All IPE articles in November 2008 (Online) – Page 8
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News
Nordics exceed IMF's Iceland bailout
[16:45 CET 24-11] NORDIC REGION – Denmark, Finland, Norway and Sweden have agreed to supplement a $2.1bn (€1.6bn) IMF bailout of Iceland with additional loans of $2.5bn.
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Pensionskassen growth remains slow
[16:50 CET 24-11] GERMANY – A German government report on pensions has revealed there has been little growth, for the third year in a row, in the membership of Pensionskasse as share of employees with occupational pension accounts stood at 52% last year and is likely to stay at that ...
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Norwich confirms extra pension deficit
[16:55 CET 25-11] UK – Norwich City Council has confirmed the financial crisis has resulted in an unexpected pension liability of £19m, relating to staff employed by a contractor, which was not included in the annual financial statements.
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SSGA beefs up European equity team
[17:00 CET 24-11] EUROPE - State Street Global Advisors (SSgA), the investment management arm of State Street Corporation, has poached two fund managers from rivals BGI and Axa Rosenberg in a bid to boost its European equities team.
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AFM has asked insurers to step up advice
[14:00 CET 25-11] NETHERLANDS - Pension supervisor AFM has told insurers to "maximise their duty of care" when advising individual defined contribution pension policyholders about their freedom of choice when investing.
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Dutch government firm on loans to pension funds
[14:15 CET 25-11] NETHERLANDS – Piet Hein Donner, the Dutch minister of social affairs, has confirmed pension funds will not get any financial aid from the government, reconfirming earlier statements of his colleague Wouter Bos, minister of finance.
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UK freezes pension limits until 2016
[14:30 CET 25-11] UK – Pension officials have warned a decision by the UK government to freeze the lifetime and annual allowance for pension contributions, announced yesterday in the Pre-Budget Report (PBR), will introduce an "element of uncertainty in long-term pension planning" for both high and low earners.
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Norway global fund drops 7.7% in Q3
[15:30 CET 25-11] NORWAY – The Norwegian Government Pension Fund – Global has reported the lowest quarterly return in its history, and generated a negative yield of 7.7% in the third quarter.
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Doctors’ fund creates its own crisis
[16:00 CET 25-11] AUSTRIA – The €250m fund for 8,000 doctors in the country’s largest province of Lower Austria is facing massive financial difficulties but not because of the credit crisis.
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Credit crisis triggers investment reviews
[16:15 CET 25-11] GLOBAL – Over three-quarters of pension funds are currently reviewing their investment strategies as a direct result of the credit crisis, research by bfinance has revealed.
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News
Push for pensioner board members on hold (amended)
[16:50 CET 25-11] NETHERLANDS – A small group of Dutch politicians have put on hold their proposed amendments to pensions law that would see pensioners become board members of their own industry-wide pension fund boards.
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Talking Point: the security of a sponsoring employer
TALKING POINT -The turbulence of the last year has shown while many pension funds' risk strategies are focused on the short-term volatility of the financial markets, economic pressures elsewhere could present bigger questions about the strength of the employer covenant or a sponsor's financial backing.
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Pension funds could be key to Iceland rescue – IMF
[16:40 CET 26-11] ICELAND – The International Monetary Fund (IMF) has published a report suggesting Icelandic pension funds could be a key component in rescuing its domestic economy if they were to purchase local government bonds.
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Wednesday people roundup
[16:45 CET 26-11] GLOBAL – People roundup: APG/Cordares, Telos, Alternative Investment Strategies, Hermes, Mercer, Impax, Aon.
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News
Track record 'meaningless' as half of bets go sour
[16:50 CET 26-11] GLOBAL – The concept of following a fund manager’s track record as a measure of performance is meaningless, as fund managers typically get only half of their decisions right, research suggests.
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North Yorks awards ING global property mandate
[16:55 CET 26-11] UK – North Yorkshire County Council has agreed to appoint ING Real Estate as global property manager for its £1.07bn (€1.26bn) local government pension fund.
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Subjective life expectancy could ease financial pressure
[16:55 CET 26-11] NETHERLANDS – Subjective life expectancy is driving the choice by individuals as to when to retire, according to a new study released by the Dutch pension regulator DNB.
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News
Section 75 changes aimed at late 2009
[17:00 CET 26-11] UK – Changes to the Section 75 employer debt regulations resulting from government consultations will not be implemented until October 2009.
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News
Pension members need Europe-wide supervision - actuaries
[17:05 CET 26-11] EUROPE – The European umbrella organisation of actuaries wants to see plans for a Europe-wide supervision of occupational pensions being sped up.
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Investor seeks corporate debt manager
[17:10 CET 26-11] EUROPE – A continental European investment company is looking for a manager to manage a global developed markets corporate debt mandate worth $50m (€38.6m), using IPE Quest.
