All IPE articles in December 2008 (Online) – Page 5
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NewsFive 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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NewsPPF 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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NewsGermans 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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NewsPensions '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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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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NewsNew evidence of bad advice on pension transfers
[13:00 CET 08-12] UK – The Financial Services Authority has uncovered fresh evidence of pension transfer mis-selling which indicates some occupational pension members may have been wrongly advised to shift out of schemes in the wake of A-Day.
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NewsItalian funds to discuss investment review
[16:45 CET 05-12] ITALY – The Italian pension fund regulator Commisione di Vigilanza sui Fondi Pensione (Covip) has invited Italy’s largest pension funds to discuss possible changes to the current investment strategy in light of the credit crunch.
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NewsSweden advised to link retirement to longevity
[15:30 CET 05-12] SWEDEN – The Organisation for Economic Cooperation and Development (OECD) has suggested Sweden should consider linking the state retirement age to life expectancy.
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Concentrate on home territory, warns DNB’s Kellerman
[16:15 CET 05-12] NETHERLANDS – Dutch pension funds and pension providers with cross-border ambitions should put such plans on hold and focus on solving asset shortages caused by the credit crunch, the Dutch pension regulator DNB has warned.
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NewsPMT halts indexation and raises subs
[16:10 CET 05-12] NETHERLANDS – PMT, the giant pension fund for metal workers, has announced it will not grant its participants any indexation in 2009 because of its considerable funding shortfall.
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NewsKensington seeks custodian and increases equities
[15:40 CET 05-12] UK – The Royal Borough of Kensington and Chelsea (RBKC) is seeking a global custodian for its £409.6m (€478.9m) local government pension fund.
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NewsBaerum appoints consultant for new scheme
[15:50 CET 05-12] NORWAY – The Norwegian municipality of Baerum has appointed Pensjon & Finans AS to help establish a new pension fund.
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NewsLothian buses may increase alternatives
[15:25 CET 05-12] UK – The Lothian Buses Pension Fund, a part of the Lothian Pension Fund overseen by Edinburgh City Council, has been recommended to reduce its allocation to equities by 15% and switch the money into alternative assets.
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NewsIreland allows two-year annuity deferral
[15:15 CET 05-12] IRELAND – Members of Irish defined contribution (DC) occupational schemes have been given the option of deferring for two years the need to buy an annuity at retirement.
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NewsBMB recruits Chris Walker for European schemes
[17:25 CET 04-12] GLOBAL – Chris Walker, former managing director of Scottish Widows Investment Partnership (SWIP), has joined alternative asset manager BMB Group ahead of the firm's move to launch Shari'a compliant products for European pension funds.
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NewsLothian action against Vodafone is dismissed
[17:20 CET 04-12] UK - A class action brought by Lothian Pension Fund against Vodafone, relating to its purchase of the German telecoms company Mannesmann, has been dismissed by a New York court.
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NewsCornwall targets passive global equities
[17:15 CET 04-12] UK – Cornwall County Council is seeking a passive global equity manager to run a new portfolio for its £823m (€951m) pension fund.
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NewsDanica to cut pension interest to 1.5% in 2009
[17:15 CET 04-12] DENMARK – Danica Pension, the DKK 241bn (€32.36bn) pension arm of Danske Bank, has announced it will pay a net interest rate of 1.5% for all customers with Danica Traditional pension plans.
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NewsPGGM combines chief finance and risk management role
[17:10 CET 04-12] NETHERLANDS – Jac Kragt has been promoted to become the chief finance and risk officer (CFRO) at the recently disconnected asset management arm of the giant Dutch health care pension fund Zorg & Welzijn (PFZW).
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NewsPension funds see cover ratio fall to 95%
[16:30 CET 04-12] NETHERLANDS - The average cover ratio of Dutch pension funds dropped to approximately 95% this week because of a steep decrease in long-term interest rates, Hewitt Associates has suggested.
