All IPE articles in December 2006 (Online) – Page 6
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News
UK regulator issues cross-border guidance
UK – The Pensions Regulator has issued guidance about the application process for authorisation and approval for trustees to accept contributions in respect of European members.
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Lothian fund advertises investment manager vacancy
UK – The £2.1bn (€3.2bn) Lothian Pension Fund has advertised a job vacancy for an investment manager.
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Aon launches pension scheme insurance
UK – Insurance broking and risk management firm Aon has launched a pension scheme insurance product.
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Dutch Upper House passes new Pensions Act
NETHERLANDS - The Upper House of Parliament, the Eerste Kamer, has passed the new Pensions Act, according to national news agency ANP.
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New EU-Swiss pension rules agreed
SWITZERLAND – Swiss pension funds will cease paying out accrued benefits for workers who leave Switzerland for the EU as from June 2007, according to industry association ASIP.
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UK board wants buy-out disclosure
UK – The UK’s Accounting Standards Board has unveiled new requirements in a bid to improve the disclosure of pensions information – although some observers said it was a “disclosure too far”.
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German trade schemes’ returns slip
GERMANY – Versorgungswerke, or pension funds that serve certain professional trades, saw their average return slip again in 2005 amid persistently low yields on bonds – the schemes’ most favoured asset class.
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Generali, Wüstenrot win Austrian pension tenders
AUSTRIA – The Austrian insurance companies Generali and Wüstenrot have both won tenders for providing company pensions in Vienna.
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Mercer principal Stocker joins Lane Clark & Peacock
UK - Lane Clark & Peacock says it has hired Mercer Human Resource Consulting principal Mark Stocker as partner within its London actuarial team.
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BGI launches UK government bond ETFs
UK - Barclays Global Investors has launched two UK government bond Exchange Traded Funds for UK investors.
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Watson Wyatt’s DC ‘gateway’ gets £2bn
UK – Watson Wyatt says its new defined contribution “Investment Gateway” has attracted at least 20 pension schemes and more than £2bn (€2.96bn) of assets.
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Belgium in talks with European, US funds
BELGIUM – The Belgian Association of Pension Institutions (BVPI) is in "serious talks" with European pension funds and one American fund in a further effort to establish Belgium as a pan-European pension fund domicile.
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Norway Global fund excludes cluster bomb maker
NORWAY – The NOK1.7trn (€209bn) Norwegian Government Pension Fund – Global has excluded the South Korean Poongsan Corporation from its investment portfolio for producing cluster bombs.
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UK government rejects longevity bonds
UK – The UK government has rejected the Pensions Commission’s suggestion that it should issue so-called “longevity bonds” to deal with future mortality rates.
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Dutch institutions’ raw materials appetite grows
EUROPE – Dutch institutional investors such as pension funds have a growing appetite for raw materials, so far they have invested already around €20bn (£13.5bn) in the asset class reports show.
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Scottish MPs want to curb tobacco investment
UK – A group of members of the Scottish parliament want to stop their pension fund investing in tobacco companies.
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Deutsche’s DWS rolls out sixth hedge fund
GERMANY – Deutsche Bank’s retail fund arm DWS is rolling out its sixth single hedge fund domiciled in Germany amid signs of growing investor demand for the products, according to DWS chief executive Klaus Kaldemorgen.
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UK pension funds grow to £801bn – statistics office
UK – The value of UK pension funds have risen to just over £800bn (€1.18bn) according to figures from the Office for National Statistics.
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Mellon, BoNY assessing custody joint ventures
EUROPE – Mellon Financial and the Bank of New York are assessing their respective European custody joint ventures following yesterday’s announcement that they plan to merge.
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SPF Beheer aims to take on six pension clients
NETHERLANDS – SPF Beheer says it aims to take on the asset management of up to six pension funds in the next few years.
