All IPE articles in December 2009 (Online) – Page 2
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NewsPPF keeps cut in levy cap despite industry concerns
[17:00 CET 18-12] UK – The Pension Protection Fund (PPF) has confirmed it is "sticking" to plans for a risk-based levy cap of 0.5% for the 2010/11 risk-based levy, despite objections from a number of respondents.
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NewsTen confirmed to join Swiss Ascoop fund
[16:50 CET 18-12] SWITZERLAND – The Ascoop spin-off fund to be created next year will be named Symova and will initially see 10 companies join it.
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NewsFRR completes third set of bond appointments
[16:45 CET 18-12] FRANCE - Fonds de Reserve pour les Retraites (FRR), the €31.9bn French national pension reserve fund, has completed its recent renewal of some fixed income mandates with the appointment of five managers to run US bond mandates.
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NewsNorwegian pension funds declined 4.4% in 2008
[16:40 CET 18-12] NORWAY – Norwegian pension funds had a combined deficit of NOK4.7bn (€560m) in 2008, according to latest figures from Statistics Norway.
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NewsDutch railways scheme keeps recovery on track
[16:15 CET 18-12] NETHERLANDS - The €10.3bn railways scheme SPF will grant its participants full indexation of 2.07% from the beginning next year, but the metal workers’ scheme PMT has failed to recover enough to consider it.
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NewsSPP to withdraw from Sweden's ITP system
[15:00 CET 18-12] SWEDEN - SPP, one of the largest pension insurers in Sweden, will not be eligible to deliver pension investments via the country’s ITP pensions administration system next year.
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NewsFour in 10 Swiss pensions changed asset allocation - Hewitt
[14:30 CET 18-12] SWITZERLAND – Most Swiss underfunded pension schemes chose to cut or abolish indexation above the legal minimum but only 40% changed their asset allocation as a result of the crisis, Hewitt Switzerland found in a survey.
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NewsRussian wealth fund timed equity move to reap market turn
[14:00 CET 18-12] RUSSIA - Russia’s sovereign National Wealth Fund has benefited to the tune of billions following a move earlier this year - to invest in domestic equities - that has been described by analysts as the “trade of the decade”.
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NewsHousing fund SPW returned 8% in Q3
[16:55 CET 17-12] NETHERLANDS - The €4.8bn pension fund for housing corporation SPW saw its cover ratio rise by 6.5 percentage points to 103.4% in the third quarter of this year, thanks to an 8% return on investments.
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NewsDutch charity adopts fiduciary management
[16:50 CET 17-12] NETHERLANDS – Prins Bernhand Cultuurfonds, the €120m Dutch charitable foundation, has appointed SEI as a fiduciary manager for 90% of its assets.
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NewsSweden's AP6 rocked by corporate scandal
[16:45 CET 17-12] SWEDEN - AP6, one of the Swedish national pension buffer funds, has been rocked by a scandal involving a company, Xeratech, held in its portfolio. AP6 has accused the two founding brothers of “plundering” the company and is now also considering taking legal action against the firm’s ...
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NewsUK roundup: Tyne & Wear, Shropshire, Kent, Xafinity, FSA, PMI
[16:30 CET 17-12] UK – Several UK local authorities have reviewed their investment and administration mandates while there have been developments elsewhere in relation to UK pensions regulation.
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NewsNew chief at Austria's VVP considers equity risk hedge
[16:00 CET 17-12] AUSTRIA – The Victoria-Volksbanken Pensionskasse (VVP) may hedge parts of its portfolio in 2010, its new head Axel Hartleib, has told IPE.
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NewsDutch trade union heads flurry of new entrants into PfZW
[15:30 CET 17-12] NETHERLANDS - The €450m pension fund of trade union FNV has signed a deal to transfer its members and assets into the PfZW industry-wide healthcare scheme, and others are expected to follow in the near future.
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NewsEtera's managing director resigns
[15:15 CET 17-12] FINLAND - Kalevi Hemilä, managing director of Finnish pension insurance company Etera, has resigned and will be leaving at the end of the year for health reasons.
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NewsOwnership rights hinder Russian pensions reform
[17:05 CET 16-12] RUSSIA - The Russian legal system is hindering the progress of the country’s pensions reforms, according to a minister from the Department for National Health Services and Social Welfare.
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NewsDNB condemns 'insufficient' pensions risk management
[16:55 CET 16-12] NETHERLANDS – Dutch pensions regulator De Nederlandsche Bank and the pension fund industry bodies are to overhaul pensions risk management, as a DNB study found several pension funds have underestimated investment risks and are paying insufficient attention to governance.
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NewsPGGM unveils new executive structure
[16:35 CET 16-12] NETHERLANDS – PGGM, the asset manager created out of the PfZW pension fund for Dutch healthcare workers, has reworked its management structure to focus on core activities.
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NewsCadbury completes £500m buy-in with PIC
[16:15 CET 16-12] UK - Trustees of the £2bn (€2.2bn) Cadbury Pension Fund have agreed a buy-in for around £500m of their pensioner liabilities with Pension Insurance Corporation (PIC).
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NewsFRR to offset its own carbon footprint
[16:10 CET 16-12] FRANCE – Officials at the French national pension reserve fund, FRR, are moving to limit the impact of the body’s own greenhouse gas (GHG) emissions, by investing in a Latin American ESG project generating green energy.
