All IPE articles in July 2006 (Online) – Page 6
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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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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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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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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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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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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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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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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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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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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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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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Austrian schemes lack transparency – Mercer
AUSTRIA – A new study from international consultant Mercer has found deficits in both the transparency and investment strategy of six Austrian pension funds, known as Pensionskassen.
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Old Mutual Asset Managers appoints CIO
UK – Old Mutual Asset Managers (OMAM) has appointed Eoin Murray, its current head of quantitative strategies, as chief investment officer.
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IBM Germany puts DC plans on ice
GERMANY – Opposition from employee representatives has forced IBM in Germany to temporarily halt plans to transfer half of its employees from a defined benefit pension scheme to a defined contribution one, IPE has learned.
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Swedish regulator voices concern on private equity
SWEDEN - Sweden’s financial supervisory authority, Finasinspektionen (FI), has said it is worried about the rising levels of debt in private equity and venture capital companies and has called for greater transparency in their activities.
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Hymans axed by Cape pension trustees
UK – The pension trustees of global industrial services company Cape PLC have axed Hymans Robertson as scheme consultant, and appointed Buck Consultants instead.
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Portuguese pension returns weaken - Watson Wyatt
PORTUGAL - Portuguese pension funds are expected to return 1.9% for the first six months of this year after generating 3.7% for the first quarter, according to a survey by Watson Wyatt’s Lisbon office.
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IPE-QUEST: Two new searches on system
GLOBAL – A continental European pension fund is looking to invest between $50m and $100m in hedge funds via IPE-QUEST.
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IPE and AP Info Services launch ‘Red Book’
GLOBAL – Business Information provider AP Information Services, in collaboration with long-term partner IPE International Publishers, today launched the seventh edition of ‘International Pension Funds and their Advisers 2006/7’.
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FRR launches search for consultant
FRANCE - The Fonds de Réserve pour les Retraites' - the €28.1bn French Pensions Reserve Fund – plans to hire an external provider of performance measurement services. .
