All IPE articles in July 2009 (Online) – Page 2
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News
Kenny accepts another term as Ombudsman
[17:00 CEST 03-07] IRELAND – Paul Kenny has been reappointed for another term as the Pensions Ombudsman, the government has confirmed.
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NewsPension scheme investment hits £2bn in Q1
[17:05 CEST 03-07] UK – Net investment by self-administered pension funds increased by £14.8bn over the first quarter of 2009 to show a net result of £2bn (€2.33bn), the Office of National Statistics (ONS) has revealed.
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NewsEuropean pensions see profound changes - EIAMS 2009
[10:00 CEST 06-07] EUROPE - European institutional investors are changing the way they allocate assets and interact with external service providers, according to the latest European Institutional Asset Management Survey, conducted by IPE.
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News
Irish investment strategy 'too risky'
[14:15 CEST 06-07] IRELAND – The investment strategy of many Irish pension funds was "too risky" and is why around 90% of schemes failed to meet the funding standard last year, the Pensions Board has claimed, and why some are unable to meet liabilities of existing pensioners if the scheme ...
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NewsNorth Yorks funding level drops to 35%
[15:00 CEST 06-07] UK – North Yorkshire Pension Fund saw its funding level drop to 35% in March 2009 compared with 68.8% two years earlier.
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NewsSwiss gov’t looks abroad for supervision
[15:45 CEST 06-07] SWITZERLAND – The Swiss government is searching for researchers to conduct a comparative study of pension supervision and to check the applicability of Solvency II as part of a project to collect ideas for pensions reform.
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News
ABN Amro limited losses through rebalancing
[16:00 CEST 06-07] NETHERLANDS - The €8.8bn pension fund of ABN Amro managed to limit its losses to 1.6% in 2008 thanks to the introduction of ‘dynamic rebalancing policy’.
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NewsReal estate dominates in alternative assets
[17:00 CEST 06-07] GLOBAL – Real estate investments still make up over half of the alternative assets managed by external managers on behalf of pension funds, and despite the economic downturn, suggests a study conducted by Watson Wyatt.
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News
Gov't Finance Bill amendments not enough
[17:10 CEST 06-07] UK – Government amendments to anti-forestalling proposals ahead of the restriction of higher rate tax relief in 2011 have addressed some concerns held by pensions experts, though officials warn yet more needs to be done.
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NewsBBC pension fund drops £1.6bn
[17:15 CEST 06-07] UK – The value of the BBC Pension scheme dropped £1.6bn (€1.86bn) to £6.5bn at the end of March 2009.
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NewsBorghouts quits ABP amid political pressure
[17:25 CEST 06-07] NETHERLANDS – Harry Borghouts, interim chairman of ABP, has chosen to step down from duties at the civil service pension fund following controversy around his role as Queen’s commissioner in the Noord-Holland province.
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NewsRomanian funds return 7% amid consolidation
ROMANIA – Funds in the Romanian mandatory second pillar reported an average return of 6.97% for the first half of 2009, and there are further consolidations in the pipeline.
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NewsKeva chief resigned ahead of exoneration
[16:00 CEST 07-07] FINLAND – Markku Kauppinen, the chief executive of Finland’s Local Government Pensions Institution (Keva), resigned yesterday following allegations of corruption concerning his political role and investments made by the pension fund. Yet supervisory officials today stated its own investigation found there was no sign of any wrongdoing.
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NewsOECD calls for better pensions governance
[16:30 CEST 07-07] GLOBAL – The Organisation of Economic Cooperation and Development has just published guidelines and regulatory principles from which it believes all pensions regimes should base their pension fund governance, to deliver “stronger regulation and better governance”.
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NewsSuffolk No.1 fund deficit nears £700m
[16:45 CEST 07-07] UK – The deficit of Suffolk County Council's main pension fund has more than quadrupled over the past two years to £690m (€800.8m).
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NewsAhold scheme saw cover ratio fall 40%
[16:45 CEST 07-07] NETHERLANDS - The €1.8bn pension fund of retailer Ahold saw its cover ratio drop by 68 percentage points to 102% last year, through falling equity markets combined with decreasing long-term interest rates.
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News
Torfaen to move into global equities
[16:50 CEST 07-07] UK - Torfaen County Borough Council is searching for one or more managers to run a new global equity portfolio valued at around £100m.
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News
Norway prepares review of active management
[16:55 CEST 07-07] NORWAY – The Norwegian ministry of finance is seeking a consultant to prepare a report which will then feed into the government’s evaluation of the active investment management of the NOK 2.3trn (€254.9bn) Norwegian Government Pension Fund – Global.
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NewsMerseyside appoints managers to transition panel
[16:55 CEST 07-07] UK – Wirral Borough Council has appointed four transition managers to aid the movement of assets in the Merseyside Pension Fund following strategy changes.
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NewsCardiff seeks emerging markets manager
[17:20 CEST 08-07] UK - Cardiff County Council is seeking an emerging markets equity manager to run a specialist portfolio for the Cardiff & Vale of Glamorgan Pension fund.
