All articles by Cecilia Valente – Page 3
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F&C names Standard AM’s Mann director emerging debt
EUROPE - F&C Asset Management has recruited Jonathan Mann, formerly with Standard Asset Management, as director of the emerging debt team. This is a new position within a team that mostly caters for institutional investors.
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PPF to assess Sheffield company scheme
UK - The Pension Protection Fund (PPF) is poised to start assessing the situation of the £120m (€173.8m) pension scheme of steel products supplier Sheffield Forgemasters Engineering (SFE), a company in administration.
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AXA IM to buy Framlington Group Ltd for €252m
UK – AXA Investment Managers (AXA IM) is poised to buy boutique Framlington Group Ltd from HSBC Holdings and Comerica Inc for £174m (€252.1m).
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Italy-cautious optimism on pension reform progress
ITALY – The latest meeting between welfare minister Roberto Maroni and 22 social partners to map out the future of the second pillar ended today with expressions of cautious optimism from both parties.
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Institution lifts Pioneer’s first-half results
GLOBAL – A European institutional investor is responsible for over half of the €4.8bn of inflows netted by Pioneer Investments in the first half of 2005.
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Watson loses consultancy brief with Durham CC
UK – Consultancy firm Watson Wyatt has lost a brief with the £1bn (€1.44bn) Durham County Council Superannuation Fund.
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Dutch manager tenders SRI brief via IPE-Quest
NETHERLANDS - A Dutch asset management firm has tendered a socially responsible investment (SRI) brief worth up to $100m (€83.1m) via IPE-Quest.
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Swiss fund tenders half billion euros via IPE-Quest
SWITZERLAND – A Swiss pension fund has tendered five briefs, worth a total in the region of half a billion euros via IPE-Quest.
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NAPF warns of ‘governance vacuum’ in UK schemes
UK – The National Association of Pension Funds (NAPF) has called for the introduction of a voluntary code of pensions scheme governance to avoid what I called a ‘governance vacuum’ resulting from the shift from defined-benefit (DB) to defined contribution (DC) pension deals.
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BGI launches 16 sterling and euro LDI funds
EUROPE- Barclays Global Investors (BGI) has launched 16 new pooled liability driven investment (LDI) funds aimed at UK and European pension funds that want to outperform their liabilities.
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Aon says second pension rebates to double
UK – Rebates paid to those contracting out of the state second pension should double to £22bn (€31.8bn) from 2007, triggering an increase of contracting out options, according to consulting firm Aon.
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Reform needed for Spain’s pension stability
SPAIN – The Spanish government has warned that the current pension system needs to be reformed to guarantee stability after 2015.
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Study says raise UK pension age to 67
UK -- The Institute for Public Policy Research (ippr) has suggested raising the UK state pension age to 67 from the current 65 between 2020 and 2030 to reflect increased life expectancy.
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Pension plans trail Italy’s corporate perk list
ITALY – Italian workers value company cars and health insurance more than pension plans, according to data from Watson Wyatt and Hewitt Associates.
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Italy: Maroni wants to help small firms’ pension
ITALY – Companies with up to 50 employees could be the main target of a new compensation fund to be set up to aid employers investing severance payments into pension funds, says welfare minister Roberto Maroni.
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UK schemes ‘shouldn’t count on tax loophole’
UK - Standard Life says pension funds and their advisers shouldn’t count on a grey area in current tax rules that let some members claim tax privileges – because the authorities are set to end it.
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Watson consultant van Zoelen joins PIMCO
EUROPE – Bond specialist PIMCO, part of Allianz, says it has hired Watson Wyatt investment consultant Henk-Jan van Zoelen.
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IPE-QUEST: €10.6bn fund tenders hedge funds/TAA
EUROPE - A $13bn (€10.6bn) European pension fund has tendered for up to five global macro hedge fund/tactical asset allocation (TAA) overlay managers via IPE-Quest.
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UK protection fund ‘to strangle DB in charities’
UK – The Pensions Trust has warned that the Pension Protection Fund and the new FRS17 accounting standard could “completely strangle DB provision in the charitable sector”.
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Italian insurance regulator wants pension role
ITALY - The Italian insurance industry regulator Isvap has criticised the draft pension law, saying it favours its pension industry counterpart Covip.