All IPE articles in July 2008 (Online)
View all stories from this issue.
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News
Dutch union fund eyes PFZW merger
[11:15 CEST 01-07] NETHERLANDS – The €400m pension fund of the Dutch trade union federation FNV wants to join the €88bn Pensioenfonds Zorg en Welzijn (PFZW), previously known as the PGGM pension fund.
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Hedge fund exodus fails to surface
[11:30 CEST 01-07] GLOBAL – Even with falling returns, institutional investors are still happy to invest in hedge funds, according to research-based consultant Greenwich Associates.
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SRI indices underperformed in market turmoil
[12:00 CEST 01-07] AUSTRIA/GLOBAL – SRI indices have underperformed their peers during recent market turbulence but Martin Cech, portfolio manager at Austrian SRI asset manager Vinis argues this is only a glitch in the responsible investment success story.
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Tesco appoints Hewitt as investment adviser
[12:30 CEST 01-07] UK – Tesco Pension scheme has appointed Hewitt Associates to replace Watson Wyatt as its investment adviser.
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AP6 takes joint ownership of Admeta
[13:00 CEST 01-07] SWEDEN - Sjätte AP-fonden (AP6), the Swedish pension buffer fund, has become a joint owner of the internet marketing company Admeta.
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Sainsbury trustees refute buyout shopping rumour
[15:00 CEST 01-07] UK – Trustees of the Sainsbury pension fund have denied they is seeking an immediate pensions buyout in light of fresh Qatari interest in the company, but have said they may will look again at all of the options.
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Philips scheme sees continued negative return
[15:30 CEST 01-07] NETHERLANDS - The Philips pension fund saw a further drop of its assets and a decrease of its cover ratio as a result of negative returns of –1.7% during the first quarter.
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Aon200 index reveals £30bn deficit
[15:45 CEST 01-07] UK – Trustees need to consider more frequent monitoring of the employer covenant as falling equity markets wiped £36bn (€46bn) from the value of the top 200 UK defined benefit pension scheme and created an aggregate deficit of £30bn, Aon Consulting has revealed.
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Berkshire diversifies away from equities
[16:00 CEST 01-07] UK – The Royal County of Berkshire Pension Fund is implementing a new risk management and diversification investment strategy, which involves moving away from its current target allocation of 70% equities.
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Danes at front of mining firm scrutiny over Zimbabwe
[16:15 CEST 01-07] GLOBAL – PFA Pension, the second-largest Danish pension scheme, has joined a group of influential European pension funds and opened dialogue with mining company Anglo American over its mining activities in Zimbabwe.
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Hammersmith & Fulham award 'dynamic' mandates
[11:00 CEST 02-07] UK – The London Borough of Hammersmith and Fulham has appointed two managers to run specialist dynamic asset allocation portfolios for its pension fund.
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Watson Wyatt unites global quant offerings
[11:30 CEST 02-07] UK – Consultancy firm Watson Wyatt Worldwide is creating a quantitative research and investment systems group in an attempt to combine its various quant offerings into one team.
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Gov't wants 'formal' research into 50% MNTs
[12:00 CEST 02-07] UK – The UK government says more "formal" research is needed to assess potential issues before the government will increase the legal requirement for member-nominated trustees (MNTs) on pension boards from one-third to 50%.
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Delta Lloyd Investment Management GmbH sold
[12:30 CEST 02-07] GERMANY – Kas Bank, the Dutch securities bank, has formally acquired Delta Lloyd’s German investment manager business, following its exclusive talks with Delta Lloyd Deutschland last month.
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TPR finalises wind-up guidance
[13:00 CEST 02-07] UK – The Pension Regulator (TPR) has issued final guidance to help trustees of occupational pension schemes complete key wind-up activities within two years, supported by three new e-learning modules.
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Progress to focus on fixed income
[16:00 CEST 02-07] NETHERLANDS - Progress, the €4bn Dutch arm of and home care Unilever will focus its fixed income investments on emerging markets, euro credits and very long-term bonds.
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Wednesday people roundup
[16:00 CEST 02-07] GLOBAL - Watson Wyatt, Hymans Robertson, AllianzGI, Aberdeen, Schroders, Henderson Global Investors, Millennium Global Investments, New Star, SSGA, State Street, Alliance Trust Asset Management, Black Rock, RBS Asset Management, SLI, Cardano, Pimco.
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Shell pools pension assets and taps JPMorgan for custody
[16:30 CEST 02-07] GLOBAL – Anglo-Dutch oil giant, Royal Dutch Shell has decided to create a single pension pool for its $70bn (€44bn) pension and insurance assets globally, appointing JP Morgan to provide custody services around this new pool.
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Serbia mulls second pillar (amended)
SERBIA – Within the next few years Serbia will be next in line in the CEE region to introduce a mandatory second pillar, Marija Medenica, director of Erste Invest Beograd, has told IPE.
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Nordea Liv & Pensions buys Alka Liv
[12:30 CEST 03-07] DENMARK - Nordea Liv & Pension, the life and pensions arm of the Nordic finance group, has bought Alka Liv - a life insurer with DKK1bn (€134m) under management.
