All IPE articles in August 2008 (Online)
View all stories from this issue.
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NewsAbolition of pensions divorce limits delayed six months
[16:10 CEST 29-08] UK – Restrictions imposed on people who receive part of their ex-partners pension benefits following a divorce will be removed from April 2009 - at a delay of six months - the government has confirmed.
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NewsIrish DC members may switch in ‘semi-state’ DB change
[17:00 CEST 29-08] IRELAND – Trustees of defined contribution pension schemes at Irish universities are considering recommending their members move into defined benefit schemes following a recent decision by the Irish government to take responsibility for the assets and liabilities of ‘semi-state’ bodies’ pension plans.
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NewsAegon taps new Spanish wealth
[16:45 CEST 29-08] SPAIN – Aegon, the Netherlands-headquartered insurer and asset manager, has taken a 50% stake in the life and pensions arm of north-eastern Spanish savings bank Caixa Terrassa for €190m, in a bid to expand the take-up of its life and pensions offering.
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NewsAP3 loses €1.8bn in H1
[16:30 CEST 29-08] SWEDEN – Tredje AP-fonden (AP3), the third Swedish national pension fund, saw its fund capital fall SEK17.3bn (€1.8bn) in the first half of this year, as a result of "turbulent and weak conditions on financial markets".
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NewsGov't told employers 'need to be pressured into risk sharing'
[16:15 CEST 29-08] UK – A risk-sharing approach to pension provision, such as conditional indexation, would only be adopted by employers if faced with regulation or pressure from competitors, according to BMRB Social Research.
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NewsGov't denies policy u-turn on personal accounts
[16:00 CEST 29-08] UK – The government has rejected industry accusations suggesting it has performed a "policy u-turn" and is "destroying" existing pension provision by ignoring pensions industry proposals for a principles-based approach to contribution levels.
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NewsMarket capacity no issue for buyouts
[15:45 CEST 29-08] UK – The pensions buyout market is more likely to be constrained by "unattractive prices" than by market capacity, according to Punter Southall Transaction Services (PSTS).
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NewsPNO dips below cover ratio despite commodities growth
[14:00 CEST 29-08] NETHERLANDS – The €2.8bn pension fund PNO Media saw spectacular returns of 41.4% on its investment in commodities in the first half of this year, but it was not enough to prevent the fund from falling below the minimum required cover ratio.
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News'Sophisticated' Dutch funds lead LDI pack
[17:00 CEST 28-08] NETHERLANDS – Dutch pension fund strategies have been described as being the most advanced among their developed country peers, as a study of executives suggests the majority have adopted liability-driven investment (LDI) strategies alongside the broadest range of products.
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NewsEureko says yet to resolve PZU dispute
POLAND – Eureko officials have revealed its long-running dispute with the Polish government on the acquisition of shares in state-owned insurer PZU has yet to be resolved, despite previously stating it aimed to agree a deal by June.
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NewsABP extends microfinance commitments
[16:00 CEST 28-08] NETHERLANDS – ABP, Europe’s second-largest pension fund by value, has stepped up its position in microfinance investing, and asked Swiss asset manager BlueOrchard to manage a further €50m.
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NewsKAS Bank’s custody income hit by markets
[15:45 CEST 28-08] NETHERLANDS - KAS Bank saw its income from custody and investment management services decrease by 14% to €14m in the first six months of 2008, mainly because lower market prices forced a drop in value of assets under custody.
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NewsAP1 to increase equities despite 8% loss
[15:30 CEST 28-08] SWEDEN - Första AP-fonden (AP1), the first Swedish national pension fund, intends to increase its equity exposure, despite a drop in assets of SEK17bn (€1.8bn) in the first half of 2008 and a total investment return of -8%.
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NewsPPF's CEO to step down
[13:15 CEST 28-08] UK – Partha Dasgupta, chief executive of the UK's Pension Protection Fund (PPF) has announced he will step down from the role in June 2009 in search of fresh challenges.
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NewsNPRF awards €600m emerging market mandate
[14:00 CEST 28-08] IRELAND – The National Treasury Management Agency (NTMA) has appointed three managers to run emerging market mandates for the National Pension Reserve Fund (NPRF).
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NewsCrédit Agricole suffers in tough conditions
[13:45 CEST 28-08] FRANCE – Crédit Agricole Group confirmed it is shaking up its Calyon operation on the back of announcing writedowns related to bond protection while its investment management division saw its assets under management fall by over €7bn in the first half of this year.
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NewsHenderson CEO quits as firm moves to Ireland
[12:45 CEST 28-08] UK – Roger Yates is stepping down as chief executive of Henderson Group and managing director of Henderson in November, after nine years in charge.
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NewsIcelandic pension assets hit €14bn
[17:10 CEST 27-08] ICELAND – The total value of Icelandic pension assets rose by 7% in real terms to ISK1.7trn (€14bn) in 2007, the Financial Supervisory Authority (FME) has revealed.
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NewsNorway SWF may 'earmark' funds for clean energy
[17:05 CEST 27-08] NORWAY – The Norwegian government has hinted the country's sovereign wealth fund (SWF) could divert assets into a separate fund to invest in clean energy and environmental funds.
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NewsOne in eight Europeans to reach age 80
[17:00 CEST 27-08] EUROPE – The number of people living to the age of 80 or more will almost triple by 2060, and almost one-third of the population will be over 65, the European Commission is predicting.
