All IPE articles in June 2009 (Online) – Page 7
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News
OECD fears pensions backtrack in economic pressure
[16:00 CEST 23-06] GLOBAL – The Organisation for Economic Cooperation and Development (OECD) has warned governments should not to try and deal with short-term challenges in economic conditions by postponing pension reforms as the longer-term impact could be more damaging further down the road.
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Balanced pension funds pull back short-term gains
[16:25 CEST 23-06] UK – There is now evidence of improvement to three-year equity returns to pension fund assets, as the latest BNY Mellon CAPS pooled pension fund figures show, in the main, assets have continued to recover.
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European investors display manager search activity
[16:45 CEST 23-06] EUROPE – Three institutional investors, including two continental European pension funds, are looking to hire asset managers for specialist equity mandates, using IPE Quest.
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Delegates told crisis shows Swiss systemic weaknesses
[17:00 CEST 23-06] SWITZERLAND – The financial crisis should be seen as a chance to amend the Swiss pension system, delegates at a retirement provision conference in Zurich have been told.
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TPR warns of need for 'prudence' in funding
[17:10 CEST 23-06] UK – The Pensions Regulator (TPR) has stressed the importance of "prudent" funding levels for pension schemes, and warned that while flexibility is available in recovery plans the pension scheme and members "should not be disadvantaged".
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PPF levy remains stable, for now
[17:10 CEST 23-06] UK – The Pension Protection Fund (PPF) has honoured previous commitments by confirming the levy for 2010/11 will be £700m (€817.2m), indexed to wages, although it warned schemes the levy may rise in the future to allow the PPF to meet its commitments.
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ONS says 2012 reforms may double DC membership
[17:20 CEST 23-06] UK – The UK's 2012 pension reforms could double the membership of defined contribution (DC) schemes, although questions remain over whether they will be capable of providing sufficient retirement income in the future, the Office of National Statistics (ONS) has claimed.
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Lords warn tax relief cut risks pension damage
[17:20 CEST 23-06] UK – A parliamentary committee has warned that changes to the UK pension tax relief system for higher earners undermine existing rules which were overhauled in 2006 and risk sapping confidence by removing the "simplicity, consistency and certainty" around the tax system.
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News
Wednesday people roundup
[14:00 CEST 24-06] GLOBAL – AEIP, EFAMA, Newscape Capital Group, Liontrust, Gartmore, Cordea Savills, Aviva Investors, Xafinity, Cheyne Capital Management
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News
Smaller pension funds demonstrate less sophistication
[15:30 CEST 24-06] NETHERLANDS - The strategic portfolio choice of small and medium-sized pension funds is often based on coarse and less sophisticated approaches than larger pension funds, researchers have claimed.
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Aegon gains full control of Romanian pension business
[15:45 CEST 24-06] NETHERLANDS - Dutch insurer Aegon has gained full control of the Romanian pension business BT Aegon by completing the acquisition of a 50% stake in Banca Transilvania’s.
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News
APG deems ESG essential in IT contract
[16:15 CEST 24-06] NETHERLANDS – APG Group, the asset management arm of the ABP pension fund, has signed a 10-year deal to have Cofely Netherlands look after its IT as the running of its new data centre in Masstricht has a strong environmental and social governance focus.
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News
Swiss pensionskasse born out of buffer concerns
[16:30 CEST 24-06] SWITZERLAND – The local railway operators for the Matterhorn Gotthard Bahn and the Gornergrat Bahn have decided to leave the Ascoop fund to create their own pensionskasse.
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News
Budget cuts blamed for fall in pensions motivation
[16:40 CEST 24-06] UK – Over three-quarters of UK companies believe the plan to reduce higher rate tax relief on pensions has reduced motivation to provide both defined benefit (DB) and defined contribution (DC) schemes, research by PricewaterhouseCooper (PwC) has revealed.
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News
Clwyd tenders hedge fund portfolio
[16:45 CEST 24-06] UK – Flintshire County Council is seeking an investment manager to run a specialist £40m (€47m) hedge fund portfolio for the Clwyd Pension Fund.
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Islington awards UK bonds mandate
[16:50 CEST 24-06] UK – Islington Council has appointed Standard Life Investments to run a UK active bond mandate worth up to £150m (€175m) to its local government pension fund.
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News
Crisis set Dutch schemes back by €94bn - DNB
[14:00 CEST 25-06] NETHERLANDS - Dutch pension funds have lost a total of €94bn since their combined assets peaked at the end of the first quarter of 2008 at €763bn, the pensions regulator De Nederlandsche Bank has revealed.
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News
German pensionskasse delivered 4.8% in 2008
[14:30 CEST 25-06] GERMANY – VVaG, the German pensionskasse for various cooperatives, managed to grant its members 4.8% interest for 2008 and generate a positive return as the pension fund held no exposure to equities.
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News
USS goes in search of private equity expertise
[15:00 CEST 25-06] UK – USS, the UK’s second-largest defined benefit pension scheme, is expanding its alternative investments team again but is this time turning its attention to private equity.
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Pension funds criticise PwC's Dutch costs study
[16:00 CEST 25-06] NETHERLANDS - The trade bodies of Dutch pension funds have criticised the findings of a comparative study by PrciewaterhouseCoopers on administration costs of collective pension schemes by insurers and pension funds.
