All articles by Cecilia Valente – Page 8
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News
AXA loses €16.7m Age Concern mandate
UK – AXA Sun Life Investment Management has lost a mandate worth about £11.5m (€16.7m) to Schroder Investment Management at the pension scheme of the Age Concern charity.
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Italian banks OK pension compensation fund
ITALY – The Association of Italian Banks has agreed to the launch of a fund to compensate employers who chose to pay employees’ severance pays to pension funds.
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IPE-Quest: Swiss manager tenders €150m
SWITZERLAND – A Swiss asset manager has tendered the management of a €150m quantitative global equities portfolio via IPE-Quest.
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Crédit Agricole, Caisse Nationale in custody tie
FRANCE – Crédit Agricole Group and the Caisse Nationale des Caisses d’Epargne are in talks to combine their securities services businesses.
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IPE-Quest: Swiss scheme tenders US equities
SWITZERLAND – A Swiss pension Fund has put out a request for tender for actively managed US small- to mid-cap equities via IPE-Quest.
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Schemes “woefully” short of bonds - PIMCO
GLOBAL - Pension funds are “still woefully” short of bonds to offset their liability risks, says the European head of Allianz’s US-based fixed income arm PIMCO.
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Belgian pension reformer Becquaert moves on
BELGIUM – Henk Becquaert, principal private secretary to Belgian pensions minister Bruno Tobback, has left the post.
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Lyonnais settlement was a “commercial decision”
UK – Credit Lyonnais’ legal advisor says the settlement with Watson Wyatt over alleged negligent pension advice was a “commercial decision” by the French bank.
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IPE-QUEST: Swiss fund tenders €118.5m
SWITZERLAND – A Swiss pension fund has tendered a $150m (€118.5m) US equity mandate via IPE-Quest.
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Swiss first-pillar consultation extended
SWITZERLAND – The Swiss interior ministry has extended the period of consultation about changes to the AHV first pillar pension system by three months following protests from political parties.
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NAPF needs to broaden appeal, Ellison says
UK – The new chairman of the National Association of Pension Funds has said that in the future the association could turn into a federation including different interest groups like defined benefit schemes.
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‘50-year gilts not good for pensioners’
UK - Bonds with very long maturities are good news for the government and pension funds, but not pensioners, says Intelligent Capital’s Avinash Persaud.
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Italian pension saving rules miss deadline
ITALY – New retirement saving legislation that had been expected by the first half of May has failed to materialise.
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NAPF: Blunkett calls for consensus
UK – David Blunkett, the new secretary of state for work and pensions, has called for cross-party and popular consensus to find a long-term solution to the pension crisis.
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NAPF: Myners calls for transparent voting
UK - The government should require institutional investors’ voting to be “a matter of public record” says Paul Myners, author of a 2001 report on institutional investment.
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NAPF: Turner says pension system unfit
UK - Adair Turner says that almost all the new information gathered since his Pension Commission’s first report last October has confirmed that the existing system “is not fit for purpose”.
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NAPF: PPF chief discusses benefits
UK - The new Pensions Protection Fund would only cut benefits as a “last resort” says PPF chairman Lawrence Churchill.
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NAPF: Faulkner berates government
UK – The government’s understanding of how to manage pensions is on a par with that of trustees and it too needs education, the outgoing chairman of the National Association of Pension Fund said today.
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Mercer London chief Couchman quits
UK – Paul Couchman, head of the central London operations at Mercer Human Resource Consulting and former head of UK administration, is to leave the firm shortly.
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JP Morgan replaced by State Street at AMEC
UK – JP Morgan Investor Services is among the losing custodians as State Street Corp. has won two mandates to service the £950m (€1.31bn) AMEC Staff and Executive pension schemes.
