All IPE articles in December 2008 (Online) – Page 3
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News
'Smoothed' accounting could help pensions woes
[16:35 CET 08-12] EUROPE – The introduction of ‘smoothing’ on the accounting of pension fund asset valuations would significantly improve pension fund valuations and management without fundamentally changing the risks they need to manage, according to BlackRock Asset Management.
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Pensions 'must go back to basics'
EUROPE – European pension fund managers are predicting colleagues will simplify their investment strategies in light of the recent market turmoil, look for lower average returns and apply a “back to basics” approach to risk management in the future.
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Germans claim to believe in long-term profit
[17:05 CET 08-12] GERMANY – Only 10% of Germans have changed their private pension provision on the back of the financial crisis, a survey by JPMorgan has found.
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PPF taps State Street for risk mandate
[17:05 CET 08-12] UK – The £2bn (€2.3bn) Pension Protection Fund (PFF), the UK’s lifeboat scheme for corporate defined benefit arrangements, has tapped State Street Corporation for a risk services mandate.
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Five of top 10 Dutch funds hit in swap curve dilemma
[17:15 CET 08-12] NETHERLANDS – The Dutch association for industry-wide pension funds (VB), representing giant schemes such as ABP and PFZW, has revealed half of its 10 largest members now have cover ratios of 95% or less.
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1 in 5 pension providers still not SRI-proof
[17:20 CET 08-12] NETHERLANDS – Over 20% of Dutch pension funds and pension insurers have yet to make any effort to develop a socially-responsible investment (SRI) policy, according to the Association of Investors in Sustainable Development (VBDO).
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Second BA deal under threat over pension scheme
[17:25 CET 08-12] GLOBAL – Australian airline Quantas today identified problems connected to British Airways’ pension fund as one of the “significant matters” that still need to be resolved before a merger with BA can be achieved.
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Pension fund investors could help the crisis – Mn
[15:30 CET 09-12] EUROPE – A Dutch asset management firm has called on regulatory authorities to allow pensions funds to focus less on funding ratios and permit investments which improve corporate debt liquidity.
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Pensionskassen called on to split active/ retired members
[15:45 CET 09-12] AUSTRIA – The Austrian Private Equity and Venture Capital Organisation (AVCO) has called on pensionskassen to split their active and passive members as officials argue sharing the same portfolio is an obstacle to investing in venture capital.
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Quest for global developed markets debt
[15:50 CET 09-12] UK – A UK-based investment consultancy company has said it is looking for a manager to manage a $1bn (€780m) global developed market debt investment grade mandate, using IPE quest.
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Voluntary retirement confusion forces French law change
[16:00 CET 09-12] FRANCE – The French government is expected to announced adjustments to a new law covering voluntary retirement, following confusion over indemnities payable by employers.
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'Cherish and embrace' activist shareholders
[16:10 CET 09-12] EUROPE – Shareholder activism is an incentive to better governance and value creation which should be “cherished and embraced”, a panel discussion on hedge funds in London stressed today.
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EC mulls short-selling ban
[16:20 CET 09-12] EUROPE – Niall Bohan, the head of the asset management unit at the European Commission (EC), today revealed the EC is reviewing short-selling and looking at possible bans on the practice, while seeking to organise stock-lending.
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Pension trustees caught in funding dilemmas
[16:45 CET 09-12] UK – Pension fund trustees are being advised to review employer covenants, investigate the sponsor’s current financial status and begin future funding negotiations as soon as possible, as Aon Consulting is hearing evidence of employers stating they cannot afford to pay existing funding needs.
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Employers promise to pay existing contributions - DWP
[17:10 CET 09-12] UK – Employers are likely to maintain a pension funding level of approximately 8% once personal accounts are introduced in 2012, suggests research unveiled today by the Department for Work and Pensions.
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Listed firms may need to plug deficits
[15:45 CET 10-12] NETHERLANDS - Listed companies with defined benefit pension arrangements may have to fork out millions of euros to make up for the present shortfall of their company schemes, analysis by SNS Securities has suggested.
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BP scheme goes ALM
[15:50 CET 10-12] UK – The £18bn (€20.6bn) UK pension fund of oil giant BP will embark on its first asset liability modelling review of scheme investments and funding, Sally Bridgeland, chief executive of PB Pension Trustees, has revealed.
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Central control over HR key to mobile pensions
[16:30 CET 10-12] GLOBAL - Multi-national firms offering mobile employees some form of international pension arrangements to mobile workers effectively have to rein in the promises HR departments may make when travelling from one location to another, suggest an official at mining giant Rio Tinto.
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Call for attention on default options
[16:45 CET 10-12] EUROPE –Executives and trustees of defined contribution pension schemes are being advised to pay closer attention to the ‘default’ option of their investment choices and ensure the offering is suited to the needs of members.
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Mercer to help drive Nissan’s pensions strategy
[17:00 CET 10-12] GLOBAL - Mercer, the consultancy firm, has been appointed by car manufacturer Nissan Motors to be its global retirement consultant.
