All IPE articles in August 2009 (Online) – Page 4
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NewsEFRP gives web presence a facelift
[16:30 CEST 17-08] EUROPE - The European Federation for Retirement Provision (EFRP) has revamped its website, in a bid to offer visitors "better information and an enhanced surfing experience".
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NewsCzech funds see fresh growth in 2009
CZECH REPUBLIC – The 10 pension funds of the Czech third pillar returned an average of 3.1% in the first half of 2009.
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NewsP-Solve retained as Hammersmith & Fulham adviser
[16:10 CEST 17-08] UK - The London Borough of Hammersmith & Fulham Superannuation Fund has rehired P-Solve as investment consultant, following a tender process in which four other companies were invited to participate.
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NewsNorway-Global to drill water management
[16:00 CEST 17-08] NORWAY – A revised strategy for active ownership has been adopted by the Executive Board of Norges Bank for the Norway Government Pension Fund – Global, to include a new focus area on water management.
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Hillingdon seeks equity manager, shows Capital the door
UK – The London Borough of Hillingdon Pension Fund has launched a tender for an investment manager to replace Capital International, which ran the active overseas equities segment of its portfolio, worth in total around €455.3m, until the end of June.
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Merger to create new fund for Swiss canton Valais
SWITZERLAND – The Swiss canton of Valais is finalising a merger between its two public pension funds, to increase the funding level and eventually change from a DB to a DC scheme.
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Crisis might speed up Bulgarian reform – CFO interview
BULGARIA – The financial crisis could boost plans to introduce a life-cycle model to the Bulgarian pension system, Miroslav Marinov, CFO of the pension fund management company Doverie, has told IPE.
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Finnish fund looking for high-yield manager
IPE-QUEST – A public pension fund based in Finland is looking for a high yield debt manager in the latest search to be placed through IPE-Quest.
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IPE-Quest launches revamped website
EUROPE – IPE’s web-based manager search facility IPE-Quest has a new look site enabling pension funds and other investor users to navigate the site more easily and to review the features of the service.
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Interest hedge limits Stork scheme loss
NETHERLANDS – The €2.1bn pension fund of the industrial conglomerate Stork managed to limit its losses to 13% in 2008, largely thanks to a strategic 70% interest rate hedge on its liabilities.
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No outbreak of greed at financial firms - study
GLOBAL – Governance at financial firms has not been significantly worse than at other companies, and the executive directors of banks were not over-paid, according to the first empirical study of pay and governance since the financial crisis.
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Prudential M&G, GSAM win UK absolute return bond brief (amended)
UK – Norfolk County Council Pension Fund has awarded contracts to Prudential M&G and Goldman Sachs Asset Management (GSAM) to run active absolute return bond portfolios.
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Market disruption over the worst - European credit investors
EUROPE - Most senior credit investors in Europe now believe the markets are past the worst of their disruption, according to Fitch Ratings.
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Czech Allianz fund grows assets to €283m
CZECH REPUBLIC – The Czech third pillar fund of Allianz posted an increase in members, assets under management and profit for the first half of 2009.
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Top UK companies now spend more on past promises
UK – For the first time ever, FTSE100 companies will spend more on past employee pension promises than those to current staff, according to the annual KPMG Pensions Repayment Monitor Survey.
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Basel fund proposes contribution hike for 19 years
SWITZERLAND – The government of the Swiss canton of Basel City has refined recovery plans for the civil servants fund PKBS, which will include a one-off payment of CHF 1.12bn (€730m).
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Wednesday people roundup
Hermes Fund Managers, Sparinvest, Muzinich, Bank of London and the Middle East and Hymans Robertson
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Danica Pension reports strong first-half returns
DENMARK - Danica Pension has announced strong returns for the first half of 2009, boosted by its holdings of high quality credit and mortgage bonds.
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BNY Mellon AM increases UK institutional business through Insight purchase
UK – The Bank of New York Mellon is boosting its UK institutional LDI and fixed income business by £75bn through the purchase of Insight Investment Management from Lloyds Banking Group.
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ING in insurance rethink
EUROPE - ING is to integrate its Dutch insurance activities under the Nationale Nederlanden brand, and will create a single insurance operation in the rest of Europe, including Central Europe.
