All IPE articles in July 2008 (Online) – Page 8
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News
Spilled milk for HS Admin over UK fund
[15:00 CEST 08-07] UK – The £340m (€428m) UK Milk Pension Fund, the multi-employer defined benefit scheme sponsored by employers in the UK dairy industry, has replaced its administrator HS Admin and tapped Aon Consulting.
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NewsGov't targets annual reconciliation solution
[14:00 CEST 08-07] UK – The government may use an annual reconciliation mechanism as the solution to the potential benefit gap between personal accounts and employer sponsored schemes caused by the current definition of the "qualifying earnings" limit.
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NewsEC lifts hold-up on Ucits IV
[13:30 CEST 08-07] EUROPE - Ucits IV, described as a badly-needed upgrade of European Union rules governing pan-EU cross-border fund movements, is back on the European Commission’s agenda.
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NewsAhold scheme returns compensated by rising rates
[13:00 CEST 08-07] NETHERLANDS - Despite disappointing returns of 0.3%, the cover ratio of the €2.2bn pension fund of food retailer Ahold increased to almost 170% thanks to rising interest rates last year.
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NewsPension deal dies along with coalition
[12:30 CEST 08-07] AUSTRIA – Austrian voters will have to choose a new government as the coalition between the SPÖ and ÖVP parties has broken over pension, health and EU issues.
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NewsCredit crunch pushes pension flight from equities
[12:15 CEST 08-07] UK – Nearly half of pension scheme managers have shifted their investments from equities to bonds during the past 12 months, according to research released by Aon Consulting.
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NewsFundamental indexing still disliked – IPE survey
[16:35 CEST 07-07] EUROPE – Fundamental indexing strategies still remain unpopular as the vast majority of small and medium-sized European institutional investors indicate they are not even considering the instrument, according to the first IPE/Invesco survey.
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NewsDWP to discuss reporting concerns with ASB
[16:40 CEST 07-07] UK – The UK government has confirmed it intends to make "representations" to the Accounting Standards Board (ASB) over its proposals to change the way pension fund assets and liabilities are reported.
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NewsFRR to award €3.1bn worth of equity mandates
[16:30 CEST 07-07] FRANCE – FRR, the €33bn French national pension reserve fund, has launched requests for proposals for eight US and Asia Pacific equity mandates, worth €3.1bn in total.
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NewsAFP contributions rose 12.4% in 2007
[16:25 CEST NORWAY – Contributions to the Norwegian early-retirement Avtalefestet Pensjon (AFP) scheme increased by 12.4% in 2007, Statistics Norway has revealed.
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NewsGerman CTA to award €45m debt mandate (amended)
[16:20 CEST 07-07] GERMANY – A fiduciary manager has revealed a German pension fund client is looking for managers for a $70m (€45m) Eurozone debt mandate, using IPE Quest. (Amended with updated closing date)
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NewsRomanian pension assets to reach €224m by year end
ROMANIA – Romanian second pillar funds are expected to collect €224m in contributions in their first year of existence - but that is not enough according to the IMF.
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NewsFlemish government aids VRT fund
[16:10 CEST 07-07] BELGIUM – The Flemish government in Belgium has announced it will pay a yearly sum of €10m into the pension fund of public broadcaster VRT, following “structural financial shortages” at the organisation.
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NewsKingston restructures 'inefficient' portfolio
[12:30 CEST 07-07] UK – The Royal Borough of Kingston Upon Thames has started the restructuring of its pension fund investment portfolio by issuing four management tender notices.
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NewsResistance against SBB financial aid
[15:50 CEST 04-07] SWITZERLAND – The Swiss economic federation “economiesuisse” as well as the conservative opposition party SVP reject plans to further subsidise the underfunded federal railways pension scheme SBB.
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NewsLothian taps Hermes for global voting advice
[15:45 CEST 04-07] UK – The Scottish £3bn (€3.8bn) Lothian Pension Fund has appointed Hermes Equity Ownership Services (EOS) for a voting and engagement overlay to engage with companies internationally.
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NewsSPW has negative first quarter return
[15:40 CEST 04-07] NETHERLANDS - SPW, the €4.6bn pension fund for housing corporations, reported a negative return on investments of –4.5% during the first quarter.
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NewsBAA staff accept final salary closure
[15:47 CEST 04-07] UK – 71% of union members have voted to accept a pensions package from the British Airport Authority (BAA), which will see the final salary scheme closed to new entrants and replaced by a defined contribution (DC) scheme.
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NewsOne-fifth of potential Scot Wids claimants in talks with ARC
[15:45 CEST 04-07] UK – The Actuarial Review Company (ARC) says it is now in talks with more than 20 sets of trustees who believe they may have suffered from allegedly negligent advice given by Scottish Widows to switch from a deferred annuity guaranteed contract to the insurer's pensions managed ...
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NewsSweden sells E4.4bn real estate arm to AP
[15:45 CEST 04-07] SWEDEN – The Swedish government has agreed to sell the state-owned real-estate company Vasakronan to AP Fastigheter in a deal valued at SEK 41.1bn (€4.4bn).
