All IPE articles in November 2007 (Online) – Page 8
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News
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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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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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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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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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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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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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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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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Cardano replaces Hewitt at £3bn pension fund
[16:00 CET 07-11] UK – The newly-opened London office of Rotterdam-based consultant Cardano has won its first mandate, from the AstraZeneca pension fund.
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Free pension tracker to tackle info gap
[15:30 CET 07-11] IRELAND – A free pensions tracker service has been launched by an Irish financial adviser firm which is designed to track down information on individuals’ past pensions.
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TNO shows good return despite credit crisis
[15:00 CET 07-11] NETHERLANDS - Despite the credit crisis, the €2bn pension fund of the applied scientific research institute TNO returned over 4% on investments during the third quarter.
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PGGM shifts to full indexation
[14:30 CET 07-11] NETHERLANDS – The Dutch PGGM fund, at €88bn the second largest in the Netherlands, has said it will fully index its pensions from the beginning of next year.
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Wednesday people roundup
[14:00 CET 07-11] GLOBAL – AP1, Mn Services, Cordea Savills, BNP Paribas, Hewitt, Barings, Aegon, SWIP, Citi, IAM, Ortec, Janus.
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Julius Baer reshuffles asset management
[12:00 CET 07-11] SWITZERLAND – Swiss private bank Julius Baer Holdings has announced it will combine its European asset management arm and the private banking subsidiaries under the umbrella of wealth manager Bank Julius Baer.
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IPE-QUEST: $50m in Swiss fund equity investments (amended)
[11:00 CET 07-11] SWITZERLAND – A Swiss corporate pension fund is looking for managers for one $50m (€34.4m) global equity mandate via IPE-Quest. (amends mandate size)
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ABP names new governance head
[16:45 CET 06-11] NETHERLANDS – Paul Frentrop, director of the Dutch branch of the European corporate governance agency Deminor, was today named as head of corporate governance for Dutch pension fund ABP's investment management arm.
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IPE founder applauded for 'outstanding contribution'
UK - Co-founder of Investment and Pensions Europe magazine Fennell Betson was presented with a special award this afternoon at this year's State Street institutional press awards, for his work in the instutional investment arena.
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M&S makes £95m from pension cuts
[16:30 CET 06-11] UK – As pension scheme members consent to slow down benefit increases British retail group Marks & Spencer (M&S) reports a £95m (€136.5m) exceptional pension credit in its interim results.
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Irish funds return 1.7% in October
[16:30 CET 06-11] IRELAND – All managed pension funds were back to positive returns after the market turmoil of the summer with the average fund returning 1.7%.
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Ukraine wants migrant pensions system
UKRAINE – The Ukrainian ministry of labour and social policy is calling for a EU-wide, paritarian pension system for Ukrainian migrant workers, IPE has learnt.
