All IPE articles in November 2007 (Online) – Page 3
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Norwegian fund excludes British company
[16:15 CET 07-11] NORWAY – The NOK2trn (€250bn) Norwegian government pension fund has excluded UK mining and metal company Vedanta Resources from its investment universe because of human rights violations and for causing environmental damage.
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NPRF seeks managers to double EM exposure
[16:30 CET 07-11] IRELAND – The €21.3bn National Pension Reserve Fund (NPRF) is tendering €600m in emerging markets equities.
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Let funds decide on conversion rate – OECD
[11:00 CET 08-11] SWITZERLAND – The rate with which accrued pension assets are converted into benefit payments should not be decided by politicians, said the Organisation for Economic Co-Operation and Development (OECD).
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SER's inquiry right shift "damages shareholders"
[15:00 CET 08-11] NETHERLANDS – Proposals from the Social Economic Council (SER) to reform the right to instigate an inquiry will damage the position of minority shareholders, Eumedion, the platform for institutional investors, has claimed.
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Pension funds object to KPN pay
[15:15 CET 08-11] NETHERLANDS - A group of six Dutch pension funds and institutional investors, led by the large schemes ABP and PGGM, has objected against the proposed payment package for chairman Ad Scheepbouwer of Dutch telecoms giant KPN.
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Aon closes Swedish investment consultancy
[15:30 CET 08-11] SWEDEN – The global consulting company Aon has closed its investment strategy consultancy business in Stockholm following the departure of both Mats Langensjö and Martin Källström.
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BT pensions surplus climbs to £1.5bn
[16:00 CET 08-11] UK – The BT pension fund has moved from a £2bn (€3.5bn) deficit last year to a £1.5bn pensions surplus, thanks to improved market conditions and extra deficiency payments, the telecommunications group has reported.
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ECJ backs fresh claim on withholding tax
[16:40 CET 08-11] EUROPE – European pensions funds are now entitled to claim hundreds of millions of euros in tax from the Netherlands government, after the European Courts of Justice ruled against their application of withholding tax (WHT) on dividends.
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Falls and outflows for ABN-buyer Fortis
[16:45 CET 08-11] BELGIUM – Fortis, part of the banking-trio that has bought ABN Amro, has reported a 10% drop in quarterly profits, naming insurance claims and credit market turmoil as the culprit.
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NAPF calls for fresh Myners Review
[16:45 CET 08-11] UK - The National Association of Pension Funds (NAPF) has suggested there should now be a complete review of the pensions principles set up by former head of Gartmore fund managers, Paul Myners, in 2001.
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Pensionskassen growth stagnates - GDV
[11:00 CET 09-11] GERMANY – Germans remain cautious about investing money long-term despite good economic development, the association of German insurers (GDV) has found.
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Few schemes allow for longer longevity projections
[12:00 CET 09-11] UK – Less than 1% of UK pension fund sponsors leave room for wider mortality improvement factors to value future liabilities, says Barnett Waddingham.
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Danish premier eyes PenSam programme
[16:00 CET 09-11] DENMARK - Danish prime minister Anders Fogh Rasmussen visited the offices of labour market pension scheme PenSam this morning, to learn about a project to reduce the number of people taking early retirement on health grounds.
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Norway seeks real estate expertise
[16:00 CET 09-11] NORWAY – The Norwegian Government Pension Fund – Global has effectively confirmed its intention to invest in real estate by tendering for a real estate investment consultant.
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Small company schemes "gain from cooperation" - PWC
[16:15 CET 09-11] NETHERLANDS - An upscaling of small and average-sized pension funds through some form of cooperation could improve governance and drive down costs, according to consultancy PricewaterhouseCoopers.
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Irish bodies increase mandate needs
[16:30 CET 09-11] IRELAND – The Irish Pensions Board and National Treasury Management Agency (NTMA) have issued several mandates to assist with pension fund management, including a tender for a €600m emerging markets investment.
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Pension Corp demands Telent trustees' exit
[16:45 CET 09-11] UK - Pensions Insurance Corporation (PIC) has threatened to lapse its offer on telecoms group Telent, unless the regulator removes the independent trustees it appointed to Telent's £3bn (€4.3bn) pension fund last month.
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Dutch regulator demands funds step up work
[16:45 CET 09-11] NETHERLANDS – The Dutch pension regulator and central bank DNB wants corporate pension funds to increase their efforts to secure durable pension systems, DNB director Arnold Schilder has said.
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Belgium eyes promotion agency
[11:30 CET 12-11] BELGIUM – The Belgian Pension Funds Association (BVPI-ABIP) is working on establishing an agency to promote itself to multinationals abroad as a pension centre, IPE has learnt.
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Equal tax treatment for Hungarian IORP
[13:00 CET 12-11] HUNGARY – New Hungarian institutions for occupational retirement provision (IORP) will get the same tax treatment as existing voluntary pension funds and personal pensions, IPE has learnt.
