All IPE articles in June 2007 (Online) – Page 6
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News
Parliament seeks trustee advice
[16:09 CEST 19-06] UK – Trustees of the £280m (€414m) Parliamentary Contributory Pension Fund of the House of Commons are looking for investment advice.
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Boots trustees win £1bn in takeover battle
[16:13 CEST 19-06] UK – Pension fund trustees of pharmacy group Boots have agreed a deal with AB Acquisitions which should see the fund receive a significant cash injection when the company is bought.
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VSE looks further east for new indices
[16:38 CEST 19-06] AUSTRIA/CEE – The Vienna stock exchange is looking to create new indices for eastern European countries.
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Reuters to review Swiss DC fund
[16:45 CEST 19-06] SWITZERLAND/UK – International news organisation Reuters says it wants to review the investment mix of its new Swiss defined contribution (DC) pension fund.
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Wednesday people roundup
[10:53 CEST 20-06] GLOBAL – Northern Trust, BoNY, Mercer, JPMorgan, Watson Wyatt, RCM, Managing Partners, New Star, ETF, Henderson, Punter Southall.
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Ellison attacks 'destructive' CEIOPS
[10:54 CEST 20-06] EUROPE – Robin Ellison, the former chairman of the National Association of Pension Funds (NAPF), has accused the Committee of European Insurance and Pension Supervisors (CEIOPS) of operating as a cartel plotting against pan-European pensions.
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BVI warns CGT may hurt German competitiveness
[13:02 CEST 20-06] GERMANY – Fund industry association BVI has warned the competitiveness of Germany as a financial centre may suffer unless the government amends a planned capital gains tax (CGT) on funds.
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AP Pension CIO leaves
[16:55 CEST 20-06] DENMARK - AP Pension’s chief investment officer Jan Samsø has left the pension fund, and will be replaced in September by Claus Christjansen, a spokesman for the occupational pensions provider said.
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Delta Lloyd buys Dutch asset manager
[16:56 CEST 20-06] NETHERLANDS – Delta Lloyd, the Dutch subsidiary of Aviva, is acquiring Cyrte Investments.
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Pension funds seek drug firms transparency
[16:57 CEST 20-06] GLOBAL – Two of the largest European pension funds USS and ABP are calling on the pharmaceutical industry to address issues such as transparency and access to medicine in order to increase investor value.
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News
More schemes to join Unilever’s FCP fund
[16:58 CEST 20-06] GLOBAL – Anglo-Dutch household goods giant Unilever says more of its global pension funds will join its FCP fund, including its first defined contribution (DC) plan at the end of June.
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Foundations pool to create multi-manager Fondaco
[17:00 CEST 20-06] ITALY - Three Italian foundations are joining forces to set up a Luxembourg-based pooled investment vehicle, in a bid to win economies of scale.
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News
Targets missed on absolute returns
[11:03 CEST 21-06] EUROPE - Absolute return funds have failed to achieve their own investment objectives in the last 12 months, according to research conducted by funds ratings agency Standard & Poor’s.
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Investors forced to reveal intentions on Dutch stocks
[13:07 CEST 21-06] NETHERLANDS – Shareholders will in future have to announce when they hold 3% in a Dutch listed company, instead of the current 5%, and disclose why they are holding them, the Netherlands government has revealed.
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News
PensionDanmark sees agricultural growth
[17:08 CEST 21-06] DENMARK - Labour market pension fund PensionDanmark has gained 2,500 new members, all employed in the Danish agricultural machinery dealing sector.
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Swiss pension fund downplays deficit
[17:09 CEST 21-06] SWITZERLAND – The head of a pension fund (Pensionskasse) for the Swiss canton of Solothurn has played down the significance of the scheme’s CHF563m (€338m) funding deficit.
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FSA reduces pension deficit by 12.5%
[17:09 CEST 21-06] UK – The Financial Supervisory Authority (FSA) spent £26m (€38.7m) last year in order to reduce the deficit in its final salary pension plan by £11.4m to £79.9m.
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Portability seeks amendments after MEPs' 'OK'
[17:10 CEST 21-06] EUROPE – The European Parliament has approved a watered-down version of the portability directive but the paper will now go back to the Commission for more amendments in order to get the Council's approval.
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Heubeck forms pensions venture with Sparkassen
[17:10 CEST 21-06] GERMANY – Heubeck AG, Germany’s best-known actuary, has formed a joint venture with state-owned savings banks (Sparkassen) to provide corporate clients of the banks with actuarial and pension administration services.
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UN warns of "destabilizing" effect of pension funds
[17:11 CEST 21-06] GLOBAL – The United Nations (UN) has voiced concern about the impact growing activity of institutional investors, such as pension funds, might have on economies.
