All IPE articles in June 2008 (Online) – Page 4
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Wednesday people roundup
[14:00 CEST 11-06] GLOBAL: People roundup – Pimco, Edhec, SAM, Hymans Robertson, JOHCM, SPC, Barings, Mercer, Aon, B&CE, S&P.
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HSBC consults on DB cost-sharing options
[14:30 CEST 11-06] UK – HSBC is consulting members on a series of options for employees to share the costs of maintaining its defined benefit (DB) scheme, including introducing employee contributions of up to 5% by 2012.
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Norway warns US regs could deter foreign investors
[15:00 CEST 11-06] NORWAY – The Norwegian Ministry of Finance has warned the US that proposed regulations on foreign investment could have the "side-effect of deterring foreigners from investing in the US".
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New Italian government alters pension plans
[16:40 CEST 11-06] ITALY - Maurizio Sacconi, welfare minister of the Italy’s new right-wing government, has unveiled plans for the Italian pension system which may result in an open battle with the country's trade unions over the coming months.
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Dutch metal funds roll out joint SRI policy
[16:55 CEST 11-06] NETHERLANDS – The two Dutch pension funds for the metal industry, the €33bn PMT and the €21.5bn PME, today launched a joint social responsible investment policy.
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Pensioner income increased by £10 in 2006/07
[11:00 CEST 12-06] UK – Over 50% of pensioners received an average income of £156 a week from occupational pension schemes in 2006/07 - a rise of just £10 a week on the previous year, according to UK government figures.
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Regulatory framework sufficient - Austrian FMA
[12:00 CEST 12-06] AUSTRIA – There are no plans to tighten Austrian pension fund regulations in the wake of the subprime crisis, the supervisory body FMA confirmed today.
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'No need for new SRI commission' – Hummels
[13:00 CEST 12-06] NETHERLANDS – Harry Hummels, author of influential guidelines for responsible investing (SRI) for pension funds, says there is no need to launch another practical commission to measure how schemes have improved their SRI-practices.
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Northumberland LGPS loses £41m in Q1
[13:30 CEST 12-06] UK – Northumberland County Council pension fund lost almost £41m (€52m) from the value of its assets in the first three months of 2008.
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Hertfordshire extends global equity portfolio
[14:00 CEST 12-06] UK – Hertfordshire County Council pension fund has appointed three new global equity investment managers on a £9.4m (€11.9m) contract, which includes a replacement for Capital International.
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Dutch support emerges for Solvency II U-turn
[17:00 CEST 12-06] NETHERLANDS – The French-initiated reversal earlier this week on the European solvency framework, known as Solvency II, continued at the Pensioen Forum 2008 in Rotterdam, as experts have pleaded for a single solvency framework.
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Cresswell leaves Lehmans’ pensions team
[17:05 CEST 12-06] EUROPE – Nigel Cresswell, head of the Lehman Bros' pensions advisory team for Germany and Switzerland, has resigned after just a year with the firm, IPE has learnt.
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Survey reveals 'unimaginative' ETF use
[17:10 CEST 12-06] EUROPE – Exchange Traded Funds (ETFs) are not successfully customised, while advance features are underused, a survey of over 100 institutional investors has found.
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ATP opposes EFRP in Solvency II debate
[14:45 CEST 13-06] EUROPE - Lars Rohde, chief executive of the DKK349.3bn (€46.8bn) Danish ATP pension fund, today defended calls for Solvency II requirements to be applied to pension funds, by arguing it is a way of making it clear “risk is in short supply”.
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KPMG places new DC scheme with Aegon
[15:50 CEST 13-06] NETHERLANDS - Financial consultant KPMG has contracted insurer Aegon to manage its pension scheme and, at the same time, has changed its arrangements for active participants from defined benefit to defined contributions.
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Danish returns dropped 75% in 2007
[16:05 CEST 13-06] DENMARK - Denmark’s pension schemes and life insurers suffered a 75% fall in investment returns last year, according to figures from the Danish Financial Supervisory Authority.
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Recession and collapsing banks are good – Faber
[16:15 CEST 13-06] GLOBAL – Swiss-born investment manager Marc Faber believes the recent turbulence of the capital market are a healthy lesson in teaching investors to be more careful when choosing their investments.
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Czech fund improves performance
[16:20 CEST 13-06] CZECH REPUBLIC – Ceske sporitelny (PFCS), the second-largest Czech pension fund, saw its profits double in 2007 and has consequently set the return rate at 3.07% for the last year compared to 3.04% the year before.
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Hermes outsources BTPS custody to Northern Trust
[16:25 CEST 13-06] UK – Hermes Fund Managers has outsourced its middle-office investment operations, custody and fund administration to Northern Trust.
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Diverting tax reliefs to state pension is "unsound"
[16:30 CEST 13-06] IRELAND – Green paper proposals to reduce or eliminate tax incentives for pensions and divert the money into a higher state pension are "fundamentally unsound", according to the Irish actuarial consultancy Life Strategies.
