All IPE articles in August 2008 (Online)
View all stories from this issue.
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NewsHackney seeks admin provider to replace LPFA
[15:45 CEST 01-08] UK – The London Borough of Hackney is seeking a new provider of pension administration and pension payroll services ahead of the expiry of its current contract with the London Pension Fund Authority (LPFA) next year.
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Cambridgeshire awards global equity mandate
[16:10 CEST 01-08] UK – The £1.4bn (€1.8bn) pension fund of UK local authority Cambridgeshire county council has tapped RCM to manage a £140m global equity mandate.
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Allow pensioners on all schemes’ boards – MPs
[16:15 CEST 01-08] NETHERLANDS - Dutch MPs have tabled an amendment of the Pension Act giving pensioners of industry-wide schemes an equal say on the board, like their fellow pensioners of company pension funds.
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NewsBALPA faces new strike threat as pension talks falter
[16:20 CEST 01-08] UK – Industrial action by employees of the British Air Line Pilots’ Association (BALPA) will begin next week after conciliation talks over changes to the final salary pension scheme broke down.
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NewsHewitt and Paternoster disagree on pension transfers
[16:30 CEST 01-08] UK – Consultancy company Hewitt and UK pension buyout firm Paternoster have gone head-to-head over the issue of incentivising defined benefit pension scheme members to transfer out of corporate pension schemes.
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NewsIBM moved 10% to LDI in 2007
[16:40 CEST 01-08] UK – The £5.5bn (€7bn) defined benefit (DB) section of the UK IBM Pension Plan made three manager changes in 2007 in addition to allocating over 10% of its assets to a pooled liability driven investment fund run by Barclays Global Investors (BGI).
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NewsDeficits near 2007 levels as schemes wise up
[16:50 CEST 01-08] UK – Deficits of the 200 largest UK final salary schemes improved by £8bn (€10bn) during July, as pension funds increased and adopted more sophisticated investment activity during the second quarter of this year, suggests research from Aon Consulting.
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NewsFortis sees outflows as shareholders rally
[14:30 CEST 04-08] EUROPE – Fortis today admitted it had a tough first half and pledged to conduct more dialogue with shareholders, following €2.5bn outflows and lower equity markets impacting negatively on assets under management.
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NewsCost of fraud triples for Philips fund
[15:00 CEST 04-08] NETHERLANDS – The €13.4bn Dutch pension fund of electronics major Philips has executed several sequestrations in relation to its involvement in the recent property fraud, now estimated to have cost the fund €150m.
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NewsF&C’s Peter Hans Budde dies
[15:15 CEST 04-08] NETHERLANDS – Peter Hans Budde, the country head of F&C’s Dutch office in Amsterdam, has died at the age of 51.
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NewsPension funds 'to trigger corporate CEE bonds'
[15:30 CEST 04-08] CEE – The growth of funded second pillar systems in Central and Eastern Europe will lead to more and more corporates in the region issuing bonds, analysts from the Austrian Erste Bank group have predicted.
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OECD releases new governance guidelines
[16:30 CEST 04-08] GLOBAL – The Organisation for Economic Co-operation and Development (OECD) has released its new pension fund governance guidelines for public comment.
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NewsPPF tenders £100m global equity portfolio
[16:35 CEST 04-08] UK – The Pension Protection Fund (PPF) is seeking a new global equities manager to run a portfolio expected to reach £100m (€126m) in the first year of the contract.
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NewsGovernment take £419m from miners' pension schemes
[16:50 CEST 04-08] UK – The Department for Business, Enterprise and Regulatory Reform (BERR) has confirmed it withdrew more than £400m (€500m) from two closed miners’ pension funds in 2007.
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NewsBöhm joins consultancy network
[15:35 CEST 05-08] GERMANY/GLOBAL – German consultancy Böhm – soon to become Funk Böhm Consultants – has joined Abelica Global, formerly known as Milliman Global, one of the largest networks of actuaries and consultants worldwide.
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Trustees classed as money laundering 'low risk'
[15:50 CEST 05-08] UK – Professional trustees may avoid having to register as a Trust or Company Service Provider under new money laundering regulations, as occupational pension schemes have been classified as “low risk”.
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L&G buyout business hits £1.4bn in six months
[16:00 CEST 05-08] UK – Legal & General has completed pension buyout business valued at £1.4bn (€1.8bn) in the first half of 2008 compared to £382m for the same period in 2007.
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NewsNorthern Rock pension talks reach impasse
[16:10 CEST 05-08] UK – Sir David Chapman, chairman of the trustees of the £350m (€441m) Northern Rock final salary scheme, has announced talks with the company have come to a halt over “fundamental differences” on investment strategy.
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BPF Schilders sticks with underperforming managers (amended)
[16:20 CEST 05-08] NETHERLANDS - The €3.5bn pension fund for the painting, finishing and glazing sector said last year’s disappointing performances of external managers will not automatically lead to the termination of contracts.
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Welsh fund taps Newton for global equities
[16:40 CEST 05-08] UK – Rhondda Cynon Taff County Council has awarded Newton Investment Management a £221m (€278m) active global equity mandate.
