All IPE articles in July 2007 (Online) – Page 4
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News
Own assessment proposal for Solvency II
[16:45 CEST 11-07] EUROPE - The European Commission's long awaited Solvency II proposal to upgrade legislation for the insurance industry would have insurers assessing their own capital needs in light of all risks by means of a so-called 'own risk and solvency assessment'(ORSA).
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UK funds may only need one set of actuarial assumptions
[16:45 CEST 11-07] UK – Pension fund trustees will be required to devise an extra set of actuarial assumptions under new regulations on transfer values, but actuaries Hamish Wilson & Co believe funds might get away with only one.
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Hymans steps up quantitative approach
[16:45 CEST 11-07] UK – The consultant Hymans Robertson will offer its clients a quantitatively-based manager research database to cope with the growing number of asset management products.
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Wednesday people roundup (amended)
[16:45 CEST 11-07] GLOBAL – PGGM, Credit Suisse, Fortis, Aegon Asset Management, Pioneer, Swisscanto, Ermitage, Northern Trust, HSBC, Hewitt, First-LM (amended), CBRE.
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Italy reaches pension agreement
[11:00 CEST 12-07] ITALY – The minimum pension will be increased from next year, the Italian government and the unions agreed.
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£3bn NI scheme appoints new custodian
[13:09 CEST 12-07] UK – The £3bn (€4.5bn) Northern Ireland Local Government Officers' Superannuation Committee (NILGOSC) has appointed HSBC Securities Services as its new custodian.
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Pearson to pay £273m to plug pension deficit
[14:00 CEST 12-07] UK - Pearson Plc is to make £273.4m (€403.5m) in additional payments into the Pearson Pension Group pension plan over the next eight years to address a shortfall, an official company document reveals.
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Docters van Leeuwen descends with 10 commandments
[17:00 CEST 12-07] NETHERLANDS – Arthur Docters van Leeuwen, exiting chairman of the Dutch Financial Markets Authority (AFM), has called for greater fiscal transparency and exemption from dividend tax for pension funds.
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IPE-QUEST: $30m heading for SRI
[17:00 CEST 12-07] SWITZERLAND – A Swiss pension fund is seeking to appoint a manager for a $30m SRI (€21.8m) mandate, using IPE-Quest.
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Pensions Board urges trustees to focus on risk
[17:00 CEST 12-07] IRELAND – Trustees should be constantly reviewing the asset allocation in their pension funds' investment portfolios to mitigate risk, the Irish Pensions Board has suggested.
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Hermes chooses tracking partner
[17:00 CEST 12-07] UK – Legal & General Investment Management will provide index tracking services to Hermes Pension Management, it was announced today.
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Pension funds fail to offer relevant training - TPR
[17:00 CEST 12-07] UK – One-third of British pension funds still do not offer any training to their trustees while four in 10 of British schemes do not have any risk management processes in place, according to The Pensions Regulator (TPR).
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Pension fund replaces brown envelope
[11:00 CEST 13-07] EUROPE – New forms of bribe have emerged which now include payments into a pension fund, participants at an anti-corruption seminar learned this week.
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Hoechster Pensionskasse moved out of equities in 2006
[12:00 CEST 13-07] GERMANY – Hoechster Pensionskasse (HPK) divested its equity holdings in 2006 despite it being another good year for equities.
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IPE-QUEST: $50m currency alpha mandate
[17:00 CEST 13-07] UK – A UK-based institutional investor is looking for a manager for a $50m (€36.3m) active global currency alpha mandate using IPE-Quest.
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ABP makes first timber allocation
NETHERLANDS – The €211bn Dutch pension fund ABP has made its first foray into timberland investments with a $60m allocation to the Global Solidarity Forest Fund (GSFF).
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Wiltshire appoints three managers
[17:00 CEST 13-07] UK – The £1.1bn (€1.7bn) Wiltshire County Council Pension Fund has awarded three mandates for unconstrained equity, long-short equity and active currency.
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Morley taps Dromer for global chief
[17:00 CEST 13-07] UK – Insurance giant Aviva has appointed HSBC’s Alain Dromer to replace the late Chris Phillips as chief executive of Morley Fund Management.
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Denmark reforms to resolve ”illegal” pensions tax
[17:00 CEST 13-07] DENMARK - Political parties have agreed a new framework for Danish pensions tax after the European Court of Justice overruled the continuation of the country’s existing system.
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EP wants pan-European pensions product
[17:00 CEST 13-07] EUROPE – The European Parliament has called on the European Commission to encourage the financial industry to create a portable pension product.
