giant ING has awarded a €2.2bn fixed income global custody mandate to the Bank of New York.
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DeAM names global institutional product head
GLOBAL – Deutsche Asset Management has named Sal. Oppenheim’s Frank Klein as its new global head of institutional product management and development.
