All IPE articles in June 2008 (Online) – Page 8
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NewsWednesday people roundup
[13:00 CEST 25-06] GLOBAL – People roundup: Bank of England, Ermitage, State Street, CAAM, Watson Wyatt, Faculty of Actuaries, NorthernTrust, Schroders, Morley, Toscafund, Pyramis, GLG Partners, Mercer, Helix Financial, CB Richard Ellis
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News'Keep pension reserves on books' - consultant
[13:30 CEST 25-06] AUSTRIA – Consultancy Arithmetica recommends Austrian companies to keep their pension reserves unfunded for now because of the market turbulences.
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'Disappointed' Fuhr goes it alone
[14:30 CEST 25-06] UK – Deborah Fuhr will now work independently, after the “disappointing” decision confirmed by Morgan Stanley last week to disband her renowned Exchange Traded Funds (ETFs) research, team in its drive to cut jobs.
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NPRF targets Irish infrastructure
[14:45 CEST 25-06] IRELAND – The National Pension Reserve Fund (NPRF) has reaffirmed its desire to invest at least €200m in domestic public sector projects, particularly as there is likely to be a shortage of funds for these projects going forward.
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NewsTalking Point: Responsible investment or political interference?
TALKING POINT – Anglo American, the mining giant, issued a statement today on the back of widespread criticism about its plan to invest £200m ($400m) in a platinum mine in Zimbabwe.
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PGGM: 'ETFs have serious drawbacks’
[16:00 CEST 25-06] NETHERLANDS – Rob Radecker, head of beta at PGGM, the asset manager of the €88bn Dutch health care fund, believes exchange-traded funds (ETFs) have “serious drawbacks” for large pension fund investors.
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NewsPensions Board action pushes compliance
[16:15 CEST 25-06] IRELAND – The Irish minister for social and family affairs has claimed four successful prosecutions by the Pensions Board in 2007 should "send a message" not to take risks with other people's money.
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Dutch funds see equities fall €32bn
[16:30 CEST 25-06] NETHERLANDS – Dutch pension funds saw the value of their equity portfolios drop by another 6% in the first quarter of 2008 because of continued unrest on the financial markets, the Dutch central bank DNB said today.
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Southampton Uni appoints Barnett Waddingham
[16:30 CEST 25-06] UK – The University of Southampton has appointed Barnett Waddingham to provide consultancy services for its pension fund for non-academic staff.
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Accounting reform to 'double pension burden'
[11:00 CEST 26-06] GERMANY – Changes to the German accounting standards HGB will increase pension obligations significantly, according to Raimund Rhiel, chief executive at Mercer Germany.
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NewsCharity Pensions Trust attacks increased levy (updated)
[12:45 CEST 26-06] UK – The Pensions Trust has revealed it is facing an extra £850,000 (€1.1bn) levy on its schemes, after the Pension Protection Fund (PPF) changed its scaling factor for calculating its risk-based levy.
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German investor mulls Asia pacific replacement
[13:00 CEST 26-06] GERMANY – A German corporate investor wants to launch a €100m Asia Pacific equity all/large mandate and is looking for managers, using IPE-Quest.
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Call for pensions tax relief to fund Irish universal pension
[13:30 CEST 26-06] IRELAND – Ireland should significantly reduce tax incentives for occupational and private pension schemes in order to pay for a higher, and universal state pension, a joint paper from Trinity College and the think-tank for Action on Social Change (TASC) has claimed.
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Illiquid assets are greatest risk – Mercer
[14:00 CEST 26-06] UK - Tim Gardener, the former global head of consultancy firm Mercer and now chief global investment strategist, warns illiquid assets are the greatest future risk for investors in an era of climate change.
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RailPen 'unsure' it can meet PRI criteria
[14:30 CEST 26-06] UK – RailPen Investments, the investment management arm of the £20bn (€25bn) UK Railway pension fund, has yet to join the UN Principles of Responsible Investing (PRI) because of uncertainty about its ability to meet the standards.
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Norwegian local authority to build new scheme
[15:00 CEST 26-06] NORWAY – The Norwegian municipality of Ski has issued a tender for the provision of services to set up a new occupational pension scheme.
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Atkins cuts deficit to £213m
[15:30 CEST 26-06] UK – WS Atkins has revealed its defined benefit (DB) pension deficit has reduced to £213.1m (€269m) as a result of more than £37m in additional contributions during 2007.
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CFA unveils global code of conduct
[16:00 CEST 26-06] GLOBAL – The Chartered Financial Analysts Institute is seeking to persuade all individuals who sit on the governing bodies of pension funds to improve governance by adhering to a global code of conduct for pension schemes.
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'Conservative' investing delays deficit recovery
[12:00 CEST 27-06] UK – Implementing a "conservative" investment strategy for the average defined benefit (DB) scheme could mean it takes an extra 16 years to become fully funded, a research paper from the Association of British Insurers (ABI) and Fathom Consulting has revealed.
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Hillingdon shifts to passive investments
[12:30 CEST 27-06] UK – The London Borough of Hillingdon is seeking a multi-asset passive manager for up to 50% of its fund, after the value of its pension scheme dropped by more than £30m (€37.9m).
