All IPE articles in December 2008 (Online) – Page 6
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NewsFrench money managers warned clean up your act
[17:00 CET 04-12] FRANCE – Ratings agency Fitch has today warned French asset managers they are out of touch and need to regain investors' confidence by offering products which match their needs.
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NewsJP Morgan to shrink equity derivatives teams
[16:55 CET 04-12] EUROPE – JP Morgan is planning job cuts on its derivatives desk by combining its structured investments distributor (SIDM) and financial institutions distributor (FIDM) teams in derivatives marketing in London, IPE has learnt.
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NewsFinnish pensions may require more risk-taking
[17:00 CET 03-12] FINLAND – The Bank of Finland has warned uncertainty about its ageing population and potential future tax rises of over 5% could destabilise the entire welfare state and lead to a future reduction in social services and transfers.
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NewsFSCS yet to cover pension scheme buyout protection (amended)
[16:50 CET 03-12] UK – The UK's Financial Services Compensation Scheme (FSCS) has today stressed it has yet to be decided whether it would pay compensation to both members and trustees of pensions schemes where there has been a pensions buyout or buy-in, should the insurance company involved collapse.
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NewsIf IORP ain’t broke, don’t fix it - EFRP
[16:45 CET 03-12] EUROPE – The European Federation for Retirement Provision (EFRP) has told the European Commission there is still no evidence the IORP Directive is failing, making harmonisation of work place pensions and introduction of solvency II-type requirements within the IORP Directive premature.
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NewsWednesday people roundup
[16:30 CET 03-12] GLOBAL – People roundup: USS, Cardano, Bouwfonds Asset Management, T. Rowe Price, Pioneer Investments, Laven Partners, SAM, Pimco, LG, Architas, Insynergy.
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NewsDanish pension interest could fall to 4%
[16:20 CET 03-12] DENMARK – Forsikring & Pension, the Danish Insurance Association, has warned pension customers are likely to see interest on their accounts fall below the base rate to at maximum of 4.5% in 2009.
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NewsDWP postpones revaluation cut
[16:15 CET 03-12] UK – The department for work and pensions (DWP) has confirmed the implementation date for the revaluation cap on deferred pension benefits has been postponed by four months until April 2009.
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NewsCleaners' scheme appoints Cordares
[15:10 CET 03-12] NETHERLANDS - Pensions provider Cordares has been chosen as the new administrator for the €1.35bn industry-wide pension fund for the cleaning and window cleaning sector.
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NewsHammersmith prepares for 2009 adviser search
[13:15 CET 03-12] UK – The London Borough of Hammersmith & Fulham is to begin looking for a new investment consultant for its £432m (€512m) pension fund, to be appointed early next year.
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NewsDanish pensions avoid 'red' traffic light
[17:00 CET 02-12] DENMARK – Finanstilsynet, the Danish Financial Supervisory Authority, has confirmed no life insurance companies and pension funds has triggered the 'red light' in its traffic light warning system.
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NewsIrish funds drop 4% in November
[16:55 CET 02-12] IRELAND – Irish managed pension funds fell 4% in November although there were signs of some stability towards the end of the month, Hewitt Associates has claimed.
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NewsABP votes against Fortis directors (Update)
[16:50 CET 02-12] NETHERLANDS – Giant Dutch pension fund ABP has voted against all but one of the proposed appointments to the board of directors at nationalised Belgian-Dutch bancasurer, IPE has learnt. (Updated with quotes from Paul Frentrop)
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NewsGermany warns against ban on dividend payments
[16:45 CET 02-12] GERMANY – German finance minister Peer Steinbrück has warned against a categorical ban on dividend payments by banks which have been rescued by the their governments.
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NewsMcCreevy looks into hedge funds
[16:35 CET 02-12] EUROPE – Charlie McCreevy, the European Commissioner for internal market and services, has announced he will start a wide-ranging public consultation on the supervision and risks hedge funds.
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NewsPADA highlights issues for non-UK savers
[16:30 CET 02-12] UK – The Personal Accounts Delivery Authority (PADA) has admitted there could be issues for non-UK residents in the future when it comes to accessing savings held in personal accounts.
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NewsPNO Media's cover ratio falls to 95%
[16:15 CET 02-12] NETHERLANDS - The €2.5bn pension fund PNO Media has seen its cover ratio drop by 25% so far this year, leading to a funding ratio of 95.1% at the end of October - far below the critical level of 105% at which the fund must tell regulators ...
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NewsPension firms attack Danish contributions ceiling
[11:00 CET 02-12] DENMARK - Pension experts have slammed a proposal from Denmark's 'economic wise mean to place a DKK100,000 (€13,423) a year ceiling on pensions contributions and claim most people could instead finance this tax saving by the payments they make when they retire.
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NewsNPRF may be used to shore up Irish banks
[17:209 CET 01-12] IRELAND – Brian Lenihan, the minister for finance has confirmed the government could use the National Pension Reserve Fund (NPRF) "in certain circumstances" to shore up its banking industry and financial system.
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NewsShropshire to add second global bond portfolio
[17:20 CET 01-12] UK – Shropshire County Council is seeking a fund manager to runs a second global bond portfolio for its £750m (€890m) pension fund.
