All IPE articles in April 2007 (Online) – Page 6
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Hermes criticises VW but won't stop Piech
GERMANY – At the annual general meeting of car company Volkswagen (VW), shareholders, including UK’s fund manager Hermes, criticised the firm’s corporate governance.
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WHO warns on copycat pension systems
GLOBAL - The World Health Organization (WHO) has stated that developing countries should not copy pension systems currently available in the West.
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First pension appointment to UKSIF board
UK – Meagan Thompson, corporate governance counsel at Railpen Investments, has become the first pension scheme professional to join the board of UK Social Investment Forum (UKSIF).
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Alternatives perform well at PGGM
NETHERLANDS - Alternative asset classes performed very well during the first quarter, the €83bn healthcare and social work scheme PGGM reported.
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Butchers asked to chop property portfolio
NETHERLANDS – The Dutch €1.1bn industrywide butchers’ pension fund has clashed with pension regulator De Nederlandsche Bank (DNB) over demands to cut the scheme’s real estate holdings.
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€221bn Norwegian fund keeps on gambling
NORWAY – The NOK1.8trn (€221bn) Norwegian government pension fund has come under fire again for its investments – this time over gambling.
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UK small cap bosses enjoy 89% bonus rise
UK – The heads of FTSE100 companies enjoyed median bonus rises of 39% last year, according to data from corporate governance specialist, RREV.
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Dufas enters war on ‘regulatory arbitrage’
EUROPE – Hans Janssen Daalen, general director of the Dutch Fund and Asset Management Association (Dufas), has called for European standardisation of pension regulation to prevent “improper” jurisdictional rivalry.
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Allianz creates pension fund for care personnel
GERMANY – The Allianz Pensionskasse and clinic group Marseille-Kliniken have established a pension fund for the care profession.
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Greeks to strike over bond scandal
GREECE – The largest union in Greece has called a nationwide strike on May 15 in response to government handling of dubious bond purchases by pension funds.
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Berne teachers improving coverage ratio
SWITZERLAND – BLVK, the CHF5bn (€3.05bn) pension fund for teachers in Berne, says a good performance of its investments enabled it to post an above-average return for the year and further close its funding deficit.
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Four Winds Capital to raise $100m for timber
UK - Four Winds Capital, the alternatives boutique which recently established a London office, is looking for a secondary $100m in equity fundraising for timber fund, Phaunos.
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IPE-QUEST: Six searches for $600m to close Tuesday
EUROPE - Six of the 14 fixed income searches currently open on IPE-QUEST will close next Tuesday.
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Unilever taps JP Morgan for global equities
UK – The €5.6bn (£3.8bn) UK pension fund of household goods giant Unilever has appointed JP Morgan’s asset management arm to run a £440m global equities mandate.
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Turner slams "wreckage" of UK pensions
UK – Lord Turner, who chaired the Pensions Commission, has issued a broadside against the now-collapsed "house of cards" that was the UK’s pensions system.
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Asset shift hits Dutch corporate fund data
NETHERLANDS – Changes to Dutch corporate pension funds' investment strategies has meant that key performance data may not be published in full by their umbrella association, IPE understands.
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Norwegian maintenance funds appoints KLP
NORWAY – The NOK38m (€4.7m) Renovasjonen IKS, a new fund set up for the merged maintenance teams in Norwegian municipalities Stavanger and neighbouring Sandnes, has appointed KLP as its fund manager.
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Dutch LDI reaches €50bn - Cardano
NETHERLANDS – The volume of Dutch pension assets under liability-risk hedging strategies has reached €50bn, according to Cardano Risk Management.
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Hewitt hires from Watson Wyatt
UK – Hewitt Associates has hired a senior consultant from rival Watson Wyatt.
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Report outlines pension funds' SRI practices
GLOBAL – A new report from the United Nations has highlighted the socially responsible investment practices of some of the world's most influential pension funds.
