All IPE articles in August 2009 (Online) – Page 2
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News
Sticking to strategic allocations caused problems - IQAM
[16:00 CEST 05-08] AUSTRIA – Austrian pension funds should not have stuck to strategic asset allocations as widely used risk controls could not have worked last year, accordng to Helmuth Frey, head of quantitative management house IQAM.
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Pensions risk could lead to use of 'EBITDAP' - LCP
[16:50 CEST 05-08] UK – Pensions consultancy firm Lane, Clark & Peacock has predicted companies might in future adapt their accounting reports to carry financial results which list pensions activity as an extension of their ‘EBITDA’ calculations.
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TPR to use direct marketing for employer compliance
[15:30 CEST 06-08] UK – The Pensions Regulator (TPR) has signalled its intention to use direct marketing services as an initial step to inform employers and their advisers of their duties, under the new auto-enrolment requirements beginning in 2012.
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Railpen expands its long-short strategy
[16:00 CEST 06-08] UK - Railpen Investments, the in-house investment manager for the £15bn (€17.7bn) industry-wide pension fund for British railway workers, has invested £65m in a fund of long-short equity hedge fund with Goodhart Partners.
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Aviva to float Delta Lloyd
[16:10 CEST 06-08] GLOBAL – Aviva is planning to float some its holding in Delta Lloyd, the Netherlands-headquartered life insurance operation, in a bid to give the firm more capital and ahead of what officials claim will be consolidation in the Netherlands.
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Operational issues are essential to pensions - IPE survey
[16:20 CEST 06-08] EUROPE - Operational robustness is integral to investment ability and should not be seen as a separate issue, according to half of all pension funds who responded to an IPE survey on securities lending.
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Partners Group wins Bucks alternatives mandate
[16:30 CEST 06-08] UK – Buckinghamshire County Council has awarded an alternative assets mandate to Partners Group on behalf of its £1bn (€1.17bn) local government pension scheme.
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Irish funds rose 6% in July
[16:40 CEST 06-08] IRELAND – Irish managed funds reported a positive performance for the fifth month in a row, after they returned of 6% in July.
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Czechs given open pensions choice
CZECH REPUBLIC – Employees in the Czech Republic are being given more free choice over their pension provider in the latest reforms, but switching pension funds will be no longer free for all.
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Keva posts 6.5% return in H1
[16:55 CEST 06-08] FINLAND - Kuntien eläkevakuutus (Keva), the local government pension institution, generated a return on its investments of 6.5% in the first half of 2009 following a continued rally from equity markets.
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Fund managers return to client priorities - Investit
[12:30 CEST 07-08] GLOBAL – The recent economic crisis has forced asset managers to rethink their priorities away from sales and product development in favour of risk transparency and client information delivery, suggests a study conducted by Investit.
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IMF warns Swiss guarantee is at risk
[13:30 CEST 07-08] SWITZERLAND – The International Monetary Fund (IMF) doubts Swiss life insurances have enough buffers to continue guaranteeing a 4% annual interest rate on pension funds.
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SocGen asset head resigns on insider trading probe
[16:00 CEST 07-08] FRANCE – Jean-Pierre Mustier, the current head of asset management and investment banking at Société Générale, has agreed to step down from his role by the end of the year after the Financial Markets Authority (AMF) named him in an insider trading probe.
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News
ITV could have cut pensions deficit by £100m
[16:15 CEST 07-08] UK – ITV's pensions deficit had increased to £538m (€631m) on an IAS19 basis by the end of June. But the company has claimed this deficit could have been reduced by up to £100m if its proposals had been in place to cap pensionable salary increases to ...
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Dutch premiums may need to rise by a third – study
[16:30 CEST 07-08] NETHERLANDS – Current pension contribution levels may have to rise by an average of one-third by 2014, if pension funds are to recover their funding ratio to the required minimum of 105%, suggests research.
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Physios scheme scales down unconditional indexation
[16:45 CEST 07-08] NETHERLANDS - The €1.6bn pension fund for physiotherapists (SPF) has decided to lower its 2.5% fixed indexation payment, as the scheme had a cover ratio of 94% by the end of last year and a return of –14%.
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BT assets covered 57% of benefits in 2008
[16:10 CEST 10-08] UK – BT Pension Scheme, the £31.3bn pension fund of the telecoms giant, would have had enough assets to cover 57% of members’ benefits with an insurance company by the end of 2008 had its sponsor collapsed, the latest annual report has revealed.
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Romania sees fresh growth in 2009
ROMANIA – Second pillar funds in the Romanian pensions market performed a fraction better in the first seven months of this year than third pillar funds, according to the latest figures from the Romanian Pension Funds’ Association (APAPR).
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SSGA sees Schock exit
[16:50 CEST 10-08] BELGIUM – Jean-Francois Schock has left his role as managing director for Europe at State Street Global Advisers and opened a consultancy practice in Brussels to work on the development of new investment products.
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German corporate investigates covered paper
[17:00 CEST 10-08] IPE QUEST – A German corporate pension fund is looking to invest $50m (€35m) in euro-denominated covered bonds, and is conducting the search through IPE-Quest.
