All IPE articles in July 2004 (Online) – Page 7
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DWP: consultants unchallenged post-Myners
UK – Trustees of occupational pension schemes in the UK are finding “barriers” to challenging their relationships with investment consultants, says a new government report on the uptake of the Myners Principles.
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MEPs say directive could save firms up to E40m
EUROPE – The European Parliament’s economic affairs committee says multinational companies could save up to 40 million euros by pooling pension assets under the European occupational pensions directive.
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Austrian pension rate move “unconstitutional”
AUSTRIA - The chamber for employees' welfare, the AK, has demanded the government’s reduction of the minimum interest rate for pension funds to be withdrawn, saying it is an “unconstitutional attack to personal property”.
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OPRA CEO Hobman to head new UK regulator
UK – The current chief executive of the Occupational Pensions Regulatory Authority, Tony Hobman, has been named as CEO of its successor body the Pensions Regulator.
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State Street names UK pension servicing head
UK - State Street Corp. has named Peter Baker to head of its London-based pension and collective investment servicing business.
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UK says schemes must address own problems
UK – Pensions minister Malcolm Wicks has said that companies must address problems with their pension arrangements themselves.
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FTSE says investable hedge index goes live
EUROPE – Index firm FTSE Group says its investable hedge fund index has now gone live.
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UBS’ European ETF sales head Egger to leave
SWITZERLAND - Beat Egger, an executive director at UBS Global Asset Management and European sales head for exchange traded funds, is to leave the company in October.
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Germans still wary of pensions, says fund body
GERMANY - Awareness of pension funds in Germany is not “pronounced” among average investors, a report from the German investment fund industry association, BVI, reveals.
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Irish reserve fund “yellow cards” two managers
IRELAND - The 10.1 billion-euro National Pensions Reserve Fund, says it has shown the “yellow card” to two of its of 18 asset managers.
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EU’s Barroso says pensions more than safety net
EUROPE - José Manuel Barroso, the new president of the European Commission, says social protection systems should be more than “just a safety net” as population ageing looms.
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Watson Wyatt sees final salary ‘hard core’
UK – Consulting firm Watson Wyatt says there will be a ‘hard core’ of UK companies sticking with final salary pension provision, for organisational and competitive reasons.
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Mineworkers’ scheme seeks skilled trustee
UK – The 10.4 billion-pound (15.6 billion-euro) Mineworkers’ Pension Scheme is seeking to appoint a skilled trustee who will be able to debate investment strategy and assess consultant advice.
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BAT taps SWIP for bonds
UK - The British American Tobacco UK Pension Fund has selected Scottish Widows Investment Partnership to manage a 165 million-pound (248.8 million-euro) mixed bond mandate.
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Muntons appoints HSBC for closed DB scheme
UK - HSBC Actuaries and Consultants Limited has been appointed by the 20 million-pound (30.1 million-euro) Muntons Retirement Benefits Scheme to provide its closed defined benefits scheme with consultancy and administration services.
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German standards board differs on IAS19 proposal
GERMANY – The German accounting standards board says it has “differing views” with proposed amendments to the International Accounting Standards Board’s pension accounting standard IAS19.
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ABN Amro targets pension funds with MiniSwaps
EUROPE – ABN Amro has launched a new interest-rate swaps product – MiniSwaps - aimed at institutions such as pension funds and insurers as well as corporates and fund managers.
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ABN Amro Dutch institutional exec joins F&C
NETHERLANDS - Rob Kamphuis, account manager for institutional clients at ABN Amro in the Netherlands, has left to join F&C Netherlands.
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Commission raids Euronext and other firms
EUROPE – The European Commission has raided pan-European exchange Euronext and other financial services companies as part of an antitrust probe.
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Dutch data reveals shift away from final salary
NETHERLANDS – Dutch pension statistics from the pension regulator PVK are now available online – which has revealed the extent of the shift away from final salary arrangements.
