All IPE articles in July 2008 (Online) – Page 4
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NewsAegon raises £250m against future UK pension profits
[15:50 CEST 22-07] UK/NETHERLANDS – AEGON has raised £250m (€315m) of core capital through a securitisation transaction on the future profits of its UK pension business AEGON Scottish Equitable.
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NewsFew Slovaks move to opt out
SLOVAKIA – Just 6% of Slovakians had chosen to leave the second pillar pension system by the end of the recently implemented 'opt-out' deadline, figures reveal, but new member inflow will be slower from now on as it is no longer mandatory.
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NewsElsevier scheme drastically alters asset mix
[15:30 CEST 22-07] NETHERLANDS - The €500m pension fund of publisher Elsevier has decided to drastically change its strategic asset mix, in order to be better prepared for the present market conditions.
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NewsShape of local government scheme in question
[16:15 CEST 21-07] UK – Three-quarters of local authority scheme representatives believe the Local Government Pension Scheme (LGPS) will no longer exist in its current form by 2012, Mercer has revealed.
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NewsBulk of UK schemes meet trustee requirement
[15:45 CEST 21-07] UK – Almost one-quarter of pension schemes have gone beyond the minimum legal requirement for the appointment of member-nominated trustees (MNTs) and have at least 50% of the board representing members, the Trades Union Congress (TUC) has claimed.
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NewsCzech senate approves pension reform
CZECH REPUBLIC – The Czech senate has approved legislation that will raise retirement and implement tougher requirement for early retirement.
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NewsWandsworth to change the benchmark
[15:00 CEST 21-07] UK – Wandsworth Borough Council is seeking at least four new investment managers to run its pension fund portfolio. The move is an attempt to change the benchmark of the fund.
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NewsTurkey reforms should remain "priority"
[13:30 CEST 21-07] TURKEY – Reform of the Turkish public pension system should "continue as a matter of priority", according to the OECD. Organisation for Economic Co-operation and Development (OECD).
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NewsABP cuts Fannie and Freddie holdings
[13:00 CEST 21-07] NETHERLANDS – The €205bn Dutch civil service pension fund ABP has confirmed it has cut its mortgage-backed securities (MBS) holdings in US mortgage financiers Fannie Mae and Freddie Mac.
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NewsCambridgeshire goes passive
[12:35 CEST 21-07] UK – The £1.4bn (€1.8bn) pension fund of UK local authority Cambridgeshire county council has awarded a £140m passive equity mandate to State Street Global Advisors (SSgA).
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NewsSwiss returns slump to -8.38% without property
[12:40 CEST 21-07] SWITZERLAND - Swiss Pension funds returned -8.38% for the first half of this year, according to State Street's latest Swiss Pensionskassenindex.
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NewsPension funds will change Romania - National Bank
ROMANIA – Private pension funds will change the financial landscape of Romania, accelerate the development of the equity and bond markets, according to the National Bank of Romania.
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NewsTrustees concerned over transfer incentives - TPR
[16:21 CEST 18-07] UK – Trustees were concerned about potential conflicts of interest in a third of cases where schemes have offered members an inducement or incentive to transfer out of the scheme or accept reduced benefits, The Pensions Regulator (TPR) has revealed.
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News€24bn Finnish fund loses manager selector
[15:55 CEST 18-07] FINLAND – The head of external equity manager selection at the Local Government Pensions Institution (LGPI), Finland’s largest retirement fund, has left her post.
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NewsTNT doubles allocation to inflation-linked debt
[15:05 CEST 18-07] NETHERLANDS - The TNT postal fund has doubled its allocation to inflation-linked bonds at the expense of EMU government paper.
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News1 in 3 Dutch funds have long term reserve shortage – Mercer
[14:37 CEST 18-07] NETHERLANDS – Currently one out of every three Dutch pension funds has a long term reserve shortage, according to investment consultancy, Mercer.
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NewsIreland to review ethical investments
[13:57 CEST 18-07] IRELAND – The Irish government will examine ethical investment following increased calls for independent scrutiny of the National Pension Reserve Fund's (NPRF) holdings in companies operating in Zimbabwe.
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NewsLandmark case points funds to insurance arena
[13:08 CEST 18-07] NETHERLANDS – A Dutch court has ruled that pension funds turned asset managers can continue working under the same name.
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NewsNew group targeted for German second pillar
[10:27 CEST 18-07] GERMANY – German insurance company R+V will offer low earners second pillar pension products.
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NewsDB schemes continue feeding buyout market
[16:06 CEST 17-07] UK – Almost half of UK private sector defined benefit (DB) pension schemes expect to offload their liabilities through a pension buyout or other type of transaction within the next 10 years, according to consultancy Watson Wyatt.
