All IPE articles in July 2008 (Online) – Page 6
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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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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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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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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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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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NewsSecond 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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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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NewsGraphics 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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NewsFocus 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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NewsVolkerWessels unable to increase inflation hedge
[12:11 CEST 14-07] NETHERLANDS - The €850m pension fund of building company VolkerWessels won’t be able to raise its 70% hedge of European inflation, because of disappointing returns on investments last year.
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NewsIPE-Quest: €50m small cap US equity tender
[16:52 CEST 11-07] EUROPE – A continental European pension fund has said it is looking for a manager for a €50m USA and Canada core equity small cap brief, using IPE Quest.
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NewsNordea to launch Estonian pensions business
ESTONIA – Nordea, the Nordic finance group, is to enter the Estonian pension fund market with the planned launch of its Nordea Pensions Estonia pension fund.
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NewsPGB’s commodities net 47.2%
[16:32 CEST 11-07] NETHERLANDS - With returns of 47.2%, alternatives were the best performing asset class in 2007 for the €9.8bn pension fund of the printing and publishing industry PGB.
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NewsUkraine's second pillar on hold
UKRAINE – Adverse financial market conditions have led to a further postponement of the introduction of a second pillar in Ukraine.
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NewsDutch scheme assets drop to €793bn
[16:21 CEST 11-07] NETHERLANDS - Total liabilities of the Dutch pensions sector decreased by €14bn in 2007 thanks to the rise in interest rates, according to pensions regulator De Nederlandsche Bank.
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NewsNPRF to raise concerns over Zimbabwe investments
[16:10 CEST 11-07] IRELAND – The Commission of the National Pensions Reserve Fund (NPRF) has refuted claims that the fund invests around 3% of its assets in Zimbabwe-based companies.
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NewsBuyout prices to rise as market hits capacity
[16:07 CEST 11-07] UK – Increased regulatory and accounting pressures are encouraging pension schemes to de-risk, but Pension Capital Strategies (PCS) has warned prices will edge up as a number of players reach capacity.
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NewsHaringey splits investment and actuarial advice
[15:46 CEST 11-07] UK – The London Borough of Haringey has split the investment and actuarial services for its £605.2m (€757m) pension fund between Hewitt Associates and Hymans Robertson.
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NewsHoogovens fund to strengthen SRI criteria
[15:29 CEST 11-07] NETHERLANDS – Stichting Pensioenfonds Hoogovens, the €5.19bn scheme of Corus Netherlands, is set to implement a new socially responsible investment (SRI) policy for its investments.
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NewsUK unions warn of BBC pensions strike
UK – Trade unions have warned they may resort to industrial action if the BBC continues with plans to raise employee contributions, despite a £275m surplus.
