All IPE articles in May 2009 (Online) – Page 7
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NewsGBF signs new pensions head
[16:25 CEST 07-05] NETHERLANDS – Dr. Ronald Ketellapper will become the new director of pensions at Grafische Bedrijfsfondsen from 1 June, the investment and administration operation behind the €8.5bn industry-wide pension fund for the printing and publishing industry.
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NewsInterest rate decline hits SPP’s Q1 return
[16:10 CEST 07-05] SWEDEN - SPP Livförsäkring AB, the Swedish pensions provider owned by Storebrand, saw its sales increase by 33% during the first quarter of this year but the firm still generated a negative return of SEK647m (€61.7m), according to its latest results.
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NewsVER loses 2.4% in Q1
[17:25 CEST 06-05] FINLAND – Valtion Eläkerahasto, the State Pension Fund, generated a return of -2.4% in the first quarter of this year, reducing the value of its investments to €10.16bn.
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NewsOmbudsman criticises gov't over Eq Life response
[17:20 CEST 06-05] UK – The Parliamentary and Health Service Ombudsman has warned the UK government's 'alternative' proposal to make ex-gratia payments to members of Equitable Life who suffered "disproportionate impact" of losses will not remedy the injustice resulting from maladministration.
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NewsBerkshire adopts new due diligence policy
[17:15 CEST 06-05] UK – The Royal Borough of Windsor and Maidenhead has implemented a new due diligence policy relating to the external managers of the £1.05bn (€1.19bn) Berkshire pension fund, in response to "a number of scandals during 2008".
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NewsDAX pensions lose €13bn in 2008
[17:10 CEST 06-05] GERMANY – The pension schemes of companies listed on the German stock exchange index Dax remain well-funded over the long-term despite suffering a combined loss of €13bn last year, consulting firm Mercer has found.
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NewsTPR 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".
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NewsInflows 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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NewsWednesday 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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NewsAFM 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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NewsDanica 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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NewsBasle 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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NewsASB 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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NewsIrish 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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NewsAvon 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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NewsMercer 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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NewsAberdeen 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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NewsDSM 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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NewsAon 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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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.
