All articles by Barbara Ottawa – Page 109
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Liechtenstein wants to join IOPS
LIECHTENSTEIN – The Financial Market Authority in Liechtenstein wants to become part of the International Organisation of Pension Supervisors (IOPS).
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Greece bows to ILO pressure over bank benefits
GREECE – The Greek government has invited union leaders to a meeting on the issue of 13 dissolved supplementary pension schemes of Greek banks following a reprimand from the International Labour Organisation (ILO).
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IPE-QUEST: Dutch fund in EM bond search
NETHERLANDS – A Dutch institutional investor is seeking a local emerging markets bond manager for a $100m (€73m) active mandate using IPE-QUEST (QN802).
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Merseyside seeking all-in-one accounting system
UK – The £4bn (€6bn) Merseyside pension fund is looking to find an integrated accounting system which combines keeping track of the pension contributions inflow as well as the fund's investments.
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Hewitt hires LDI expert from Aon
UK – Caroline Allensby-Green will join Hewitt after 10 years at rival Aon Consulting.
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Equities boost for Siemens’ pension funds
EUROPE – Siemens, the German industrial giant undergoing management upheaval, has seen the deficit in its principal pension plans reduced to €2.9bn to €1.7bn over the last year due to strong equity markets.
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New fund of hedge fund launches with $500m
EUROPE – New fund of hedge fund management group SilverStreet Capital has launched with a mandate of over $500m.
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North Yorkshire chooses Mercer
UK – The £1.2bn (€1.8bn) North Yorkshire County Council pension fund has chosen Mercer as investment consultant.
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CAAM receives early interest in volatility
EUROPE – A large Dutch pension fund has registered interest in Crédit Agricole Asset Management's (CAAM) exploitation of volatility as a hedge against equity market corrections.
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Staffordshire seeks independent advisor
UK – The £2bn (€3bn) Staffordshire County Council is seeking an independent investment advisor to strengthen performance monitoring of managers.
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Swedbank grows AUM by €18.5bn
SWEDEN – Swedbank and Folksam have agreed to join their asset management business under the Swedbank trademark which will see SEK170bn (€18.5bn) in pension assets flow to Sweden's largest bank.
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UK: GAD’s Young reviews pension compensation
UK – The government has named Andrew Young, directing actuary at the Government Actuary's Department, as head of the review of compensation for people in bankrupt pension schemes.
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IBM names UK pension trustee board director
UK – Jonathan Ferrar is taking over from David Heath as director of the pension trustee board at computer colossus IBM’s £4.4bn (€6.5bn) UK pension fund.
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Schroders names new chief financial officer
UK – Asset management firm Schroders has promoted Stephen Brooks to replace Jonathan Asquith as chief financial officer.
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Greeks to strike over bond scandal
GREECE – The largest union in Greece has called a nationwide strike on May 15 in response to government handling of dubious bond purchases by pension funds.
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Allianz creates pension fund for care personnel
GERMANY – The Allianz Pensionskasse and clinic group Marseille-Kliniken have established a pension fund for the care profession.
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€221bn Norwegian fund keeps on gambling
NORWAY – The NOK1.8trn (€221bn) Norwegian government pension fund has come under fire again for its investments – this time over gambling.
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First pension appointment to UKSIF board
UK – Meagan Thompson, corporate governance counsel at Railpen Investments, has become the first pension scheme professional to join the board of UK Social Investment Forum (UKSIF).
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Hermes criticises VW but won't stop Piech
GERMANY – At the annual general meeting of car company Volkswagen (VW), shareholders, including UK’s fund manager Hermes, criticised the firm’s corporate governance.
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PME to put €400m into life settlements
NETHERLANDS – PME, the €20.5bn fund for Dutch metalworkers, is to put up to €400m – or 2% of its total assets – into the emerging asset class of securitised life insurance policies or life settlements.
