All IPE articles in October 2008 (Online) – Page 2
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News
Irish reform consultation lacks consensus
[16:00 CEST 03-10] IRELAND – The Green Paper consultation process outlined last year concerning pension reforms has revealed a "general lack of consensus" over the next steps regarding pensions, according to a government report.
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News
Europe shouts 'no' to IASB's proposed pensions reforms
[17:00 CEST 03-10] EUROPE – European pension funds have collectively given a strong thumbs-down to key proposals set out by the International Accounting Standards Board (IASB) on pensions accounting reforms, and even argue the initial review creates more problems than it solves.
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Gloucester seeks equity manager as Clwyd picks advisers
[16:15 CEST 03-10] UK – Flintshire County Council has appointed seven external advisers for the Clwyd Pension Fund, while Gloucestershire County Council is tendering a global equity mandate valued at up to £200m (€257m).
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Ballangen municipality seeks pension provider
[17:15 CEST 03-10] NORWAY – Ballangen kommune in Norway is seeking a provider to run the occupational pension scheme for the municipality.
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PensionDanmark warns investors of market woes
[17:15 CEST 03-10] PensionDanmark has warned pension members the returns are unlikely to look favourable this year as it predicts 2008 investment returns will be heavily influenced by the credit crisis, world economic recession and a rapidly falling equity market.
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Cabinet shake-up sparks pensions people changes
[14:00 CEST 06-10] UK – Mike O'Brien, minister for pensions reform, has been replaced by former transport minister Rosie Winterton as part of a government reshuffle, while Paul Myners has been appointed as an unpaid undersecretary to HM Treasury.
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BNP Paribas takes on Fortis Investments (Update I)
[14:15 CEST 06-10] EUROPE – French bank BNP Paribas has acquired Belgo-Dutch bancassurance group Fortis’ investments business in a deal dubbed a "quantum leap" for the bank's asset management.
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Danish fund to invest in inflation-linked bonds
[16:)) CEST 06-10] DENMARK – A Danish pension fund is looking for managers to manage a $200m (€147m) global inflation-linked bonds mandate, using IPE-Quest.
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News
Ireland should freeze NPRF subs - OECD
[16:55 CEST 06-10] IRELAND – The Irish government should stop its annual contribution to the National Pension Reserve Fund (NPRF) because its fiscal position has deteriorated sharply, the Organisation for Economic Co-operation and Development (OECD) has warned.
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News
Iceland’s pension funds urged to thaw banking pressure
[17:00 CEST 06-10] ICELAND – The Icelandic Pension Funds Association (IPFA) has agreed to encourage its members to sell up to 50% of their foreign securities and injecting the capital back into the Icelandic currency market.
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News
HMRC updates VAT exemption on fund management
[16:05 CEST 06-10] UK – The UK government has confirmed the definition of 'special investment funds' that are exempt from Value-Added Tax (VAT) has been extended to include Investment Trust Companies (ITCs) and open-ended and closed-ended collective investment undertakings (CIU).
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News
Diverging bond yields highlight accounting uncertainty
[17:10 CEST 06-10] UK – The difference in the current climate between corporate bond yields from companies in the financial and non-financial sector highlights the need for pension schemes to choose the method for valuing liabilities "responsibly", Barnett Waddingham has claimed.
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News
Analyst sees return to simple assets
[17:10 CEST 06-10] EUROPE – Complicated structured products will not survive the current crisis, predicts Peter Brezinschek, chief analyst of the Austrian Raiffeisen Zentralbank (RZB).
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News
Criticism of IASB shifts to its corporate structure
[16:30 CEST 07-10] GLOBAL - Swiss pharmaceutical and diagnostics giant Roche has slammed proposals by the IASB's parent body, the International Accounting Standards Committee Foundation, to create a seven-member oversight body comprised mainly of securities regulators to oversee the activities of the IASCF's trustees.
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Isle of Wight overhauls fund management
[16:40 CEST 07-10] UK – The £258m (€332m) Isle of Wight pension fund is seeking five new investment managers for a range of contracts including property, bonds and equities.
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News
Aegon loses more clients
POLAND – Aegon’s Polish pension fund is once again among the funds to lose the most money in the so-called transfer session, even though its performance beat the market in August.
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News
IGG to take responsibility for Myners
[16:45 CEST 07-10] UK – The government has confirmed it will go ahead with the establishment of a joint government-industry Investment Governance Group (IGG) to oversee the updating and development of the Myners principles.
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Norway pension fund on track for 2008 target
[16:50 CEST 07-10] NORWAY – The Government Pension Fund – Global is still on schedule to reach an estimated value of NOK2.3trn (€274.3bn) at the end of 2008 despite current market turmoil, the Ministry of Finance has claimed.
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News
Beware of negative hedging impact – ex-AFM director
[17:10 CEST 07-10] NETHERLANDS – Risk managers are not sufficiently aware that hedging strategies could increase the overall risk of pension funds in current market conditions, the former director of the Netherlands Authority of the Financial Markets (AFM) has warned.
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News
EAI joins forces with UN's SRI coalition
[17:10 CEST 07-10] UK – The UN-backed Principles of Responsible Investment (PRI) coalition and research group Enhanced Analytics Initiative (EAI) have announced a collaboration under the PRI banner.
