All IPE articles in April 2009 (Online) – Page 8
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NewsWestminster mulls frameworks amid manager concerns
[16:50 CEST 03-04] UK – Westminster City Council is considering the development of framework agreements to allow mandate changes to be speeded up, following concerns over manager performance.
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NewsNorway global to exclude tobacco and target environment
[16:45 CEST 03-04] NORWAY – The exclusion of tobacco-producing companies from the Government Pension Fund – Global and a NOK20bn (€2.26bn) environmental investment programme are just two of the measures announced by the Ministry of Finance following a review of ethical guidelines.
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NewsKesko signs leaseback deal with pension fund
[16:40 CEST 03-04] FINLAND – The Kesko Pension Fund has bought four retail properties for €50m in a sale and leaseback deal with Finnish trading company Kesko Group.
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NewsLawyers highlight obstacles to Irish DB cost cutting
[16:35 CEST 03-04] IRELAND – Law firm A&L Goodbody has warned pension schemes which are considering capping benefits or even the "unthinkable" of altering accrued pension need to be aware of the legal issues involved.
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NewsBexley appoints Hewitt for investment
[16:30 CEST 03-04] UK – The London Borough of Bexley has appointed Hewitt Associates as the investment adviser to its £390m (€427m) local government pension fund.
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NewsSwiss pension fund eyes real estate
[16:25 CEST 03-04] IPE-QUEST – A Swiss corporate pension fund is looking for a manager with experience of investing in the real estate markets to take care of a $70m (€52m) pan-European real estate fund-of-funds mandate, using IPE-Quest.
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NewsKPN to plug €390m pension funding gap
[16:15 CEST 03-04] NETHERLANDS – KPN, the Dutch telecommunications giant, is planning to contribute another €390m to its pension fund over the next five years, in a bid to raise its funding level to 105%.
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NewsIrish managed funds finally see positive return
[16:55 CEST 02-04] IRELAND – Irish group managed pension funds delivered the first positive return in seven months and produced a yield of 2.4% in March, Rubicon Investment Consulting has revealed.
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NewsSwiss pension pursues European equity (amended)
[16:55 CEST 02-04] IPE-QUEST – A Swiss pension fund is looking to hire a manager for a $40m (€29.9m) global equity mandate, using IPE-Quest.
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NewsAP Ethical Council targets 13 investments
[16:45 CEST 02-04] SWEDEN – The Ethical Council of the Swedish AP Buffer pension funds claimed three successes in 2008 in its dialogue approach to remedying breaches of ethical guidelines, although 13 companies are still on the Council's 'focus list'.
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NewsFinland reviews pensions at state firms
[16:35 CEST 02-04] FINLAND – The Finnish government has set up a working group to evaluate the remuneration guidelines of state-owned companies, including pension arrangements, and to propose reforms of the system.
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NewsRhondda and Somerset start manager searches
[16:25 CEST 02-04] UK – Rhondda Cynon Taf County Borough Council has initiated a search for at least two investment managers, while Somerset Council is seeking an active Japanese equity manager.
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NewsLongevity drives up MP pension costs
[16:15 CEST 02-04] UK – Members of Parliament (MPs) have been told their contributions to the £367.2m Parliamentary Contributory Pension Fund (PCPF) will rise after the latest actuarial report revealed the pension deficit had increased to £50.9m as a consequence of improved longevity.
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NewsMarket losses lower FRR mandate wins
[16:00 CEST 02-04] FRANCE – FRR, the €27.7bn French national pension fund, is dividing two equities mandates between a total of seven investment managers, albeit the sum invested is now smaller than originally advertised thanks to the impact of recent market falls.
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NewsSponsor threatens pensions withdrawal at LDI pioneer
[15:30 CEST 02-04] NETHERLANDS – Super de Boer, the employer sponsor behind the Super de Boer pension fund, will withdraw its support from the scheme from 1 January 2010 under the current terms, unless all parties involved can agree a funding recovery plan that the employer is happy with.
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NewsLabour Court tells SR Technics to fund deficit
[17:05 CEST 01-04] IRELAND – The Labour Court has recommended the Irish arm of SR Technics should "fully fund" the pension deficit in both the SR Technics scheme and the firm's share of the Irish Airlines' Superannuation Scheme.
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NewsGermany faces Riester changes
[17:00 CEST 01-04] GERMANY – The state-subsidised German supplementary pension vehicle Riester violates EU labour laws and changes must therefore be made, according to Advocate General to the European Court of Justice (ECJ).
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NewsPKA reports 6.3% loss
[16:55 CEST 01-04] DENMARK – PKA generated an overall return of -6.3% for its eight pension funds in 2008 as equity results offset positive fixed income performance.
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NewsTFR struggles to maintain momentum
[16:50 CEST 01-04] ITALY - Figures released by MEFOP, the Association for the Development of the Italian Pension Fund Market, present a confused picture of the development of second-pillar pension provision in Italy.
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NewsWednesday people roundup
[16:40 CEST 01-04] GLOBAL - People roundup: UBS, Hewitt Associates, LGIM, Fidelity International, Henderson, Callan Associates
