All IPE articles in October 2006 (Online) – Page 4
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News
DB buyout firm Synesis hires from Watson, L&G
UK - New pension buyout firm Synesis Life has boosted its staff with hires from Watson Wyatt and Legal & General.
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Which London fund sues BP?
UK – Confusion about exactly which London pension fund is taking oil giant BP to court over alleged negligence has, hopefully, been cleared up.
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Institutional interest in hedge funds ‘to grow’
GLOBAL – Institutional flow into the hedge fund market will triple by 2010 to reach $1trn (€0.8trn), but only if returns continue to justify fees and higher risks and if managers can provide the quality demanded by institutions, according to new projections.
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Siemens' Swiss pension manager released
SWTIZERLAND – Roland Rümmeli, the head of investments at Siemens Pensionskasse who was detained last month in connection with the Swissfirst affair, has been set free by authorities in Zurich.
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Portugal agrees pension reform
PORTUGAL – Portuguese state pensions are going to be indexed to the country’s economic performance and life expectancy under new reform plans.
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Allianz merges institutional and retail units
GERMANY – Allianz Global Investors, which had been selling funds to German institutional investors under the dbi brand name, will, from 2007, abolish that brand as well as the dit brand for its retail funds.
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Institutions become more active - NAPF
UK – Large pension funds are taking a more proactive approach to engaging with companies to maximise returns for scheme members, a new research by the National Association of Pension Funds (NAPF) reveals.
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PGGM mulls new structure to take on insurers
NETHERLANDS - Dutch health care pension fund PGGM is considering restructuring to take on insurance industry competitors, according to reports.
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Pilots’ pension fund takes Aer Lingus stake
IRELAND – Airline Pilots’ Pensions, the pension scheme of Aer Lingus pilots, has bought a 2.12% stake in the Irish airline in an apparent effort to obstruct budget carrier Ryanair’s €1.4bn hostile takeover bid.
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Pension Protection Fund seeks actuary
UK – The Pension Protection Fund is looking to recruit an actuary as well as six other posts, according to the PPF website.
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IPE-QUEST: Dutch fund tenders €50m balanced
NETHERLANDS – A consultant in the Netherlands has tendered a balanced mandate worth around €50m on behalf of a Dutch pension fund client via IPE-Quest.
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Insurers get leeway in Dutch Pensions Act
NETHERLANDS - Insurers will get extra leeway in implementing the new Pensions Act, Social Affairs minister Aart Jan de Geus has said.
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Germany may ease hedge fund requirement
GERMANY – To boost German hedge funds, the government will likely end a Depotbank requirement for the funds, permit them to invest in property and ease investment restrictions on institutions, according to industry players.
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EU takes Italy to court over pension directive
EUROPE – The European Commission is to refer Italy to the European Court of Justice for not transposing the occupational pension fund directive into national legislation.
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PGGM tackles the hedge fund “dilemma”
NETHERLANDS – PGGM, the €77bn Dutch health care pension fund, has confronted the hedge fund “dilemma” head on in its latest quarterly report.
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Dutch funds’ commodities returns stall
NETHERLANDS – Commodities returns at three of the largest Dutch pension funds went into negative territory in the third quarter due to declining oil prices.
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PME puts €250m into US forestry
NETHERLANDS – PME, the €19bn Dutch industry-wide scheme for metal and electro-technical engineering industry, has invested €250m in American forestry, the fund announced today in its third quarter results.
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EU says six member states at high ageing risk
EUROPE – The European Commission says the public finances of at least six EU member states are at “high risk” due to population ageing.
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Academic urges Chilean-style reform for Germany
GERMANY – A leading economist has called for Germany’s pay-as-you-go state pension system to be replaced by a Chilean-style capital-backed arrangement.
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Siemens: sacked pension manager breached code
SWITZERLAND – Siemens says Swiss pension fund manager Roland Rümmeli was fired because he breached the industrial group’s business conduct guidelines.
