All IPE articles in June 2007 (Online) – Page 7
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News
France opens way for bonds stripping
[11:00 CEST 22-06] FRANCE – European pension funds can now invest in French inflation-linked government bonds and reduce exposure to interest rate volatility thanks to the introduction of bond stripping.
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BoNY/Mellon appoints 18 directors
[16:21 CEST 22-06] GLOBAL – Nine directors at Bank of New York and Mellon are set to leave as the companies have announced the 18-member board of their joint entity.
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Merseyside pension begins US search
[16:22 CEST 22-06] UK – Merseyside Pension Fund is seeking a passive manager to look after a reformed £320m (€476m) US equity mandate.
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Eurizon Capital gets new CEO
[16:23 CEST 22-06] ITALY – Francis Candylaftis is to become the new chief executive at Eurizon Capital, one of the largest Italian asset management houses.
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Finnish church goes SRI
[16:24 CEST 22-06] FINLAND – The Evangelical Lutheran Church of Finland’s €746m pension fund is looking for one or more active European equity SRI managers, following its new guidelines for responsible investing.
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American asset managers win over Europe
[16:24 CEST 22-06] EUROPE - US-based asset managers saw their business in Europe rise by 18% in 2006 – substantially higher than the wider European market – according to figures compiled for IPE’s Top 400 Asset Managers report.
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NPRF switches Japanese equity mandate
[16:25 CEST 22-06] IRELAND – JP Morgan has lost a €300m active Japanese mandate with the €20.7bn National Pensions Reserve Fund (NPRF).
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IAS19 changes could hit pension deficits
[16:25 CEST 22-06] GLOBAL – Pension schemes’ deficits could be hit after the International Accounting Standards Board (IASB) ratified new rules on the interpretation of the IAS19 accounting standard.
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IPE-QUEST: $50m hedge fund strategy mandate
[11:00 CEST 25-06] EUROPE – A continental European pension fund is looking for an active global equity market neutral manager, using IPE Quest.
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News
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.
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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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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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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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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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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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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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News
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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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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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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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.
