All articles by Carolyn Bandel – Page 67
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IPE AWARDS: More needed for pan-European funds
EUROPE – European pension fund representatives told the sixth annual IPE Awards seminar that more will need to be done for pan-European pension funds and cross-border activities to "grow and blossom".
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USS buys into Bulgarian real estate developer
REAL ESTATE – The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, has made a move to increase it Eastern European real estate holdings.
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Belgian firms facing DC “nightmare”
BELGIUM – Belgian companies operating defined contribution (DC) schemes could soon face a financial and human resources “nightmare” in managing their ageing workforces, pension consultants say.
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PGGM looking to expanding SRI team
NETHERLANDS – The €77bn (£52bn) Dutch healthcare scheme PGGM is looking to expand its responsible investment team with senior advisors, the fund said.
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Half of Dutch funds mull fiduciary move - KPMG
NETHERLANDS – Almost half of Dutch pension funds are considering transferring their investment management to fiduciary managers, a study by accounting firm KMPG has found.
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Bank of NY looking for European pensions head
EUROPE – The Bank of New York is looking to appointment someone to be responsible for its entire European pensions business, managing director Robert Darmanin said today.
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Row over PMT’s involvement in hedge funds
NETHERLANDS – Dutch trade union FNV is demanding that PMT, the €30bn Dutch pension scheme for metalworking and mechanical engineering, withdraw its investments from Paulson, the activist hedge fund.
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Belgium plans incentives for European schemes
BELGIUM – The Belgian government wants to attract large European pension funds through exemption from VAT and lower corporation tax, the country’s prime minister has said.
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Project to collate Dutch pension liabilities
NETHERLANDS – The Dutch trade association of private insurance companies and Statistics Netherlands (CBS) are to join forces to analyse Dutch pension liabilities.
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Pensions Board looking for new actuary
IRELAND – The Irish Pensions Board is looking for a new actuary following the promotion of Brendan Kennedy to replace Anne Maher as chief executive.
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PensionDanmark fixes 2007 rate
DENMARK – PensionDanmark, Denmark’s largest labour market pension fund, has fixed the long term pension savings interest rate for 2006 and preliminary for 2007 to 6% after tax, the fund announced today.
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De Geus role unclear after Dutch elections
NETHERLANDS – It was unclear if Dutch pensions minister Aart Jan de Geus would retain his post in the new government, after elections yesterday.
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Dutch OPF calls for multifunds legislation
NETHERLANDS - Loek Sibbing, chairman of the Dutch Foundation for Company Pension Funds or OPF, has called on the government to ease legislation and enable the creation of “multifunds”.
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Pension funds behind interest-rate swaps surge
EUROPE – The Bank for International Settlements says interest-rate swaps activity surged in the first half of 2006 – with analysts putting it down to pension fund interest.
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Germany’s Landkreis Schaumburg in pension tender
GERMANY – The German district of Landkreis Schaumburg is seeking group pension and life reinsurance services for a new retirement home workers’ relief fund.
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Italy’s Fondo Fonte seeking managers
ITALY – Fondo Fonte, the €132m (£83,64m) Italian pension fund for commerce, tourism and service sector workers, is seeking external managers for a guaranteed minimum return portfolio.
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Pension funds “cold” on trading platform plan
EUROPE – Plans by a group of investment banks to set up a new pan-European equity trading platform have met with a lukewarm reception from pension funds.
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DNB announces new hedge fund directive
NETHERLANDS –De Nederlandsche Bank will implement a new directive for the risk management of investments in private equity and hedge funds, central bank president Nout Wellink has announced.
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ITV may end final salary pension scheme
UK – UK commercial broadcaster ITV, facing a £5bn takeover bid from NTL, is planning to close its €1.758bn (£1.12bn) final salary pension scheme also to existing members, in favour of a career-average scheme.
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Clwyd scheme tenders commodities, portable alpha
UK – Due to a revamp, the £793m (€1.2bn) Clwyd pension fund, run by Flintshire County Council, is tendering a £15m commodities mandate and is looking for a portable alpha solution, possibly hedge funds.
