All IPE articles in November 2008 (Online) – Page 4
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NewsActive management 'will survive crisis'
[15:30 CET 12-11] GLOBAL – The trend towards active asset management will survive the current economic crisis, says a prominent Austrian pension fund manager.
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NewsDutch govt supports pension umbrella proposal
[15:30 CET 12-11] NETHERLANDS - Social Affairs minister Piet Hein Donner is willing to change the Pension Act to enable cooperation between different small company pension funds within an umbrella scheme.
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NewsVeritas head of asset management to retire
[16:30 CET 12-11] FINLAND – Veritas Pension Insurance has confirmed it has appointed a replacement for Thor Sourander, the vice president of asset management, when he retires at the beginning of December.
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NewsBritish Coal scheme seeking investment head
[16:30 CET 12-11] UK - The £10.9bn (€13.2bn) British Coal Staff Superannuation Scheme is looking for a new chairman of its investment sub-committee to replace former Watson Wyatt partner Nick Watts, who has left “by mutual consent”.
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NewsNestlé fund axes underperforming Mellon, JP Morgan
[16:30 CET 12-11] SWITZERLAND – Robusta, the Irish-listed fund vehicle for food firm Nestlé’s small to medium sized pension investments, has terminated Mellon Global Investments and JP Morgan Asset Management.
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NewsNumber of IORP schemes grows to 70
[16:30 CET 12-11] EUROPE – The number of cross-border pension schemes operating under the European pension fund directive has risen to 70, says the Committee of European Insurance and Pension Supervisors in its latest survey of market development.
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NewsUK consults on employer debt changes
[16:30 CET 12-11] UK – The UK's Department for Work and Pensions (DWP) has issued an informal consultation on whether to revise the rules relating to employer debt provisions.
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NewsCrisis 'wipes €3.2trn off global pensions' (UPDATED)
[13:06 CET 13-11] GLOBAL - The financial crisis wiped over $4trn (€3.2trn) from global pension assets between January and October, according to the Organisation for Economic Co-operation and Development (OECD) (Updates with more detail).
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NewsBT pension changes will save €119m a year
[16:20 CET 13-11] UK – British Telecom (BT) has revealed the proposed changes to its defined benefit pension scheme will save the firm around £100m (€119m) a year.
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No state aid for ailing Dutch schemes
[15:40 CET 13-11] NETHERLANDS – The Dutch minister of finance Wouter Bos today said that pension funds with liquidity problems should not expect any financial help from the Dutch government.
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NewsCrunch hits microfinance – SNS
[16:20 CET 13-11] NETHERLANDS – The credit crunch is causing institutional investors to shy away from committing to microfinance funds, says a leading player.
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Morgan Stanley cuts 9% of asset mgmt jobs
[15:30 CET 13-11] GLOBAL – US banking giant Morgan Stanley says it plans to cut 9% of jobs in its loss-making asset management division.
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NewsKLP returns -1.3% as Norwegian stocks fall
[16:20 CET 13-11] NORWAY – Kommunal Landspensjonkasse (KLP), one of Norway's largest life insurance companies, has reported a return on capital of -1.3% for the third quarter, although its assets grew to NOK201.8bn (€22.7bn).
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NewsAPG to sponsor asset management start-ups
[16:00 CET 13-11] NETHERLANDS – APG, the newly separated asset manager of giant Dutch pension fund ABP, has said it is considering putting cash into a new fund for start-up asset managers.
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NewsGerman funds shun risk, abandon target returns – poll
[16:30 CET 13-11] GERMANY – Risk aversion has become much more of a priority for large German institutional investors, according to the latest poll by Union Investment.
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NewsUnderfunded Siemens scheme 'might need injection'
[17:00 CET 13-11] GERMANY – Siemens AG, Europe's largest engineering company, might have to make a cash injection into its €2.5bn underfunded pension scheme if stock markets fall further, analysts said.
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Large Dutch schemes back new infrastructure fund
[16:10 CET 13-11] NETHERLANDS - DIF, the Dutch independent fund manager specialising in infrastructure, has announced the first closure of its DIF Infrastructure II fund at approximately €200m with a series of large institutional investors.
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Environment Agency wins green award
[15:00 CET 14-11] EUROPE – The Environment Agency's £1.5bn (€1.9bn) Active Pension Fund has been named the best investor in environmental, social and governance (ESG) issues at Investment & Pensions Europe’s ESG Leader Awards.
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UK regulator starts personal accounts procurement
[16:00 CET 14-11] UK – The Pensions Regulator (TPR) has initiated the procurement process for a number of contracts needed to develop the employer compliance regime required for personal accounts from 2012.
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UK university slams pensions strike
[16:00 CET 14-11] UK – The University of Sussex has warned continued strikes by trade unions over changes to the £61m defined benefit (DB) scheme for support staff will not resolve the issues facing the fund.
