All IPE articles in August 2008 (Online) – Page 6
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News
Cluster bombs force ethical change at Danica
[12:30 CEST 21-08] DENMARK – Danica Pension, the DKK241bn (€32.3bn) pensions arm of Danske Bank, is planning to roll out a new ethical investment policy from the end of next month, IPE has learnt.
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Robeco Corestone combo wins first mandate
[13:00 CEST 21-08] NETHERLANDS – The €90m Dutch corporate pension fund of GITP International has tapped Dutch financial group Robeco and its Swiss arm Corestone as its new fiduciary manager, IPE has learnt.
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News
Eläke-Fennia reports first half fall
[13:30 CEST 21-08] FINLAND – The €5.8bn Eläke-Fennia Mutual Insurance Company saw the value of its investments reduce by €285.2m in the first half of 2008 as it reported a net negative investment return of -4.6%.
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News
Optimum allocation for civil servants’ pensions revealed
[15:15 CEST 21-08] GERMANY – A study into civil servant pension funds for German provinces has found the ideal asset allocation is 22% equities, 47% bonds and 30% real estate.
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News
Albania's second pillar is as good as ready
[15:30 CEST 21-08] ALBANIA – There is a political consensus in Albania from its two major parties to introduce a mandatory second pillar pension – but experts say it will have to wait until after the elections in autumn 2009.
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Cambridgeshire signs CAAM to equity portfolio
[16:00 CEST 21-08] UK – Cambridgeshire County Council has edged one step closed to completing the reallocation of its pension fund’s equity portfolio and appointed Crédit Agricole Asset Management (CAAM) to manage a £160m European equities mandate.
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Court 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.
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Brick 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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News
German 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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News
Allianz 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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News
Rentokil 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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News
Swedish 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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News
Finnish 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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News
Veritas 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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Pension 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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News
Danish 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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News
Sainsbury’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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News
Romanian 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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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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News
Norfolk 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.
