All IPE articles in March 2009 (Online) – Page 4
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NewsATP to invest over €400m in timber
[17:20 CET 20-03] DENMARK – ATP has revealed it is planning to invest up to DKK3bn (€402m) in forestry investments for its portfolio, and has made the first step with the DKK180m acquisition of a piece of US forestry.
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NewsSocial security fund lost 18%
[20-03] SWITZERLAND – The AHV/AVS Swiss Social Security pension fund saw its assets under management fall by 18.2% in 2008 and is now reviewing the timeframe within which it makes asset allocation decisions as a result.
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NewsQuest begins to find commodities and GEMs
[17:05 CET 20-03] IPE QUEST – A Swiss pension fund is looking CHF400-600m (€261-392m) in commodities in a global mandate sought through IPE-Quest.
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NewsBLPK returns -14.78%
[16:55 CET 20-03] SWITZERLAND – The Basellandschaftliche Pensionskasse (BLPK) saw its assets plunge to CHF4.3bn (€2.9bn) from CHF5.2bn the year before following a return of -14.78%.
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NewsNewham makes first move towards diversified alternatives
[16:50 CET 20-03] UK – The London Borough of Newham pension fund is planning to allocate approximately 10% of its assets in a diversified alternatives strategy and has now taken the first step towards appointing a manager.
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NewsING to boost DB schemes by €814m
[16:30 CET 20-03] GLOBAL – ING Group, the Netherlands-headquartered life and pension provider, is boosting its own pension fund with an extra contribution worth €814m this year in a bid to help clear the company’s pension deficit.
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NewsIndividual trustees at more risk of legal action
[17:10 CET 19-03] UK – A recent legal judgement could mean individual trustees are more at risk of legal action from scheme members than corporate trustees, Wragge & Co has warned.
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NewsPPF consults on solution to s161 concerns
[17:10 CET 19-03] UK – The Pension Protection Fund (PPF) is consulting on a solution to address concerns regarding its powers to “disclaim” an investment contract when a scheme enters the PPF.
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NewsATP makes €300m foray into renewable energy
[17:05 CET 19-03] DENMARK – ATP Pension has invested $400m (€293.5m) in a global renewable energy fund which will target energy sources including solar and wind power.
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NewsFully-reinsured pensions face trouble - DNB
[17:00 CET 19-03] NETHERLANDS - Dozens of Dutch company pension funds who reinsured their assets and liabilities are now being challenged by market conditions and confronted with increased credit risks at their reinsurers, according to financial regulator DNB.
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NewsAP3 cuts management bonuses
[16:40 CET 19-03] SWEDEN – Tredje AP-fonden (AP3), the Third Swedish National Pension Fund, has confirmed its chief executive has refunded a bonus paid in relation to 2007 performance and said no bonuses or ‘variable compensation’ will be paid to employees for 2008, in a bid to improve confidence in the fund.
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NewsIORP review confirms pensions solvency complications
[16:30 CET 19-03] EUROPE – Pension funds operating under Article 17 of the Institutions for Occupational Retirement Provision (IORP) rules would have to undergo significant overhaul were the EC to ever consider making IORPs adapt to Solvency II rules, suggest responses to the European Commission consultation on harmonisation of solvency ...
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NewsAllianz notes decline in pension outsourcing
CZECH REPUBLIC – The crisis has led German companies to think less about outsourcing their pension arrangements, Gerhard Rupprecht, chairman of Allianz Germany, has claimed.
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NewsFSP returns hit across all classes
[16:00 CET 19-03] DENMARK – FSP Pension, the Danish pension provider, saw its assets reduce by DKK1.4bn (€180m) last year, after suffering even higher losses on its investments.
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NewsInterest rate hedging pays off at Industriens
[16:45 CET 18-03] DENMARK – Industriens Pension generated a positive 4.4% gross return in 2008 by hedging all of its interest rate risk.
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NewsAMF Pension sacks deputy CEO
[16:40 CET 18-03] SWEDEN – AMF Pension has confirmed Ingvar Skeberg, the deputy chief executive, has left the company after it was discovered he transferred his own pension capital ahead of pension dividend cuts announced in February.
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NewsPension funds stay focused on European private equity
[16:30 CET 18-03] EUROPE – Pension funds and other institutional investors remained major investors in private equity during the crisis, suggest the latest figures by the European Venture Capital Association (EVCA), but a pension fund official has questioned the sector's immediate future.
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NewsWednesday people roundup
[16:20 CET 18-03] GLOBAL - Wednesday people roundup: USS, TPR, UBS, State Street, American Century Investments, Cordea Savills, Aquila Capital
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NewsTurkish insurer to unveil pensions offering in H2
TURKEY - Deniz Emeklilik ve Hayat, the life insurance and private pensions operation of Turkey’s Denizbank, is planning to enter the Turkish pensions market and launch is set for July this year.
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NewsPension system risks underestimated - DNB
[16:00 CET 18-03] NETHERLANDS - The current Dutch pension system carries more risks than expected because the existing management instruments are less effective than envisaged, De Nederlandsche Bank is understood to have acknowledged.
