All IPE articles in August 2008 (Online) – Page 2
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News
ABP calls for governance change at Fortis
[16:50 CEST 05-08] NETHERLANDS – Belgian Dutch financials firm Fortis needs to drastically change its governance structure, says major Dutch pension fund ABP.
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Wednesday people roundup
[13:30 CEST 06-08] GLOBAL – People roundup: Thomson Reuters, F&C, RCM, Aon, Vanguard, Composition Capital Partners, Northern Trust, SLCP.
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FTSE 100 deficit hits £41bn
[14:00 CEST 06-08] UK – Market volatility has caused the UK pension schemes of FTSE 100 companies to suffer a "severe swing" in funding level from a £12bn surplus to a £41bn deficit over the last 12 months, according to Lane Clark & Peacock (LCP).
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Passive LDI gives fake security – Pimco
[14:10 CEST 06-08] EUROPE – Structuring liability-driven investing (LDI) as passive mandates can create a false sense of security as some pension funds think they are risk-free, bond fund manager Pimco has warned.
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£864m Devonport scheme taps BlueBay
[14:45 CEST 06-08] UK – The £864m (€1.1bn) pension scheme of ship repair company Devonport Royal Dockyard, now part of the Babcock group, has appointed BlueBay to manage a corporate bond mandate.
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Irish managed funds fall 21% in a year
[15:00 CEST 06-08] IRELAND – The average Irish managed pension fund fell 2.6% in July, bringing the average annual return down to -21.4%, Hewitt Associates has revealed.
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Capacity of buyout providers in doubt
[14:15 CEST 06-08] UK – Consultancy firm Aon has warned pension buyout providers are buckling under the weight of current buyout demand and are struggling to cope with requests.
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Austrian funds return -4.95% in H1
[15:30 CEST 06-08] AUSTRIA – Pensionskassen in Austria saw their returns drop by 4.95% for the first half of this year, according to latest statistics revealed by the Austrian control bank (ÖKB).
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IBM’s dollar hedge keeps returns up
[16:10 CEST 07-08] NETHERLANDS - The €3.1bn pension plan of IBM Netherlands managed to achieve an overall return of 4.5% thanks to its currency hedge against the US dollar.
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BALPA lands a deal to end to pensions strike
[15:20 CEST 07-08] UK – The GMB trade union has called off the second day of a strike by members of the British Air Line Pilots Association (BALPA) over pay and pensions following a new offer from BALPA.
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F&C's uncertain future leads to institutional outflows
[15:30 CEST 07-08] UK – F&C Asset Management reported net institutional outflows of £1.9bn (€2.4bn) in the first half of 2008, following uncertainty over the future corporate structure of the business.
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Allianz increases inflows with help of bonds
[16:40 CEST 07-08] EUROPE – German financial group Allianz managed to grow its net inflows in the asset management business to €33bn in the first half of 2008.
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Fortis still waiting for Ping An
[16:55 CEST 07-08] NETHERLANDS – Fortis is still waiting for approval from the Chinese regulators to complete its €2.15bn joint venture with Chinese insurer Ping An, the Belgian Dutch financials firm confirmed today.
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£1.1bn Dyfed fund renews custody mandate
[16:00 CEST 07-08] UK – The £1.1bn Carmarthenshire County Council’s Dyfed pension fund has renewed its custody contract with HSBC Security Services.
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Aegon sees 8% rise in pensions earnings
[16:00 CEST 07-08] NETHERLANDS – Aegon, the Dutch insurance and pensions provider, today posted an 8% increase in underlying earnings before tax in its pensions and asset management business in the second quarter of this year.
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Ealing re-tenders pensions investment consulting
[15:45 CEST 08-08] UK – The London Borough of Ealing is reviewing Mercer’s position as investment consultant to the pension fund, in line with its regulatory duty to do so.
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Belgian institution to award cash mandate
[15:50 CEST 08-08] BELGIUM – A Belgian institutional investor is looking for a manager to handle a $125m (€82.6bn) Eurozone cash mandate, using IPE Quest.
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TPR guides on pension transfers
[16:00 CEST 08-08] UK – The UK pension regulator (TPR) today has published draft guidance to help trustees of defined benefit schemes calculate transfer values for members preceding new transfer value regulation coming into force later this year.
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AmCham criticises German SWF hurdles
[16:15 CEST 08-08] GERMANY – Plans by the German government to raise bars for sovereign wealth funds (SWFs) to invest in German companies have come under fire from the American Chamber of Commerce (AmCham).
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Skandia's int'l arm to unveil new Swedish pension
[16:45 CEST 08-08] SWEDEN – Skandia International will unveil a new pension plan for the Swedish pensions market later this month allowing employers to give executives access to a wider range of pensions investments, but which will is not part of the Skandia Liv offering.
