All IPE articles in November 2008 (Online) – Page 5
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Pension fund governance missing target says OPF
[13:00 CET 14-11] NETHERLANDS - Pension fund governance is going too far and causing serious problems in decision-making and staffing, according to the Foundation for Company Pension Funds (OPF).
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Thales consolidates admin with Xafinity
[16:00 CET 14-11] UK – The UK defined benefit (DB) pension fund of Thales, the electronics and systems group, has appointed Xafinity Paymaster to provide administration services to its scheme following a consolidation process.
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Scandinavian fund seeks equity manager
[16:45 CET 14-11] SCANDINAVIA – A Scandinavian industry-wide pension fund is seeking a manager for a $100m (€79m) Japanese equity mandate, using IPE Quest.
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Dutch funds in liquidity talks with central bank
[16:45 CET 14-11] NETHERLANDS – Pension funds including ABP are in talks with De Nederlandsche Bank over liquidity concerns, although officials stressed pension payments are not affected.
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Hewitt foresees "difficult environment" in 2009
[15:00 CET 14-11] GLOBAL - Pension consulting firm Hewitt Associates says it foresees a "difficult environment" in the next fiscal year, despite swinging to a profit in the fourth-quarter from a loss a year before.
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Air France pilots strike over pensions
[16:45 CET 14-11] FRANCE - Air France pilots began a four-day strike today in a dispute over proposed increases in their retirement age and the reform of their pension fund, the CNPR.
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Swedish pension buffer drops 18%
[16:15 CET 17-11] SWEDEN – The buffer capital of Swedish pension companies fell by 18% in the third quarter, although the Finansinspektionen (FI) claimed they still have enough to meet the legal requirements.
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Norway global fund loses €3.2bn in month
[16:30 CET 17-11] NORWAY – The value of the Norwegian Government Pension Fund – Global declined NOK28bn (€3.2bn) in October following three months of growth.
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German doctors fund raises retirement age
[15:50 CET 17-11] GERMANY – The doctors’ pension fund for Westfalen-Lippe (ÄVWL) has raised the retirement age to deal with a surprise increase in longevity.
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Swiss funds get say on UBS pay
[15:00 CET 17-11] SWITZERLAND – Swiss pension fund shareholders have been granted a degree of say over executive pay at banking group UBS.
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TBLI Conference: governance failure to blame
[15:40 CET 17-11] GLOBAL – A failure of governance is to blame for the current credit crisis, delegates at this year’s Triple Bottom Line Investing (TBLI) conference in Amsterdam heard
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Dufas launches fiduciary management principles
[15:45 CET 17-11] NETHERLANDS – Dufas, the Dutch Fund and Asset Management Association (Dufas), has published a check list for good practice in fiduciary management of pension funds.
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Belgian funds down 15.5% this year
[16:00 CET 17-11] BELGIUM – Belgian pension funds delivered median returns of -15.5% over the first three quarters of 2008, forcing corporate sponsors to inject cash into their plans, according to consultants Mercer.
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HSBC asset mgmt executive 'facing murder charge'
[16:00 CET 17-11] UK - Neil Ellerbeck, chief investment officer for liquidity at HSBC Asset Management, was due in court today accused of murdering his wife, according to press reports.
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Capital International rethinks strategy
[16:25 CET 17-11] UK - Capital International, the UK arm of reclusive US-based asset manager Capital Group, says it is rethinking its strategy as its traditional defined benefit pension fund business reaches maturity.
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USS to aim for 30% alternatives target
[16:00 CET 18-11] UK – Officials at the UK’s second-largest pension fund, the Universities Superannuation Scheme, are planning to alter the asset allocation to make alternatives worth up to 30% of the total portfolio.
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Putnam to fix 'leaky' equities bucket
[16:10 CET 18-11] GLOBAL – Boston-based fund manager Putnam Investments wants to fix its weak spot of continued outflows with a broad fund shake-up under new chief executive Robert Reynolds.
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New PPF levy won't alter investment strategies
UK – Introducing investment risk as a factor in calculating the Pension Protection Fund (PPF) levy will not have a "significant effect" on pension schemes' investment strategies or on asset prices, the PPF has claimed.
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401(k) model could up pensions by 30%
[16:25 CET 18-11] UK - The Pension Policy Institute (PPI) has claimed introducing early access to pension savings on a ‘loans and withdrawals’ model similar to the US 401(k) could increase the aggregate size of pension funds by 30% by 2050.
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Czech pension funds will return 0% – APF
CZECH REPUBLIC – Czech pension funds returned 1.7% in the third quarter but only under certain accounting practices, while the actual average performance for 2008 will be around 0%, IPE has learnt.
