All IPE articles in November 2007 (Online) – Page 9
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News
Pension Act error ‘might scupper indexation promises’
[16:00 CET 06-11] NETHERLANDS - A mistake discovered in the new Dutch Pensions Act could cause companies to forsake on future indexation promises, experts claim.
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Deloitte under review at TPR
[15:30 CET 06-11] UK – The Pensions Regulator (TPR) is tendering for a new internal auditor.
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PPM wants to 'wake up' DC members
[15:15 CET 06-11] SWEDEN – The Premium Pension Authority PPM is planning to send a reminder to 600,000 members of the compulsory defined contribution system who have not changed their fund selection since entering.
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130/30 approach benefits fixed-income mandates - Barings
[15:00 CET 06-11] GLOBAL - A 130/30 approach can benefit not only equity but also fixed-income investors, according to international investment firm Barings.
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Pension funds still set longevity too low – PCS
[16:45 CET 05-11] UK – Pension liabilities of the top 100 London-listed companies could be underestimated by as much as £40m (€57.5m), risk management firm Pension Capital Strategies (PCS) is convinced.
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Ex-Morgan Stanley banker claims pension revolution
[16:35 CET 05-11] UK – Amelia Fawcett, former vice chairman of Morgan Stanley's European business, has set up a new company claiming to completely immunise defined benefit (DB) pension schemes from risk.
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Swiss funds return 3.5% - Lusenti
[16:30 CET 05-11] SWITZERLAND – Swiss Pensionskassen returned 3.5% in the first half of this year, and consultancy Lusenti is expecting similar returns even after recent market turbulence.
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Worse for wear Citi retires CEO
[16:20 CET 05-11] GLOBAL – Charles Prince, the chairman and chief executive of America's largest bank Citigroup, has retired on the back of an estimated additional $11bn (€8bn) loss at the firm, directly-linked to the US sub-prime crisis.
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HVB sells out pension consulting
[16:10 CET 05-11] GERMANY – The Bavarian HypoVereinsbank (HVB) has sold parts of its subsidiary Pension Consult in order to focus solely on Pensionsfonds.
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Anger over Cordares chairman's severance
[16:00 CET 05-11] NETHERLANDS – Delegates of the Dutch pensions sector have boycotted the departure reception of Joep Schouten, chairman of the €26.5bn pensions provider and asset manager Cordares, because of his severance package.
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News
CAAM mixes strategies to deliver alpha gem
[15:00 CET 05-11] GLOBAL – Credit Agricole Asset Management (CAAM) has unveiled two global equity funds which incorporate a mixture of top-down, tactical and bottom-up strategies designed to generate uncorrelated performance.
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J Sainsbury goes it alone (Update)
[13:00 CET 05-11] UK/QATAR – Qatari-backed investment fund Delta Two has confirmed it has terminated its takeover bid for supermarket chain J Sainsbury, citing market turmoil and concerns over pension fund demands (Updated with comments from Punter Southall).
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Italian government to reform INPS
[17:00 CET 02-11] ITALY - The Italian labour ministry will unveil plans to restructure the national pension institute INPS (Istituto Nazionale di Previdenza Sociale) before the end of the year, minister Cesare Damiano has announced.
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News
Lærernes taps new domestic equity managers
[16:45 CET 02-11] DENMARK – The DKK24.5bn (€3.3bn) Danish teachers' pension fund, Lærernes Pension, has selected Gudme Raaschou and FMS04 to manage a Danish equities portfolio.
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News
CEIOPS changes direction on Solvency II (amended)
[16:45 CET 02-11] EUROPE – The widely-criticised Solvency II directive, an EU-initiated project aiming at creating a more risk-related solvency model, may not be adopted for pension funds after all, IPE has learnt (Including amended remarks in last paragraph).
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News
IPE-QUEST: Fund seeks debt manager
[16:30 CET 02-11] EUROPE – A continental European pension fund today has tendered for a €300m corporate Eurozone debt mandate, using IPE-Quest.
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News
BidRoute bulk trading goes live
[16:30 CET 02-11] EUROPE – An electronic system has officially been launched which allows investment managers to place bulk order portfolio trades of 35 stocks or more on a single online platform.
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BA refuels pension with cash
[16:15 CET 02-11] UK – British Airways saw its pre-tax profits rise in the six months to end of September, even though substantial payments to the final salary pension scheme reduced its cash position.
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News
Ministers seek improved pension terms
[15:45 CET 02-11] UK/IRELAND – Government ministers' pensions have fallen under the spotlight, as MPs in both the UK and Irish Republic have sought improvements to their financial arrangements.
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Hedge funds and private equity 'have positive impact'
[13:30 CET 02-11] NETHERLANDS - The effect of private equity investors and hedge funds on the Dutch economy and companies are modestly positive on average, researchers from Erasmus University have claimed.
