All IPE articles in June 2007 (Online) – Page 2
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Norwegian giant tenders tax advice
NORWAY – Norges Bank Investment Management (NBIM) is seeking a tax adviser on investments of the NOK1.88trn (€236.3bn) Norwegian Government Pension Fund – Global.
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Architects and teachers to join forces
DENMARK – Three pension funds for professionals are planning an alliance that would oversee DKK63bn (€8.46bn) for 70,000 members.
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Develop alternatives to DC, urges Bank president
NETHERLANDS - The president of supervisor De Nederlandsche Bank (DNB) has challenged the Dutch pensions sector to develop new alternatives to defined contribution (DC) plans.
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France half way to solving pension issue - OECD
FRANCE – Complex tax and overgenerous benefits for public transport workers are holding up pension reform, according to the OECD.
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Wednesday people roundup
GLOBAL – EFAMA, Aon Consulting, Portuguese reserve fund, Hermes, Mellon, Jupiter, Sacker, Halbis
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Swiss and UK funds win tax refund
UK/SWITZERLAND – UK pension funds investing in Swiss companies will get their tax at source on dividends refunded under a new amendment to bilateral agreements signed today.
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London & Capital doubles assets
GLOBAL – London & Capital reported a rise in assets under management to over $3bn (€2.23bn) from $1.6bn in 2005.
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Accor Hotels taps Horeca for extra services
NETHERLANDS - Horeca & Catering (PH&C) is to provide employees of Accor Hotels in the Netherlands with additional pension products.
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Covip defends itself before Senate
ITALY – Pensions regulator, Covip, has told the parliament in Rome that it would be wrong and untimely to reform supervision of occupational retirement plans.
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Equities bolster return at Nestlé’s German fund
GERMANY – Nestlé Pensionskasse (NPK) finished 2006 with a return of 5% as strong equities compensated for underperforming bonds.
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SAM promises profit from climate change
EUROPE – Pension funds can make money from climate change whether or not man acts to curb its effects, according to a leading sustainability investor.
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Voting disclosure still rare among fund managers - LAPFF
UK - Only six UK asset managers disclose comprehensive and easily accessible shareholder voting records, according to the Local Authority Pension Fund Forum (LAPFF).
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Müntefering to extend fiscal exemption
[11:15 CEST 26-06] GERMANY – Pensions minister Franz Müntefering has decided to prolong a social tax exemption for deferred compensation plans beyond 2008.
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PPF confirms chair
[16:31 CEST 25-06] UK – Lawrence Churchill has been reappointed as chair of the Pension Protection Fund (PPF).
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Oyak opens to overseas investment
[16:25 CEST 25-06] TURKEY - Oyak, the Turkish Army Pension Fund, is selling its subsidiary Oyak Bank to the Dutch ING Group for $2.67bn (€1.98bn) and opening its investment strategy to energy and foreign assets.
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Devon heads down the infrastructure route
[16:25 CEST 25-06] UK – The £2bn (€3bn) Devon County Council Pension Fund is making its first foray into infrastructure via a new UBS vehicle.
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Pension fund alternatives reach €445bn
[16:21 CEST 25-06] GLOBAL - Almost $600bn (€445bn) of global ‘alternative’ assets are invested by pension funds through the world’s top 99 alternative asset managers, a study by Watson Wyatt Investment Consulting has concluded.
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UBS stake in Julius Baer sold
[16:20 CEST 25-06] SWITZERLAND – Swiss private bank Julius Baer has bought back 5.47% of its shares held by Swiss banking group UBS, while the remaining stake has been sold on the stock market.
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EBRD-backed Slovenian giant goes east
SLOVENIA – Slovenian pension provider Prva is one of the first to be granted a license to sell compulsory supplementary pension products under Romania's newly-created second pillar.
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FRR reviews currency mandate
[11:02 CEST 25-06] FRANCE – The €32bn Fonds de Réserve pour les Retraites (FRR) is reviewing its overlay manager State Street Global Advisors and has awarded three equity mandates.
