All articles by Barbara Ottawa – Page 123
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News
Enfield tenders £15m infrastructure mandate
UK – The London Borough of Enfield is tendering a £15m (€22m) infrastructure mandate for its £500m pension fund.
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News
BT defends longevity assumptions
UK – British Telecom has defended the assumptions it is making about the impact of longevity on the £35.9bn (€53.3bn) BT Pension Scheme.
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News
Voluntary pensions have to fill gap, OECD says
TURKEY – As benefits in pension systems have been cut substantially since the 1990s, voluntary pension savings will have to fill the gap, says the Organisation for Economic Cooperation and Development.
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Liechtenstein on track to implement EU directive
LIECHTENSTEIN – The law to bring Liechtenstein’s second-pillar pension funds in line with the European occupational pension funds directive goes into its second and third reading in the next weeks.
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News
Saxony-Anhalt passes pension fund law
GERMANY – The German province of Saxony-Anhalt has passed a law on the creation of a pension fund for civil servants. In neighbouring Lower Saxony the same idea brought forward by the Social Democrats found support among the unions.
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News
UK tenders judges’ pension services
UK – The Department for Constitutional Affairs (DCA) has tendered salary and pensions payroll services for the judiciary, members of the European Parliament and senior political and public office holders.
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News
Swiss schemes increase foreign equity exposure
SWITZERLAND – The minimum holding for foreign equities among Swiss pension funds was raised from 1.61% to 5.10% over the last quarter, according to Credit Suisse.
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News
ABN Amro AM names new equities CIO
UK – Barings’ David Kiddie has been named new chief investment officer equities at ABN Amro Asset Management from early 2007.
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News
Eurosif head of research Tagger leaves
EUROPE – Jerome Tagger, head of research at the European Social Investment Forum (Eurosif), has left and won’t be directly replaced.
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News
Complementa consultant Frei to leave
SWITZERLAND – Michael Frei, investment controller at Swiss pension consultant Complementa Investment-Controlling, is to leave the company on December 20, it was confirmed.
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News
Storebrand boosted by Norway’s pension regulations
NORWAY – Following the introduction of mandatory group pension schemes in Norway earlier this year financial group Storebrand could secure 7,200 new mandatory occupational pension schemes, 3,350 of them in the third quarter.
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News
Furlonger joins Aon for new EU consulting practice
EUROPE – Geoffrey Furlonger, who joined Aon Consulting Worldwide from Lombard International Assurance last month, will now head the new EU practice in Belgium.
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Features
Return of the absolute
Swedish managers are coming to terms with the new environment. Barbara Ottawa reports
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News
Hampshire tenders advice on alternatives
UK – The £2.5bn (€3.7bn) Hampshire County Council Pension Fund is seeking advice on alternative investments. The tender follows an overhaul of the fund’s management structure from multi-asset to specialist mandates.
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News
UK and Irish pooled pension funds recover from Q2
EUROPE – UK pooled pension funds returned 3% on average after posting negative returns of 4.1% earlier this year. In Ireland, the median return of pooled pension funds in the third quarter was 5.4%.
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News
FRR re-awards transition broking brief
FRANCE – The €29.1bn, Fonds de Reserve pour les Retraites, the French Pension Reserve Fund, has re-awarded a transition broker contract to Goldman Sachs International.
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News
Durham shakes up £1.3bn council pension fund portfolio
UK – The £1.3bn (€1.9bn) Durham County Council pension fund is set for a complete overhaul of the fund’s investments in an attempt to address the £321m fund deficit. The mandates tendered see a stronger emphasis on bond exposure.
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News
NPRF records strong positive 6.9% return in 2006
IRELAND – The €17.6bn Irish National Pensions Reserve Fund reported positive investment returns both for the third quarter (5.5%) and over the last 10 months (6.9%) after negative returns (-3.8%) in the second quarter.
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News
Audit Commission says London pension fund admin too expensive
UK – “The average administration cost per London council scheme member is £126 (€188) compared to only £44 for metropolitan council funds,” the Audit Commission finds in its study on London council pension funds.
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News
TFR transfer agreement could be €5bn boost to Italian pension funds
ITALY - A compromise reached in Italy will see approximately one third of the €19bn expected yearly in severance payments (TFR) being transferred into private pension funds, one third going into a state pension fund (INPS) and one third staying with small companies, the government estimates.
