All IPE articles in July 2008 (Online) – Page 3
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NewsNPRF saw negative return of -12% in H1
[16:40 CEST 24-07] IRELAND – The National Pension Reserve Fund (NPRF) has reported a negative return of -12% in the first half of 2008.
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NewsTwo-thirds outsource admin despite TPR fears
[16:30 CEST 24-07] UK – Over two-thirds of employers with defined benefit (DB) schemes have outsourced their pensions administration to third-party providers, according to Aon Consulting, even as the UK regulator raised concerns about the level of skill among administrators.
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NewsUN staff pension funding level hits 147%
[16:30 CEST 24-07] GLOBAL – The $40.6bn (€25.9bn) United Nations Joint Staff Pension Fund (UNJSPF) has reported a funding level of 147% and an actuarial surplus of 0.49% of pensionable remuneration.
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NewsCredit Suisse stems asset bleed
[16:20 CEST 24-07] SWITZERLAND – After major asset outflows in the first three months of this year Swiss bank Credit Suisse has reported more positive figures for Q2, though all is not yet well.
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NewsTowers Perrin takes risk management to "next level"
[16:10 CEST 24-07] EUROPE – Towers Perrin has created a new subsidiary to focus on the provision of advice on risk management services, including pension fund solutions which pull together the insurance and reinsurance market with the capital markets.
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NewsDefendants acquitted in Vera/Pevos pensions trial
SWITZERLAND – All seven defendants in the trial around the collapse of the Vera and Pevos Pensionskassen in Switzerland in 1996 have been acquitted by a regional court and officials say it now may be too late to take the case further.
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NewsSPMS returns –4.9% in first half
[11:00 CEST 24-07] NETHERLANDS - The €5.2bn pension fund for medical consultants SPMS suffered market turbulence in the first half of this year, like many other pension funds, and saw its return drop –4.9% as a result.
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NewsPoor record-keeping could add 5% to buyout cost
[17:05 CEST 23-07] UK – The Pension Regulator (TPR) is targeting poor record keeping with a consultation on new proposals for "good practice" guidelines for trustees and administrators, as evidence suggests poor practice significantly adds to the scheme's costs.
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NewsBVI sees trend towards specialisation
[16:45 CEST 23-07] GERMANY – Investors are once again choosing separate providers for portfolio management and fund administration, according to the German investment and asset management federation BVI.
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NewsNordea suffers institutional outflows in Q2
[16:35 CEST 23-07] SCANDINAVIA – The Nordic finance group Nordea has said its assets under management (AuM) for institutional clients stayed neutral in the second quarter of this year despite losing a number of money market mandates.
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NewsBundesbank on a pensions roll
[16:30 CEST 23-07] GERMANY – The German federal bank, known as the Bundesbank, has confirmed it has signed yet another deal to look after the asset management of one of the newly-established Pensionsfonds for civil servants.
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NewsShareholders called to step up chairmanship scrutiny
[16:25 CEST 23-07] UK/GLOBAL – Companies must expect more scrutiny and pressure from shareholders managing pension fund assets, according to officials at UK investment house Legal & General Investment Management, to ensure they act responsibly and efficiently in the interests of shareholders, staff and customers during the current economic climate.
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NewsTPR powers could create pension "super-creditors"
[15:30 CEST 23-07] UK – Members of the House of Lords, the UK's upper parliamentary chamber, have warned new anti-avoidance powers given to The Pension Regulator (TPR) could lead to pension funds becoming "super-creditors" and would increase the risks of schemes joining the Pension Protection Fund (PPF).
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NewsDemands for SWF transparency 'will fail'
[15:25 CEST 23-07] GLOBAL – Growing demands for transparency by sovereign wealth funds (SWFs) from recipient countries will fail unless more diplomacy is used, asset management giant State Street has claimed.
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NewsWednesday people roundup
[15:15 CEST 23-07] People roundup: GLOBAL – UBS, SSgA, Newton, Redington Partners, Barrie & Hibbert, Alexander Forbes, Mercer, Russell, Aon, BNP Paribas, Wilshire, Halbis, Watson Wyatt.
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NewsRBS unveils buyout solution for German corporates
[16:40 CEST 22-07] GERMANY – The Royal Bank of Scotland (RBS) together with insurer Ergo has launched a pension liability buyout service targeting German corporates with pension liabilities of €500m onwards.
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NewsTPR mortality delay "too late" for some funds
[15:30 CEST 22-07] UK – The Pensions Regulator's (TPR) decision to delay the introduction of a mortality "trigger" until the end of 2009 has come "too late" for some schemes, Watson Wyatt has claimed.
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NewsNewsquest allocates 10% to hedge funds
[15:20 CEST 22-07] UK – Newsquest Pension Scheme has awarded two fund of hedge fund mandates, valued at £40m (€50m), which is equivalent to 10% of scheme assets.
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NewsGerman CTA to award €350m TAA mandate
[16:10 CEST 22-07] GERMANY – A fiduciary manager in Germany acting on behalf of a German pension fund is looking for managers for a €350m tactical asset allocation (TAA) mandate, using IPE-Quest.
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NewsAFG 'confident' UCITS will include passport
[16:05 CESAT 22-07] EUROPE – The Association Française de la Gestion Financière (AFG), the French asset management association, today said it is confident the European Commission will include full fund passports as an element of the fourth Undertakings in Collective Investments and Securities (UCITS) directive.
