All IPE articles in June 2008 (Online) – Page 7
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News
ING Penzijní sees profit falls 17.7%
[16:20 CEST 20-06] CZECH REPUBLIC – ING Penzijní fond achieved a net profit of CZK 509.6m (€21.2m) in 2007 - a drop of almost 18% compared to the previous year.
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OECD queries SWF future spending plans
[16:45 CEST 20-06] UK – The Organisation for Economic Cooperation and Development (OECD) has questioned whether sovereign wealth funds are likely to be as willing to continue investing in the finance and real estate market over the coming years following the recent surge of credit crunch-related deals, as officials argue ...
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Inadequate DC income feared over buyout
[16:50 CEST 20-06] UK – Institutional investors are more concerned that defined contribution (DC) plans will provide an inadequate income for retirement than the possibility the success of pension buyouts will shrink the investment industry, Watson Wyatt has revealed.
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News
Dutch fund seeks European high yield
13:45 CEST 23-06] NETHERLANDS – A Dutch pension fund has announced it is searching an active Euro high yield manager for an $80m (€52m) pan-Europe debt mandate, using IPE-Quest.
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News
Icelandic insurer assets drop to €110m
[14:45 CEST 23-06] ICELAND – Profits at Icelandic life insurance companies fell more than ISK 200m to ISK1.3bn (€10.1m) in 2007 and the total assets of the sector now stand at just ISK13.8bn, figures from the Icelandic Financial Supervisory Authority (FME) have revealed.
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News
Parliament approves use of pensions assets for housing
[15:30 CEST 23-06] GERMANY – Germans saving in the "Riester-Rente" are now allowed to take all the money saved, including the state subsidies, and use it to finance the purchase of a personal home.
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NewsBovis Lend Lease to close defined benefit scheme
[16:40 CEST 23-06] UK – Bovis Lend Lease has confirmed it is proposing to close the final salary scheme of the UK Bovis pension scheme on the basis that the costs of the fund are "no longer sustainable".
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NewsNew classification to overhaul funds
[16:35 CEST 23-06] EUROPE – The European Fund and Asset Management Association (EFAMA) has unveiled a new classification for investment fund which it hopes will cope with the growth of evolving fund strategies by categorises funds based on their underlying portfolio structure and holdings.
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NewsCardiff seeks actuarial services
[16:45 CEST 23-06] UK – Cardiff County Council has issued a tender for a new provider of actuarial services for the Cardiff and Vale of Glamorgan local authority pension scheme.
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News
Firms seeking buyout rises to 35%
[16:50 CEST 23-06] UK – Over a third of UK companies is looking to buyout some or all of the pension liabilities and insurers should raise more capital to meet demand, according to a survey by PriceWaterhouseCoopers (PwC).
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News
Pension funds devour alternatives despite fees
[16:55 CEST 23-06] GLOBAL – Alternative assets managed on behalf of pension funds by the 99 largest investment managers shot up 40% in 2007, but managers need to adjust their towering fees, warns investment consultant Watson Wyatt.
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NewsNorway consults on ethical pension guidelines
[17:05 CEST 23-06] NORWAY – The Norwegian Ministry of Finance has issued a public consultation on the evaluation of ethical guidelines for the Government Pension Fund – Global, which highlights potential changes such as introducing a 'cut-off' point for active ownership discussions.
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News
Fund seeks market neutral strategy
[13:35 CEST 24-06] EUROPE – A continental European pension fund is looking for a discretionary fundamental equity market neutral strategy, using IPE-Quest.
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News
IMF tells Austria to 'ease investment restrictions'
[14:00 CEST 24-06] AUSTRIA – Regional restrictions on equity exposure in third-pillar pension vehicles might be detrimental to the funds' performance, the International Monetary Fund (IMF) has suggested.
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News
BMW in discussions over UK pension costs
[14:30 CEST 24-06] UK – BMW has entered into discussions with employee representatives on possible methods to reduce the cost of future service benefits in its UK defined benefit (DB) scheme following the results of its latest actuarial valuation.
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News
Basque Country looks at territorial schemes
[15:00 CEST 24-06] SPAIN – A delegation of Basque Country representatives is examining two models of territorial pension funds with the aim of creating a single scheme for all its governmental departments.
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NewsCost-cutting to force Danish pensions mergers
[15:30 CEST 24-06] DENMARK - Denmark is likely to see a wave of mergers between pension funds in the next few years as smaller players jostle to cut costs, according to officials at Denmark’s giant ATP pension fund.
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News
Hermes wins EMG delay at ASMI
[16:40 CEST 24-06] UK/NETHERLANDS – Hermes, the wholly-owned fund manager of the BT Pension Scheme, and other shareholders have used their collective power to force Dutch technology firm ASMI to delay a planned extraordinary shareholder meeting (EGM) being held next month.
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NewsCorporate fund taps into Asia
[17:00 CEST 24-06] EUROPE – A corporate continental European pension fund wants to invest in Asian large-cap emerging market equities via new managers, and is conducting a search using IPE-Quest.
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NewsPension opt-out ‘inducements’ to be outlawed
[17:00 CEST 24-06] UK – The UK government is making changes to the Pensions Bill which will prevent employers from encouraging or forcing employees to opt out of pensions saving.
