All IPE articles in November 2007 (Online) – Page 9
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News
PensionDanmark to pay 'good' rate on accounts
[16:30 CET 27-11] DENMARK - Danish labour market fund PensionDanmark has fixed its long-term pension savings interest rate at 6% for 2007, and has provisionally allocated members the same rate for next year despite a likely fall in the fund’s investment returns this year.
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Watson Wyatt poaches from Goldman
[16:45 CET 27-11] GLOBAL - Watson Wyatt has persuaded Paul Richards, head of consultant relations (ex-US) at Goldman Sachs, to join its global manager research team as a ‘sustainability’ expert.
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F&C and Goldman win ESG awards
[12:00 CET 28-11] GLOBAL – F&C Asset Management and Goldman Sachs were named as the best asset management firms in relation to environmental and social governance (ESG) policy at the inaugural ESG Leaders Awards.
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AEGON picks up 'gap' Czech pensions business
[12:30 CET 28-11] CZECH REPUBLIC – AEGON’s Czech pension fund attracted 3,000 members in In the first three months of its existence, according to industry figures.
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Wednesday people roundup
[13:00 CET 28-11] People roundup: GLOBAL – Henderson, F&C, Punter Southall, Northern Trust, Fidelity, T. Rowe Price Mercer, Investec, Barrie and Hibbert, Cohen & Steer.
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Environment Agency PF to update global equity
[14:00 CET 28-11] UK – The Environment Agency’s pension fund is reviewing its existing global equity arrangements and creating a new mandate which requires asset managers display strong ESG credentials, in line with its SRI philosophy.
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PPF mulls buffer amid claims of overcharging
[15:30 CET 28-11] UK - The UK's Pension Protection Fund (PPF) is looking to set up a buffer fund with any surplus it might accrue in the future, IPE has learnt.
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Dutch state maintains index-linked bonds line
NETHERLANDS - The Dutch Finance minister Wouter Bos he has reiterated he is not considering the issuance of index-linked bonds.
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Axa IM modernises its institutional business
[16:00 CET 28-11] UK – Axa Investment Managers has restructured its institutional investment business and divided its team into three operations, in a bid to keep up with changing client needs.
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Employers reluctant to top up fund
[16:45 CET 28-11] UK – Pension scheme sponsors will increasingly avoid putting money into their pension fund, participants were told at a London-based pension scheme funding panel discussion.
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NAPF questions non-execs independence
[17:00 CET 28-11] UK – The National Association of Pensions Funds has suggested an independent non-executive director of a company may not be able to continue to be considered ‘independent’ the longer they hold their position.
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IPE-QUEST: Dutch fund eyes EM and commodities
[13:00 CET 29-11] NETHERLANDS – A Dutch industry-wide pension fund has placed two IPE-Quest searches, the first of which is for an active manager for a $125m (€85m) global emerging markets equity mandate.
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Europeans predicted to 'shy away' from hedge funds
[13:30 CET 29-11] EUROPE – Growth in institutional hedge funds investments in Europe will stagnate, argued a panel during a discussion on the future of institutional investing in hedge funds yesterday.
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Lower contributions requires good indexation - Donner
[15:00 CET 29-11] NETHERLANDS - Pension funds are only allowed to use freed-up reserves for premium discounts if they can fulfil the expectations they have raised on indexation, according to Social Affairs minister Piet Hein Donner.
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EC questions BT's 'state aid' pensions benefit
[16:00 CET 29-11] EUROPE – The European Commission has opened a state aid investigation into the UK Crown guarantee accessible by the BT pension fund, which would guarantee the State pays 75% of pension benefits should the BT Group go bust.
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Life cycle investment is 'utter nonsense', claims IPE winner
[16:15 CET 29-11] AUSTRIA – Changing the asset allocation in a portfolio solely on the basis of the members’ age is “complete nonsense”, as are other strictly “mechanical portfolio management concepts”, according to Christian Böhm, managing director of the Austrian multi-employer pension fund APK.
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Italian chamber clears pensions reform
[16:30 CET 29-11] ITALY – The Chamber of Deputies, the Italian parliament's lower house, last night approved a key pensions bill, IPE has learnt.
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Review may clarify VAT on pensions-related services
[16:30 CET 29-11] EUROPE – The European Commission is conducting a review of existing legislation for value-added tax (VAT) on financial services and insurance companies, which might finally determine whether European pension funds should be exempt from paying VAT on outsourced investment services.
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Have Your Say on Solvency II
HAVE YOUR SAY: Pension fund and investment experts have been vocal in their initial criticism, and subsequent praise, of Solvency II proposals, which are now expected to exempt pension funds from meeting tighter funding levels under EU law.
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Risk-based levy 'could rise fourfold'
[16:45 CET 29-11] UK – The UK's Pension Protection Fund (PPF) has been criticised for its decision to raise the funding level, at which schemes pay no risk-based levy, from 125% to 140%.
