All IPE articles in August 2008 (Online) – Page 7
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NewsIrish 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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News£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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NewsPassive 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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NewsFTSE 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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NewsWednesday 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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NewsABP 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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NewsWelsh fund taps Newton for global equities
[16:40 CEST 05-08] UK – Rhondda Cynon Taff County Council has awarded Newton Investment Management a £221m (€278m) active global equity mandate.
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NewsBPF Schilders sticks with underperforming managers (amended)
[16:20 CEST 05-08] NETHERLANDS - The €3.5bn pension fund for the painting, finishing and glazing sector said last year’s disappointing performances of external managers will not automatically lead to the termination of contracts.
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NewsNorthern Rock pension talks reach impasse
[16:10 CEST 05-08] UK – Sir David Chapman, chairman of the trustees of the £350m (€441m) Northern Rock final salary scheme, has announced talks with the company have come to a halt over “fundamental differences” on investment strategy.
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NewsL&G buyout business hits £1.4bn in six months
[16:00 CEST 05-08] UK – Legal & General has completed pension buyout business valued at £1.4bn (€1.8bn) in the first half of 2008 compared to £382m for the same period in 2007.
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NewsTrustees classed as money laundering 'low risk'
[15:50 CEST 05-08] UK – Professional trustees may avoid having to register as a Trust or Company Service Provider under new money laundering regulations, as occupational pension schemes have been classified as “low risk”.
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NewsBöhm joins consultancy network
[15:35 CEST 05-08] GERMANY/GLOBAL – German consultancy Böhm – soon to become Funk Böhm Consultants – has joined Abelica Global, formerly known as Milliman Global, one of the largest networks of actuaries and consultants worldwide.
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NewsGovernment take £419m from miners' pension schemes
[16:50 CEST 04-08] UK – The Department for Business, Enterprise and Regulatory Reform (BERR) has confirmed it withdrew more than £400m (€500m) from two closed miners’ pension funds in 2007.
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NewsPPF tenders £100m global equity portfolio
[16:35 CEST 04-08] UK – The Pension Protection Fund (PPF) is seeking a new global equities manager to run a portfolio expected to reach £100m (€126m) in the first year of the contract.
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NewsOECD releases new governance guidelines
[16:30 CEST 04-08] GLOBAL – The Organisation for Economic Co-operation and Development (OECD) has released its new pension fund governance guidelines for public comment.
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NewsPension funds 'to trigger corporate CEE bonds'
[15:30 CEST 04-08] CEE – The growth of funded second pillar systems in Central and Eastern Europe will lead to more and more corporates in the region issuing bonds, analysts from the Austrian Erste Bank group have predicted.
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NewsF&C’s Peter Hans Budde dies
[15:15 CEST 04-08] NETHERLANDS – Peter Hans Budde, the country head of F&C’s Dutch office in Amsterdam, has died at the age of 51.
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NewsCost of fraud triples for Philips fund
[15:00 CEST 04-08] NETHERLANDS – The €13.4bn Dutch pension fund of electronics major Philips has executed several sequestrations in relation to its involvement in the recent property fraud, now estimated to have cost the fund €150m.
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NewsFortis sees outflows as shareholders rally
[14:30 CEST 04-08] EUROPE – Fortis today admitted it had a tough first half and pledged to conduct more dialogue with shareholders, following €2.5bn outflows and lower equity markets impacting negatively on assets under management.
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NewsDeficits near 2007 levels as schemes wise up
[16:50 CEST 01-08] UK – Deficits of the 200 largest UK final salary schemes improved by £8bn (€10bn) during July, as pension funds increased and adopted more sophisticated investment activity during the second quarter of this year, suggests research from Aon Consulting.
