All IPE articles in July 2006 (Online) – Page 2
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News
Williams exits Railpen Investments after a year
UK – Griff Williams, senior investment manager at Railpen Investments, has left after just over a year to join Pioneer Investments.
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Expert warns over pensions at German SMEs
GERMANY – Small-to-midsize companies in Germany that finance pension liabilities via book reserves could face insolvency if they do not find an alternative, like creating an external fund, a senior Frankfurt tax official has warned.
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L&G eyes longevity risk products for big schemes
UK – Legal & General says it sees “significant” growth opportunities in new products offering longevity products to larger pension schemes.
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New report calls for European pensions regulator
EUROPE – A new report has called for a European pension regulator among a host of recommendations for the global pensions industry.
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North Yorks tenders TAA (Correct)
UK - The £1.1bn (€1.6bn) North Yorkshire Pension Fund says it has tendered a £44m Global Tactical Asset Allocation mandate following a review of its equity investment strategy (Corrects name of advisor).
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Myners joins Land Securities as chairman
UK – Paul Myners, the former Gartmore chief who wrote an influential report on institutional investment for the government, is to join real estate firm Land Securities as chairman.
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UK regulator fails to collect £50m of levies
UK – The Pensions Regulator says it was only able to collect 71% of the levies due from companies in the most recent financial year – leaving more than £50m (€73.2m) in outstanding payments.
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Law Debenture trustee revenue up 15.4%
UK – Trustee services and investment group Law Debenture has posted a 15.4% increase in trustee services revenue in the first half of 2006.
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ABP in €417m Barcelona hotel deal
REAL ESTATE – Dutch civil service pension fund Stichting Pensioenfonds ABP and partners including an affiliate of the Government of Singapore Investment Corp. have agreed to buy the Hotel Arts Barcelona for €417m.
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SSGA Nordic chief de Greef joins Acadian
EUROPE - Laurent de Greef, head of marketing and business development for Nordic and Southern Europe at State Street Global Advisors, has joined Acadian Asset Management to run its new London office.
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Belgium legislates for pan-European funds
BELGIUM - The Belgian government has passed legislation enabling pan-European pension funds to operate in and from the country.
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Dutch pension fund members get more say
NETHERLANDS – The Dutch government is to amend the current Pension Law proposal to include a legal basis for pension fund members to have a role in the management of funds.
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IASB sets up pensions accounting review
GLOBAL - The International Accounting Standards Board has added post-retirement benefits, including pensions, to its latest research agenda.
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FRR shrinks by €500m as returns turn negative
FRANCE – The Fonds de Reserve pour les Retraites, the French Pensions Reserve Fund, has shrunk by €500m amid negative returns in the most recent quarter.
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New MD at Belgian broadcast pension fund VRT
BELGIUM – Hugo de Vreese, chief executive of the €374m Pension Fund for Statutory Personnel of Flemish public broadcaster VRT, has stepped down to be succeeded by Willy Wijnants.
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Thurgau fund returns 11.5% in 2005
SWITZERLAND – Pensionskasse Thurgau (PKTG), a CHF2.2bn (€1.36bn) pension fund for civil servants in the Swiss canton of Thurgau, said it ended 2005 with a performance of 11.5% on its assets – on par with the average for other Swiss Pensionskassen.
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Russell hires Mercer Global Investments chief
GLOBAL - Russell Investment Group has hired Mercer Global Investment’s US president Barry McInerney as director of client service.
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IPE-QUEST: Dutch fund tenders Euro real estate
NETHERLANDS – A Dutch pension fund has tendered €50m-€60m in pan-European publicly traded European real estate via IPE-Quest.
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Legg Mason axes 410 jobs as clients pull $7bn
US – Legg Mason says it has axed 410 jobs following its acquisition last year of Citigroup Asset Management and the Permal Group.
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HSBC nabs Russell's Glaze for manager research
GLOBAL - HSBC Investments says it has hired Russell Investment Group's Philip Glaze as its global head of manager research, a new role.
