All IPE articles in August 2009 (Online) – Page 6
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News
AP2 generates 6.4% gain
[16:10 CEST 24-08] SWEDEN – Andra AP-fonden (AP2), the Second Swedish National Pension Fund, has managed to undo some of the losses from last year as active in-house management of certain investments helped generated a first half return of 6.4% on its portfolio.
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News
FRR enjoys recovery ahead of allocation shift
[16:30 CEST 24-08] FRANCE – Fonds de Reserves pour les Retraites (FRR), the French national pension fund, managed to claw back some of the losses it suffered on investments last year, ahead of changes to its strategic asset allocation.
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News
Dutch pension fund begins quest for bonds
[16:40 CEST 24-08] IPE-QUEST – A Netherlands-based corporate pension fund is looking to hire a suitable eurozone corporate bond manager to look after a €35m ($50m) investment, and is conducting the search using IPE-Quest.
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NewsConsultants see IAS19 'sticking plaster' as important first step
[15:30 CEST 25-08] GLOBAL - Pensions and investments consultants have expressed general support towards a what is described as a "sticking plaster" move by the International Accounting Standards Board (IASB), allowing companies to discount defined benefit post-retirement obligations against a government bond rate where they cannot comply with existing rules.
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NewsConsultant calls for longer Belgian recovery time
BELGIUM – A Belgian pensions consultant has warned local pension plans need more time to meet funding recovery plans, as the industry-standard short time frames are placing undue pressure on executives and company sponsors to meet full funding targets.
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NewsPensionskasse begets pensionskasse
[15:20 CEST 25-08] SWITZERLAND – The Swiss multi-employer pensionskasse Publica has been granted the right to set up a pension fund for its own staff.
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NewsEquities bring AP4 a strong first-half return
[16:30 CEST 25-08] SWEDEN – Fjärde AP-fonden (AP4) the Fourth Swedish National Pension Fund, reported a gross first-half return of 7.9% as its 60% allocation to equities benefited from the recent stock market improvements.
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NewsAP2 seeks global credit managers
[16:35 CEST 25-08] SWEDEN – Andra AP-fonden (AP2), the Second Swedish National Pension Fund, is seeking external global credit bond managers for mandates valued at up to $600m (€418m).
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NewsCumbrian pensions funding drops to 56%
[16:45 CEST 25-08] UK – The Cumbria County Council pension fund had a 56% funding level at the end of March 2009, according to figures from the council's statement of accounts.
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NewsWednesday people roundup
[13:30 CEST 26-08] GLOBAL – Barclays UK Pension Fund, Newcape Capital Group, Northern Trust. Aviva Investors, Newton Investment Management, LVAM, Mercer, LaSalle IM, SEB, WL Ross & Co
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NewsEureko-PZU edge closer to settlement
POLAND – The deadline set for a settlement in the Eureko-PZU conflict will be up in a month, but negotiating parties say they are optimistic about finally reaching an agreement over Eureko's disputed shareholding in the Polish firm.
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News
Roelandt returns as Samco CIO
[16:00 CEST 26-08] GLOBAL - Samco, the asset manager of pension funds for energy giant Shell, has appointed Piet Roelandt as chief investment officer.
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News
Dutch retirement age should be 68 - economist
[16:50 CEST 26-08] NETHERLANDS - An economist has claimed the official retirement age for the state pension AOW should be raised beyond the government’s proposed retirement age of 67 and by an extra year to 68, to meet growing life expectancy in the Netherlands.
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NewsUSS prepares to build FoHFs
[17:10 CEST 26-08] UK – The Universities Superannuation Scheme, the UK’s second-largest defined benefit pension plan, has started work on the creation of an in-house fund of hedge funds.
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News
Ulster and RBS salary cap plans ignite unions
[17:15 CEST 26-08] UK – Planned changes by Ulster Bank and its parent company Royal Bank of Scotland to its defined benefit (DB) schemes, such as capping pensionable salary at 2% or the rate of inflation have met with resistance from trade unions.
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News
Oil returns drive ATP's DKK3.3bn profit
[17:20 CEST 26-08] DENMARK – ATP Group has reported a first-half profit of DKK3.3bn (€443m) as its investment portfolio achieved a market return of 3%, or DKK11bn gross, thanks to positive returns in four of its five investment risk classes.
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NewsAP1 changes yield 6.7% return
[17:25 CEST 26-08] SWEDEN - Första AP-fonden (AP1), the First Swedish National Pension Fund, has reported a net first-half return of 6.7%, following the implementation of a new investment model.
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News
Pensions-to-GDP ratio dropped in 2008
[15:00 CEST 27-08] GLOBAL - The recent turmoil of the financial markets led to a a 12 percentage point (pp) drop in 2008 in the asset-to-GDP ratio in OECD countries.
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NewsIcelandic pensions gain from market pressures
[16:30 CEST 27-08 ICELAND – Icelandic pension funds have inadvertently enjoyed benefits from the recent financial turbulence as earlier moves by the government to force the sale of overseas assets have not been enforced, the sector has instead been given access to wider investment opportunities.
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NewsASIP calculates 3.4% Swiss return
[16:40 CEST 27-08] SWITZERLAND – Swiss pension funds returned 3.4% for the first half of 2009, according to calculations made by Watson Wyatt for the Swiss pension fund association ASIP.
