All IPE articles in June 2007 (Online) – Page 6
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News
EU warns Italy TFR impact overestimated
[16:44 CEST 13-06] ITALY – Assets flowing into the newly-created INPS social security institute fund might not bring the expected relief to Italy's tight budget deficit situation, the European Commission has warned.
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PPF to create transition panel
[16:43 CEST 13-06] UK – The roughly £800m (€1.2bn) Pension Protection Fund (PPF) wants to recruit several managers for transition of pension assets.
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Spain confirms 10% in equities proposal
[16:42 CEST 13-06] SPAIN - Spain’s pensions reserve fund is set to put around 10% of its assets into equities, according to Economics Minister Pedro Solbes, though the final conditions for its proposed asset switch will only be agreed in a few months’ time.
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German managers "at disadvantage" in commodities and LDI - Fitch
[13:17 CEST 13-06] GERMANY – Asset managers in Germany are at a competitive disadvantage to interloping foreign houses in the commodities and liability-driven investments (LDI) markets, Fitch Ratings has claimed.
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Wednesday people roundup
[13:14 CEST 13-06] GLOBAL – ING IM, Hansa, BoNY, bfinance, Punter Southall, State Street, SAM, SEI, Bank of Ireland, JPMorgan, Sprenkels & Verschuren, BDO Stoy Hayward, Abbey, Invesco.
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Spanish reserve fund set to move into equities
[16:55 CEST 12-06] SPAIN - The Spanish government has paved the way for the country’s pensions reserve fund to start investing some of its €40bn of assets in equities.
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Dutch schemes consider rejuvenating industrial estates
[16:54 CEST 12-06] NETHERLANDS - Dutch pension funds are showing an interest in investing in the rejuvenation of run-down industrial estates in the Netherlands.
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Oil alone not enough to support ageing Norway, IMF warns
[16:53 CEST 12-06] NORWAY – Reforming early retirement provisions is one of the most pressing issues to ensure a sustainable pension system in the future, the International Monetary Fund (IMF) has told the Norwegian government.
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Swiss pension cuts postponed
[16:52 CEST 12-06] SWITZERLAND – The second chamber of the Swiss parliament criticised its fellow parliamentarians for rushing a reform of the pension system.
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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.
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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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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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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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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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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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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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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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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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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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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.
