All IPE articles in June 2005 (Online) – Page 8
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News
ETF market set to consolidate, executives say
EUROPE – The exchange traded funds market is set to consolidate, according to some of the sector’s leading executives.
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UK gives employees more voice in pensions
UK – The UK government says employees will have more say in pensions changes under new proposed regulations published today.
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Dutch casino group names new pensions head
NETHERLANDS - Bert Borgman has taken over from Pim Visser as director of the pensions bureau at gaming firm Holland Casino.
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German postal pension fund in €6bn bond sale
GERMANY - The Bundes-Pensions-Service für Post und Telekommunikation, a pension fund for former post and telecoms workers, has launched a sale of €6bn in euro-dominated bonds backed by pension obligations.
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Petroleum Fund pulls €42m from Kerr-McGee
NORWAY – Petroleum Fund has withdrawn NOK337m (€42.8m) from US chemicals group Kerr-McGee Corp. – for potentially “undermining the UN peace process” in Morocco.
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Timetable unclear for EU portability directive
EUROPE – The European Commission is unable to say when it will present the planned draft directive on pension portability.
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Dutch players still critical of FTK
NETHERLANDS – Further criticism about the new Financial Assessment Framework for pension funds emerged last week at an industry gathering.
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SocGen names investor services sales head
GLOBAL - Société Générale has named Sébastien Danloy as global head of sales for investor services at its securities services arm.
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ING buys Slovakia pension fund for €35m
SLOVAKIA – Dutch banking group ING has signed an agreement to buy Slovakian private pension fund VSP Tatry Sympatica for €35m.
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Allianz sets up pension advisory, sales firm
GERMANY - Insurance giant Allianz has created a pension sales and advisory firm in a bid to capitalise on an expected boom in German occupational pensions over the next decade.
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Sweden’s AP2 and AP3 get new board members
SWEDEN – The Swedish government has made new board appointments at AP2 and AP3, two of the six national buffer funds.
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Swiss pensions official quits to join consultant
SWITZERLAND - Jürg Brechbühl, deputy director of the Swiss Federal Social Insurance Agency (BSV), is to leave his post in August to start a career in pension consulting.
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Deutsche revamps Swiss asset management
SWITZERLAND - Deutsche Bank has revamped the executive team at its Swiss asset management divisions DWS and Deutsche Asset Management.
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New EU members 'need three-pillar system’
EUROPE - The 10 new EU member states ought to encourage defined benefit-type pension schemes and introduce three-pillar systems, according to a report from consultant Pragma.
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Strike threat over Irish print scheme wind-up
IRELAND – Workers are to be balloted about a possible strike over a plan to wind-up the Irish Master Printers Association’s final salary pension scheme.
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ABP-backed fund buys into Dutch utility
NETHERLANDS – Macquarie Bank’s European infrastructure fund, which is backed by institutional investors such as Dutch pension fund ABP, has agreed to buy a 49% stake in utilities group NRE Holding for around €80m.
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BT CEO gets pension boost amid scheme deficit
UK – Ben Verwaayen, chief executive of telecoms firm BT Group, has had his pension contributions boosted by the company – although the company’s main scheme is £3.3bn (€4.8bn) in deficit.
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EFRP calls for correct transposition of directive
EUROPE – The European Federation for Retirement Provision says the correct transposition of the occupational pension fund directive could be undermined by a draft protocol by the EU’s committee of pensions supervisors.
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News
Dutch building fund changes name, seeks clients
NETHERLANDS - The Dutch social fund for the building industry, or SFB, has changed its name and says it will intensify its efforts in finding new clients.
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Belgium eyes new legal formula for pensions
BELGIUM - The body advising Belgian minister Bruno Tobback on pensions issues is to consider a legal formula to create a level playing filed between new sector-wide pension funds being established under the so-called Vandenbroucke Law and pension insurance companies.