All IPE articles in July 2009 (Online) – Page 3
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NewsActuarial vote falls short for merger plan
[15:30 CEST 24-07] UK – The merger of the UK's two actuarial profession bodies received has significant support from members of both organisations, however the plans have been delayed as a vote by the Institute of Actuaries fell short of the required majority to continue with the merger.
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NewsMutual funds to see surge in German institutional interest
[15:00 CEST 24-07] GERMANY – Interest in mutual funds (publikumsfonds) is "high" and "set to grow" among German institutional investors, according to a poll of fund managers and investors.
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NewsShell scheme saw assets dive by 43%
[14:00 CEST 24-07] NETHERLANDS - The Dutch pension fund of energy giant Shell saw its assets drop by over 43% to €10.6bn last year, and its cover ratio plummeted from 180% to 80%.
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NewsInvestors back forest footprint project
[13:30 CEST 24-07] GLOBAL - Sixteen investors worth $2.2trn (€1.5trn) have thrown their weight behind an initiative calling on businesses to disclose what they describe as their ‘forest footprint’.
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NewsAberdeen offers £160m global equity mandate
[16:55 CEST 23-07] UK – Aberdeen City Council is seeking investment managers to run a specialist portfolio in global equities excluding UK for its local government pension fund.
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NewsTPR 'willing to enforce' DC improvements
[16:50 CEST 23-07] UK – The Pensions Regulator has signalled its intention to take a tougher stance on defined contribution (DC) pensions governance, with a particular focus on retirement options and processes and employer engagement.
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NewsResearch claims UK adults expect to retire past 70
[16:45 CEST 23-07] UK – Less than half of workers expect to be able to retire before the age of 70, while 69% of those already aged over 65 do not know when they will be able to start retirement, Barings Asset Management has claimed.
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NewsHSE reports pension deficit hits €29m
[16:40 CEST 23-07] IRELAND – The Health Service Executive (HSE) has revealed there was a 45% increase in the deficit of its defined benefit (DB) pension costs totalling €29m by the end of May.
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NewsSPMS saw cover ratio drop by a third
[16:30 CEST 23-07] NETHERLANDS - The €4.2bn pension fund for medical consultants SPMS returned –16.2% on investments in 2008 and saw its cover ratio drop from 146% to 98%.
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NewsPositive Q2 pushes NPRF above €19bn
[16:15 CEST 23-07] IRELAND – The National Pension Reserve Fund (NPRF) has grown in value by almost €4bn as it posted a second quarter investment return of 9.4%.
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NewsPfZW maintains 100% cover ratio
[16:00 CEST 23-07] NETHERLANDS – Pensioenfonds Zorg & Welzijn, the Dutch pension fund for care and welfare workers, has managed to hold onto the 100% cover ratio achieved by the end of May, thanks to a strong second quarter of gains in most asset classes.
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NewsDC trustees forced to focus on admin
[16:45 CEST 22-07] UK – The majority of defined contribution (DC) fiduciaries, such as trustee boards or monitoring committees, claim they are forced to focus on the administrative side of scheme governance rather than qualitative activities such as investment strategy, according to a study conducted by Watson Wyatt.
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NewsKingston finalises restructuring with eight manager hires
[16:40 CEST 22-07] UK – Eight new investment managers have been appointed by the Royal Borough of Kingston-Upon-Thames as part of the restructuring process of its £278.7m (€322.2m) pension fund investment portfolio.
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NewsFlight staff scheme is best performer at KLM
[16:30 CEST 22-07] NETHERLANDS - A €5bn pension scheme for KLM flight staff suffered an investment loss of 9.2% last year, yet this is hailed as being the best performing pension fund of the airline’s three large schemes in 2008.
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NewsPharmacists to sue State Street for Lehman losses
[16:15 CEST 22-07] NETHERLANDS – Two Dutch pension funds - the €203m pension fund OPG, for medicines wholesale group Mediq, and PMA, the fund for pharmacists - have begun legal proceedings against State Street for losses incurred in the Lehman Brothers collapse.
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NewsGoris unveils an 'integrated' pensions consultancy
[16:00 CEST 22-07] NETHERLANDS - Goris & Partners, the Netherlands-based investment consultancy, has expanded its operation to offer pensions fund boards a full, integrated management support service.
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NewsThurgau puts faith in ALM study
[15:15 CEST 22-07] SWITZERLAND – The pensionskasse for the northern Swiss canton of Thurgau (PKTG) has hired Swiss consultancy Complementa to conduct an ALM study, after returning -18.9% last year.
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NewsWednesday people roundup
[15:00 CEST 22-07] GLOBAL – People roundup: Swedbank Investment Funds, Fidelity International, Mercer, FSA
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NewsCHF350m needed as special payment from Swiss employers
[13:00 CEST 22-07] SWITZERLAND – Recovery measures planned by various Swiss pensionskassen will not have a significant effect on the country’s economy, according to a Swiss federal government report.
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NewsPensions delivery body clocks up £11m accounting deficit
[16:55 CEST 21-07] UK – The Personal Accounts Delivery Authority (PADA) has ended the financial year to 31 March 2009 with a net accounting deficit of £11.1m (€12.8m) in its "general fund" of capital, as funding solely from the government was insufficient to meet annual costs of £30.9m.
