All IPE articles in November 2005 (Online) – Page 6
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Shareholder is king says EU’s McCreevy
EUROPE – EU internal market commissioner Charlie McCreevy today reiterated his belief that the “shareholder is king” and encouraged greater internal competitiveness.
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VW facing reports of pension fund abuse
GERMANY – The former Volkswagen managers at the centre of a sex and bribery scandal may have attempted to misappropriate funds from Volkswagen Pension Trust (VPT), the €1.5bn pension fund for the car giant, according to a German newspaper.
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KPN faces strike on pensions
NETHERLANDS - Dutch telecoms firm KPN is the second company within a month to face a strike over pensions.
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Bond switch could cut UK profits – consultant
UK – A wholesale shift by pension funds away from equities to bonds prompted by liability-driven investing could cut UK corporate profits by billions of pounds, according to consulting firm Pension Advisor Review.
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Former Watson partner Hill joins Investit
UK - Former Watson Wyatt partner Brian Hill has joined fund management consultancy Investit as a specialist.
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Dutch pension association OPF eyes service role
NETHERLANDS - The Dutch Foundation of Company Pension Funds, or OPF, has set out to become a service organisation for practical support of smaller company schemes, chairman Han Thoman said.
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Switzerland’s AVS may reduce US debt exposure
SWITZERLAND – The €15bn Swiss Federal Social Security Fund AVS is looking at investing in euro-denominated bonds following a possible cut-back in its investment in US bonds and dollar-denominated debt.
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Alternatives likely for Petroleum Fund – Gjedrem
NORWAY – Norges Bank governor Svein Gjedrem has said the Petroleum Fund will be likely to opt for alternative investments as it grows.
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Allianz “won’t stand still” in asset management
GERMANY – Allianz says it “won’t stand still” in asset management and is targeting a 10% increase in profit in the area.
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Disparity between US and UK fund deficits
GLOBAL – The overall pension fund deficit level among top US firms is expected to have increased by 65% to $129bn (€109.7bn) by year-end, while UK deficits are largely unchanged at around £70bn, Aon Consulting reckons.
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Church of England upgrades pensions admin
UK – The Church of England Pensions Board (CEPB) is replacing its existing pensions administration system against the backdrop of the new pensions regulations in a bid to save time, cut costs and streamline administration tasks.
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IPE-QUEST: €100m in emerging markets equities
GLOBAL – Kottmann Advisory has tendered €100 in actively managed global emerging markets equities on behalf of a pension fund client via IPE-Quest.
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Nestlé seeks pensions risk manager
UK – Nestlé is looking for a risk manager with experience in hedge funds to offer services, including the management of assets and liabilities, to its pension funds.
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ING’s Central Europe pension assets surge
EUROPE – Dutch banking group ING’s pension fund assets in Central Europe have risen by more than 32% to almost €7bn.
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Akzo Nobel chooses Aegon for levensloop
NETHERLANDS – Chemicals firm Akzo Nobel has chosen insurer Aegon as provider of the collective levensloop, or ‘life course’, scheme for its 20,000 employees, Aegon said in a statement.
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UK regulator on DB schemes (amended)
UK - UK Pensions Regulator David Norgrove has outlined the future of defined benefit pension schemes (amended).
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UK trustee confidence levels drop - study
UK – A Watson Wyatt study has found that 25% of UK corporate pension fund trustees have less than five years financial experience and less than three years experience in trustee matters – adding to an overall drop in trustee confidence levels since 2003.
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Schroders appoints new deputy CFO
UK – Schroder Investment Management has appointed Dresdner Kleinwort Wasserstein finance head Stephen Brooks as group financial controller and deputy CFO.
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Belgium to submit IORP law in January
BELGIUM - Belgian financial supervisors will present the final version of a new law for implementing the EU directive on occupational pensions in the first week of January.
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Hewitt Associates names new finance chief
GLOBAL – Hewitt Associates has named John Park to take over from Dan DeCanniere as chief financial officer.
