All IPE articles in July 2006 (Online) – Page 4
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Paternoster names Turner non-exec director
UK – Adair Turner, former chair of the Pensions Commission, has been appointed non-executive director of Mark Wood’s UK defined benefit pension buyout firm Paternoster.
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EU schemes to reclaim dividend tax
EUROPE/NETHERLANDS - Pension funds based in other EU member states will also be allowed to reclaim dividend tax, the Dutch Treasury has announced.
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Timberland asset class an advantage for investors – Watson Wyatt
GLOBAL - A new report by Watson Wyatt highlights the potential of timberland as an asset class for institutional investors. Timberlands are forested areas that are used to harvest wood.
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PGGM, ABP, PME take equities hit
NETHERLANDS – The three biggest Dutch pension funds have been hit by negative equity returns in the second quarter of 2006, which contributed to the funds’ overall negative returns for Q2.
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BBC workers to vote on strike action
UK – Some 10,000 BBC employees will vote next week on whether to take strike action against the broadcasting giant over a pensions and salary dispute.
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Italian hedge fund industry lacks special skills – AIMA
ITALY – The absence of specialist on-shore knowledge in Italy’s hedge fund industry has dampened down the market for competition, according to a report by global hedge fund trade association AIMA and international law firm Simmons and Simmons.
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DeAM names equity and bond chiefs
GERMANY – Deutsche Asset Management has appointed Klaus Kaldemorgen and Heinz Fesser to the new positions of global head of equities and fixed income, respectively.
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Swedish Minister warns of transparency law
SWEDEN - Sven-Erik Österberg, the Swedish Minister for Local Government and Financial Markets, has warned that he may introduce a new law to compel private equity and venture capital companies to disclose information about their borrowing.
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Northern Trust names European outsourcing chief
EUROPE – David Copley, former Mellon UK investment operations outsourcing and fund accounting chief, has joined Northern Trust as head of investment operations outsourcing for Europe.
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Dutch insurance premiums dwarf pension premiums
NETHERLANDS - Premiums paid to Dutch insurance companies were three times as high as premiums paid to Dutch pension funds at the beginning of 2006 (Corrects figures in 2nd paragraph).
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New UK pension buyout firm gets FSA OK
UK - Synesis Life, one of several new entrants into the pension annuity buyout market, says it is likely to get approval from the Financial Services Authority.
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Italian postal fund tenders €100m
ITALY - Fondoposte, the complementary pension fund for Italian postal workers, is looking for managers to manage €100m of assets.
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Equity, real estate boost Dutch medics
NETHERLANDS – Equity and real estate were the main drivers behind above-benchmark returns at the €4.7bn scheme for Dutch medical consultants, Stichting Pensioenfonds Medisch Specialisten.
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Austria’s VBV returns 9.2%
AUSTRIA – VBV, Austria’s biggest multi-employer pension fund with €4bn in assets, has reported a return of 9.2% for 2005 – above the 7.7% for 2004 but below the 11% average for other schemes, known as Pensionskassen.
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Blue Sky appoints commercial chief
NETHERLANDS - Blue Sky Group, the Dutch pension fund manager which runs the KLM pension fund, has appointed Francis van Bergenhenegouwen as head of commercial affairs.
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UK schemes buying more long-dated gilts
UK – UK pension funds raised their purchases of longer dated UK government bonds to more than £10bn (€14.5bn) in the first quarter, official statistics show.
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European Court in preliminary ruling on UK case
EUROPE – The UK government is not liable for the pensions of the former workers of failed industrial group Allied Steel and Wire, according to a preliminary judgment at the European Court of Justice.
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PGGM names head of responsible investments
NETHERLANDS - Marcel Jeucken has been appointed head of responsible investments at PGGM, the €74bn scheme announced.
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HSBC's actuarial arm nabs Hyman's Justham
UK - HSBC Actuaries and Consultants has hired Hymans Robertson's Gordon Justham as the new head of its Birmingham office.
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New commercial director at MN Services
NETHERLANDS - Bernard van de Ven has taken over from Pieter Kiveron as commercial director at Dutch pension servicing company MN Services.
