All IPE articles in November 2006 (Online) – Page 8
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Aegon acquires Polish pensions provider
POLAND - Aegon has agreed to acquire MunichRe’s Polish pensions subsidiary Ergo Hestia for an undisclosed sum.
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German MPs OK Rürup changes
GERMANY – The finance committee for Germany’s lower house of parliament (Bundestag), has approved changes to the Rürup-Rente, a private pension for the self-employed, in a bid to boost its attractiveness.
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Insider pension trustees act for sponsor – study
UK – A new academic study has presented evidence that company-appointed pension fund trustees act in the interests of the sponsoring company and not scheme members.
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Voluntary pensions have to fill gap, OECD says
TURKEY – As benefits in pension systems have been cut substantially since the 1990s, voluntary pension savings will have to fill the gap, says the Organisation for Economic Cooperation and Development.
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IPE-QUEST: Institution tenders pan-Europe equity
EUROPE – A UK manager of managers has tendered $100m in active pan-European equity via IPE-Quest.
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Dormant Dutch dentists’ scheme unchanged
NETHERLANDS - The board of the professional pension fund for dentists and dental consultants SPF is aiming to provide for future indexation but proposes to leave the scheme unchanged.
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BGI’s iShares makes €240 German acquisition
GERMANY – Barclays Global Investors has agreed to pay €240m to acquire Indexchange, a provider of exchange traded funds (ETFs), from German bank HVB.
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MEPs’ pension fund to tender actuarial study
EUROPE – An open tender to provide an actuarial study for the pension fund for members of the European Parliament is to be issued shortly.
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Rieter’s Maurer cleared over Swissfirst affair
SWITZERLAND – Swiss industrial firm Rieter has cleared Jürg Maurer, head of investments at its CHF955m (€599bn) pension fund, of any wrongdoing in the Swissfirst affair.
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Lloyds TSB to use Ortec’s ALM software
EUROPE - Lloyds TSB Group will carry out risk analysis for pension schemes with PALM, the asset liability management software from Ortec, the software developer and consultancy has announced.
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‘Belgians take too early pension’ – survey finds
BELGIUM – A report from the European Union regarding personal attitudes to pensions has found that just under half of Belgians believe that pensions are taken prematurely.
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Deutsche Bank nabs Insight’s Hamilton for LDI
UK – Deutsche Bank has hired former Hewitt Associates consultant Joseph Hamilton to join its Insurance and Pensions Group.
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Watson reports strong investment advice demand
GLOBAL – Strong demand for investment strategy advice was behind a 36% increase in first-quarter investment consulting revenues at Watson Wyatt.
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FRR terminates €331m SGAM mandate (update)
FRANCE – The FRR, the €29bn French Pensions Reserve Fund or Fonds de Reserve Pour Les Retraites, has terminated a €331.5m US mid-cap equities mandate with Société Générale Asset Management subsidiary TCW due to “ongoing unsatisfactory performance” (Updates with SGAM comment).
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FSA authorisation for new corporate pensions adviser
UK – Pensions risk management and recovery advisory company, Pension Capital Strategies(PCS) has received authorisation to carry out pensions and corporate advisory from the Financial Services Authority.
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Lehman takes stake in Blue Bay’s IPO
UK – Investment bank Lehman Brothers is to take a minority stake in London based BlueBay Asset Management’s as part of its initial public offering (IPO).
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Two-thirds of Dutch institutional assets now invested abroad
The Netherlands - Two-thirds of Dutch institutional investors’ assets of €1,069bn has been invested abroad, Statistics Netherlands has disclosed.
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Browne appointed at Hibernian to head L&P leadership push
IRELAND – Dermot Browne has been appointed as Hibernian Life & Pensions new managing director, the Hibernian insurance group and one of the largest in Ireland, announced today.
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Union Investment leads asset managers’ Riester charge
GERMANY – Fund industry association BVI, which had previously railed against the so-called Riester pension, has reported a boom in the number of the pensions sold by its members.
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Kingfisher picks PIMCO for fixed income brief
UK – European retailer Kingfisher has appointed specialist fixed-income manager PIMCO to run a £96m (€134m) segregated bond mandate for its €1.372bn (£864m) pension scheme.