All IPE articles in December 2009 (Online) – Page 5
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News
New 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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UK 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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Sweden'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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Dutch 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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Housing 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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News
Russian 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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Four 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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News
SPP 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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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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News
Norwegian 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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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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News
Ten 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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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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NewsBelgium's Amonis signs JP Morgan
BELGIUM - Amonis OFP, the largest pension fund for health care workers in Belgium, has employed JP Morgan Worldwide Securities Services business to provide custody and investor services.
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News
PKA eyes the impact of social networking on pensions
[12:30 CET 21-12] DENMARK – Danish pension provider PKA has been investigating the pros and cons of using internet-based social networking as part of its pensions communications strategy, after discovering its members talk about its services online.
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NewsDelta Lloyd Germany secures pensions consultancy buyout
[13:00 CET 21-12] GERMANY – The German Delta Lloyd group is severing its pension consultancy arm BVE via a management buy-out.
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News
UK roundup: ONS and Public Sector Pensions Commission
[14:00 CET 21-12] UK – The net investment of self-administered pension funds fell by £7.9bn (€8.9bn) in the third quarter of 2009 to total just £2.8bn, the Office of National Statistics has revealed.
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NewsGreece to face pensions reform in April 2010
GREECE - The Greek government is expected to publish a new law designed to tackle its ailing social security system in April 2010.
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News
Dutch Nutreco scheme could impose 3% benefits cut
[16:45 CET 21-12] NETHERLANDS - The €244m pension fund of animal nutrition company Nutreco will cut the pension rights of its participants by 3.1% in 2012, if its five-year recovery plan does work out as anticipated.
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News
Usual suspects top list of nations needing pension reform
[12:00 CET 22-12] EUROPE – Greece, Slovenia and Spain have topped a list compiled by Allianz Global Investors (AGI) of the most unsustainable pensions systems in Europe.
