All IPE articles in July 2007 (Online) – Page 8
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News
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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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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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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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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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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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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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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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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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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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.
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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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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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Wednesday people roundup
GLOBAL – Baring, Watson Wyatt, Pictet, Jupiter, Blackrock, Liability Solutions, DWP, AMF, HSBC, Luzern, SWIP, ABN Amro, GASB
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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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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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News
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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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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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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News
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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News
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.
