All IPE articles in November 2010 (Online) – Page 7
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NewsHungary's pension funds to sue over €1.5bn government contribution cuts
HUNGARY – Hungary's pension funds have turned to the country's constitutional court in a bid to overturn legislation that will deprive them of contributions for 14 months.
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NewsUK roundup: Tyne & Wear, JP Morgan, BlackRock, LLMA, Aon Hewitt
UK – The Tyne & Wear Pension Fund has awarded four investment mandates, worth a total of £1.3bn (€1.5bn), to companies including JP Morgan Asset Management and BlackRock.
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NewsDutch pension scheme for dentists to cut benefits by 9%
NETHERLANDS – The €1.4bn occupational pension fund for dentists (SPT) has announced a benefits cut of at least 9% to recover from a funding shortfall.
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NewsSwedish roundup: EC on pension fund tax rules, SEB Trygg Liv Gamla, PP Pension, AP7, Al Gore
SWEDEN – The European Commission has urged Sweden to change its tax rules governing pension funds, which it says are discriminatory because they favour domestic funds over foreign ones.
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NewsDenmark's PKA allays concerns over Solvency II, guarantees
DENMARK – Danish labour-market pensions organisation PKA has stated publicly that it is on track to meet upcoming requirement under Solvency II and that guarantees on pensions arrangements will continue.
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NewsDutch Pension Co-operative goes out of business
NETHERLANDS – The Dutch Pension Co-operative – established in 2007 as a joint service provider for pension funds – has gone into liquidation.
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NewsSmit Internationale pension scheme facing more benefits cuts
NETHERLANDS – The €200m pension fund of Dutch maritime service provider Smit Internationale is facing another benefits cut – in addition to the 13.2% discount it already must apply at the end of this year.
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News
Friday people roundup
GLOBAL – Mercer, BDO Investment Management, AIFA, SYZ Asset Management, Hearthstone Investments, TwoFour
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NewsVote now for Best Investment Consultancy, Outstanding Industry Contribution awards
IPE – Now is your chance to vote in this year's IPE Awards Best Investment Consultancy and Outstanding Industry Contribution.
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NewsUK roundup: IMA on DC governance, Hogan Lovells on US tax changes
UK – The Investment Governance Group (IGG) has published a set of guidelines outlining the best governance procedures for future defined contribution (DC) schemes.
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NewsSwiss roundup: SAP fund, funding levels, PKZH
SWITZERLAND – The Swiss subsidiary of SAP Group is reducing the buffers in its Pensionskasse and will allow its members participate directly in capital markets.
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NewsThree companies removed from DJSI World index
GLOBAL – Energy company Centrica, offshore drilling contractor Noble Corporation and electronics manufacturer Rohm have been removed from the 2010 Dow Jones Sustainability World (DJSI World) index following the review of the corporate sustainability assessment by asset manager SAM, which publishes and licenses the indices.
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NewsNorway Pension Fund Global returns 7.2% in Q3, touts top-performing BP
NORWAY – The Norway Pension Fund Global has reported returns of 7.2% in the third quarter, with its equity portfolio growing by almost 10% after fears of economic instability in the euro-zone subsided.
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NewsBT Pension Scheme sees deficit more than halved by CPI switch
UK – The BT Pension Scheme (BTPS) has announced a 55% reduction in its deficit as a result of the switch to the consumer price index (CPI).
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NewsDNB handling of financial assessment framework 'lousy'
NETHERLANDS – The way the Dutch pension supervisor De Nederlandsche Bank (DNB) has implemented the financial assessment framework FTK has been "lousy", according to economist Sweder van Wijnbergen.
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NewsDutch must increase retirement age urgently, experts say
NETHERLANDS – Social partners and the Dutch government must focus on increasing the retirement age as a means of countering the effects of increasing longevity, a large number of experts have argued.
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NewsIOPS urges more risk-based supervision for pension funds
GLOBAL – The International Organisation of Pension Supervisors (IOPS) has called for a more risk-based approach to pension supervision as it unveiled a range of supervisory tools at its annual general meeting in Australia.
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NewsIrish roundup: Lipper's Ireland Fund Encyclopaedia, Rubicon Investment Consulting
IRELAND – The Irish fund services industry has grown by a "healthy" 7% over the last 12 months, according to Lipper's latest Ireland Fund Encyclopaedia.
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NewsPortugal Telecom in talks to transfer pension assets, liabilities to state
PORTUGAL – Portugal Telecom, the country's largest telephone company, has confirmed it is in discussions with the Portuguese government to transfer almost €3bn in pension assets liabilities to the state.
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NewsNorges Bank reiterates call to allow private equity in Pension Fund Global
NORWAY – The governor of the Norwegian Central Bank has again called for investment guidelines on the NOK2.8trn (€351bn) Pension Fund Global (NPFG) to be relaxed, allowing it to invest in private equity.
