All IPE articles in June 2008 (Online) – Page 5
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News
APK turns to alternatives
[15:00 CEST 17-06] AUSTRIA – The €2.4bn Austrian multi-employer Pensionskasse APK is looking for alternatives to “level out increasing volatility in the current market environment”, the fund's head Christian Böhm told IPE today.
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Eurizon holds onto Italian pension mandates
[12"15 CEST 17-06] ITALY - Eurizon Capital, the asset management business of Intesa Sanpaolo, has secured another mandate from an existing blue-chip clients to manage the Eurofer railway workers' scheme, at the same time as holding on the fixed-income portfolio it runs for Fonchim, the Italian chemical workers' pension scheme.
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Oyak sells private pension division
[11:35 CEST 17-06] TURKEY – Oyak, the Turkish Army Pension Fund, has sold its private pension subsidiary Oyak Emeklilik for €110m to Dutch financial group ING.
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ERAFP signs new president
[11:20 CEST 17-06] FRANCE - Jean-François Rocchi has been named this morning as president of France’s second-largest pension fund, the civil service supplementary pension scheme known as l’établissement de retraite additionnelle de la fonction publique (ERAFP).
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Talking point: Rows resurface over Solvency II (updated)
TALKING POINT EUROPE - There is widespread debate about whether a Solvency II-type arrangements should be placed on occupational pension funds, following fresh comments from French government and Dutch pension fund officials among others last week.
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Pension communication needs interactive kick
[17:00 CEST 16-06] NETHERLANDS – Pension funds need to transform the way they communicate with their members by appealing to the social DNA today’s fifty-somethings and the ever expanding computer game generation demanding interactivity.
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Rights issue protagonist quits UBS
[16:50 CEST 16-06] SWITZERLAND – Swiss pension fund Profond has sold its shares in Swiss bank UBS citing “mistrust” in the new management, just months after arguing smaller shareholders should be allowed to invest in the firm.
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BT denies plans to close DB scheme
[16:30 CEST 16-06] UK – BT has denied it is planning to close any of its pension schemes, including the £37.3bn (€47.4bn) defined benefit BT Pension Scheme, following a threat of strike action from unions over the firm's pension review.
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AEGON sets top Czech return rate
[16:30 CEST 16-06] CZECH REPUBLIC – AEGON pension fund has set a rate of return of 4.5% for 2007 - more than two percentage points higher than the largest Czech pension fund Ceske Pojistovny (PFCP).
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Merseyside tenders European equities mandate
[16:20 CEST 16-06] UK – The £4.3bn (€5.5bn) Merseyside Pension Scheme is seeking an European equity manager to run a portfolio valued at approximately £135m.
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Danish pension charges could spark tax rise
[16:00 CEST 16-06] DENMARK - The Danish pensions industry could see some of its tax advantages cut if the government accepts a recommendation by the country’s Competition Commission.
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'Fiscalise' Dutch first pillar – Commission Bakker
[15:45 CEST 16-06] NETHERLANDS – The Labour Participation Commission, appointed by minister of social affairs Piet Hein Donner, today suggested the Dutch state pension (AOW) should be overhauled as one of its key recommendations.
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Fonchim expands manager base on asset growth
[11:00 CEST 16-06] ITALY - Fonchim, the Italian chemical workers' pension scheme with more than €1.9bn under management, is looking for new managers for around €550m of assets.
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News
IAMAs crown excellence in asset management
[16:55 CEST 13-06] EUROPE – Eleven Europe-based asset management firms, including Petercam Asset Management and Capital International, were rewarded last night for excellence in institutional asset management offerings, at the inaugural IPE-EDHEC Institutional Asset Management Awards.
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News
Royal Mail given "last chance" to avoid strike threat
[16:35 CEST 13-06] UK – Royal Mail could face further pension strikes unless it provides a "satisfactory response" to concerns over pension changes, the Communication Workers Union (CWU) has warned.
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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.
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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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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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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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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.
