All IPE articles in May 2009 (Online)
View all stories from this issue.
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NewsHull PCT wants 'comparable' scheme to NHS
[11:30 CEST 01-05] UK – NHS Hull, the area's primary care trust (PCT), is seeking a provider to develop a company pension fund for the City Health Care Partnership (CHCP) that will offer "comparable" benefits to the NHS pension scheme.
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NewsWarnings surface over Irish early retirement plan
[12:00 CEST 01-05] IRELAND – Government plans to cut the public sector wage bill by incentivising early retirement may not be "legally sound", Impact, the trade union, has warned.
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NewsATP loses DKK2.4bn after negative SP result
[12:30 CEST 01-05] DENMARK – ATP Group has reported an overall loss of DKK2.4bn (€322m) in the first quarter, driven primarily by a 4.3% loss in the Special Pension Savings Scheme (SP).
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Employer reps can conflict pensions board, say trustees
[13:00 CEST 01-05] UK – Finance directors may be able to wear two hats and operate both on behalf a company and as a trustee of a pension scheme providing there are likely to be no significant disagreements over funding, according to trustees.
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NewsBermuda insurer targets buy-ins with 'bridge' model
[13:30 CEST 01-05] UK/EUROPE – Bridge Pointe, a Bermuda-based insurance company, has confirmed its intention to enter the European buyout market and the UK in particular, where officials claim they could expand the market by up to £1bn (€1.12bn) in the next 18 months.
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UK seeks pension fund investment in housing
[14:00 CEST 01-05] UK - Plans to encourage pension funds to invest in private rented housing have been announced by the UK government’s Housing and Communities Agency (HCA).
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NewsDonner to change rules on pensions connections
[14:30 CEST 01-05] NETHERLANDS - Social affairs’ minister Piet Hein Donner wants to undo the present ban which prevents pensions providers from linking their financial products to the mandatory industry-wide pension funds.
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Aon extends funding index to avoid FRS17 'distortion'
[15:00 CEST 01-05] UK – Financial reporting standards are "distorting" the level of pension scheme losses suffered in the financial crisis, effectively hiding around £120bn (€135bn) of losses Aon Consulting has warned.
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DSM scheme returned –18.8%
[15:00 CEST 05-05] NETHERLANDS - PDN, the €4.1bn pension fund of chemicals giant DSM, lost 18.8% on its investments last year, and fell short of its benchmark by 3%.
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Aberdeen AM sees fixed income outflows
[16:00 CEST 05-05] UK – Aberdeen Asset Management saw its asset under management fall in the first half of its financial year to the end of March by almost £8.5bn (€9.55bn) thanks largely to outflows from its fixed income.
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Mercer saw manager searches put on hold
[16:20 CEST 05-05] EUROPE - European pension funds chose to largely focus on strategic issues during last year's financial markets turmoil rather than press ahead with manager or structural changes to their portfolios, according to consulting firm Mercer.
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Avon calls on HSBC
[16:25 CEST 05-05] UK – Bath and North East Somerset Council has appointed HSBC Actuaries and Consultants to provide full investment consultancy services to the £1.95bn (€2.2bn) Avon Pension Fund.
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Irish managed funds find positive ground
[16:30 CEST 05-05] IRELAND – Irish managed funds posted a second consecutive month of positive returns with an average yield in April of 8.7%, according to Hewitt Associates.
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ASB sticks to immediate recognition of pension values
[16:35 CEST 05-05] UK – The UK Accounting Standards Board (ASB) has revealed it has made some "tentative" decisions on proposals relating to the financial reporting of pensions including immediate recognition of pension assets and liabilities.
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Basle City to plug pension hole
[16:45 CEST 05-05] SWITZERLAND – The CHF8.2bn (€5.4bn) pensionskasse for the Swiss canton of Basle City is to receive CHF1.38bn to ensure the pension scheme is fully-funded again.
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Danica Pension posts Q1 profit
[16:50 CEST 05-05] DENMARK - Danica Pension, the pensions arm of Danske Bank Group, managed to generate net income of DKK91m (€12.2m) in the first quarter of 2009, despite seeing a decline in total premiums paid.
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AFM extends UPO deadline
[15:00 CEST 06-05] NETHERLANDS - The Authority Financial Markets (AFM) has extended the deadline by which the Uniform Pension Statement must be send out by pension funds and insurers.
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Wednesday people roundup (amended)
[16:00 CEST 06-05] GLOBAL – People roundup: Sourcecap International, Henderson Global Investors, Calamos Investments, ECPI, Robeco, Hymans Robertson, Managing Partners Limited, ING Real Estate
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Inflows outdo BNP Paribas' losses
[16:45 CEST 06-05] EUROPE – BNP Paribas, the French-headquartered asset manager, managed saw higher inflows at the beginning of this year than the losses it suffered during market turmoil, according to first quarter financial results released today.
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TPR simplifies 'material detriment' code
[16:50 CEST 06-05] UK – Feedback on a draft code of practice concerning the "material detriment" test has resulted in The Pensions Regulator (TPR) restructuring the code to make it clearer and more "accurately reflect the policy intent".
