All articles by Daniel Brooksbank – Page 89
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ABP to formulate FTK transition policy
NETHERLANDS - Stichting Pensioenfonds ABP, the €168bn scheme for Dutch civil servants, is to formulate a “transitional policy” to deal with the new FTK rules.
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OECD calls for “frank debate” on pensions
GLOBAL – The Organisation for Economic Cooperation and Development says the time has come for some “frank debate” about how the how to meet the costs of ageing.
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PWC pensions partner Shuttleworth dies
UK – John Shuttleworth, a trenchant commentator on the pensions scene in the UK for PricewaterhouseCoopers, has died suddenly aged 47.
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Low rates prompt huge bond move at Philips
NETHERLANDS – The €12.5bn Dutch pension scheme of electronics giant Philips has increased its fixed income exposure in a bid to cut its sensitivity to interest rates.
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Vanstone named head of AXA Rosenberg in Europe
EUROPE – AXA Rosenberg has promoted marketing head Simon Vanstone to European chief executive, replacing Will Jump who is returning to the firm’s US headquarters.
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US teachers invest €493m in French property
FRANCE – US education retirement system TIAA-CREF has bought €493m in French real estate from Standard Life Investments, according to Invesco Real Estate which acted on behalf of the scheme.
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EU warns of misplaced confidence over pensions
EUROPE – Charlie McCreevy, the European Commission’s internal markets commissioner, has warned against “misplaced confidence” in pension provision.
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Shell to contribute $1.4bn to DB schemes
UK – Oil giant Shell plans to contribute an estimated $1.4bn (€1.1bn) to its defined benefit pension plans this year.
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‘Over 75 UK schemes’ allocate to hedge funds
UK – More than 75 UK pension funds have made allocations to hedge funds, according to a report from Morgan Stanley.
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Northern Trust names fund services executive
EUROPE - Northern Trust has named Clearstream International’s Sue Baines as vice president of business development in its global fund services team in London.
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UK fund managers eye headcount expansion
UK – Fund management firms see improving business sentiment and expect to grow their headcount, according to a new survey.
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Actuaries Lane Clark names three new partners
UK - Consulting actuaries Lane Clark & Peacock has named three new partners: Ian Gamon, Aiden Coloe and Mary McGrath.
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Capital in “performance difficulties” - Hymans
UK – Capital International’s “performance difficulties” may hinder its ability to win new business in the UK, says investment consultant Hymans Robertson.
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European schemes 'need up to 10% asset growth'
EUROPE - A new report from J P Morgan claims European corporate pension schemes will need to grow their assets by up to 10% a year - assuming no extra contributions are made - to maintain their funding level.
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Iceland’s Kaupthing in talks to buy UK’s Singer
ICELAND/UK – Icelandic bank Kaupthing, which has made a series of European acquisitions since 1998, is in talks to buy UK asset manager Singer & Friedlander.
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Ex-Mercer president’s final bonus was down 39%
GLOBAL – Peter Coster, the former president of consulting firm Mercer, saw his bonus in his final year at the firm decline by more than 39%.
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UK schemes to get more disclosure from managers
UK – UK pension funds are to get more disclosure about their asset managers’ trading commissions from next year, under new proposals put together by the industry and the Financial Services Authority.
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Ireland legislates for pension pooling
IRELAND – The Irish government is preparing legislation to provide the framework for asset pooling by pension funds.
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Petroleum Fund plans €819m forex move
NORWAY – The Norwegian central bank plans to make more than €800m of foreign currency purchases for Petroleum Fund next month.
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BGI launches pooled liability funds
GLOBAL – Barclays Global Investors has launched 20 pooled liability driven investment funds with more than £1bn (€1.45bn) in assets.
