All IPE articles in December 2010 (Online) – Page 6
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News
Notaries scheme to cut pensions
NETHERLANDS – The €721m pension fund for notaries' employees will decrease benefits and accrued pension rights by 2.1% on 1 January 2011.
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News
UK regulator to clamp down on enforced transfers
UK – The chairman of the UK Pensions Regulator, David Norgrove, is set to clamp down on companies that encourage workers to switch from defined benefit (DB) to defined contribution (DC) schemes.
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News
PPF rejection of pension scheme reveals 'serious flaw' in UK legislation
UK – A UK pension scheme has been refused entry to the Pension Protection Fund (PPF), revealing what one industry figure called a "serious flaw" in pensions law.
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News
APG, ATP, Barclays Retirement Fund weigh in on hedge fund strategies
EUROPE – What is your hedge fund strategy? Dutch asset manager APG, Denmark's ATP and the Barclays UK Retirement Fund share their views.
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News
Swedish roundup: AP7, AP6, KVD Kvarndammen, Peter Norman, Handelsbanken
SWEDEN – Richard Gröttheim is taking over as chief executive at AP7 following the departure of Peter Norman, who joined the government as financial markets minister.
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News
Portugal Telecom agrees pension transfer to state treasury
PORTUGAL – Portugal Telecom has agreed a deal that will see almost €3bn in pension assets transferred to the country’s treasury.
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News
Friday people roundup
GLOBAL – Mercer, AXA Rosenberg, Varma, EFT Securities, Corio, SEB Asset Management
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News
Pension schemes for Hero complete Netherlands' first buy-in deal
NETHERLANDS – The pension schemes for food manufacturer Hero have completed the Netherlands' first pension buy-in, leading to calls that the method could be used as a stepping stone to completing a buy-out and liquidating pension schemes.
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News
Mandate roundup: Avon, Ealing, ING IM, ONVZ, BNP Paribas, ATOS Origin
EUROPE – The £1.8bn (€1.9bn) Avon pension fund is looking to appoint a manager to an active currency hedging mandate to hedge against the impact of currency fluctuations for £500m of its equity investments.
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News
Baltic roundup: Lithuania, Latvia, Estonia
EUROPE – Lithuania's pension fund association has sued the government in the constitutional court after lawmakers reduced contributions to the private pension systems to offset budget deficits.
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News
USS adds Savoy House to burgeoning UK portfolio
UK – The Universities Superannuation Scheme (USS) has resumed its acquisition programme in the UK with the purchase of Savoy Court in the West End of London for £45.5m (€53.9m).
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News
GI Partners, RREEF to take over CalPERS logistics
GLOBAL – GI Partners and RREEF are to take over the management of The California Public Employees' Retirement System's (CalPERS) $2.5bn (€1.9bn) global industrial real estate portfolio from incumbent manager LaSalle Investment Management.
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News
Van Popta appointed chairman of Dutch metal scheme PMT
NETHERLANDS – PMT, the €37bn pension fund for metalworking and mechanical engineering, has appointed Benne van Popta as its new employers' chairman.
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News
Pension deficits for FTSE Global 100 companies jump to €160bn
GLOBAL – Companies in the FTSE Global 100 have seen their pension deficits rise to €160bn, an increase of 7%, according to a survey by LCP.
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Analysis
News analysis: Dutch pension system stands at crossroads
NETHERLANDS – What nobody had thought possible for the much-praised Dutch pension system, until recently, has become reality. With several pension funds announcing benefits cuts, the sector – dominated by its capital-funded mandatory pension schemes – has just entered a new phase.
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News
UK roundup: Northumbrian Water, Thames Water, Capita Hartshead, Morris Review
UK – Northumbrian Water has announced a £36m (€41m) reduction in its pension deficit after applying the consumer price index (CPI) as a measure in its latest half-yearly results.
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News
Wednesday people roundup
GLOBAL – AMPS, EIOPA, FSE Electriciens, Fundo, PensPlan, Pioneer Investments, PwC
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News
Swedish giant AP1 applies stringent conditions in global custodian search
EUROPE – Sweden's Första AP-fonden (AP1) is in the process of reviewing its custody arrangements and will set more stringent operating conditions for all applicants.