All IPE articles in July 2007 (Online)
View all stories from this issue.
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News
Austrian civil servants to get Pensionskasse
AUSTRIA – The government has endorsed a proposal by the court of auditors to set up a Pensionskasse for up to 100,000 federal civil servants.
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New hedge fund added to ITP offering
SWEDEN – Lansforsakringar, one of the eight insurance companies selected to manage Sweden’s new white collar pension scheme ITP, has added a new hedge fund to its offering.
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Lawsuit overshadows arrival of Schroders head
GERMANY – Today’s arrival of Achim Küssner as the new head of Schroders Investment Management in Germany has been overshadowed by a suit filed against Küssner by his former employer, US asset manager BlackRock.
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PPF deficits index attacked
UK – A new index to be launched by the Pension Protection Fund (PPF) has been decried as a waste of levy income that could drive pension funds to adopt a “herd mentality” to their investments, potentially damaging returns.
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BonyM merger completed
GLOBAL – The Bank of New York and Mellon have announced the finalisation of their merger that creates the largest custodian with over $18trn (€13.3trn) in assets under custody and administration.
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Irish pension accounts rise by 37%
IRELAND – There was a 37% increase in the number of people opening Personal Retirement Savings Accounts (PRSAs) in 2006, according to new data from Irish pensions regulator, the Pensions Board.
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Aegon to merge Polish pension funds
POLAND – Dutch financial group Aegon is to create Poland's fifth largest pension fund in the wake of its acquisition of the pension fund subsidiary of BRE Bank.
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IPE-QUEST: $100m REIT mandate
NETHERLANDS – A Dutch institutional investor is looking for a real estate manager via IPE-Quest.
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Bolton hits out at market activists
[17:07 CEST 03-07] EUROPE - Fidelity Investments has accused some activist shareholders of buying small holdings in companies merely to make short-term gains on the stock market.
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Northern Trust under review at Strathclyde
[17:07 CEST 03-07] UK - The £9.6bn (€14.1bn) Strathclyde pension fund is looking for a custodian.
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PKA mandates hail 'responsible' focus
[17:08 CEST 03-07] DENMARK - Danish occupational pension funds administrator Pensionskassernes Administration (PKA) has hired fund manager Hermes to carry out share-ownership responsibilities for its €3.7bn of non-domestic equity investments, the two parties said.
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UK schemes eye mortality swaps
[17:09 CEST 03-07] UK - Many of the UK’s largest occupational pension schemes would consider paying a premium to hedge out the risks around life expectancy if a market for mortality derivatives developed, new research suggests.
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AP3 appoints 12 GTAA managers
[17:10 CEST 03-07] SWEDEN - The SEK212.2bn (€22.9bn) third Swedish buffer fund, AP3 has appointed 12 managers within global tactical asset allocation (GTAA) as it seeks to diversify its active risk taking.
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Aer Lingus pensioners face €5m loss
[17:11 CEST 03-07] IRELAND – Aer Lingus pensioners face losses of nearly €5m as a result of action taken by the Irish Airline Pilots Pension Fund to block a hostile takeover by Ryanair.
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Place focus on regulation and funding - PPF
GLOBAL - Pension benefit protection schemes are calling for adequate funding to reduce the risk they take as underfunding and supervision are said to be emerging as major issues.
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NXP pensions head for PME
[17:12 CEST 03-07] NETHERLANDS - Chip manufacturer NXP is in negotiations to place its Dutch workers' pensions with the industry-wide pension fund for the Metalektro (PME).
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Wednesday people roundup
GLOBAL – Baring, Watson Wyatt, Pictet, Jupiter, Blackrock, Liability Solutions, DWP, AMF, HSBC, Luzern, SWIP, ABN Amro, GASB
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Swiss transport scheme cuts deficit by 22%
SWITZERLAND – Ascoop, a CHF2.25bn (€1.36bn) pension fund for the Swiss transport sector, has made progress in restoring its financial health and cut its funding deficit last year by 22% to CHF622m.
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Pensions investors behind 51% of Spezialfonds volume
GERMANY – Assets from German pension schemes and insurers account for half of the €699bn in institutional fund (Spezialfonds) volume, according to a study by German asset management association BVI.
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AP6 invests in hedge fund index
SWEDEN – The SEK17.2bn (€1.9bn) Sixth buffer fund AP6 is the first investor in the newly-created Investable Nordic Hedge Fund Index by Swedish bank SEB.
