All IPE articles in August 2008 (Online) – Page 7
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News
Dutch schemes are 'weathering the storm'
[16:50 CEST 26-08] NETHERLANDS - Dutch pension funds have survived the market turbulence well so far and should be capable of withstanding further financial blows without jeopardising their financial commitments, Social Affairs minister Piet Hein Donner has suggested.
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Norway Global loses €4.9bn in Q2
[16:55 CEST 26-08] NORWAY – The Norwegian Government Pension Fund – Global reported a return on investments of -1.9% in the second quarter of 2008, reducing the value of the fund by NOK39bn (€4.9bn).
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Proposed accounting rules to relieve Dutch companies
[15:00 CEST 27-08] NETHERLANDS - The Dutch Accounting Standards Board (RJ) has issued new guidance, which it is hoped will slow the trend of companies changing their pension arrangements into defined contribution plans.
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Wednesday people roundup
[15:30 CEST 27-08] GLOBAL – People roundup: State Street, Hermes, HSBC Actuaries & Consultants, MetLife, Sinopia AM, Alexander Forbes Trustee Services. F&C, New Star International, Barrie & Hibbert
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Finnish state fund drops 6.4%
[16:10 CEST 27-08] FINLAND - Valtion Eläkerahasto (VER), the Finnish state pension fund, posted a first half return of -6.4%, driven by a 17% loss on equity investments while Etera Mutual Pension Insurance Company lost €460m.
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News
ATP investment returns drop as charges rise 20%
[16:45 CEST 27-08] DENMARK- ATP Group, Denmark’s largest pension fund provider, has revealed investment returns substantially reversed in the first half of this year at the same time as it is raising costs to its members.
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One in eight Europeans to reach age 80
[17:00 CEST 27-08] EUROPE – The number of people living to the age of 80 or more will almost triple by 2060, and almost one-third of the population will be over 65, the European Commission is predicting.
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Norway SWF may 'earmark' funds for clean energy
[17:05 CEST 27-08] NORWAY – The Norwegian government has hinted the country's sovereign wealth fund (SWF) could divert assets into a separate fund to invest in clean energy and environmental funds.
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Icelandic pension assets hit €14bn
[17:10 CEST 27-08] ICELAND – The total value of Icelandic pension assets rose by 7% in real terms to ISK1.7trn (€14bn) in 2007, the Financial Supervisory Authority (FME) has revealed.
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News
Henderson CEO quits as firm moves to Ireland
[12:45 CEST 28-08] UK – Roger Yates is stepping down as chief executive of Henderson Group and managing director of Henderson in November, after nine years in charge.
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News
Crédit Agricole suffers in tough conditions
[13:45 CEST 28-08] FRANCE – Crédit Agricole Group confirmed it is shaking up its Calyon operation on the back of announcing writedowns related to bond protection while its investment management division saw its assets under management fall by over €7bn in the first half of this year.
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News
NPRF awards €600m emerging market mandate
[14:00 CEST 28-08] IRELAND – The National Treasury Management Agency (NTMA) has appointed three managers to run emerging market mandates for the National Pension Reserve Fund (NPRF).
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PPF's CEO to step down
[13:15 CEST 28-08] UK – Partha Dasgupta, chief executive of the UK's Pension Protection Fund (PPF) has announced he will step down from the role in June 2009 in search of fresh challenges.
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News
AP1 to increase equities despite 8% loss
[15:30 CEST 28-08] SWEDEN - Första AP-fonden (AP1), the first Swedish national pension fund, intends to increase its equity exposure, despite a drop in assets of SEK17bn (€1.8bn) in the first half of 2008 and a total investment return of -8%.
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News
KAS Bank’s custody income hit by markets
[15:45 CEST 28-08] NETHERLANDS - KAS Bank saw its income from custody and investment management services decrease by 14% to €14m in the first six months of 2008, mainly because lower market prices forced a drop in value of assets under custody.
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News
ABP extends microfinance commitments
[16:00 CEST 28-08] NETHERLANDS – ABP, Europe’s second-largest pension fund by value, has stepped up its position in microfinance investing, and asked Swiss asset manager BlueOrchard to manage a further €50m.
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News
Eureko says yet to resolve PZU dispute
POLAND – Eureko officials have revealed its long-running dispute with the Polish government on the acquisition of shares in state-owned insurer PZU has yet to be resolved, despite previously stating it aimed to agree a deal by June.
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News
'Sophisticated' Dutch funds lead LDI pack
[17:00 CEST 28-08] NETHERLANDS – Dutch pension fund strategies have been described as being the most advanced among their developed country peers, as a study of executives suggests the majority have adopted liability-driven investment (LDI) strategies alongside the broadest range of products.
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News
PNO dips below cover ratio despite commodities growth
[14:00 CEST 29-08] NETHERLANDS – The €2.8bn pension fund PNO Media saw spectacular returns of 41.4% on its investment in commodities in the first half of this year, but it was not enough to prevent the fund from falling below the minimum required cover ratio.
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News
Market capacity no issue for buyouts
[15:45 CEST 29-08] UK – The pensions buyout market is more likely to be constrained by "unattractive prices" than by market capacity, according to Punter Southall Transaction Services (PSTS).
