All IPE articles in August 2007 (Online) – Page 8
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News
ICI disputes pensions longevity financing
[13:00 CEST 03-08] UK – ICI and pension fund trustees are in disagreement about the level of funding required to support the longevity risk of its main pension scheme.
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PGGM to increase concentrated risk investments
[12:00 CEST 03-08] NETHERLANDS – The €86bn Dutch pension fund PGGM, the second largest in the Netherlands, will double its concentrated risk investments in 2007, IPE has learnt.
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RailPen pushes into non-railway administration
[11:05 CEST 03-08] UK – RPMI, the third-party administrator set up by the £17bn (€25bn) Railways Pension Scheme (RailPen), are about to take on the fund administration for two major UK pension schemes, IPE has learnt.
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JP Morgan poaches pensions expert from Goldman Sachs
[16:30 CEST 02-08] GERMANY – JP Morgan’s German unit has poached Dirk Popielas, a well-known German pensions expert, from Goldman Sachs to head its pensions advisory group for Germany and Austria.
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Medical scheme to guarantee 3% indexation
[16:00 CEST 02-08] NETHERLANDS - The €5bn occupational pension for medical consultants SPMS will guarantee its participants a yearly indexation of at least 3%, it has announced.
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CSAM assets rise by a fifth
[15:00 CEST 02-08] GLOBAL – Credit Suisse Asset Management reported increases in assets under management and pre-tax profit for the first half of 2007 despite continued outflows in equity products.
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Dutch merchant navy taps ABN
[14:00 CEST 02-08] NETHERLANDS – The Dutch €3.4bn Merchant Navy Pension Fund (Bedrijfspensioenfonds voor de Koopvaardij) has appointed ABN Amro Mellon Global Securities Services as its global custodian for assets valued at €1bn.
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IPE-QUEST: Equity mandates for the Middle East
[13:00 CEST 02-08] UK – Investors in the Middle East are looking for pan-European, global, US and emerging market equity managers using IPE-Quest.
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Dutch schemes hit by poor performance of GSAM’s GTAA
[12:00 CEST 02-08] NETHERLANDS – Dutch pension funds who invested in a global tactical asset allocation (GTAA) strategy from Goldman Sachs Asset Management (GSAM) have been shaken by the strategy’s recent poor performance, IPE has learned.
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ICI replaces Bank of New York
[11:08 CEST 02-08] UK – The £400m Speciality Chemicals Pension Fund of British paints major Imperial Chemical Industries (ICI) has rehired JP Morgan Chase as its custodian, replacing the Bank of New York (BoNY).
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Pharma major hires Mercer for DC review
[16:30 CEST 01-08] UK – Pharmaceuticals giant GlaxoSmithKline (GSK) has hired Mercer Human Resource Consulting to review the design and investment strategy of its £850m (€1.3bn) UK-based defined contribution (DC) plan.
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Active managers see 'fee cake' crumble - IMA
[16:00 CEST 01-08] UK – The continuing trend among pension funds towards separating index tracking from absolute returns is a challenge for some active managers the UK's Investment Management Association (IMA) found.
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Hedge funds eye Dutch investment vehicle - adviser
[15:30 CEST 01-08] NETHERLANDS - A “considerable” number of hedge funds and other investment funds mare considering a move to the Netherlands, in order to benefit from the new tax-free investment vehicle VBI, suggest industry experts.
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PwC to advise government on pensions
[14:00 CEST 01-08] UK – The UK government has awarded the contract for the review of civil servants pension delivery.
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Dorset joins currency trend
[13:00 CEST 01-08] UK – The £1.4bn (€95m) Dorset County Council Pension Fund is looking for an active currency manager.
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Wednesday people roundup
[12:05 CEST 01-08] GLOBAL – F&C, Carnegie, TIAA-CREF, Schroders, IAM, SWIP, Pension Corporation, Sacker & Partners, DeAM, CBRE Investors, CSAM, Norilsk Nickel
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News
Zurich scheme results are among industry best
[11:30 CEST 01-08] SWITZERLAND – PKZH, the CHF14.2bn (€8.6bn) pension fund for the city of Zurich, has reported some of the best performance figures for 2006, including a return well above the industry average and one of the highest funding ratios among Swiss schemes.
