All IPE articles in July 2008 (Online) – Page 2
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News
APG promotes Sleijpen into Cordares' institutional role
[14:30 CEST 03-07] NETHERLANDS – Olaf Sleijpen, director of strategy and policy at APG, today was promoted to take over as director for institutional clients after the merger between APG and Cordares has been completed.
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North Yorks re-signs Mercer and reviews fixed income
[15:00 CEST 03-07] UK – North Yorkshire County Council has reappointed Mercer to provide actuarial services for its local government pension scheme for a further six years.
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News
Düsseldorf to launch pension fund
[15:30 CEST 03-07] GERMANY – Düsseldorf, the capital city of the German state of North Rhine-Westphalia, plans to launch a new pension arrangement for its civil servants.
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News
Irish managed funds drop 21% in a year
[15:45 CESt 03-07] IRELAND – Irish pension funds have been caught in a "perfect storm" of stock market declines, as managed pension funds fell 21% in the 12 months to June 2008, Hewitt Associates has revealed.
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News
KLM schemes check into emerging markets debt (amended)
[16:00 CEST 03-07] NETHERLANDS - The three KLM pension funds, with combined assets of €12.7bn, have started to invest in local currency emerging markets debt, in order to diversify their fixed income portfolios.
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News
Irish Labour Court rules on RTÉ dispute
[16:15 CEST 03-07] IRELAND – The Irish Labour Court has backed the proposal of an optional hybrid pension scheme as a solution to the dispute between RTÉ and the RTÉ Trade Union Group (TUG) on pension provision.
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News
Manchester seeks property agent
[16:30 CEST 03-07] UK – The £9.6bn (€12bn) Greater Manchester pension fund is seeking a new property management firm to manage part of its real estate portfolio.
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News
Private sector membership falls by 400,000
[15:50 CEST 04-07] UK – The overall number of active members in occupational pension schemes has fallen by 400,000 over the last year to 8.8 million, according to the Office of National Statistics (ONS).
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News
Swiss absolute return manager opens Dutch office
[15:47 CEST 04-07] NETHERLANDS – The Swiss hedge fund and asset manager EIM Group, specialists in absolute return portfolios, has opened a separate office in Amsterdam.
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News
Sweden sells E4.4bn real estate arm to AP
[15:45 CEST 04-07] SWEDEN – The Swedish government has agreed to sell the state-owned real-estate company Vasakronan to AP Fastigheter in a deal valued at SEK 41.1bn (€4.4bn).
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News
One-fifth of potential Scot Wids claimants in talks with ARC
[15:45 CEST 04-07] UK – The Actuarial Review Company (ARC) says it is now in talks with more than 20 sets of trustees who believe they may have suffered from allegedly negligent advice given by Scottish Widows to switch from a deferred annuity guaranteed contract to the insurer's pensions managed ...
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News
BAA staff accept final salary closure
[15:47 CEST 04-07] UK – 71% of union members have voted to accept a pensions package from the British Airport Authority (BAA), which will see the final salary scheme closed to new entrants and replaced by a defined contribution (DC) scheme.
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News
SPW has negative first quarter return
[15:40 CEST 04-07] NETHERLANDS - SPW, the €4.6bn pension fund for housing corporations, reported a negative return on investments of –4.5% during the first quarter.
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News
Lothian taps Hermes for global voting advice
[15:45 CEST 04-07] UK – The Scottish £3bn (€3.8bn) Lothian Pension Fund has appointed Hermes Equity Ownership Services (EOS) for a voting and engagement overlay to engage with companies internationally.
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News
Resistance against SBB financial aid
[15:50 CEST 04-07] SWITZERLAND – The Swiss economic federation “economiesuisse” as well as the conservative opposition party SVP reject plans to further subsidise the underfunded federal railways pension scheme SBB.
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News
Kingston restructures 'inefficient' portfolio
[12:30 CEST 07-07] UK – The Royal Borough of Kingston Upon Thames has started the restructuring of its pension fund investment portfolio by issuing four management tender notices.
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News
Flemish government aids VRT fund
[16:10 CEST 07-07] BELGIUM – The Flemish government in Belgium has announced it will pay a yearly sum of €10m into the pension fund of public broadcaster VRT, following “structural financial shortages” at the organisation.
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News
Romanian pension assets to reach €224m by year end
ROMANIA – Romanian second pillar funds are expected to collect €224m in contributions in their first year of existence - but that is not enough according to the IMF.
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News
German CTA to award €45m debt mandate (amended)
[16:20 CEST 07-07] GERMANY – A fiduciary manager has revealed a German pension fund client is looking for managers for a $70m (€45m) Eurozone debt mandate, using IPE Quest. (Amended with updated closing date)
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News
AFP contributions rose 12.4% in 2007
[16:25 CEST NORWAY – Contributions to the Norwegian early-retirement Avtalefestet Pensjon (AFP) scheme increased by 12.4% in 2007, Statistics Norway has revealed.
