Investor Strategy – Page 146
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News
Employer reps can conflict pensions board, say trustees
[13:00 CEST 01-05] UK – Finance directors may be able to wear two hats and operate both on behalf a company and as a trustee of a pension scheme providing there are likely to be no significant disagreements over funding, according to trustees.
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NewsHull PCT wants 'comparable' scheme to NHS
[11:30 CEST 01-05] UK – NHS Hull, the area's primary care trust (PCT), is seeking a provider to develop a company pension fund for the City Health Care Partnership (CHCP) that will offer "comparable" benefits to the NHS pension scheme.
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Economic crisis could lengthen deficit recoveries
[16:00 CESt 30-04] UK – Calculations made by Towers Perrin suggest the current levels of corporate bond yields alongside growing defined benefit pension scheme deficits could lengthen funds’ recovery times to as much as 20 years.
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Berkshire halves equity assets under new strategy
[17:10 CEST 29-04] UK – The Royal Borough of Windsor and Maidenhead has finalised the remaining manager appointments for its diversified strategy for the Royal Berkshire Pension Fund, which includes more than halving the fund's equity allocation to 32.5%.
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Berkshire completes first set of mandates
[17:00 CEST 27-04] UK – The Royal Borough of Windsor and Maidenhead has confirmed the appointment of three new investment managers for the £1.05bn (€1.17bn) Royal County of Berkshire Pension Fund, as part of a diversification strategy.
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Allianz rallies against 'safety pension'
[16:40 CEST 27-04] AUSTRIA – Calls to introduce a 'safety pension' with a lower calculation rate in Austria will not completely rule out the need for pension cuts, officials at Allianz have argued.
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News
Henkel creates global fiduciary pensions structure
[16:00 CEST 27-04] GLOBAL - Henkel, the Düsseldorf-based personal and consumer goods multinational, has completed what is thought to be the first global restructuring of pension schemes as a notional pooling structure and appointed three firms to manage its plans globally as custodian, fiduciary and risk manager.
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News
Danes to withdraw €3.3bn from pensions 'for luxuries'
[16:35 CEST 24-04] ATP, the manager of the Danish state-owned SP pension scheme, says approximately DKK25bn (€3.35bn) could be withdrawn from the scheme to be spent on luxuries by the Danish population when the government allows access to the assets later this year.
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News
PNO Media considers cuts as a recovery option
[13:00 CEST 24-04] NETHERLANDS - PNO, the €2.5bn pension fund for the media, has not ruled out the prospect of cutting pension benefits and claims, if additional recovery measures turn out to be insufficient to improve its funding level.
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News
Pension funds turn to specialists and alternatives
[14:30 CEST 23-04] EUROPE – Pension funds are increasingly moving into alternatives but the next growth area could be in the expansion of specialist fixed income mandates and single strategy hedge funds, according to Mercer’s review of pension fund asset allocation.
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Future provision threatened by early pension access - OECD
[12:00 CEST 23-04] GLOBAL – The OECD has warned future pension provision could be undermined by giving early access to pension funds to aid people in “severe economic difficulties” alongside access to national pension reserves.
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News
Norway Global sees value increase in March
[17:15 CEST 20-04] NORWAY – The Norwegian Government Pension Fund – Global increased in value to NOK 2.08trn (€236.4bn) in March, following two consecutive months of decline.
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News
PMA recovery to alter asset allocation
[16:40 CEST 20-04] NETHERLANDS - The €889m pension fund for pharmacies’ staff PMA expects to recover from its reserve shortfall within 15 years by adjusting its yearly indexation and changing its asset allocation strategy.
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News
Property and infra to see investment resurgence - study
[16:30 CEST 20-04] GLOBAL – A study of pension funds and institutional investors suggests funds will increase their listed and private equity holdings this year, but the asset classes of most interest for future years are likely to be property, infrastructure and hedge funds of funds.
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News
Eureko and Poland to enter 'secret' talks
POLAND – Dutch insurer Eureko and the Polish Treasury have signed a new memorandum to bring about a new round of negotiations concerning the insurer's shareholding in pension firm PZU.
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News
Industriens diversifies to tap high-yielding dividends
[16:00 CEST 17-04] DENMARK – Industriens Pension, the €8.3bn pension fund, has diversified its equity holdings a fraction to tap potential opportunities linked to dividend income.
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News
Providers say traditional diversification needs rethink
[17:00 CEST 16-04] EUROPE – Classic balanced or multi-asset mandates have failed to protect pension funds during the current crisis and need to be reconsidered, according to both Allianz Global Investors and German consultancy Heubeck Feri.
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News
ECJ to review Poland's overseas investment limit
POLAND – The European Commission has referred Poland to the European Court of Justice for limiting the amount of money that local pension funds can invest overseas to just 5%, arguing this in turn breaks EC rules concerning the free movement of capital.
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News
Unions agree to AUA contribution cut
[17:15 CEST 09-04] AUSTRIA – Employee representatives of onboard staff at Austrian Airlines Group (AUA) have consented to a 75% cut in company contributions to their pension fund for one year.
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News
Maltese reforms cut 2006 liabilities by €1.6bn
MALTA – Pension reforms introduced in 2006 to raise the state pension age from 61 to 65 between 2014 and 2023 have reduced pension liabilities by €1.6bn, according to figures from the National Statistics Office (NSO).
