All IPE articles in July 2008 (Online) – Page 5
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News
Focus funds 'disappointed' BT scheme in 2007
[12:48 CEST 14-07] UK – The £39.7bn (€49.7bn) BT Pension Scheme (BTPS) has revealed investment in the scheme's activist Focus fund range "disappointed" in 2007, following growing uncertainty in global equity markets and increasing investor caution.
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News
Graphics giant envisages €25bn media fund
[12:51 CEST 14-07] NETHERLANDS – In a push for third-party business, the €9.8bn pension fund for the printing and publishing industry Pensioenfonds Grafische Bedrijven (PGB) wants to persuade Dutch media industry schemes to use its services.
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NewsDáil to grill NPRF over Zimbabwe
[14:21 CEST 14-07] IRELAND – The National Pension Reserve Fund (NPRF) has been called to give evidence to the Irish Parliament's joint committee on foreign affairs over Zimbabwe.
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News
Second quarter wipes £30bn off British pension funds
[14:48 CEST 14-07] UK – The aggregated pension schemes of the UK’s 100 largest companies lost £30bn (€37.5bn) in the second quarter this year following increasing liabilities pushed by inflation, according to a new survey.
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News
Pensionskasse gets new roof
[15:26 CEST 14-07] AUSTRIA – The €1.9bn Austrian Pensionskasse ÖPAG will be included in Raiffeisen and Uniqa's soon-to-be-unveiled pensions conglomerate.
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NewsICGN taps CalSTRS CIO as finance chairman
[15:33 CEST 14-07] UK – The UK’s International Corporate Governance Network (ICGN) has confirmed the appointment of Christoper Ailman, the chief investment officer (CIO) at the giant California State Teachers' Retirement System (CalSTRS).
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News
DKK25bn Teachers' fund appoints Sørensen as manager selector
[15:57 CEST 14-07] DENMARK - The DKK25bn (€3.4bn) Danish teachers’ fund, Laerernes Pension, has appointed a fixed income specialist, Morten Roed Sørensen to be its new portfolio manager.
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NewsNew mortality tables ease pension funding
[10:13 CEST 15-07] AUSTRIA – Mortality updates issued by the Austrian actuary association AVÖ show a slight increase in longevity but financing pensions will be cheaper than expected confirms ÖPAG Pensionskasse.
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NewsASB given 'swap' alternative to 'risk free' discount rate
[13:16 CEST 15-07] UK – Pension fund associations have urged the Accounting Standards Board (ASB) to revise plans to introduce 'risk-free' discount rates for pension liabilities, and instead look at swap rates combined with a "sustainable" corporate bond spread.
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NewsCamden starts first phase of portfolio restructure
[14:55 CEST 15-07] UK – The London Borough of Camden has started the restructuring of its pension fund portfolio, issuing tenders for passively-managed securities, fixed income and active global equities.
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NewsDKK115bn PKA eyes hedge funds and bank loans
[15:23 CEST 15-07] DENMARK – Pensionskassernes Administration (PKA), Denmark’s largest occupational pension fund administrator, is looking to make its first allocation to hedge funds.
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NewsBulgaria changes risk options for schemes
[15:38 CEST 15-07] BULGARIA – The Bulgarian government has agreed to implement changes proposed by the Financial Supervision Commission to enable different risk levels in the third pillar and raise the equity cap for second pillar funds.
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News
KPN to base benefits rise on prices not wages
[15:44 CEST 15-07] NETHERLANDS - The €3.4bn pension fund of telecoms giant KPN has decided to change its policy on inflation-linked benefits from 80% of the salary index to 100% of the price index.
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News
Gloucestershire loses 'focus' on Hermes
[16:45 CEST 15-07] UK – Gloucestershire County Council has confirmed its £906m (€1.1bn) pension fund terminated its contract with Hermes' UK equity Focus Fund, as the investment had "already seen the best of its market".
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NewsWednesday people roundup
[12:06 CEST 16-07] GLOBAL – Aon, A.G. Bisset & Co, Pioneer, Aegon, BlackRock, Credit Suisse, Cardano, CAAM, CBRE, Watson Wyatt, Alcentra, HSBC, Invalda.
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NewsHedge change costs Rabo scheme 65% of returns
[12:13 CEST 16-07] NETHERLANDS – The €10bn pension fund of Rabobank lost 3.1% of its overall return last year thanks to a change of its hedge to protect its cover ratio.
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NewsDutch government advisor SER goes fiduciary
[13:30 CEST 16-07] NETHERLANDS – The €145m pension fund of the Dutch Social and Economic Council (SER), the body that advises the Dutch government on social and economic policy, has appointed ING/AZL as its fiduciary manager.
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NewsHSBC launches two emerging economies funds
[14:26 CEST 16-07] EUROPE - HSBC Global Asset Management has launched both a Frontier Markets equity fund and an Emerging Markets Inflation-linked bond fund for European investors.
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NewsFalkirk targets passive manager for 'flexibility'
[15:27 CEST 16-07] UK – Falkirk Council Pension Fund is searching for a passive manager to run an equity portfolio worth up to £325m (€410m).
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NewsRecession threat dampens inflation fears
[15:29 CEST 16-07] EUROPE – European fund managers are looking to healthcare stocks as a safe haven as risk appetite plummets, according to Merrill Lynch.
