Investor Strategy – Page 143
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News
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[17:25 CEST 04-06] UK – Community, the UK trade union, has claimed that Corus, the Anglo-Dutch steel manufacturer, has withdrawn a deadline for closing its DB scheme to new members.
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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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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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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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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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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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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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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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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.
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'Failed' industry-wide schemes could lose members
[16:20 CEST 27-05] NETHERLANDS - Almost one in four Dutch pension funds with mandatory membership did not pass a key investment performance test between 2004 to 2008 and could potentially lose sponsoring employers as a result, according to VB, the Dutch association of industry-wide schemes.
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FRR seeks real estate and transition managers
[17:00 CEST 27-05] FRANCE – The Fonds de Réserve pour les Retraites (FRR), the French pension reserve fund, has launched a search for four investment managers to run transition and real estate portfolios for the €26bn fund.
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NewsIIGCC calls for more 'effective' carbon markets
[17:10 CEST 22-05] EUROPE – The Institutional Investors Group on Climate Change (IIGCC) has proposed a number of measures to boost the effectiveness of carbon markets and raise money from the private sector to fund climate change mitigation.
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NewsInvestment triggers 'could derisk pensions'
[17:10 CEST 22-05] GLOBAL – Applying some form of ‘trigger point’ at which investment returns could be collected might be a way of derisking pension schemes and removing the emotional draw some trustees attach to certain assets, suggests consulting firm Lane, Clark & Peacock.
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Country-specific risk changes could lower funding - LCP
[17:00 CEST 22-05] GLOBAL – Companies with pension arrangements in several countries have been advised by Lane, Clark & Peacock to consider potential changes to funding levels and terms at local schemes based on the overall benefit it will bring to the company, and look at shifting from one country to another if it will lower the overall risk pressures.
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News
Public sector reform to boost Romanian pensions
ROMANIA – Second pillar pensions funds in Romania could see a significant boost to membership in the coming years, according to pension experts, as the government is introducing reforms to cut its budget deficit which include reducing the non-contributory pensions for some public sector workers.
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News
AP6 acquires bankrupt iron foundry
[17:00 CEST 21-05] SWEDEN – Sjätte AP-fonden (AP6) has confirmed it has acquired Arvika Gjuteri, an iron foundry, after the firm was declared bankrupt last week.
