Asset Managers – Page 198
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News
Trustees advised to consider short-term activity
[17:05 CEST 31-03] IRELAND – The Pensions Board has argued trustees need to think more about sustainability and the impact of short-term events on long-term promises if defined benefit (DB) schemes are to be a “viable alternative” to defined contribution (DC) funds.
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Bank of England scheme pre-empted crisis
[17:00 CEST 31-03] UK – The Bank of England Pension Scheme appeared to almost pre-empt the financial crisis of last year as it returned 12% in the year to February 2008 and reduced equity holdings so it could invest in index-linked gilts.
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National funding rules deter multinational derisking
[16:50 CEST 31-03] GLOBAL – AEGON Global Pensions has warned local regulations on pension fund governance have added an extra layer of complexity for multinational companies who want to derisk pension schemes.
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Former Compendeon CEO targets emerging markets
[16:55 CEST 30-03] NETHERLANDS – Erik van Dijk, former chief executive and chief investment officer at Compendeon, has set up a new implemented consulting business with a strong focus on emerging markets.
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Footballer scheme’s positive return from 100% fixed income
[17:10 CET 27-03] NETHERLANDS - The €560m ‘pension fund’ for Dutch professional football players generated positive returns of 1% after allocating all its assets to fixed income investments in mid-2008.
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ONS to monitor signs of DC 'levelling down'
[15:00 CET 27-03] UK – The Office of National Statistics (ONS) intends to monitor changes in the average level of employee and employer contribution rates to contracted-in defined contribution (DC) schemes to see if there are signs of “levelling down” ahead of 2012.
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NBIM wants improvement in child labour policies
[14:00 CET 27-03] NORWAY – Norges Bank Investment Management (NBIM) has revealed an "overall low" level of compliance with its expectations on children's rights across four investment sectors.
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Powys seeks global equity replacement
[12:00 CET 27-03] UK – Powys Council is seeking a global equity manager to manage a £27m (€28.9m) mandate, while the Royal borough of Kensington and Chelsea (RBKC) is tendering an actuarial contract.
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PPM sees info as priority for new Swedish authority
[16:50 CET 26-03] SWEDEN – The development of a new pension authority to cover both the state pension and the Premium Pension savings will be a “golden opportunity to increase knowledge and interest on pensions”, the Premium Pension Authority (PPM) has claimed.
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ICTU calls off pension strike to enter talks
[16:40 CET 26-03] IRELAND – The Irish Congress of Trade Unions (ICTU) has called off next week's planned one-day national strike over pensions, and is returning to talks with the government over the development of an "integrated national response".
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Finnish pensions to fall as bank predicts 5% GDP drop
[16:55 CET 25-03] FINLAND – Suomen Pankki, the Bank of Finland, has warned economic recovery has been delayed until 2010 and the value of pension funds will fall, as the predicted 5% growth in real GDP between 2008-10 is now expected to be a 5% decline.
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IAPF warns gov't against pension tax cuts
[16”50 CET 25-03] IRELAND – The Irish Association of Pension Funds (IAPF) has warned the government against cutting tax relief on pensions to provide short-term financing, in a pre-emptory move ahead of the Irish supplementary budget in April.
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News
Andy Mack replaces Dilworth at MSIM Europe
[12:10 CET 25-03] EUROPE - Jim Dilworth has left his position as Europe head at Morgan Stanley Investment Management (MSIM) after just two years in the role, a spokeswoman has confirmed.
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Aon and Russell link for fudiciary management
[17:10 CET 24-03] EUROPE – Aon Consulting and multi-manager investment house Russell Investments are teaming up from July this year to deliver pension funds a full fiduciary management service.
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Northern Trust scales down MoM operations
[16:10 CET 24-03] GLOBAL – Northern Trust is closing its London-based manager-of-managers (MoM) research team and transferring the duties to its Stamford research team in the US.
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Icelandic pension funds under investigation
[17:20 CET 20-03] ICELAND – Iceland's special prosecutor is investigating five pension funds over claims they exceeded the investment limits laid down by law.
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Lothian to revise investment strategy
[17:20 CET 20-03] UK – An investment review of the Lothian pension fund is recommending changes to its investment strategy including an 11-percentage point increase in alternatives.
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ATP makes €300m foray into renewable energy
[17:05 CET 19-03] DENMARK – ATP Pension has invested $400m (€293.5m) in a global renewable energy fund which will target energy sources including solar and wind power.
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News
Fully-reinsured pensions face trouble - DNB
[17:00 CET 19-03] NETHERLANDS - Dozens of Dutch company pension funds who reinsured their assets and liabilities are now being challenged by market conditions and confronted with increased credit risks at their reinsurers, according to financial regulator DNB.
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Allianz notes decline in pension outsourcing
CZECH REPUBLIC – The crisis has led German companies to think less about outsourcing their pension arrangements, Gerhard Rupprecht, chairman of Allianz Germany, has claimed.
