All IPE articles in August 2009 (Online) – Page 4
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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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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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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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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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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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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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Norway-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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P-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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Czech 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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EFRP 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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Lincolnshire seeks global equity manager after strategy review
[16:40 CEST 17-08] UK – Lincolnshire County Council has initiated a tender search for one or more managers to run a £200m (€231.9m) global equity portfolio for its local government pension scheme, following a review of its asset allocation strategy.
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Positive gain for Varma ups assets by €2bn
[16:50 CEST 17-08] FINLAND – Varma Mutual Pension Insurance Company reported a first half return of 4.6%, resulting in the value of the investments increasing by almost €2bn to €26.5bn.
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DC pensions eyed as recruitment tool – Watson Wyatt
[15:30 CEST 18-08] UK – Many employers reviewing their existing defined benefit pension arrangements are looking to provide defined contribution plans which make their retirement benefits competitive with rivals, according to consulting firm Watson Wyatt.
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CERN pension fund sees personnel changes
[16:00 CEST 18-08] SWITZERLAND – The pension fund for the Council of European Nuclear Research (CERN) workers is finalising changes to its trustee management and staffing arrangements, as Richard Balfe is now a director of the fund, and a new manager is joining to head up the plan team.
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Basic diversification rules still hold true – Austrian PKs
[16:35 CEST 18-08] AUSTRIA – All three heads of the largest Austrian Pensionskassen believe the financial crisis should not fundamentally change their funds’ assumptions on asset allocation.
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Swiss pension figures brighten funding picture
[16:40 CEST 18-08] SWITZERLAND – Figures released by the supervisory authorities of the cantons of Solothurn, Basel-Land and Basel-City suggest only 32% of local pensionskassen are underfunded.
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Northants tenders global equities and bonds
[16:45 CEST 18-08] UK – Northamptonshire County Council is tendering two new investment mandates for global equities and bonds, following a review of its £866m (€1.01bn) pension fund's investment strategy.
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Capita collects new admin contract
[16:55 CEST 18-08] UK – The South Wales Police force has appointed Capita Hartshead to take care of the pensions administration for 6,200 members of the Heddlu de Cymru Pension Scheme.
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Wednesday people roundup
[14:00 CEST 19-08] GLOBAL - Pension Capital Strategies, Hymans Robertson, PricewaterhouseCoopers, Finansinspektionen, Hermes, Mirae Asset Global Investments, Brookfield, Fortis, Standard Life, NIBC, Cheyne Capital
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Levensloop deposits fall 7% (updated)
[16:00 CEST 19-08] NETHERLANDS - Dutch workers paid 7% less into their tax-friendly ‘levensloop’ or life course saving plans in 2008, latest figures reveal.
