All IPE articles in July 2007 (Online) – Page 8
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News
ABP and PGGM want returns in sustainable investment
[11:00 CEST 26-07] NETHERLANDS - ABP and PGGM, the largest pension funds in the Netherlands, say they expect to see real returns on investments in sustainability and social causes.
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IPE Quest: Danish fund seeks debt manager
[12:00 CEST 26-07] DENMARK – An unnamed Danish pension fund is seeking a manager for a $70m global emerging markets (GEM) local currency debt mandate, using IPE-Quest.
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Hermes CEO leaves for Nuveen
[15:39 CEST 26-07] UK – Mark Anson is to step down as chief executive of Hermes Pensions Management at the end of August after just 18 months at the investment manager.
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F&C moves 130/30 into Europe
[16:30 CEST 26-07] UK - F&C, the fund manager majority-owned by Friends Provident, is to expand its newly-launched UK 130/30 strategy into European equities.
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Italian coalition too weak for pension reform – S&P
[16:30 CEST 26-07] ITALY – Recent pension reforms agreed in Italy have failed to render the country's fiscal outlook more sustainable, Standard & Poor has found.
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Slovakia compromises on pension opt-out
SLOVAKIA – Individuals who decide to opt out of the Slovak mandatory second pillar pension system will not be able to turn their savings into cash after all, IPE has learnt.
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German insurer Talanx adds Pensionskasse to portfolio
[15:45 CEST 26-07] GERMANY – Insurance conglomerate Talanx has gained another corporate pension fund (Pensionskasse) following its €550m acquisition of nearly all the insurance operations of retail bank Deutsche Postbank.
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FSD recipient appeals TPR findings
[14:00 CEST 27-07] UK – Sea Containers LTD has lodged a formal appeal against the decision by The Pensions Regulator (TPR) to impose a Financial Support Direction (FSD) on the firm regarding its pension schemes.
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Irish SRI funds have "solid performance" – Mercer
[14:30 CEST 27-07] IRELAND – Ethically-managed funds returned 3% for the first half of 2007 compared to 5.6% for equity-only funds.
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Hungary to cut pension benefits
[15:00 CEST 27-07] HUNGARY – IMF staff have welcome steps taken by the Hungarian government to tighten access to disability pension and the early retirement programme.
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Building industry’s fund to reveal investments
[15:30 CEST 27-07] NETHERLANDS - The €25bn industry-wide pension fund for the building industry BPF Bouw is to publish its equity investments to increase transparency.
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Turkisfund to target EU investors
TURKEY - Turkisfund will start marketing its Turkey funds to European investors from its Luxembourg office later this summer.
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Ruling reduces ‘wind-up’ member priority
[17:00 CEST 27-07] UK - The Court of Appeal has overturned an earlier ruling stating defined benefit pension scheme accruals falling under the “Barber Window Service” should be given priority when an underfunded scheme is in wind-up.
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Solvency II "could threaten hedge funds"
[17:03 CEST 27-07] EUROPE - Institutional investments in hedge funds and other alternatives assets classes could come under threat by the Solvency II directive, French business school, Edhec, has claimed.
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IPE Quest: Swiss fund seeks fund of hedge funds
[14:15 CEST 30-07] SWITZERLAND – A Swiss pension fund is tendering a $400m (€293m) long-short-equity fund of hedge funds mandate, using IPE-Quest.
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FRR awards three more passive mandates
[14:30 CEST 30-07] FRANCE – The €33.4bn Fonds de Réserve pour les Retraites (FRR) appointed the final three managers to its newly-created passive portfolio.
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Waltham Forest completes overhaul
[15:00 CEST 30-07] UK – The £485m (€719.6m) London Borough of Waltham Forest pension fund has appointed six new managers.
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Dutch railway fund invests in opportunities
[15:30 CEST 30-07] NETHERLANDS – Spoorwegpensioenfonds (SPF), the €12.1bn Dutch railway pension fund, is looking to invest a total of 5% of its assets in a new ‘opportunity portfolio’.
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ING spreads wings into Greece and Latin America
[16:00 CEST 30-07] NETHERLANDS - Dutch banking group ING has signed a memorandum of understanding with Greece-based Piraeus Bank for a 10-year exclusive distribution partnership in Greece covering life, employee benefits and pension insurances.
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News
Employer quits Swiss scheme APK over bailout
[16:30 CEST 30-07] SWITZERLAND – Aargauische Pensionskasse (APK), a CHF6bn (€3.6bn) pension fund for Swiss civil servants, has lost one of its public employer-backers to another Pensionskasse as the employer in question is unwilling to help finance its bailout.
