All IPE articles in April 2009 (Online) – Page 5
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NewsTPR hints at flexibility in corporate planning
[16:35 CEST 17-04] UK – The Pensions Regulator (TPR) has acknowledged the extra pressure trustees and employers are facing in the current economic conditions and agreed the importance of its regulation remaining "proportionate and targeted".
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NewsProviders say traditional diversification needs rethink
[17:00 CEST 16-04] EUROPE – Classic balanced or multi-asset mandates have failed to protect pension funds during the current crisis and need to be reconsidered, according to both Allianz Global Investors and German consultancy Heubeck Feri.
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NewsFinnish pensions had 'worst year' in 2008
[16:55 CEST 16-04] FINLAND – Suomen Pankki, the Bank of Finland, has revealed 2008 was the "worst year in the history of employee pension schemes", following the slump in equity prices.
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NewsERAFP award global equity and eurobond mandates
[16:50 CEST 16-04] FRANCE – ERAFP, the French civil service supplementary pension scheme, has awarded five new asset management mandates as part of a €2.4bn diversification strategy.
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NewsIASB to unveil draft IFRIC14 amendments
[16:40 CEST 16-04] GLOBAL – The International Accounting Standards Board is planning to publish an ‘exposure draft’ of amendments to certain aspects of IAS19 later this year, which will allow a firm to recognise certain assets within its holdings as reducing future pension contributions.
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NewsEstonian gov’t takes contribution holiday
ESTONIA – The government of Estonia is suspending payment of its contributions to the second pillar pension regime for two years.
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NewsAlderney pensions deficit doubles
[16:15 CEST 16-04] UK – The States of Alderney, part of the British Channel Islands, has reported the deficit in its staff pension scheme had doubled by the end of 2008 as a result of the economic downturn.
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NewsAP3 completes venture into public real estate
[16:15 CEST 16-04] SWEDEN – Tredje AP-fonden (AP3), the Third Swedish National Pension Fund, has completed the purchase of a 50% stake in Hemsö, a subsidiary of the real estate firm Kungsleden AB.
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NewsS&P warns 3 in 10 high-yield debts could default
[16:10 CEST 16-04] EUROPE – Standard & Poor’s has predicted as many as 29% of existing Western European speculative-grade companies could default on their debt agreements by the end of 2010.
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NewsVodafone class action reopened on appeal (updated)
[17:20 CEST 15-04] UK/USA – An appeal by plaintiffs in a class action against Vodafone, including Lothian Pension Fund, has resulted in the case being reopened after it was originally dismissed over jurisdiction issues.
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NewsGov't faces Eq Life legal challenge for compensation
[17:15 CEST 15-04] UK – The UK government is facing a high court challenge from Equitable Life policyholders over its failure to fully implement the compensation recommendation of the Parliamentary Ombudsman.
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NewsNegative Q1 for Swiss pension funds
[17:10 CEST 15-04] SWITZERLAND – Swiss pensionskassen returned -1.5% in the first quarter, according to the latest calculations by Credit Suisse.
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NewsBonds downgrading ‘artificially lowered’ deficits – Hymans
UK – A downgrading in the credit rating of some of General Electric’s corporate bonds has in turn artificially lowered the reported pension deficits at the UK’s top 350 listed firms in the first quarter of this year, according to Hymans Robertson.
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NewsInvestors eyes growth in biotechnology
[16:45 CEST 15-04] IPE-QUEST – A continental European investor is looking to hire a manager to look after a $20m (€15.2m) biotechnology equity mandate, using IPE-Quest.
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NewsHeenk departs SEI
[16:30 CEST 15-04] EUROPE – Bart Heenk, managing director of the Benelux region for SEI Investments, has left the firm.
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NewsRussia moves on reforms as Ukraine seals IMF loan
UKRAINE – Dmitry Medvedev, president of Russia, has confirmed draft laws to change the country's pension system onto an insurance basis are being finalised, while Ukraine has implemented anti-crisis measures, including balancing of the state pension fund, to secure continued IMF funding.
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NewsWednesday people roundup
[15:15 CEST 15-04] GLOBAL – People roundup: T.Rowe Price Int’l, Finansinspektionen, Putnam Investments, P-Solve
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NewsHewitt to work with W.Yorks pension fund
[17:15 CEST 14-04] UK – Bradford City Council has appointed Hewitt Associates as the new actuarial services provider to the West Yorkshire Pension Fund.
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NewsDB deficit hits £242bn despite changes to data
[17:15 CEST 14-04] UK – Updated scheme valuations have improved the estimated funding position of defined benefit (DB) schemes in the Pension Protection Fund's (PPF) 'eligible universe' by around £15bn (€16.9bn), though the reality is deficits have widened further.
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NewsIMF warns Croatia against changing second pillar
CROATIA – The International Monetary Fund (IMF) has warned there could a negative repurcussions which go beyond the pension system should Croatia abolish occupational pension provision.
