Investor Strategy – Page 129
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NewsAba dismisses idea for fund-based pensions as counterproductive
GERMANY – The German investment federation (BVI) has unveiled proposals for investment fund-based occupational pensions which could lead to further self-management of the second pillar. But the pension fund association aba has warned it is sceptical of the new idea.
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Brandenburg starts to fund pension
[16:45 CET 11-02] GERMANY – The German province of Brandenburg will start filling its pension fund for civil servants this year.
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AP6 admits trust damaged by Xeratech scandal
[15:30 CET 11-02] SWEDEN - The board of AP6, one of the Swedish national buffer funds, has concluded in a review of its decision-making processes that its appointment of Åsa Rödén as the CEO of Xeratech was inappropriate because she was in a relationship with AP6’s chief executive, Erling Gustafsson.
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Trustees called on to drive pensions innovation and guarantees
[16:20 CET 10-02] EUROPE – A consultancy on UK pensions liabilities has suggested the defined contribution pensions market could learn lessons from the retail investment sector and use its purchasing power to buy members a form of structured guarantee.
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DNB to focus on pension fund 'integrity'
[16:15 CET 09-02] NETHERLANDS- Pensions regulator De Nederlandsche Bank intends to focus its supervision this year on the effect that behaviour and culture has on the integrity of pensions funds and insurers.
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NewsDC trustees want, but worry about, active investing
[15:30 CET 09-02] GLOBAL – Pension funds trustees are likely to want to opt for active management of defined contribution pension schemes in the coming years. Yet they fear applying such a strategy could be a battle, new research on the concept claims.
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NewsUK roundup: PPG Industries, Merseyside, Premier Foods
[17:00 CET 08-02] UK - The PPG Industries pension scheme is adopting a delegated consulting approach, while Merseyside has re-tendered £500m (€571m) of equity portfolios and Premier Foods is considering longevity solutions for its pension scheme.
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Dividend-seeking investors warned against reliance on energy
[16:15 CET 08-2] UK – Dividends paid by BP and Royal Dutch Shell amounted to a quarter of the dividends paid by UK listed companies last year. Yet experts have warned the true picture may not be as good this year as growth is expected to “stagnate” or even fall ...
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NewsSwedish update, Part 2: East Capital, Pensioner tax
[17:05 CET 05-02] SWEDEN - East Capital has temporarily closed one of its funds in the Swedish national defined contribution pension system, known as the PPM.
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PPF requires extra investment skills as assets grow
[16:40 CET 05-02] UK – The National Audit Office (NAO) has commended the Pension Protection Fund (PPF) for retaining a healthy balance sheet during the recession, but warned it needs to take steps to manage its increasing assets efficiently and perhaps adapt its investment processes.
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ING pension sets aside 3% to cover longevity
[16:00 CET 05-02] NETHERLANDS - The €10bn pension fund of banking giant ING saw its cover ratio rise by 11 percentage points to 118% in 2009, after making additional provisions for longevity.
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Finnish pension funds return 19% on equities growth
[15:45 CET 05-02] FINLAND - Finnish occupational pension funds returned an average 19% on investments in 2009 thanks to the equity rally, and clawed back the 14% loss suffered in 2008.
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ExxonMobil’s pension cover jumps to 168%
[16:50 CET 04-02] NETHERLANDS - The €1.8bn pension fund Protector, of energy giant ExxonMobil, saw its cover ratio leap from 122.4% in 2008 to almost 168% in 2009, according to preliminary figures.
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Swiss Migros aims for more diversification
[15:45 CET 04-02] SWITZERLAND – The CHF15bn (€10.2bn) Pensionskasse of the Swiss retailer Migros is looking to further diversify its equity portfolio internationally after a 10.9% performance last year.
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NewsUK roundup: C&W, Hertfordshire, Institute of Directors
[15:00 CET 04-02] UK – Cable & Wireless have agreed a pension settlement with the trustees of its UK defined benefit scheme, which is to be split as part of its demerger, while Hertfordshire County Council is seeking a pensions administrator and the Institute of Directors is calling for the ...
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Property bounce aides Belgian pension funds
BELGIUM – A study of 90 active pension funds by consultancy Mercer suggests Belgian pension funds returned a median of 18.5% on investments by the end of 2009, thanks to a rally in equities and real estate.
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Ireland roundup: IAPF, IAA and Fáilte Ireland
[17:00 CET 02-02] IRELAND – The Irish Association of Pension Funds (IAPF) has issued guidance for trustees on how to comply with the organisation's new investment guidelines for defined contribution (DC) schemes.
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NewsSlovakia faces EC action over non-euro pension stance
SLOVAKIA – The European Commission has warned Slovakia it must remove restrictions on statutory second pillar pension funds which prevent schemes from investing in non-euro area assets.
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Three in four Dutch pension plans adopt SRI
[15:15 CET 02-02] NETHERLANDS - The number of Dutch pension funds adopting a socially-responsible investment (SRI) policy has more than doubled since 2006 to 73% of all schemes, the combined pensions organisations have claimed.
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Global pension assets reach 70% of GDP
[17:00 CET 01-02] GLOBAL - Pension fund assets amounted to 70% of the average global GDP last year, up from 58% in 2008, research from Towers Watson suggests.
