All IPE articles in July 2007 (Online) – Page 2
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DC managers should 'hang in there' - Cerulli
EUROPE – Foreign managers should commit themselves to European defined contribution schemes regardless of likely initial losses, according to research and consulting firm Cerulli.
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Pensions sector satisfied with supervisor covenant
NETHERLANDS - The Dutch pensions sector has revealed it is satisfied with the new covenant of cooperation between the two supervisors DNB and AFM.
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Slovakian opting-out plans criticised
SLOVAKIA - Government plans to allow people to withdraw their savings from the mandatory second pillar pension system could destabilise the system and spark higher inflation, the industry has warned.
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UN SRI principles gain ground
GLOBAL - Almost 80% of pension fund signatories to the UN Principles for Responsible Investment (PRI) consider responsible investment issues in their investment manager selection process, or plan to do so this year.
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IPE-QUEST: $20m Swiss bond mandate
[16:20 CEST 05-07] SWITZERLAND – A Swiss pension fund is looking for an active convertible bonds manager through IPE-Quest (QN818).
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Powys drops overseas bonds
[16:19 CEST 05-07] UK - Western Asset Management and Barclays Global Investors (BGI) have lost out in a major reshuffle at the £295m (€436m) Powys County Council Pension Fund that has seen overseas bonds culled from the portfolio.
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Analyst calls for pension stability in France
[16:22 CEST 05-07]FRANCE – The French supplementary pension system will not start to develop until the government has made a final decision on taxation and regulatory issues, an analyst has warned.
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BlackRock injunction rejected
[16:30 CEST 05-07] GERMANY – A Frankfurt court has dismissed an injunction filed by US asset manager BlackRock against Achim Küssner, the former head of its German operation who joined Schroders as its new German head on Monday.
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FRR seeks managers for a French equity portfolio
[15:32 CEST 05-07] FRANCE – The €32bn French reserve fund (FRR) is looking for managers for a new French equity portfolio worth in excess of €500m.
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Buy back of 'missed' years made easier
[16:38 CEST 05-07] UK – People will be allowed to buy back up to nine years in which they did not contribute to their state pension at any time before their retirement, if the House of Commons accepts a House of Lords’ amendment to the Pension Bill.
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ABN Amro sells custody business
[16:34 CEST 05-07] GLOBAL – Dutch bank ABN Amro has exited the asset servicing business with the sale of its 50% stake in custody joint venture ABN Amro Mellon to the newly merged Bank of New York Mellon.
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ECJ makes first cross-border pension tax ruling
[16:38 CEST 05-07] EUROPE – The European Court of Justice (ECJ) has made its first ruling on tax obstacles to the cross-border transfer of pension capital.
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AEVWL invests in Luxembourg alternatives
[11:13 CEST 06-07] GERMANY – Ärtzeversorgung Westfalen-Lippe (AEVWL), the €7.1bn pension fund for doctors, has allocated €600m to a Luxembourg institutional fund (FCP) which invests in private equity, hedge funds and structured products.
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Trustees blame actuaries for deficits
UK – Actuaries have contributed to the huge deficits faced by many pension schemes by failing to take account of improved life expectancy in their advice, trustees have alleged.
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Another Dutch giant invests in trees
NETHERLANDS – The €85bn healthcare workers' pension fund PGGM has awarded a $200m (€150m) 15-year forestry mandate.
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CEO departure leaves UBS rating stable
GLOBAL – Swiss bank UBS has decided to replace chief executive Peter Wuffli with his deputy Marcel Rohner, in a surprise move,effective today.
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Rift evident in PZU’s senior management
POLAND – Miroslaw Panek, a vice-chairman and member of the PZU executive responsible for finances, has resigned his post after 10 months.
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NAPF finds pensions regulation a worry
UK – Three quarters of UK pension schemes are more concerned about the regulatory burden than improving longevity and closing their deficits, research suggests.
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Shift your focus to‘Gen Y’, says KPMG
GLOBAL - Pension providers are ignoring the financial interests of Generation ‘Y’ who will be essential to tomorrow’s business profitability and survival, according to a study by KPMG.
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Glasgow fund monitors underperforming managers
UK - The £9.73bn (€14.4bn) Strathclyde Pension Fund has put Edinburgh-based Baillie Gifford and Isle of Man’s Capital International under watch due to underperformance.
