All IPE articles in August 2007 (Online) – Page 7
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Pension surplus under threat from equities - LCP
[14:00 CEST 08-08] UK – Companies whose pension schemes remain heavily invested in equities should reconsider they are in a vulnerable position, argues Bob Scott, partner at Lane Clark & Peacock (LCP).
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Wednesday people roundup
[13:15 CEST 08-08] GLOBAL – CSAM, Morgan Stanley, Hewitt, KPMG, Janus Capital, ITS, RLAM, AIMA, HSBC, BGI.
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Irish finances lifted by NPRF in 2006
[17:00 CEST 07-08] IRELAND – Strong gains for the National Pensions Reserve Fund (NPRF) and an eventual budget surplus meant Irish state finances were better off by €7bn more than expected last year, the National Treasury Management Agency (NTMA) has suggested.
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Dutch funds unconvinced by 'unfavourable' Fortis bid
[16:30 CEST 07-08] NETHERLANDS – A group of six Dutch pension fund-heavyweights yesterday voted against and displayed harsh criticism of Belgian-Dutch financials group, Fortis’ proposal for the potential ABN Amro takeover.
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Bulgaria to increase pensions
[16:00 CEST 07-08] BULGARIA – The three parties making up Bulgaria’s coalition government have agreed a 10% increase in state old age pension payments from October.
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Assumed solvency improves on market gains
[15:00 CEST 07-08] EUROPE - Pension fund solvency significantly improved in the first six months of this year in three European countries but may now have been hit by market losses, suggests research from Lehman Brothers.
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Equities and alternatives boost Varma returns
[14:30 CEST 07-08] FINLAND – The largest Finish pension insurer Varma has posted a 6% return on investments for the first half of this year.
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US sub-prime crisis prompts fund closures in Germany
[14:00 CEST 07-08] GERMANY – Shockwaves from the US sub-prime loan crisis have hit Germany and prompted three providers of asset-backed securities (ABS) to temporarily close their funds.
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Robeco beats F&C to 130/30 Europe
[11:00 CEST 07-08] NETHERLANDS - Robeco is launching a ‘short-extension’ European equities fund which promises a “high return” by making extended use of derivatives.
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Swiss multi-employer scheme loses CEO and CFO
[16:30 CEST 06-08] SWITZERLAND – Pension Fund Services (PFS), a multi-employer scheme that has been in existence since 2001, has lost its chief executive officer and chief financial officer.
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Rürup urges MPs to cut their pensions
[16:00 CEST 06-08] GERMANY – Professor Bert Rürup, a leading pension expert and government economic adviser, has urged German MPs to cut their pensions to show solidarity with working Germans whose pensions are already being reduced.
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F&C stems net outflows to £1.6bn
[15:30 CEST 06-08] EUROPE – A 24% rise in inflows helped F&C Asset Management reduce a £3.3bn (€4.9bn) outflow of institutional money in the first six months to £1.6bn.
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Fortis steps closer to annex ABN’s asset management
[15:00 CEST 06-08] BELGIUM/THE NETHERLANDS – Belgian-Dutch financial services group Fortis has won initial shareholder support today for its part of a three-bank bid to buy the beleaguered Dutch bank ABN AMRO.
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PRSAs jump the €1bn hurdle
[14:00 CEST 06-08] IRELAND – Assets held in Irish Personal Retirement Savings Accounts (PRSAs) have now crossed the £1bn mark, according to the latest figures from the Pensions Board.
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One in five chose pension fund for TFR
[13:30 CEST 06-08] ITALY – Eight out of 10 Italian workers have explicitly made a choice on where to put their severance pay (trattamente di fine rapporto, TFR) while only 10-15% used the 'silent assent' clause, figures released by the labour ministry reveal.
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Tower Hamlets tenders currency
[13:00 CEST 06-08] UK – The £640m (€944m) London Borough of Tower Hamlets Pension Fund is looking to appoint one or more managers for a specialist currency mandate of between £100m and £500m.
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Market gains could reduce cash funding
[16:00 CEST 03-08] UK – Financial directors are being advised to review their funding deficits as improved market conditions may have reduced the level of contributions now required.
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Cardiff seeks transition managers
[16:00 CEST 03-08] UK – The £899m (€1.34bn) Cardiff and Vale of Glamorgan Pension Fund is looking for a ‘panel’ of transition managers, IPE has learnt.
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FRR loses its CIO
[15:30 CEST 03-08] FRANCE – Jean-Louis Nakamura is leaving the Fonds de Reserve (FRR) pension fund to head up the French civil service pension fund.
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Irish pension funds 'too patriotic', say consultants
[14:00 CEST 03-08] IRELAND – Irish managed pension funds generated a negative return of 3% for the month of July, mainly because of their high exposure to Irish equities, according to consultants.
