Investor Strategy – Page 156
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NewsShell refines UK pension terms
[17:25 CET 30-10] UK – The £12.1bn (€15bn) Shell Contributory Pension Fund is revising the terms of its defined benefit scheme from next year which requires new members to retire later and receive a lower aggregate of their salary.
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UK fiduciary growth to hit £300bn
[14:45 CET 29-10] UK – Asset managers are predicting the recent turbulence in the financial markets could spark a growth of fiduciary management worth £300bn in UK pension fund assets by 2012.
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Pension funds knock BGI off the top
[17:10 CET 28-10] NETHERLANDS – A study of Dutch pension funds has unsurprisingly revealed APG, PPGM and Mn Services have removed Barclays Global Investors as the largest asset manager to Dutch pension funds, but evidence suggests foreign players are increasing their presence in the fiduciary market.
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Turkish pensions to see first of three new entrants
[16:55 CET 27-10] TURKEY - Ray Sigorta, a pensions joint venture from Vienna Insurance Group and Dogan Holding in Turkey, is planning to enter the local private pension funds sector by June 2009, while two others firms are understood to looking at entering too.
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Pension schemes plea for global markets 'pause' (amended)
[16:45 CET 27-10] DENMARK - Danish insurance companies are now calling for a coordinated global stock market ‘pause’ from the continuous fall in equity markets as well as a rescue package to support pension schemes worldwide.
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NewsNorway to extend emerging markets benchmark
[16:50 CEST 24-10] NORWAY – The NOK1.99trn (€222bn) Norwegian Government Pension Fund – Global has confirmed it is considering further investments in India as part of its strategy to invest in emerging markets.
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Norfolk and Staffs start manager search
[16:30 CEST 24-10] UK – Staffordshire and Norfolk County Councils have initiated searches for equity and bond managers for their local government pension schemes (LGPS).
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NewsAPG pushes forward to meet infrastructure target
[14:00 CEST 22-10] NETHERLANDS – APG, the asset manager of the €193bn ABP pension fund, is pushing forward to meet its infrastructure target of €4.5bn for 2009, despite drying up opportunities in the asset class.
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€7.8bn doctors fund looks for opportunities
[16:50 CEST 20-10] GERMANY – Ärtzeversorgung Westfalen-Lippe (ÄVWL), a €7.8bn regional pension fund for doctors, has withdrawn approximately half of its Spezialfonds investments as it now wants to invest in 'opportunities'.
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LGPS investment regs need to be 'simplified'
[16:40 CEST 20-10] UK – The Chartered Institute of Public Finance and Accountancy (CIPFA) intends to recommend the government simplify and modernise the investment regulations for Local Government Pension Scheme (LGPS).
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Hymans to advise lighthouse authorities
[16:30 CEST 20-10] UK – The General Lighthouse Authorities (GLAs) for the United Kingdom and Ireland have appointed Hymans Robertson to provide advice on a range of pension fund issues.
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Generali bundles German schemes
[16:55 CEST 16-10] GERMANY – Pensor, the €128m pension fund of German insurer Volksfürsorge, will merge its “core competencies” with those of parent insurer Generali’s German Pensionsfonds.
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OPF seeks collective companies' funds
[15:40 CEST 15-10] NETHERLANDS - The Foundation of Company Pension Funds (OPF) has called for amendments to be made to the Pension Act to allow individual company pension schemes to work together in a companies’ pension fund.
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DC lifestyle funds show promise in market downturn
[17:15 CEST 14-10] GLOBAL - Lifestyle defined contribution pension funds have prove their worth in the current economic turmoil and may be a useful counterbalance to compulsory annuitisation, Watson Wyatt has claimed.
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Swiss funds stick to allocation
[17:10 CEST 13-10] SWITZERLAND – Swiss funds are in general content with their long-term asset allocation and are only making tactical adjustments, according to consultancy Lusenti.
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APG Group signs cross-border deal with PensPlan
[16:55 CEST 13-10] NETHERLANDS - APG Group has formalised a deal with the €1.6bn Italian pension administrator PensPlan which will initially see APG manage €100m in assets for the Italian provider.
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Energy watchdog seeks multi-employer fund membership
[17:05 CEST 10-10] AUSTRIA – E-Control, a Vienna-based independent authority related to the energy markets, is looking to join a multi-employer pension fund for the local government staff.
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ATP pumps money into Danish banks
[16:45 CEST 10-10] DENMARK – ATP, the largest pension scheme in Denmark, is lending billions of Danish kroner to Danish bank– described as deposits because of a government guarantee they carry - in a bid to help shore them up during the financial crisis.
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Ilmarinen to increase its alternatives focus
[15:00 CEST 09-10] FINLAND – Ilmarinen Mutual, Finland’s second-largest pension provider, is planning to increasing its private equity and property holdings in the coming years as well as diversify its equity holdings, IPE has learned.
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Iceland’s pension funds urged to thaw banking pressure
[17:00 CEST 06-10] ICELAND – The Icelandic Pension Funds Association (IPFA) has agreed to encourage its members to sell up to 50% of their foreign securities and injecting the capital back into the Icelandic currency market.
