All IPE articles in July 2009 (Online)
View all stories from this issue.
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News
Wednesday people roundup
[15:00 CEST 01-07] GLOBAL - Japan Tobacco International, USS, AEIP, SGCIB, Standard Life Investments, Gartmore, UBS, Rowanmoor Pensions, JER, AMB Property Corp, F&C Reit, CBRE, IPD.
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Three-year deficit high to force equity shift and scheme closures
[16:45 01-07] UK – Latest predicted returns figures for the UK defined benefit pensions market saw funds’ deficits hit their highest levels last month for three years, according to consultants who say further changes must be expected if pressure is to be eased on employers.
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TPR cancels consultant search
[16:50 CEST 01-07] UK – The Pensions Regulator (TPR) has cancelled a search for consultants in specialist disciplines such as design consultancy and business management following a review of the procurement process.
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Gjerstad and Båtsfjord retender pensions
[16:55 CEST 01-07] NORWAY – Two more Norwegian municipalities have re-tendered contracts for a provider to supply their local authority pension funds.
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NBIM outlines expectations on climate change
[16:55 CEST 01-07] NORWAY – Norges Bank Investment Management (NBIM) has published its draft expectations on corporate performance in relation to climate change mitigation and adaptation.
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CofE consults on pension changes as defict hits £352m
[17:00 CEST 01-07] UK – The Church of England (CofE) has revealed the pension deficit of its Funded Clergy Pension Scheme had increased to £352m (€411.4m) by the end of 2008.
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Unpaid employer contributions almost double
[17:00 CEST 01-07] UK – The UK's Pension Advisory Service (TPAS) has reported a "worrying increase" in the number of enquiries to its helpline about the non-payment of pension contributions by employers.
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Hewitt buys remaining stake in German merger
[13:00 CEST 02-07] GERMANY - Hewitt Associates has bought the remaining stake in the German consultancy joint venture known as BodeHewitt and is hoping to complete the merger of Hewitt Associates Germany by the end of this year.
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Rabobank agrees new terms with Syntrus Achmea
[13:30 CEST 02-07] NETHERLANDS - The €11.7bn pension fund of Rabobank will maintain its contract with pension provider Syntrus Achmea, after agreeing new conditions for improved service.
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Trustees should be involved in refinancing deals - Mercer
[16:45 CEST 02-07] GLOBAL – Mercer has claimed banks and other lenders should “give greater consideration” to the demands of defined benefit pension scheme trustees when firms are looking to negotiate restructuring or refinancing terms.
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Private equity 'well ahead' of regulatory thinking - State Street
[16:55 CEST 02-07] GLOBAL - Investors remain committed to private equity and are already benefiting from a “fundamental shift” in power away from general partners (GPs), according to State Street.
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Directive could increase systemic risk, warns ex-SEC chairman
[17:00 CEST 02-07] GLOBAL - Harvey Pitt, chairman of the SEC from 2001-2003 and during the 9/11 and Enron years, has warned that the European Commission’s draft directive on alternative investment fund managers could end up exacerbating the systemic risks it is supposed to regulate if it leads to hedge ...
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CLG consults on funding target changes to LGPS
[17:05 CEST 02-07] UK – The government is proposing two alternative approaches for local government pension schemes (LGPS) to meet solvency requirements from the 2010 valuation instead of relying on a 100% funding target, an informal consultation from the department for communities and local government (CLG) has revealed.
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Irish managed funds post fourth consecutive gain
[17:05 CEST 02-07] IRELAND – Irish managed pension funds returned an average of 0.5% in June, resulting in an overall positive six months for the sector, Hewitt Associates has revealed.
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NewsESG reaching out beyond plain equities
[14:00 CEST 03-07] GLOBAL – While the financial crisis may have slowed the development of traditional financial products, it seems to have encouraged new environmental, social and governance (ESG) products.
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NewsPGGM to pursue ESG terms for real estate
[15:30 CEST 03-07] NETHERLANDS – PGGM Investments, the Dutch pensions asset manager, will in future scrutinise all real estate investments under environmental, social and governance (ESG) terms as part of its strategy to encourage all companies to abide by responsible investment principles.
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NewsUWV reviews its asset allocation
[15:45 CEST 03-07] NETHERLANDS – The €3.1bn pension fund of UWV, the Dutch employment and benefits agency, has substantially shifted the focus of its asset allocation and is considering further changes in light of recent market turbulence.
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NewsIrish performance sounded a ‘flat’ note in June
[16:45 CEST 03-07] IRELAND – Rubicon Consulting has delivered an interpretation of Irish group managed pension fund performance which is lower than calculated by rival consultancies, as the firm has claimed funds just skimmed a positive return in June.
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NewsDentists' scheme extracted 3.7% return in 2008
[16:55 CEST 03-07] NETHERLANDS - The €1.3bn pension fund for dentists and dentist-specialists (SPF) returned 3.7% on investments last year, thanks to an extensive derivatives-based hedge.
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NewsLancashire fund drops below £3bn
[17:00 CEST 03-07] UK – Lancashire County Council has revealed the value of its pension fund dropped more than £730m in the year to March 2009 to £2.93bn (€3.43bn).
