All IPE articles in December 2008 (Online) – Page 4
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Wednesday people roundup
[17:05 CET 10-12] GLOBAL – People roundup: UBS, Putnam, T. Rowe Price, Axa IM, First Private, Jyske Invest, Laven Partners.
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APG eyes European pension assets
[17:10 CET 10-12] EUROPE – Pension provider and asset manager APG Group is continuing its push for expansion abroad in 2009, focusing on developed European markets, according to director of pension administration Jaap Maassen.
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Pensionskassen could be reformed
[17:15 CET 10-12] AUSTRIA – The new Austrian government coalition has signed a working paper which contains plans to discuss reform of the Pensionskassen system in Austria.
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Pensions forum: Supporting struggling economies and firms
[11:00 CET 11-12] EUROPE – The impact of the credit crunch and the resulting market volatility on financial institutions, in particular banks, has led a number of countries, and institutions to look to pension funds to bail them out, but do schemes agree?
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No stays as 'no' on conditional indexation
UK – The UK’s Department for Work and Pensions has said it believe there is sufficient benefit in allowing occupational pension funds to apply conditional indexation but it will do further work next year into the feasibility of introducing collective DC schemes and risk sharing.
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Market crisis wipe $5trn from pensions
[16:55 CET 11-12] GLOBAL – Falling stock markets has wiped $5trn (€4trn) off the value of private pension plans across the world, and approximately two-thirds of that applies to US funds only, The Organisation for Economic Cooperation and Development has suggested.
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Pensions is biggest employee concern for 2009
[17:10 CET 11-12] GLOBAL – A survey of HR professionals about the provision of employee benefits in 2009 has revealed retirement provision is now the greatest concern to employees, according to Mercer.
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To fund or not to fund now – a Basle question
[17:15 CET 11-12] SWITZERLAND – Parties in the Swiss canton of Basle city are divided over the question whether or not to postpone payments to the pension fund in light of the current financial crisis.
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Elkarkidetza halves equity allocation
[17:20 CET 11-12] SPAIN – The Bilbao-based Elkarkidetza, the pension fund for Basque Country provincial and local government employees, has cut its equity exposure from 32% to 15% this year amid market turmoil.
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Market turmoil drives change for Ilmarinen
[17:25 CET 11-12] FINLAND - Ilmarinen Mutual, the Finnish pension fund with €23.7bn in assets under management, is making the first tactical and minor strategic changes to its investment strategy as a result of the economic turmoil.
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Pensions market pushes for private equity self-regs
[15:30 CET 12-12] NETHERLANDS - Mn Services, the €65m service provider for the large metal pension schemes PME and PMT, has initiated a drive for increased self-regulation by private equity firms and hedge funds and delivered key recommendations through a consultation with the industry.
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ABP and VBL work together on border scheme
[15:50 CET 12-12] GERMANY/ NETHERLANDS – ABP, the €193bn Dutch pension fund for civil servants, and VBL, the €13bn German public sector supplementary insurer, are working together to create a new scheme for a Dutch-German border hospital.
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Swiss parliament rallies behind rate cut
[16:00 CET 12-12] SWITZERLAND – The smaller chamber of the Swiss parliament (Ständerat) has now agreed the conversion rate of second pillar pensions should be cut to 6.4% by 2015 in light of the financial crisis.
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Venice mulls pension money for local infrastructure
[16:30 CET 12-12] ITALY – The local government of the Veneto region in the North-East of Italy is considering using the resources of its local pension funds to finance regional infrastructure projects.
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Glasgow begins bonds search
[16:40 CET 12-12] UK - Officials managing the £9.24bn (€10.3bn) Strathclyde pension fund have begun the search for a bond manager who could eventually look after up to £800m.
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Funds advised to 'back-end load' pensions recovery
[17:05 CET 12-12] UK – The Pensions Regulator (TPR) has advised pension funds to do what they can to avoid extending pension recovery periods in the onslaught of recession but instead negotiate higher sponsor payments for the end of the term.
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Shell’s funding ratio tumbles
[17:10 CET 12-12] NETHERLANDS – The Dutch pension fund of Anglo-Dutch oil giant Shell has seen its funding ratio plummet 160% to 85% in less than a year.
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'Go with the bond curve', say Dutch actuaries
[17:15 CET 12-12] NETHERLANDS – The Dutch Actuarial Association has advised pension funds they can now invoke an exemption rule of Dutch pensions law which allows them to use the bond curve rather than the swap curve to calculate the value of their liabilities.
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MP asked for fresh vote over pension guarantee
[15:30 CET 15-12] DENMARK – Around 700 members of Denmark's MP Pension claim they feel cheated of their investments and are calling for a fresh election concerning their interest rate guarantee.
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Rescue packages tap pension fund reserves
[15:45 CET 15-12] NORWAY/IRELAND – The governments of both Norway and Ireland have announced plans to draw money from their national pension reserves for fiscal stimuli early next year.
