Latest – Page 256
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Actively-managed assets underperformed - Hewitt
[16:15 CET 10-02] NETHERLANDS - Most actively-managed assets underperformed last year because of the additional costs charged over passive strategies, Hewitt Associates has suggested.
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Siemens fund taps into sponsor's venture capital FoF
[15:15 CET 10-02] GERMANY – The German pension fund of Siemens AG, Europe's largest engineering company, and two insurers will provide the first $100m (€78m) for the company’s first venture capital fund of funds.
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IPE winner delivers positive return
[12:00 CET 10-02] NETHERLANDS - De Eendragt Pensioenfond, the pension fund-turned insurance company and winner of the highest accolade at last year’s IPE Awards, has bucked the current trend in Dutch pensions investment by delivering a 4.4% positive return in 2008.
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DB sponsors fear scheme impact
[16:55 CET 09-02] UK – Research suggests nine out of 10 companies with a defined benefit (DB) pension fund are worried about the impact their scheme will have on the business.
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Co-operative could provide pensions solace – Santing
[16:35 CET 09-02] NETHERLANDS – Dutch pension funds should join forces as co-operatives to prevent being forced further into short-term thinking, according to Gerald Santing, former director of the Netherlands Authority of the Financial Markets (AFM).
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Merseyside admin contract awarded to Heywood
[16:25 CET 06-02] UK – The £3.7bn (€4.2bn) Merseyside Pension Fund has appointed Heywood to provide pension administration and payroll services.
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Measure to show the shape of corporate pensions
[17:20 CET 04-02] UK – Consulting firm Hymans Robertson has unveiled what it hopes will become a recognised ‘safe’ method for assessing pensions risk to a company’s financial status.
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Pensions Board updates DB funding standard rules
[15:45 CET 04-02] IRELAND – The Irish Pensions Board has issued revised guidelines for pension schemes wanting to extend recovery periods for scheme funding past 10 years.
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Global pension assets drop 18% in 2008
[16:30 CET 03-02] GLOBAL – Economic conditions have resulted in the largest annual decline in global pension fund assets “for many years”, as the total value of pension pots fell 18% in 2008 to $25trn (€19.6trn), according to research from International Financial Services London (IFSL).
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Pension funds expect hedge fund losses
[14:00 CET 03-02] EUROPE - Almost three quarters of surveyed pension funds expect to see a negative net-of-fee performance of more than 5% on their hedge fund investments for 2008, suggests IPE research.
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Merseyside reviews £320m unconstrained bonds
[16:40 CET 02-02] UK – Merseyside pension scheme has issued a tender notice for two fixed income managers to run unconstrained sterling broad market mandates equivalent to 8% of the fund’s assets.
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French reserve fund loses a quarter
[16:20 CET 02-02] FRANCE - The Fonds de reserve pour les retraites (FRR) has revealed its assets decline by 24.8% during 2008.
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Consumer body rallies against recovery plan delay
[15:45 CET 02-02] NETHERLANDS – Consumentenbond, the large Dutch consumers’ lobbying organisation, has spoken out against calls for a more generous recovery period for underfunded pension funds.
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Unite agree Ineos deal as sights turn to Selex
[16:50 CET 30-01] UK – Unite the Union has confirmed the pensions dispute with INEOS over planned changes to the defined benefit (DB) pension scheme is at an end after revised proposals, such as the scheme remaining open to new entrants, were accepted by members.
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Merseyside tenders for transition manager panel
[16:05 CET 30-01] UK – Merseyside Pension Fund has issued a tender to establish a framework list of transition managers who would aid the movement of assets between investment managers following strategy changes.
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ABP bleak on recovery prospects
[16:50 CET 29-01] NETHERLANDS – ABP, the largest Dutch pension fund which today revealed its assets had dropped by €44bn in 2008 to €173bn, has warned signs of a structural recovery on the equity markets are scarce.
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Funds blame bulk of decline on interest rates
[16:40 CET 29-01] NETHERLANDS – Major pension funds have argued up to two-thirds of the decline in their cover ratios, which now hover between 85% and 100%, was because of the steep drop in interest rates.
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L&G wins buy-in as new AUM drops 39%
[16:00 CET 29-01] UK – The Press Association Pension Fund has completed a £60m (€65m) 'buy-in' of its pensioner liabilities with Legal & General (L&G) at the same time as the insurer revealed its gross new funds under management dropped 39% to £33.1bn in 2008.
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Hewitt replaces Watson as Powys adviser
[15:30 CET 29-01] UK/IRELAND – Powys County Council has appointed Hewitt Associates as the investment adviser for its £280m (€305m) local government pension scheme (LGPS).
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CIPFA outlines changes to LGPS investments
[16:30 CET 28-01] UK – The Chartered Institute of Public Finance and Accountancy (CIPFA) has recommended investment regulations for Local Government Pension Schemes (LGPS) should be "clarified and simplified", by replacing investment limits with a series of "requirements".
