All IPE articles in August 2008 (Online) – Page 3
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News
More bad news for Danske Capital
[16:50 CEST 08-08] DENMARK – Danske Bank’s asset management business, Danske Capital, saw its assets under management decline by 11% to DKr572bn (€76.67bn) at the end of the first half of this year.
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Co-op's £5.3bn fund confirms custody consolidation
[16:55 CEST 08-08] UK – The £5.3bn (€6.7bn) Co-operative Group Pension Scheme (PACE) has tapped BNY Mellon Asset Servicing as its sole custodian.
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Longevity risk higher on TLP derivatives - MPL
[14:30 CEST 11-08] GLOBAL – Pensions funds are being advised to invest traded life policy funds as part of a strategy to hedge longevity rather than buy direct or opt for TLP derivatives, as a supplier to European pension funds argues only half of the risk is being hedged in ...
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£550m Enfield fund reappoints custodian
[14:45 CEST 11-08] UK – The London Borough of Enfield has reappointed State Street to deliver custody arrangements for its £550m (€700m) pension fund.
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Aegon seeks regrowth at end of merger transition
POLAND – Officials are hoping fewer Poles will opt to leave these funds now the legal transition period for merged pension funds Aegon and Skarbiec Emerytura has ended.
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British Energy denies buyout plan
[16:40 CEST 11-08] UK – British Energy has denied it is planning to buy out its pension schemes in an attempt to improve its position as a possible takeover target.
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'Too early for Fortis EGM', say funds (Update)
[16:40 CEST 11-08] NETHERLANDS – A number of large Dutch pension fund and pension fund providers have stamped a unanimous 'no' against shareholder organisations VEB’s call for an extraordinary general meeting (EGM) of Fortis’ shareholders.
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£32bn wiped from DB schemes in July - PPF
[16:55 CEST 11-08] UK – The total funding position of almost 7,800 defined benefit (DB) pension schemes was reduced by over £32bn (€41bn) in July, according to the Pension Protection Fund (PPF).
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IAPF warns against semi-state pension change
[16:55 CEST 11-08] IRELAND – The Irish Association of Pension Funds (IAPF) has today branded plans by the Irish government to guarantee pension liabilities of a number of semi-state bodies as short-sighted.
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UBS moves for a three-way split
[15:45 CEST 12-08] SWITZERLAND – Crisis-ridden Swiss bank UBS has decided to change its structure from a “one firm” business model to a group with three autonomous business divisions, in the wake of yet more losses at the firm.
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TIAA-CREF hunts real estate via London office
[16:00 CEST 12-08] US/UK – The New York-based Teachers Insurance and Annuities Association-College Retirement Equities Fund (TIAA-CREF), the second-largest retirement plan in the US with assets of $420bn (€281bn), has launched its first overseas office in London.
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Danish schemes given until 2009 for CSR compliance
[16:10 CEST 12-08] DENMARK – Danish pension funds will have until the end of 2009 to comply with new legislation requiring the inclusion of corporate and social responsibility (CSR) activity in the management's review of the annual report.
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AnalysisAnalysis: Do members care where the money comes from?
[16:25 CEST 12-08] UK/EUROPE - Attempts to introduce an ethical investment policy to the £4.3bn (€5.5bn) Merseyside Pension Fund (MPF) have so far met with failure, however the latest resolution passed by Liverpool City Council in July may just be "bland" enough to allow scheme members to have a say ...
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UK pension funds co-lead in Lehman Bros action
[16:30 CEST 12-08] UK – Lothian Pension Fund and the Northern Ireland Local Government Officer Superannuation Committee (NILGOSC) have been appointed co-lead plaintiffs in a class action against Lehman Brothers concerning losses relating to the sub-prime crisis.
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Finnish church and LGPI agree admin deal
[16:40 CEST 12-08] FINLAND – The Central Church of Finland pension fund has agreed a deal to transfer the administration of its scheme to the Local Government Pensions Institution between 2008 and 2011.
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GM and Deloitte to pay $300m settlement
[16:55 CEST 12-08] GLOBAL – US car manufacturer General Motors Corp and its auditor Deloitte & Touche have agreed to pay institutional investors, including pension funds, $303m (€202m) as settlement to a securities class action suit.
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Corporates 'overpay' nervous trustees
[17:00 CEST 12-08] UK – "Nervous" corporate pension scheme trustees and actuaries should not demand more cash injections from their corporate sponsor amid the market turmoil as companies are already pay too much, according to KPMG.
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Revalued property drags ING figures down
[15:15 CEST 13-08] NETHERLANDS - A revaluation of its Summit portfolio in Canada was the main contributor to an €180m after-tax loss for ING’s property investments in the second quarter of this year, the Dutch bancassurer has revealed.
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Wednesday people roundup
[15:45 CEST 13-08] GLOBAL - People roundup: Russell, Baring, Mercer, Schroders, LCP, Sacker & Partners, Royal London, Hewitt, Hermes, Xafinity Claybrook.
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News
Ethos warms to 'positive' UBS moves, but S&P is hesitant
[16:15 CEST 13-08] SWITZERLAND – The Swiss Ethosfund has welcomed new appointments to the UBS board but ratings agency S&P is still questioning whether the Swiss-based firm can improve its position in the short-term.
