All IPE articles in August 2019 (online) – Page 2
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Cypriot pension chief raises concerns over €20m state investment fund
Cyprus Hotel Employees Provident Fund CEO Marinos Gialeli says minority shareholders must be protected in planned investment vehicle
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SEC highlights proxy voting rules, guidance amid ESG debate
SEC provides guidance to fund managers about proxy voting responsibilities and to proxy advisory firms about anti-fraud rules
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University staff warn of fresh strike action over contributions [updated]
Employers welcome proposal from USS’ Joint Negotiating Committee but union rejects higher costs for scheme members
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Alecta chief urges positive reforms as corporate governance overhaul looms
Magnus Billing hopes the Swedish Corporate Governance Board will take inspiration from the UK’s FRC after it updated its code of practice last year
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One fifth of UK schemes in ‘weak’ position by TPR standards
Hymans Robertson analysis finds just 11% of schemes have a “strong” sponsor covenant, while one in five trustees has or expects to experience regulatory intervention
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Disabled workers’ scheme switches to ‘cheaper’ passive strategy
The €8.5bn PWRI is also aiming to expand its responsible investing strategy and has added to allocations to green bonds and its ‘inclusion portfolio’
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Swedish funds name new leaders for property and infrastructure arms
Property company Vasakronan, infrastructure group Polhem and residential real estate manager Rikshem have all made senior management appointments in recent days
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People moves: AP3’s COO exits; Mercer names Swiss retirement chief [updated]
AP3, ACCESS, Mercer, PensionDanmark, Öhman Fonder, Unified Investors, HSBC GAM, PBU, PKA, SVB, Green Finance Institute, Insticube, Aon, IC Select, Lincoln Pensions
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Intergenerational fairness under pressure in Dutch system, survey finds
The principle of solidarity between pension fund participants – one of the key elements of the Dutch pensions system – is under pressure, according to Netspar
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Norway’s SWF holds €60bn of negative-yielding bonds
Fixed income netted the NOK9.4trn fund 3.1% in the second quarter of 2019, but a quarter of its allocation now yields less than 0%
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London pension schemes abandon Allianz equity fund [updated]
Three LGPS funds within the London CIV asset pool have pulled their money out of an Allianz global equity vehicle
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Asset manager body hails engagement effect on CEO pay
Analysis on FTSE 100 pay from the High Pay Centre and CIPD shows median CEO remuneration fell 13% to £3.5m from 2017 to 2018
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€19bn agriculture sector scheme eyes property investments
BPL’s real estate holdings generated 17.8% last year, according to its annual report – and it wants to put more money into the asset class
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Estonia set to overhaul €4.4bn second-pillar system
Coalition government’s decision follows similar moves in Poland and Romania to scale back second-pillar coverage
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Netherlands roundup: Longevity gap increases
Plus: Achmea Pensioenservices posts €14m loss in the first half of 2019 as it continues to phase out old IT systems
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US Business Roundtable: A victory for the good guys?
Joseph Mariathasan explores the implications of an influential US business group’s new stance on the purpose of a corporation
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‘Huge’ variations in outcomes between default DC funds: report
Employers have been urged to monitor the performance of their pension plans more closely given big differences between fund outcomes
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Danish pension funds ban aggressive tax planning by external managers
ATP, Industriens, PensionDanmark and PFA have taken up a common stance on tax for assets run by third-parties in the wake of an international withholding tax scandal
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UK think tank calls for state pension age increase to 75
The Centre for Social Justice has proposed a range of policy reforms to promote flexible working and retirement for older workers
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High Court blocks £12bn Prudential-Rothesay annuities transfer
Unusual judgement could increase insurer appetite for pension buy-ins or buyouts, says expert