All IPE articles in August 2009 (Online) – Page 7
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NewsNorway domestic pension returned 12.8%
[16:45 CEST 27-08] NORWAY – The Government Pension Fund – Norway achieved an investment return of 12.8%, or NOK11bn, in the first half of 2009 as the total value of its investment assets reached NOK98.9bn (€11.4bn).
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Barnet considers search for custodian
[16:50 CEST 27-08] UK – The London Borough of Barnet is preparing to tender for global custodian services for its £481m (€546m) pension scheme for the first time.
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Nottingham considers pension merger
[16:55 CEST 27-08] UK – Nottinghamshire County Council is considering a potential merger of its two Local Government Pension Scheme (LGPS) funds, ahead of the next triennial valuation in 2010.
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NewsAdvisers to support trustees in search for fiduciary manager
[17:00 CEST 27-08] UK – Four firms which assist pension trustees in the procurement of asset management and consultancy services are expanding their duties to assist trustee boards in their search for fiduciary managers.
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NewsDiageo uses escrow funds to plug pensions deficit
[16:00 CEST 28-08] UK – Diageo, the drinks giant, is transferring money set aside in an escrow account into its closed defined benefit pension fund, in a bid to improve the scheme’s deficit.
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NewsNorway's giant pension funds get new CIO
[16:20 CEST 28-08] NORWAY - Norges Bank Investment Management (NBIM) has appointed an internal candidate to take on the role of chief investment officer, and given Bengt Enge the job of overseeing the company's investment management and that of the giant Norwegian pension funds.
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NewsGerman governance reforms were not good enough - Hermes
[16:50 CEST 28-08] EUROPE – Hermes Fund Managers has sent an open letter to German government officials and companies listed on the Dax and Mdax stock exchanges, calling for reforms to recent legislation which was designed to strengthen corporate governance and “the appropriateness of management board remuneration”.
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NewsAP3 rises 5.2% but warns system rebalancing takes time
[16:55 CESt 28-08] SWEDEN – Tredje AP-fonden (AP3), one of the four buffer funds, reported a net first half return of 5.2%, but warned the pension system's balancing mechanism will still be activated in 2010 meaning pension benefits and entitlements will not be indexed in line with wage growth.
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NewsVER returns 5.3% on equity gains
[17:00 CEST 28-08] FINLAND – Improvements in equity markets helped Valtion Eläkerahasto (VER), the State Pension Fund, post a return of 5.3% in the first half of 2009.
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NewsKensington, Enfield and Falkirk seek managers
[17:00 CEST 28-08] UK – Three local authorities are tendering investment manager roles for their pension funds to cover UK property, active global equities and a passive portfolio.
