All IPE articles in December 2009 (Online)
View all stories from this issue.
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News
IASB corrects 'unintended consequences' of IFRIC 14
[15:15 CET 01-12] GLOBAL – The International Accounting Standards Board (IASB) has corrected earlier wording to its IFRIC 14 pensions accounting rules, which prevented some companies from recognising early pensions contribution payments as assets on the balance sheet.
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Deutsche Bank opens cross-border pension vehicle to clients
[15:45 CET 01-12] GERMANY – Deutsche Bank has created a cross-border asset-pooling vehicle for its own pension assets, and is now inviting clients to join too.
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Ofcom review questions BT pension holidays
[16:40 CET 01-12] UK – Ofcom, the UK regulator of the communications industry, has questioned the role of pension contribution holidays taken by BT in the 1990s, as part of a consultation to assess whether other telecoms firms should now help plug the BT Pension Scheme deficit.
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UK governance code to target investor communication
[16:45 CET 01-12] UK – The existing UK Combined Code on corporate governance remains "broadly fit for purpose" but additional proposals relating to the role of the chairman and non-executive directors have been suggested by the Financial Reporting Council (FRC).
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AP3 targets corporate credit managers
[16:50 CET 01-12] SWEDEN – Tredje AP-fonden (AP3), the third Swedish National Pension Fund is seeking a number of corporate credit bond managers for its SEK188.6bn (€18.1bn) fund.
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PFA expands into Danish retail pensions
[16:55 CET 01-12] DENMARK – Danish occupational pension provider PFA Pension has taken its first step into the retail pensions market, and linked up with Danish local and regional savings banks to provide private pensions.
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Wednesday people roundup
[13:00 CET 02-12] GLOBAL – ÖPAG, Danish Money and Pensions Panel, Cardano UK, International Asset Management, RBC Capital Markets
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TPR targets smaller schemes with revised risk guidance
[13:30 CET 02-12] UK – The Pensions Regulator (TPR) has highlighted seven risk areas where trustees need to improve when assessing the internal risk and controls framework for the scheme.
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Romania moves to cut pensions monopoly
ROMANIA – The two largest funds in the Romanian second pillar will not be handed new clients from the pensions default pool over the next two years, the supervisory authority has decreed.
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Lack of client demand hinders ESG growth - consultants
[15:30 CET 02-12] GLOBAL – Investment consultants deem the lack of explicit client demand to be a barrier preventing quicker development of environmental, social and governance (ESG) services offerings, according to a survey conducted by the European Sustainable Investment Forum (Eurosif).
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State Street acquires Mourant to build alternatives presence
[16:00 CET 02-12] GLOBAL – State Street Corporation has made a fresh move to build its presence in the global administration market and acquired alternative investments fund administrator Mourant International Finance Administration (MIFA) in a cash deal.
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Danish pension funds face up to Israeli investments
[16:15 CET 02-12] DENMARK - Danish pension companies PKA and PensionDanmark have defended their controversial Israel-linked investments in the face of public criticism, while Danica Pension has said it may divest several of the holdings.
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BlackRock completes BGI takeover
[16:30 CET 02-12] GLOBAL – BlackRock has finally completed the deal to buy Barclays Global Investors (BGI) and ETF provider iShares from Barclays Group, making it the largest asset manager in the world.
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Frigerio to step down as head of Pioneer
[13:00 CET 03-12] EUROPE – Unicredit Group is preparing to name a new chief executive at Pioneer Investments, its asset management division, over the coming days as Dario Frigerio is leaving in January.
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DB deficits at Irish firms hit €5.4bn
[13:30 CET 03-12] IRELAND – The combined defined benefit (DB) pension deficits of Irish quoted companies increased by almost 15% between January and October to €5.4bn, according to research by Attain Consulting.
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Pension age rise criticised as Donner submits Bill
[16:45 CET 03-12] NETHERLANDS - Social affairs minister Piet Hein Donner has submitted his bill to parliament proposing a rise in the state pension (AOW) age from 65 to 67, despite criticism from the government’s most senior advisory body the Raad van State (RvS).
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Tories to review means-testing with personal accounts
[16:50 CET 03-12] UK – Theresa May MP, the shadow secretary of state for work and pensions, has stated the current UK government's failure to address the impact of means-testing on the 2012 pension reforms will be one of the issues it will include in a review of the personal ...
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SNPF appoints Aegon for fixed income
[16:55 CET 03-12] NETHERLANDS – The €1bn Stichting Notarieel Pensioenfonds (SNPF) has awarded Aegon Asset Management a mandate to run part of its fixed income allocation and provide a fixed income overlay for an existing loans portfolio.
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One in four German institutions replaced managers post-crisis
[17:05 CET 03-12] GERMANY – German ratings agency Feri has found some German institutional investors have replaced their asset managers in the wake of the recent financial turbulence.
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UK roundup: Environment Agency, Logica and Vodafone
[17:10 CET 03-12] UK – The Environment Agency is seeking global bond managers for its £1.4bn (€1.5bn) active pension fund.
