All IPE articles in July 2008 (Online) – Page 7
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News
ABP 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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News
Turkey 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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Wandsworth 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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Czech 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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News
Bulk 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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News
Shape 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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News
Elsevier 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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News
Few 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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News
Aegon 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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News
AFG '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.
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News
German 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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News
Newsquest 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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News
TPR 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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News
RBS 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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News
Wednesday 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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News
Demands 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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News
TPR 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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News
Shareholders 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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News
Bundesbank 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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News
Nordea 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.
