All IPE articles in July 2006 (Online) – Page 5
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News
UK trustee code goes to Parliament
UK - The Pensions Regulator's code of practice on member-nominated trustees has been laid before Parliament.
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Dutch labour foundation rejects portability plan
NETHERLANDS - The European Commission’s proposed directive on pensions portability must be rejected because it will have a negative impact on Dutch pensions, the Labour Foundation, or Star, says.
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DB schemes amplify market volatility – BOE study
UK – Defined benefit pension funds amplify shocks to companies’ shares and affect stock market volatility, according to a Bank of England study.
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Big Dutch funds increase equity trading – paper
NETHERLANDS - The largest Dutch pension funds are becoming more active as equity traders, keeping shares for increasingly shorter periods in their portfolios, a survey has shown.
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Third of Irish DB schemes fail funding standard
IRELAND – Almost a third of defined benefit pension funds in Ireland failed to meet the funding standard in 2005, the Pensions Board regulator said.
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Strathclyde the latest to go unconstrained
UK – The £8.8bn (€12.8bn) Strathclyde Pension Fund has become the latest UK local authority pension fund to “go unconstrained” – seeking investment managers to run assets not benchmarked to an index.
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UK national ‘multi-manager’ pension scheme seen
UK – The proposed National Pensions Savings Scheme could in effect be a giant ‘multi-manager’ fund, the Investment Management Association says.
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DekaBank keeps mum over revenue, staff reports
GERMANY – DekaBank, the asset manager tied to Germany’s state-owned savings banks (Sparkassen), has declined comment on press reports that 21 managing directors have been demoted and that it will miss its revenue and profit targets for this year.
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UK pension deficits dragging on investment - CBI
UK – The UK’s growing corporate pension contributions are hitting firms’ profits and investment, according to a survey from the Confederation of British Industry.
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McCreevy to address IPE Awards
EUROPE – Charlie McCreevy, the European Commission’s Internal Market and Services Commissioner, is to address this year’s IPE Awards in Paris on November 30.
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Environment Agency hands €72m to SWIP
UK – The Environment Agency has handed a £50m (€72.6m) “environmentally-friendly” mandate to Scottish Widows Investment Partnership.
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Maher steps down as Pensions Board CEO
IRELAND – Anne Maher is due to step down resign as chief executive of Irish pensions regulator the Pensions Board after 10 years in the role.
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Germany: Riester urges pension for self-employed
GERMANY – Former labour minister Walter Riester has urged the government to make self-employed workers eligible for the private pension product that bears his name.
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London pension funds shun Olympic Village plan
REAL ESTATE - Cash to spend and an eye for the long term make pension funds the ideal investment partners to build the UK’s 2012 Olympic village, according to its real estate advisers – yet pension funds approached by IPE Real Estate indicated little or no interest.
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Lincolnshire scheme silent on BETonSPORTS
GLOBAL – At least one UK pension fund - Lincolnshire - may have lost out in the decline in share prices of online gaming companies following the detention of BETonSPORTS chief executive David Carruthers.
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Kosovo fund names two asset managers
KOSOVO – The Kosovo Pensions Savings Trust (KPST) has appointed Schroders and ECM as fixed income managers.
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Pension institute director O'Connell steps down
UK - Alison O'Connell is to step down as director of the Pensions Policy Institute (PPI), the research organisation announced today.
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GSAM to get a third of PPF levy funds
UK – The Pension Protection Fund, the government’s pensions lifeboat, will assign roughly a third of its £140m (€205m) in initial levy funds to Goldman Sachs Asset Management, according to the PPF’s Business Plan 2006/2007.
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MLIM slows BlackRock momentum amid outflows
GLOBAL – BlackRock says its planned merger with Merrill Lynch Investment Managers has resulted in a “temporary” slowdown in its momentum.
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Continental the latest to set up pension CTA
GERMANY – Auto component maker Continental has become the latest member of the Dax-30 equity index to create an external fund known contractual trust arrangement (CTA) to finance pension liabilities.
