All IPE articles in October 2007 (Online) – Page 5
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News
Italy gains pension reforms approval
[16: 45 CEST 12-10] ITALY - The Italian government has announced it will insert a welfare package, which includes pensions reforms, into the 2008 budget measures.
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ING real estate wins £100m Welsh mandate
[11:00 CEST 15-10] UK – The GBP1.36bn (€1.9bn) Rhondda Cynon Taf council pension fund has awarded a £100m UK property mandate, with possible exposure to other European markets, to ING Real Estate Investment Management.
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Post union scrutinises Royal Mail deal
[15:00 CEST 15-10] UK - Further strikes by Royal Mail staff protesting over the future of the company pension fund and other employment terms could be avoided if the postal workers’ union accepts a newly proposed deal this afternoon.
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Pension volatility underscores de-risking need - Mercer
[15:00 CEST 15-10] UK – Recent market volatility has highlighted the importance of risk management with the aggregate pension deficit of the UK’s largest companies soaring as high as £30bn in mid-August before recovering to £6bn (€8.6bn) at the end of September, according to Mercer.
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F&C tops FairPensions ESG table
[15:00 CEST 15-10] UK – F&C Asset Management tops a ranking of investment managers with the best engagement and transparency scores on environment, social and governance issues.
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Two Dutch schemes to move to Mercer pan-European vehicle
[15:00 CEST 15-10] EUROPE - Two multinational companies are considering moving their Dutch pension activities into a pan-European pension scheme based in Ireland, claims Mercer.
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Hitchen adds voice to Solvency II criticism
UK – Chris Hitchen, chairman of the National Association of Pension Funds (NAPF) and chief executive of Railpen Investments, has become the latest critic of the Solvency II regime. He told a conference today that applying it to pension funds would amount to “killing the goose”.
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Sainsbury takeover 'hinges on pension agreement'
UK - The success of a £10.6bn (€15.2bn) takeover bid for J Sainsbury, one of the UK’s largest supermarket chains, is now said to hinge on an agreement between the pension trustees and the bidders over the future of the pension scheme.
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Confidence in sustainable funds helps outperformance - Vinis
GLOBAL – Sustainable investment funds are perceived to be more attractive in the long run which helps them perform better in times of market turbulence, according to Wolfgang Pinner, managing director at Austrian SRI fund manager Vinis.
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Swedish supervisor to review small funds’ risk management
[13:30 CEST 16-10] SWEDEN – Supervisory body Finansinspektionen (FI) said it will check whether risk management matches the investment strategy at smaller pension funds.
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ABP and PGGM award €2bn mezzanine brief to AlpInvest
[13:30 CEST 16-10] NETHERLANDS - Private equity investor AlpInvest Partners has been awarded a €2bn mezzanine mandate from the two largest Dutch pension funds ABP and PGGM. The two pension funds own the private equity investor jointly.
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Sisk boosts membership with group personal pensions
[13:50 CEST 16-10] IRELAND – The Dublin-based pension fund of Ireland’s largest general contracting company, John Sisk & Son, has found replacing its trust based defined contribution (DC) scheme has boosted take-up rates among Irish employees.
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ECJ rejects retirement age discrimination claim
[14:40 CEST 16-10] SPAIN – The European Court of Justice (ECJ) today has rejected Félix Palacios de la Villa’s age discrimination claim against his employer, clothing company Cortefiel Servicios SA.
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Kensington and Chelsea fund seeks consultant
[14:40 CEST 16-10] UK – The £425m (€610m) Royal Borough of Kensington and Chelsea pension fund is seeking an investment consultant to assist with asset allocation and external manager appointments.
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News
NPRF hires three transition managers
[15:40 CEST 16-10] IRELAND – The €21.3bn National Pension Reserve Fund (NPRF) has appointed a panel of three transition managers including Citigroup, Lehman Brothers and State Street in a bid to improve cost efficiency.
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News
LVAM in drive to grow institutional business
[16:20 CEST 16-10] UK – LV=Asset Management (LVAM), the asset management arm of UK’s largest friendly society, has announced ambitious plans to expand its fund management arm with 12 new funds and the development of a multi-manager capability, as it targets institutional and retail investors.
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News
Mercer hires European head of implemented consulting
[16:30 CEST 16-10] EUROPE – Michael Kinney joins Mercer to head its European implemented consultancy services.
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News
FRR tenders €2bn in commodities mandates
[16:40 CEST 16-10] FRANCE – The €33.4bn Fonds de Reserve pour les Retraites (FRR) is looking for commodity managers.
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Dutch supervisor appoints new pensions director
[13:30 CEST 17-10] NETHERLANDS – The Dutch central bank and pension supervisor, DNB, has appointed Joanne Kellermann as its new director.
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JPMAM brings four 130/30 strategies to Europe
[14:00 CEST 17-10] EUROPE – JPMorgan Asset Management(JPMAM), one of the pioneers of the 130/30 strategy in the US, has joined a host of new entrants to the UK market with the launch of four new funds for institutional investors.
