All IPE articles in June 2009 (Online) – Page 8
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News
DC recovery needs another nine months – Aon
[16:30 CEST 25-06] UK – Investments in defined contribution pension funds may have seen positive returns for three months in a row but it will take at least another nine months of similar returns to pull assets back to 2007 levels, according to analysis by Aon Consulting.
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LAPFF M&S resolution garners more support
[16:40 CEST 25-06] UK – The Local Authority Pension Fund Forum (LAPFF) has received backing from proxy voting advisory services for its shareholder resolution to appoint an independent chair to the board of retailer Marks & Spencer by July next year.
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Pension funds pick Thames River for multi-manager
[16:45 CEST 25-06] UK – Thames River Capital has been awarded three institutional mandates, including two UK-based pension funds, for its multi-manager services.
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IORPs should not 'over-react' to crisis
[13:00 CEST 26-06] EUROPE – The impact of the current economic crisis has resulted in closer scrutiny by many European supervisors of occupational pensions and the shared message appears to be pension funds should not over-react, the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has said.
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Investment tide turning towards Japan?
[13:30 CEST 26-06] GLOBAL - Fund managers and investors are turning their attention to the Japanese equity market again as some officials claim the economic downturn means larger Japanese firms may be better equipped to meet the pressures than in other countries.
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Babcock confirms longevity deal with Credit Suisse
[14:00 CEST 26-06] UK – Babcock International has confirmed trustees of its Davenport Royal Dockyard defined benefit (DB) scheme have signed a longevity swap agreement with Credit Suisse to cap £300m (€328m) of its pensioner-in-payment liabilities.
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MPs' pensions deficit is result of lower contributions
[14:30 CEST 26-06] UK – The Parliamentary Contributory Pension Fund (PCPF) for members of parliament (MPs) would have been £5m in surplus instead of £50m (€58.6m) in deficit at the last valuation if the government had made the correct contributions, the chairman of the scheme has claimed.
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Edinburgh Uni tenders admin, actuarial and investment
[15:00 CEST 26-06] UK – The University of Edinburgh is re-tendering the administration, actuarial and investment services for its £155m (€181m) Staff Benefits Scheme (SBS).
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EC takes action against Italy, Denmark and Finland
[15:30 CEST 26-06] EUROPE - The European Commission has taken the first step in legal action against Italy over failure to equalise pension ages for men and women in the civil service, while Denmark and Finland have been ordered to amend legislation to stop the discriminatory taxation of foreign pension ...
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Skedsmo appoints Storebrand to pension role
[16:00 CEST 26-06] NORWAY – The municipality of Skedsmo has awarded the contract for its occupational pension scheme to Storebrand, while three other kommunes have re-tendered their pension contracts.
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News
Ascoop’s new fund for employers set on full-funding by 2020
[16:30 CEST 26-06] SWITZERLAND – The multi-employer Pensionskasse for the Swiss public transport and tourism industry is setting up a new fund for those companies, which can afford to commit to reaching full-funding by 2020.
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News
Consultancy merger to create Towers Watson
[10:10 CEST 29-06] GLOBAL – Pensions and investment consultancy giants Towers Perrin and Watson Wyatt have announced plans to merge their operation, in a deal which values the combined operation at $3.5bn (€2.48bn).
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News
Asset managers still fail to address risk
[16:10 CEST 29-06] GLOBAL – Asset managers have yet to implement effective risk management to their practices and product development and could therefore cause further damage to their clients, suggests a study conducted by Ernst & Young, as many risk managers are still not being given the information or access ...
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News
Staffordshire awards currency mandate
[16:15 CEST 29-06] UK – Staffordshire County Council has appointed Record Currency Management to run a specialist active currency overlay for its £1.69bn (€1.99bn) pension fund.
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Icelandic pensions lost 25% net in 2008
[16:30 CEST 29-06] ICELAND - The Pension Fund for State Employees (LSR) and pension fund for nurses (LH), the largest pension fund in Iceland, has reported a net real return of -25.2% in 2008.
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Germany’s largest pensionskasse returns 4.5%
[16:35 CEST 29-06] GERMANY – The €20.1bn BVV Pensionskasse for banks will grant its members 4.5% interest for 2008 as it achieved a positive portfolio return last year.
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News
Nine in 10 delegate engagement to managers
[16:50 CEST 29-06] UK - Almost half of all UK pension funds intend to spend more time scrutinizing the actions of fund managers on engagement issues in the future, as 93% of schemes currently delegate engagement tasks to managers or third parties.
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News
Cologne fund searches for Master-KAG
[17:00 CEST 29-06] GERMANY – The €530m city of Cologne pension fund is looking for an asset manager to take on the role of a Master-KAG, In a bid to "optimise" the fund's asset and risk management.
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USS to invest in evolving hedge funds market
[16:45 CESt 30-06] GLOBAL – The Universities Superannuation Scheme, the UK’s second-largest pension fund, is to begin investing in single strategy hedge funds as officials say they can now get access to the big named brands and corporate governance conditions are improving.
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News
Dutch gov’t urges schemes to invest in local economy
[16:50 CEST 30-06] NETHERLANDS - The government has called on pension funds to contribute to the economic recovery by investing in the Dutch financial sector.
