Investor Strategy – Page 137
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NewsFRR report mulls environment in investment policy
[16:20 CEST 02-10] FRANCE – Fonds de Reserve pour les Retraites, the €27bn French national pension fund, has published a working document on investment policy which reveals just how complex it is for pension funds to consider whether environmental issues should be factored into investments.
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LPFA considers 'unitised' local government pensions
[12:45 CEST 02-10] UK – The London Pension Fund Authority, which manages €3bn in assets for local authority pension plans, is investigating the possibility of creating ‘unitised’ pension plans for local government schemes which essentially ringfence an employer’s asset allocation strategy but create economies of scale in the asset management.
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UK employers may avoid certifying 'borderline' DC
[16:40 CEST 01-10] UK – Employers operating defined contribution (DC) schemes on the "borderline" of meeting the quality requirements for the 2012 reforms may be less likely to use self-certification because of cost issues, Hymans Robertson has suggested.
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Babcock edges closer to completing longevity deals
[16:10 CEST 01-10] UK – Babcock International has completed a second tranche of longevity swap arrangements with Credit Suisse, but this time relating to the Rosyth Royal Dockyard Pension Scheme.
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Mercer to take on Babcock-Borsig pensionskasse
[16:10 CEST 01-10] GERMANY - The pensionskasse of insolvent energy industry service provider Babcock-Borsig will in future be administered by Mercer instead of Swiss Life.
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North Yorks pension pulls out of pressured GTAA
[16:00 CEST 01-10] UK – The £1.04bn (€1.14bn) North Yorkshire Pension Fund has formally withdrawn its investment in a Global Tactical Asset Allocation (GTAA) strategy run by UBS, and from the asset class as a whole.
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Profond changes fee-structure post-crisis
[16:10 CEST 30-09] SWITZERLAND – The CHF2.2bn (€1.46bn) Swiss multi-employer pensionskasse Profond has changed the fee structure for its portfolio managers, in a bid to reduce costs.
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Swedish government to overhaul AP7
[16:00 CEST 30-09] SWEDEN - The Swedish government is proposing wide-ranging changes to the country’s premium-based pension system (PPM) and AP7 - responsible for managing the premium choice and default funds - which will see both scrapped and transformed into a single new type of fund, in a bid to ...
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Reinsured Dutch schemes given leeway on recovery plans
[16:00 CEST 30-09] NETHERLANDS - Reinsured pension schemes with a shortfall caused by credit risk at a reinsurer are not required to submit a recovery plan before 1 April 2010, the pension regulator De Nederlandsche Bank has announced.
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PFA loses investment head in strategy shift
[15:00 CEST 30-09] DENMARK - Henrik Franck has made a sudden exit from his job as investment director at Denmark’s DKK227bn (€30.4bn) PFA Pension, amid sweeping changes at the pension supplier which have halved the investment team’s headcount.
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ITP calls in fund experts to assist tender review
[13:30 CEST 30-09] SWEDEN – Officials responsible for ITP, the Swedish white collar workers defined contribution pension scheme, are in the process of reviewing the entire operation and seeking advice from fund-related businesses on how to go about it, as the existing insurance wrapper contracts are due to expire next ...
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BAA seeks actuarial advice
[16:50 CEST 29-09] UK – BAA Airports Limited is seeking an actuarial consultant to provide advice to both its defined benefit (DB) and defined contribution (DC) schemes.
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Danish pensions solvency package could be extended
[16:15 CEST 29-09] DENMARK - The pensions solvency rescue package agreed last autumn between the Ministry of Economic and Business Affairs and the Danish Insurance Association could now be extended beyond the end of this year, and the two parties are now in talks.
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Comic book hero to draw Dutch pensions interest
[16:30 CEST 25-09] NETHERLANDS – SPF Beheer, the pension administrator to the Dutch railway and public transport workers’ pension schemes, has come up a novel way of communicating pensions with younger members by explaining key information via a comic strip.
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Buyouts not for 84% of UK pension schemes - Punter Southall
[17:05 CEST 24-09] UK - Pension funds would be better off running their liabilities themselves than choosing buyout insurance in 84% of cases.
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Bulgaria may offer multifunds in 2010
[16:35 CEST 24-09] BULGARIA – Multi-funds, or investment portfolios with different risk profiles, could be introduced into the third pillar pensions regime next year if the government adopts a draft law by the end of 2009, the Bulgarian Association of Supplementary Pension Security Companies (BASPSC) has revealed.
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Harrow overhauls fund manager line-up
[17:05 CEST 23-09] UK – The London Borough of Harrow has appointed four new managers to run the equity portfolio of its £300m (€333m) local government pension scheme, while its bond portfolio is being consolidated under one manager.
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High-earner pension planning falls under corporate spotlight
[16:30 CEST 23-09] UK – Towers Perrin has revealed FURBS-style pension products are seeing a resurgence of interest, as companies with employees who earn more than £150,000 (€) a year are looking to assist staff who may have to pay pensions tax upfront from next year, when a 50% tax ...
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NewsBerkshire plans to hedge longevity
[17:20 CEST 22-09] UK – Berkshire Pension Fund has confirmed it is in the process of completing a deal to hedge the longevity risk for its pensioners.
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NewsGenerali finalises AMB Pensor merger
[16:05 CEST 22-09] GERMANY – The German branch of insurer Generali has completed the merger of its two pensionsfonds AMB and Pensor, to produce a €250m fund.
