All IPE articles in October 2007 (Online)
View all stories from this issue.
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News
Steffen re-elected CEIOPS head
[16:30 CET 31-10] EUROPE – Thomas Steffen of the German financial services watchdog BaFin has been re-elected as chair of the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS).
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BAA flies 130/30
[16:30 CET 31-10] UK – The £2bn (€3bn) defined benefit scheme of the UK airport group BAA will invest £330m in 130/30 strategy funds.
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Welsh £50m currency brief awarded
[16:15 CET 31-10] UK – The £1.36bn (€1.9bn) Council of Rhondda Cynon Taf pension fund has hired Record Currency Management for its first foray into currency investment.
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Nordic pensions pass €200m to Dr. Lübke AM
[16:00 CET 31-10] GERMANY/NORDICS – German real estate consultancy Dr. Lübke has started its new asset management operations with €200m in investments from Scandinavian pension funds, the company revealed today.
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Kingfisher goes 130/30 under new pensions head
[16:00 CET 31-10] UK – The £1.3bn (€1.9bn) The Kingfisher defined benefit scheme will now deploy a new pensions head to find a suitable manager for its move into 130/30 strategies.
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Besieged Merrill seeks new boss
[15:45 CET 31-10] GLOBAL – Stan O'Neal, the American chief executive of Merrill Lynch, has finally stepped down and announced his 'retirement' last night, after the bank reported more than $2bn (€1.4bn) in losses during the third-quarter.
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Netherlands needs FGRs to become 'pensions champion'
[15:30 CET 310-10] NETHERLANDS - The Dutch financial services sector could stimulate its international pensions position through the creation of cross-border asset-pooling vehicles based on existing mutual funds for joint accounts (FGRs), pension fund experts have argued.
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Wednesday people roundup
[14:30 CET 31-10] GLOBAL – Credit Suisse, HSBC, Watson Wyatt, NAPF, PPF, Henderson, Aon, Fidelity, Investec, Pimco, bfinance, Euroclear, CFA Institute, Nordea.
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Diversification to drive down returns – KPMG/Create
[16:500 CET 30-10] GLOBAL – Emergence of 'new style' alternative investments is forcing long-only managers to "mimic" them and will ultimately reduce long-term potential returns on assets, claims a study released today.
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Schroders still bleeds institutional assets
[16:45 CET 30-10] UK – UK asset manager Schroders has failed to stem the continuous institutional outflows it has experienced since last year, the firm's latest figures reveal.
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AP7 names portfolio revamp technology
[16:30 CET 30-10] SWEDEN – The Swedish buffer fund AP7 has applied the New Frontier Advisors' IT platform for its latest major strategic asset allocation review.
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Moody's predicts cross-border banking consolidation
[16:15 CET 30-10] ITALY – The incorporation of Capitalia into UniCredito was probably the last chance for a major inter-Italian consolidation in the banking sector but mergers are likely to continue cross-border, analyst group Moody's has stated.
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Ireland doomed without pension reforms – IMF
[16:00 CET 30-10] IRELAND – Ireland’s public debt will increase to unsustainable levels in the absence of pension and other reforms, argues the International Monetary Fund (IMF).
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AP1 exits Carnegie committee in protest
[15:45 CET 30-10] SWEDEN – AP1, the largest Swedish buffer fund SEK221bn (€24bn) AP1 has withdrawn its delegate from the nomination committee at Carnegie bank, in protest against the proposed new chairman.
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‘Solvency II must be modified’ – AEIP
[15:30 CET 30-10] EUROPE – The European Association of Paritarian Institutions of Social Protection (AEIP) has warned the Solvency II proposals must be modified to suit main IORP directive principles for pension schemes.
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Men see higher employer payments - research
[14:30 CET 30-10] UK – The pensions savings gap between the sexes has widened, and women are likely to receive lower contributions to occupational schemes from employers, according to a report published by Scottish Widows.
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Former minister calls for local pensions ringfence
[16:30 CET 29-10] NETHERLANDS - Dutch pension funds should support the domestic financial services industry by ring-fencing capital for domestic investment managers, former foreign affairs minister Ben Bot has suggested.
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Cable & Wireless considers buyout
[16:15 CEST 29-10] UK – Telecoms group Cable & Wireless (C&W) is in the early stages of talks to sell off its £2bn UK pension fund, IPE has learnt.
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Kaupthing ups ante in SPP takeover
[16:15 CET 29-10] ICELAND – Iceland’s Kaupthing Bank intends to further buy into Storebrand following last week’s shareholders support for the Norwegian life insurers takeover bid of Swedish pension group SPP.
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Irish insurance fund to dry up from 2016 - Mercer
[16:00 CET 29-10] IRELAND – The Social Insurance Fund will accumulate a €35bn deficit by 2061 if current regulatory frameworks on retirement age and contribution rates are maintained, Mercer's most recent actuarial valuation of the fund has found.