All IPE articles in August 2008 (Online) – Page 5
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Failure scores are no measure to go by - Aon
[13:30 CEST 14-08] UK – Trustees should not let improving insolvency measures lead them into a false sense of security, as worsening economic conditions are still increasing the likelihood of insolvency, Aon Consulting warned today.
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UK regulator fines Credit Suisse over 'rogue traders'
[17:00 CEST 13-08] UK – Credit Suisse has been hit with a £5.6m (€7m) fine from the UK’s Financial Services Authority for failing to keep an eye on activity inside its business which led to the “mis-marking and mis-pricing” of some of its asset-backed securities.
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Swedish financial system faces 'significant challenges'
[16:50 CEST 13-08] SWEDEN - The Finansinpektionen (FI) has warned while the Swedish financial system has "fared well" in the current market environment, there is "no guarantee" the firms it supervises will not suffer difficulties.
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PPF enhances its own ESG strategy
[16:45 CEST 13-08] UK – The Pension Protection Fund (PPF) has appointed F&C Investments to offer advice on responsible investment and provide voting and engagement services.
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US giant huddles up to London
[16:35 CEST 13-08] UK – Mark Wood, managing director of US pension fund giant TIAA-CREF’s global real estate business, has revealed the newly-launched London office is an attempt to “make sure we are as close to the market as we can be.”
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Operational change at €5.9bn German church fund
GERMANY – The €5.9bn German pension fund for church employees in Rhineland and Westphalia has announced it will restructure its investment operations, while pushing for more alternatives and diversity through indirect real estate.
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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.
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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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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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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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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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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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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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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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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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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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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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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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£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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'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.
