All IPE articles in June 2007 (Online) – Page 3
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News
Berkshire chooses actuary
[11:12 CEST 08/06] UK – The £1.4bn (€2.1bn) Berkshire pension fund has chosen Barnett Waddingham as its new actuary.
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Pension funds drive SRI boom in France
[13:15 CEST 08/06] FRANCE – Socially responsible investment (SRI) by institutions more than doubled in France last year.
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Cardano’s UK recruitment drive continues
[16:54 CEST 08/06] UK – Cardano Risk Management is continuing its UK recruitment drive with the appointment of a new chief financial officer and yet another Hewitt consultant.
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AMB Generali scheme hit by 82% decline in new business
[16:55 CEST 08/06] GERMANY – A €345m multi-employer pension fund run by German insurer AMB Generali saw new business decline sharply in 2006 because of the loss of its privileged tax position above another form of pensions vehicle.
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“We don’t believe in LDI” – Munsters
[16:55 CEST 08/06] NETHERLANDS – The €212bn Dutch pension fund ABP says it does not believe Liability Driven Investments should be included in its new strategic investment plan.
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Mercer calls for earlier selection input
[16:57 CEST 08/06] EUROPE - Pension funds seeking real estate fund managers need to get involved in selection process discussions at an earlier stage because the bespoke nature of mandates is becoming more complicated, according to consultants Mercer.
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Greek government steps in to rescue bond deal
[16:58 CEST 08/06] GREECE/UK – JPMorgan has re-opened its offer until 5pm GMT today to repurchase the scandal-struck Greek structured bonds after the Greek government intervened to save yesterday’s rejected deal.
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Swiss pensions architect quits board after questions
[17:05 CEST 08/06] SWITZERLAND – Professor Carl Helbling, one of the architects of Switzerland’s corporate pension system, has abandoned his board seat at a Swiss pension fund following questions about his involvement in the attempted sale of a fund affiliation.
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AFM appoints new chairman
[10:59 CEST 11/06] NETHERLANDS – Former Dutch health minister Hans Hoogervorst will succeed Arthur Docters van Leeuwen as chairman of the Financial Markets Authority (AFM).
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IORP review will include solvency - McCreevy
[12:58 CEST 11/06] EUROPE – A review of the IORP directive starting next year will consider a solvency system for pension arrangements, Charlie McCreevy, EU commissioner for Internal Market and Services, told a conference on Friday.
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IPE QUEST: Lærernes in Japan search
[15:50 CEST 11/06] DENMARK – The DKK24.5bn (€3.3bn) Danish Teachers' Pension and Life (Lærernes Pension) is looking for a Japanese equities manager using IPE-QUEST.
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German state pension drops below OECD average
[15:51 CEST 11/06] GERMANY – The maximum state pension benefit in Germany will fall below the average for 30 OECD countries because of government reforms enacted earlier this century, according to a new study by the Organisation for Economic Cooperation and Development (OECD).
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Institutional run on SNS's micro-credit fund
[15:51 CEST 11/06] NETHERLANDS – Dutch bank SNS Reaal has decided to re-open its micro-credit investment fund because of unexpectedly high demand from institutional investors.
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Greek intervention bonds JP Morgan deal
[15:56 CEST 11/06] GREECE – JP Morgan and the four pension funds involved in the disputed bond deal have reached a buy-back agreement.
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The Pensions Trust makes a £200m bond with RLAM
[15:57 CEST 11/06] UK - Royal London Asset Management (RLAM) has won a mandate to manage £212million (€312.5m) in fixed income securities for The Pensions Trust.
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Mercer seeks 30 consultants for pension risk group
[15:59 CEST 11/06] EUROPE – Mercer is pooling its accounting, funding and investment expertise in a European Financial Strategy Group (FSG) to advise corporate clients on pension fund risks.
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Conservative German fund raises equity exposure
[13:04 CEST 12-06] GERMANY – PKDW, a €1.1bn pension fund traditionally known for investing heavily in fixed income, has raised its exposure to equities and made an inaugural investment in private equity.
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AP7 to seek new tenders as Carnegie wins equity deal
[13:17 CEST 12-06] SWEDEN - AP7, the Swedish national fund for the PPM first pillar pension system, has appointed Stockholm-based Carnegie for a second pure alpha equity overlay mandate and will soon seek additional managers in the Asian and passive sectors.
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Pension fund interest in private equity rises 26%
[16:51 CEST 12-06] EUROPE – Private equity firms in Europe raised a record sum of €112bn in 2006, an increase of 56.4% from the year before, and pension funds contributed more than ever to this growth.
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Kensington and Chelsea asks Capita to administer pensions
[16:52 CEST 12-06] UK - Capita Hartshead has been given the contract to handle the pensions administration for the Royal Borough of Kensington and Chelsea pension fund.
