Investor Strategy – Page 142
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News
PIMCO unveils GDP-based debt strategy
[16:00 CEST 11-06] GLOBAL – PIMCO has launched a new concept in fixed income investing which is said to provide an improved measure of credit market beta by shifting away from market cap weightings and adopting a variety of credit vehicles to deliver counter-cyclical rebalancing.
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SSRB consults on future of MP pensions
[16:10 CEST 10-06] UK – The Senior Salaries Review Board (SSRB) has issued a consultation to gather feedback on the future of the Parliamentary Contributory Pension Fund (PCPF), which includes proposals for reducing costs and the possibility of switching to a different pension arrangement.
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Arcandor pensions could face the PSV
[17:20 CEST 09-06] GERMANY – Arcandor, the firm behind German high street retail giant Karstadt, may eventually see its defined benefit pension obligations placed in the hands of Germany’s lifeboat fund for pensions, as the firm today announced it had filed insolvency papers.
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German funds catch up on SRI
[17:15 CEST 09-06] GERMANY – Approximately 50% of German retirement providers are using ethical criteria within their investments, but not all of them are adopted on a wider scale, a study has claimed.
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News
Alternatives as much to blame as banks - Swiss funds
[16:25 CEST 08-06] SWITZERLAND – Swiss pensionskassen believe the main causes of the financial crisis were a lack of appropriate regulation as well as excessive risks taken by the financial sector, among banks as well as managers of alternative asset classes such as private equity and hedge funds.
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Companies are liquid enough to keep pensions - consultant
[17:15 CEST 08-06] AUSTRIA – Consultancy firm Arithmetica has claimed the recent financial crisis is further proof that occupational pensions are better left on the companies’ books than in separate arrangements.
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Fear of DB closures pre-empted tough week for pensions
[17:05 CEST 05-06] UK - Seven out of 10 Britons fear company pension schemes could be closed to all workers because of the tax changes in this year's Budget.
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Capital rules may have forced Barclays' DB decision - consultant
[14:00 CEST 05-06] UK - Barclays' decision to close its UK defined benefit pension scheme may have been influenced by regulatory capital requirements, according to pensions consultancy Punter Southall.
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Union strengthens position on Corus DB closure
[17:25 CEST 04-06] UK – Community, the UK trade union, has claimed that Corus, the Anglo-Dutch steel manufacturer, has withdrawn a deadline for closing its DB scheme to new members.
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News
Longevity swaps – buy now while stocks last?
[17:00 CEST 04-06] UK - DB pension schemes planning to offload longevity risk by purchasing swaps should strongly consider buying them now, according to Mercer.
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Future gov't bond returns to be 'considerably lower' - PIMCO
[16:50 CEST 04-06] GLOBAL – Fixed income specialist Pimco has warned that investors must expect government bonds to deliver poorer returns over the coming years than recently seen, as the state of US government borrowing is likely to frighten investors away when the market is being flooded by paper.
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News
BP closes final salary scheme to new members
[17:15 CEST 03-06] UK - BP is closing its $18.24bn (€12.83bn) final salary pension scheme to new members from 1 April next year.
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Norway seeks partners in climate change risk study
[16:00 CEST 03-06] GLOBAL - Norway's Government Pension Fund has signed up to a project led by Mercer to measure the impact of climate change on strategic asset allocation.
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News
Buyout market set to halve in 2009
[17:00 CEST 02-06] UK – The UK’s pension buyout market is expected to fall to £4bn (€4.6bn) in 2009, in the wake of the financial crisis.
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News
DB schemes still too equity-heavy, claims IIA
[16:50 CEST 02-06] UK – A UK-based pensions consultant has urged defined benefit pension schemes to abandon their traditional investment approach for a risk-based investment approach where assets are more closely matched to scheme liabilities, as officials believe there is still too much emphasis on equities.
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News
APG makes first IMQubator investment
[16:30 CEST 02-06] NETHERLANDS – IMQubator, an innovation project backed by asset manager APG, has selected its first investment target with an allocation of €25m, and bought into a start-up fund combining an absolute return strategy with a new take on sustainability.
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News
Cardano to tackle Express Group’s pension solvency
[15:45 CEST 01-06] UK – The UK office of consulting firm Cardano has been appointed as the ‘solvency manager’ to the trustees of the Express Newspapers 1988 Pension Fund.
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News
Mercer adapts service to aid dynamic de-risking
[15:30 CEST 01-06] UK – Mercer, the consulting firm, has created a spin-off to its implementing consulting service for the UK pensions market, to allow trustees to delegate much of the day-to-day decision-making related to funding levels.
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News
DB woes make Netherlands less competitive - Aon
[16:30 CEST 29-05] EUROPE - Dutch companies have been the hardest hit in Europe by pension fund deficits affecting their business competitiveness, according to Aon.
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AP funds told to review costs and operations
[16:00 CEST 29-05] SWEDEN – The Swedish government has launched a review of the Swedish AP funds' costs management in light of last year’s poor investment performance, which suggests the merger of some operations has not been ruled out.
