All IPE articles in October 2005 (Online) – Page 7
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News
Mellon Global names Austria, Swiss sales chief
EUROPE – US asset manager Mellon Global Investments has hired Rainer Lenzin from Lehman Brothers in Zurich to be its new vice president for fund sales in Austria and Switzerland.
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News
Gallaher puts extra €72m with JP Morgan
UK - The pension fund of tobacco firm Gallaher has put an extra £50m (€72.8m) with JP Morgan Asset Management.
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News
Uncertainty over UK pension scheme VAT
UK – The UK’s tax authorities have postponed changes to the VAT regime for pension funds following representations from the National Association of Pension Funds.
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Hermes expects to raise hedge allocation
UK – Hermes Pension Management – the asset manager of British Telecom’s £50bn (€74.2bn) pension scheme - today said it expects to increase its hedge fund allocation from 2% over the next few years.
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Germany’s SPD handed pensions in new government
GERMANY – The Social Democratic Party, which implemented two pension reforms in the former government, will continue to be responsible for pensions in the new Conservative-led government of Chancellor Angela Merkel.
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CEIOPS facing EU finance ministers’ scrutiny
EUROPE – CEIOPS, the European pensions supervisory committee, is facing scrutiny from European Union finance ministers this week.
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APK takes over BMW pension fund in Austria
AUSTRIA – APK, a €2bn pension fund open to all industries in Austria, is to take over administration of the Austrian pension fund of German carmaker BMW from January 2006.
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News
Dutch pension governance code leaked
NETHERLANDS - Dutch pension funds will be allowed to appoint supervisors themselves under new governance rules, according to Het Financieele Dagblad.
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News
IAPF in plea against mandatory pensions
IRELAND – The Irish Association of Pension Funds (IAPF) has argued against the extension of mandatory pensions in a submission to the Pensions Board due to be considered by Minister Seamus Brennan.
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News
European pension funds sue News Corp.
GLOBAL – Major European pension institutions such as ABP, USS and Hermes are among a group of institutional investors which have launched a lawsuit against Rupert Murdoch’s News Corp. over a poison pill arrangement.
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News
Swiss transport fund facing government probe
SWITZERLAND – The Swiss government is to investigate the reasons for the severe underfunding of the CHF2.15bn (€1.4bn) Swiss transportation sector pension fund Ascoop in 2001.
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News
Norway proposes mandatory occupational pensions
NORWAY – The Norwegian government has put into motion the process of setting up a mandatory occupational pensions regime that could affect up to 600,000 people.
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Belgian unions strike over retirement age
BELGIUM - One of Belgium's largest trade unions caused chaos in the nation’s capital on Friday by striking over government plans to push back the retirement age from 58 to 60, as a way of easing the pension burden in the country.
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News
COMMENT: For FTK read PVK
COMMENTARY - The Dutch authorities’ decision last month to delay the FTK for pension funds by a year, while broadly expected, was still significant.
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France ‘developing new real estate UCITS’
FRANCE – The French government is developing a new class of UCITS, which could have a positive impact on the country’s real estate market and solve its retirement problem – according to SGAM Alternative Investments.
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News
Netherlands’ Akkermans boosts pension team
NETHERLANDS - Dutch consultancy Akkermans & Partners has hired Rob Simon as director of its new pension communication service, it said.
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News
Ireland: Heissmann’s Daly sets up own firm
IRELAND – Fiona Daly, the former investment head at Heissman Consultants in Ireland, has set up her own firm called Rubicon.
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News
E.ON reviewing investment consultant FERI
GERMANY – Watson Wyatt has confirmed that it and rival consulting firm FERI are both vying to advise energy giant E.ON on the creation of an external fund for up to €5.4bn in pension liabilities.
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News
Sweden consults on traffic-light pension model
SWEDEN – The Swedish financial regulator has launched a consultation on a proposal to identify possible problems at occupational pension funds and life companies using the so-called traffic-light model.
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News
Germany: Aventis scheme in €800m FX move
GERMANY – Aventis Pensionstreuhand, the €1.9bn pension fund for pharmaceuticals giant Sanofi-Aventis, has awarded State Street Global Advisors an €800m currency overlay mandate.
