All articles by Cecilia Valente – Page 12
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News
Sweden rules out merging AP schemes for now
SWEDEN – The Swedish government has dismissed for the time being a suggestion to merge the four biggest AP buffer funds, worth a total SEK626.5bn (€68.4bn), as a cost-cutting measure.
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News
Devonport scheme taps PIMCO for swaps
UK - The £680m (€991.9m) Devonport Royal Dockyard Pension Trustees Ltd. pension fund has made its first investment in swaps and futures, appointing PIMCO Europe to manage a £105m bond mandate.
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UK local authorities ‘face €43bn pension gap’
UK - Local authorities’ pension schemes face a combined total funding shortfall of up to £30bn (€43.7bn), according to an actuarial valuation by the Chartered Institute of Public Finance and Accountancy.
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Dutch pension groups form governance platform
NETHERLANDS – A number of Dutch institutions, including Blue Sky Group, MN Services and builders’ pension scheme SFB, have set up a group to lobby listed companies to improve corporate governance, IPE has learnt.
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Blue Sky hires market regulator’s Ruitenbeek
NETHERLANDS – Blue Sky Group, which manages the pension assets of airline KLM, has recruited Marga Ruitenbeek from the Dutch financial markets regulator for a new position within its investment team.
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Swiss schemes ‘invest more in alternatives’
SWITZERLAND – Swiss institutional investors have invested more in alternative asset classes and real estate in 2004 - but their asset allocation “remains prudent” a survey sponsored by Credit Suisse Asset Management suggests.
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News
Row erupts over Swiss first-pillar pensions
SWITZERLAND – A row has erupted over a union call for an enhancement to Swiss first-pillar pensions – with an employee association saying it is a “wrong signal”.
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News
Swiss union in pension call (Correct)
SWITZERLAND - The Swiss federation of trade unions, the largest employee federation in the country, has called for the first pillar pension to be worth CHF3,000 (€1,933) per person (Corrects figure).
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News
Expected returns for Portuguese funds plummet
PORTUGAL – Watson Wyatt says that expected returns for Portuguese pension funds in February plummeted to –0.1%.
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News
New UK protection fund and regulator launch
UK – The UK has two new pension bodies as of today, the Pension Protection Fund and the Pensions Regulator - both instituted by the Pensions Act 2004.
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News
Schemes eye customised indices, providers say
GLOBAL – The demand for tailor-made indices is growing among pension funds keen to keep a close eye on asset managers and find new market opportunities, index providers have told IPE.
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News
San Paolo arm names old-age provision head
ITALY – San Paolo IMI’s insurance arm Assicurazioni Internazionali di Previdenza (AIP) has appointed Ras Assicurazioni’s Giuseppe Greco to the new role of managing director to develop its old-age provision business.
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News
Fiat pension scheme in annuities move
ITALY – The €132.3m pension fund for Fiat’s middle-management, Fondo Pensione Quadri e Capi Fiat, is looking for an established insurance company to provide annuities for its retiring members.
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News
PensionDanmark returns 11% in 2004
DENMARK – The Danish labour market pension fund PensionDanmark says it returned 11% in 2004 and that its reserves are almost four times higher than required by law.
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News
ABN Amro names transition management head
EUROPE - ABN Amro has named JP Morgan’s Steve Webster as head of transition management, a new role, amid a push in the area.
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News
Belgian schemes returned 8.6% in 2004 - study
BELGIUM – Belgian active pension funds returned an average 8.6% in 2004 - buoyed up by returns in equities and real estate, according to Mercer Human Resource Consulting.
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News
CSAM sets up tax-efficient vehicles for schemes
SWITZERLAND - Credit Suisse Asset Management has launched two new tax-efficient investment vehicles for US equities which are exclusively aimed at Swiss pension funds.
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Features
JP Morgan walks away from FRR mandate
JP Morgan Investment Management, one of the fund managers lined up by the e19.2bn French reserve fund for stand-by mandates, has withdrawn, thereby giving up the chance to run Euro-zone large-cap and US mid-cap equities. The fund, the Fonds de Réserve pour les Retraites (FRR), said it would not re-award ...
