All IPE articles in November 2010 (Online) – Page 6
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NewsTurkish pension system grows apace, on track to reach €25bn by 2020
TURKEY – The Turkish private pensions system will hold more than TRY50bn (€25.65bn) in assets by 2020 and even has the potential to grow to twice that size, according to Meral Eredenk, chairwoman of the country’s Pension Monitoring Centre (EGM).
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NewsGerman pension insolvency fund slashes levy
GERMANY – The German Pensions-Sicherungs-Verein (PSV), which takes on insolvent companies' pension liabilities, has set its 2010 levy at 1.9/m.
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NewsPhilips pension scheme returns 6% in Q3
NETHERLANDS – The €14.3bn pension fund for Dutch electronics giant Philips has managed to keep its coverage ratio at 111% during the third quarter, returning 6% on investments over the period.
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NewsWednesday people roundup
GLOBAL – AP Pension, Mercer, Societe Generale, Williams de Broë, Fidelity International, Gartmore, T Rowe Price
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NewsPatrick Burke appointed chairman of EFRP
EUROPE – The European Federation for Retirement Provision (EFRP) has announced Patrick Burke as its new chairman, succeeding Angel Martinez-Aldama, who will become second vice-chairman.
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NewsSwedish buffer fund AP1 sues Bank of NY Mellon over $35.5m loss
GLOBAL – AP1, one of the national Swedish buffer funds, is suing Bank of New York Mellon (BNYM) at the Commercial Court in London. The lawsuit revolves around losses of $35.5m (€25.8m) incurred by AP1 in 2008, which the buffer fund attributes to investment decisions taken by BNYM on behalf ...
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NewsEuropean pension fund looks to invest €36m in emerging market currencies
IPE QUEST – A corporate pension fund in Europe is looking to invest $50m (€36m) in global emerging market debt, using IPE Quest.
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NewsPNO Media aims for profit by slashing interest hedge
NETHERLANDS – The €3.3bn Dutch pension fund PNO Media has decreased the interest hedge on its liabilities by one-third to profit from expected interest rate increases.
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NewsTwo-thirds of Brits think banks should lend 'ethically', survey finds
UK – Nearly two-thirds of the UK public thinks banks should have ethical lending policies in place to prevent them from investing in or lending to companies involved in controversial areas such as arms manufacturing or companies with poor records on the environment and human rights.
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NewsCzech Republic facing EU penalty over IORP
EUROPE – The European Commission has rapped the Czech government for failing to comply with a court ruling from January on the implementation of the IORP pension fund directive.
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NewsUK roundup: Scottish Borders, RCM, Atkin & Co
UK – The Scottish Borders Council pension fund is searching for two investment managers for a global equity and an alternative assets portfolio with a combined value of £80m.
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NewsNEST releases further details on investment mandates
UK – Further details have emerged about the five investment mandates being tendered by the National Employment Savings Trust (NEST).
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NewsDutch pension schemes to cut pension benefits by 6%
NETHERLANDS – The pension fund for the Dutch paint and printing ink industry and the scheme of building company Ballast Nedam are set to apply early benefits cuts for all of their participants at the beginning of next year.
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NewsGerman investors targeting 'risk-less returns', says Complementa
GERMANY – Risk management in Germany has improved in the wake of the financial crisis, and institutional investors are now focusing on 'risk-less returns', according to consultancy Complementa.
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NewsUK roundup: Aon Hewitt, Skandia Investment Group, Gartmore, PMI
UK – Pension trustees in the UK are spending far too little time on investment, according to Aon Hewitt.UK – Pension trustees in the UK are spending far too little time on investment, according to Aon Hewitt.
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NewsEuropean Parliament tenders for actuary to advise on MEP schemes
EUROPE – The European Union is tendering for actuaries to advise on three of its pension schemes for MEPs.
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NewsAugur fund makes first investment with acquisition of Luxembourg's LRI Invest
EUROPE – The Augur FIS Financial Opportunities II fund has made its first investment, acquiring LRI Invest, the Luxembourg-based investment company of Landesbank Baden-Württemberg (LLBW).
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NewsIrish roundup: NPRF, Irish Congress of Trade Unions, state pension
IRELAND – Ireland should use much as €6bn of funds from the National Pension Reserve Fund (NPRF) for targeted infrastructure investments, the Irish Congress of Trade Unions (ICTU) has argued ahead of the unveiling of the 2011 Budget.
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NewsGerman institutional investors 'unaware' they are under-diversified
GERMANY – Only 19% of institutional investors have a broad enough diversification across asset classes to mitigate risks, according to a risk management study commissioned by Union Investment.
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NewsOntario pension funds take over UK's high-speed rail network
UK – The UK government has sold the high-speed rail network connecting London to the Channel Tunnel to two Canadian pension funds for £2.1bn (€2.43bn).
