All IPE articles in August 2008 (Online) – Page 2
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NewsATP investment returns drop as charges rise 20%
[16:45 CEST 27-08] DENMARK- ATP Group, Denmark’s largest pension fund provider, has revealed investment returns substantially reversed in the first half of this year at the same time as it is raising costs to its members.
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NewsFinnish state fund drops 6.4%
[16:10 CEST 27-08] FINLAND - Valtion Eläkerahasto (VER), the Finnish state pension fund, posted a first half return of -6.4%, driven by a 17% loss on equity investments while Etera Mutual Pension Insurance Company lost €460m.
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NewsWednesday people roundup
[15:30 CEST 27-08] GLOBAL – People roundup: State Street, Hermes, HSBC Actuaries & Consultants, MetLife, Sinopia AM, Alexander Forbes Trustee Services. F&C, New Star International, Barrie & Hibbert
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NewsProposed accounting rules to relieve Dutch companies
[15:00 CEST 27-08] NETHERLANDS - The Dutch Accounting Standards Board (RJ) has issued new guidance, which it is hoped will slow the trend of companies changing their pension arrangements into defined contribution plans.
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NewsNorway Global loses €4.9bn in Q2
[16:55 CEST 26-08] NORWAY – The Norwegian Government Pension Fund – Global reported a return on investments of -1.9% in the second quarter of 2008, reducing the value of the fund by NOK39bn (€4.9bn).
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NewsDutch schemes are 'weathering the storm'
[16:50 CEST 26-08] NETHERLANDS - Dutch pension funds have survived the market turbulence well so far and should be capable of withstanding further financial blows without jeopardising their financial commitments, Social Affairs minister Piet Hein Donner has suggested.
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NewsNorfolk awards active currency mandates
[16:45 CEST 26-08] UK – Norfolk County Council has awarded active currency mandates to Goldman Sachs Asset Management and Auriel Capital Management.
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News'Restrictive' market causes drop in open DB schemes
[16:40 CEST 26-08] UK – Tighter regulation, increased longevity and volatile market conditions have collectively reduced the number of open defined benefit (DB) schemes from almost a third in 2007 to 17%, Aon Consulting has claimed.
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NewsRomanian regulator warns BT Aegon over pensions marketing
ROMANIA – The Comisia de Supraveghere a Sistemului de Pensii Private (CSSPP), the regulator for private pensions, has issued a written warning to the BT Aegon Fond de Pensii S.A for failing to inform the regulator about the "illegal actions of their sales force".
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NewsSainsbury’s pension moves into de-risking strategy
[16:00 CEST 26-08] UK – The £4.2bn (€5.3bn) J Sainsbury pension and death benefit scheme may have seen a fall in the value of its pension assets limited as officials altered its investment strategy in the last financial year to cope with swings in the bond and equity markets and ...
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NewsDanish pension fund pursues high alpha strategy
DENMARK – A Danish industry-wide pension fund is looking to place €50m of its assets under a high alpha European equities strategy, and is looking for a manager to handle it, via IPE Quest.
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NewsPension bodies oppose pensioners’ increased say
[14:00 CEST 26-08] NETHERLANDS - Pension fund representative organisations say they are disappointed to discover MPs have put forward a ‘hidden’ element of proposed legislation which would give pensioners increased say in pension schemes’ governing bodies.
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NewsVeritas solvency strong despite 4% fall
[16:45 CEST 22-08] FINLAND - Veritas Mutual Pension insurance company retained a strong solvency ratio in the first half of the year at twice the minimum required limit, despite reporting negative investment returns of -4%.
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NewsFinnish local government fund assets drop 3%
[16:40 CEST 22-08] FINLAND – Kuntien Eläkevakuutus (Keva), the Finnish Local Government Pensions Institution, has reported a negative return of -7.5% on investments for the first half of 2008, as assets fell to €22.9bn.
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NewsSwedish buffer fund loses €2.2bn in H1
[16:25 CEST 22-08] SWEDEN – Andra AP Fonden, the second Swedish national pension fund buffer (AP2), lost SEK20.3bn (€2.2bn) in the first half of 2008, following recent volatility in global markets.
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NewsRentokil runs counter to Menzies and Persimmon deficits
[16:20 CEST 22-08] UK – The £232m (€293m) John Menzies defined benefit (DB) scheme has moved from having a fully-funded surplus to being in deficit in the first half of 2008, alongside housebuilder Persimmon's extending gap, but the Rentokil pension fund has bucked the trend by using its escrow account.
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NewsAllianz responds to demand for Pensionsfonds risk
[16:15 CEST 22-08] GERMANY – German financial group Allianz is relaunching its “Pensionsfonds Chance” offering to deliver various risk levels, on the back of demand from clients who want to pay lower additional contributions.
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NewsGerman pension fund reviews equities
[15:15 CEST 22-08] GERMANY – A German corporate pension fund is looking to hire asset managers to look after two US and Japanese equity mandates, using IPE Quest.
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NewsBrick industry pensions switch to Cordares
[13:00 CEST 22-08] NETHERLANDS - The three pension funds of the brick-manufacturing industry have chosen pensions provider Cordares as their new pension administrator.
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NewsCourt issues €5,000 fine for obstructing pension ombudsman
[16:50 CEST 21-08] IRELAND – The director of an Irish building firm is the first person to be fined €5,000 and costs by a criminal court for obstructing an investigation by the Pensions Ombudsman.
