All IPE articles in July 2009 (Online) – Page 8
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News
Linz AG fund reviews value-at-risk approach
[16:45 CEST 28-07] AUSTRIA – The €180m pension fund for the Austrian energy and telecommunication company Linz AG is hoping investment markets will stabilise soon so it can change its asset allocation approach.
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News
Hounslow awards admin contract to Capita
[16:50 CEST 28-07] UK – The London Borough of Hounslow has appointed Capita Hartshead to administer its £393m (€454.9m) pension fund and provide advice on scheme regulations.
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News
PPF to set up investment advice panel
[16:50 CEST 28-07] UK – The Pension Protection Fund (PPF) is seeking to establish a panel of investment advisers to call on, for advice concerning investment in both new and existing asset classes.
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News
East Sussex tenders for three managers
[16:55 CEST 28-07] UK – East Sussex Council is tendering three investment manager mandates for its £1.39bn (€1.6bn) pension fund.
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News
Surplus assets reduce on BP pension
[17:00 CEST 28-07] UK – BP, the petroleum company, today revealed its post-retirement and defined benefit plan liabilities rose in value a fraction between December 2008 and June 2009, from £10.43bn (€12.09bn) to £10.52bn, yet the scheme remains in surplus as the fund’s assets under management were £11.555bn at the end of last year.
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NewsWednesday people roundup
[13:00 CEST 29-07] GLOBAL – AIC, Henderson New Star, Ignis Asset Management, Axa Rosenberg, Watson Wyatt, Gartmore, RWC Partners, SGSS
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NewsPensions deficit adds to BAA loss
[16:15 CEST 29-07] UK – BAA, the UK airports operator, suffered a £575m loss in the first half of this year, and almost half of this was generated by its defined benefit pension fund.
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NewsMangustaRisk to conduct Fondo Cometa review
[16:30 CEST 29-07] ITALY – Fondo Cometa, Italy’s largest pension fund, has asked MangustaRisk to review all nine of its existing investment manager mandates, which in total are currently worth €4.3bn.
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News
Benefits of default retirement age are 'exaggerated'
[17:00 CEST 29-07] UK – The advantages of a mandatory retirement age of 65, implemented under employment equality regulations in 2006, "have been exaggerated", claims research conducted for the Employers Forum on Age (EFA) and The Age and Employment Network (TAEN).
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NewsPGGM mulls a cull of individual equities
NETHERLANDS - Asset manager PGGM Investments is thinking of drastically reducing the number of individual equity investments it holds, in order to simplify its investment policy and build an improved ESG focus on the companies it its portfolio.
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NewsAkzoNobel pension deficits hit €1.5bn
[17:05 CEST 29-07] UK/NETHERLANDS – Quarterly figures from Dutch paint and coatings firm AkzoNobel has revealed almost £20m (€23.3m) extra had to be pumped into the ICI UK defined benefit (DB) pension fund in the second quarter following its latest funding valuation.
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News
Highland schemes seeks advice for tax recovery
[17:10 CEST 29-07] UK - The Highland Council is seeking a provider of tax advisory service to help its £627.8m (€730.9m) local government pension scheme (LGPS) claim back withholding taxes on dividends from EU and EEA sources.
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NewsNorthumberland appoints investment adviser
[17:10 CEST 29-07] UK – Northumberland County Council has appointed Mercer as its investment adviser, replacing Watson Wyatt who had held the contract for almost two decades.
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News
Consultancy attains independent trustee status
[12:00 CEST 30-07] IRELAND – Attain Consulting is tapping what it expects to be the next big growth market in pensions and investment consulting by launching a separate independent trustee business to assist Irish company pension schemes.
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NewsTrinity deficit rises €80m as bond yields hit home
[16:30 CEST 30-07] UK – Falling corporate bond rates and rising inflation caused the pension deficit of Trinity Mirror's 10 defined benefit (DB) pension schemes to increase by £68.3m (€80m) in the first half of this year.
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NewsBT and BAE hit by wider pension deficits
[16:15 CEST 30-07] UK – The BT Pension Scheme is still the UK’s largest pension scheme but financial figures published today show its deficit widened to a massive £8bn (€9.38bn) gross in the first quarter of its telecoms sponsor’s financial year, while BAE’s UK pensions deficits is now at over ...
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NewsDutch pension fund to invest in US debt
[16:25 CEST 30-07] IPE QUEST – A Dutch pension fund is looking to invest $150m (€106m) in US investment grade debt, using IPE-Quest.
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NewsGerman employers predict little second pillar growth
[16:45 CEST 30-07] GERMANY – German companies are convinced that interest in occupational pensions among their employees will not grow, according to a recent poll.
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News
NDA awards Deloitte actuarial contract
[16:50 CEST 30-07] UK – The Nuclear Decommissioning Authority has appointed Deloitte Total Rewards and Benefits to provide actuarial advice on the pension arrangements that fall within the organisation’s remit.
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NewsKeva to set up transition manager panel
[16:50 CEST 30-07] FINLAND - Kuntien eläkevakuutus (Keva), the Finnish Local Government Pensions Institution, is looking to establish a transition manager panel for its €20bn scheme.
