All IPE articles in October 2008 (Online) – Page 2
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NewsWaltham Forest seeks pensions admin
[16:50 CET 29-10] UK – The London Borough of Waltham Forest is seeking a provider of pensions administration services for its £444.1m (€556.8m) pension fund.
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NewsPPF funding hits 91% despite missing target return
[16:45 CET 29-10] UK – The funding level of the Pension Protection Fund (PPF) improved in 2007/08 from 88% to 91%, despite reporting an annual investment return of 3.6%, which is 4.1 percentage points below its target benchmark.
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NewsPeers reject annuity rule suspension
[16:40 CET 29-10] UK – The UK government has rejected amendments to the Pensions Bill which would have allowed the temporary suspension of a requirement on pensioners to buy an annuity at age 75.
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NewsWednesday people roundup
[16:15 CET 29-10] GLOBAL – People roundup: Schroders, Redington Partners, Climate Change Capital, P-Solve, Hermes, Alexander Forbes
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NewsUK fiduciary growth to hit £300bn
[14:45 CET 29-10] UK – Asset managers are predicting the recent turbulence in the financial markets could spark a growth of fiduciary management worth £300bn in UK pension fund assets by 2012.
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NewsTraffic lights shine green for all but three pensions
[17:25 CET 28-10] DENMARK – A call for extraordinary reporting of pension funds’ positions to the Danish Financial Supervisory Authority has revealed all but three of 61 companies have been given the green light to show their finances were on track to the end of September.
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NewsPension funds knock BGI off the top
[17:10 CET 28-10] NETHERLANDS – A study of Dutch pension funds has unsurprisingly revealed APG, PPGM and Mn Services have removed Barclays Global Investors as the largest asset manager to Dutch pension funds, but evidence suggests foreign players are increasing their presence in the fiduciary market.
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NewsAviva continues European push in tough markets
[16:55 CET 28-10] GLOBAL – Aviva Investors, the asset management arm of the bancassurance giant Aviva Group, increased its presence in the Polish and Dutch pensions markets in the first nine months of this year.
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NewsEssex tenders 10% to global equity
[16:45 CET 28-10] UK – Essex County Council is searching for an asset manager to look after up to £300m (€375m) of its £3.1bn in pension fund assets via a global equity mandate.
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NewsAllianz harvests seed company
[15:00 CET 28-10] GERMANY – A German SME specialising in seeds and plants has joined the Allianz retirement vehicle.
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NewsPension giants write to companies on ESG
[14:30 CET 28-10] GLOBAL – An initiative created by pension giants APG, PGGM, CalPERS and the New Zealand Superannuation Fund (NZSF) has been unveiled on behalf of 52 pension funds and other institutional investors urgeingalmost 9000 companies to subscribe to the UN Global Compact.
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NewsWegener scheme in funding shortfall
[14:00 CET 28-10] NETHERLANDS - The pension fund of media company Wegener (APW) has revealed its funding has dropped below 105% and is therefore now working on a short-term recovery plan.
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NewsPNO Media’s funding nears 105%
[17:25 CET 27-10] NETHERLANDS - The €2.5bn pension fund PNO Media saw its cover ratio drop close to the critical level of 105% during the third quarter, while TNO’s position also moved close to the danger zone.
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NewsSwedish funds underwrite Swedbank rights issue
[17:15 CET SWEDEN – The first and the second Swedish state pension funds, AP1 and AP2, alongside AMF Pension have underwritten the SEK12.4bn (€1.23bn) rights issue of Swedbank, the biggest bank in the Baltics.
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NewsSwiss funds bet on Swiss francs
[16:15 CET 27-10] SSWITZERLAND – Home bias is back in fashion as Swiss funds are turning towards investments in Swiss francs, especially domestic bonds – details of the Credit Suisse Pensionskassenindex reveal.
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NewsFinnish funds prepare for relaxed solvency rules
[17:10 CET 27-10] FINLAND – Tela, The Finnish Pension Alliance, said Finnish pension funds are preparing for the arrival of new proposals to relax solvency regulations, which should be implemented in the coming weeks.
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NewsABP considers court action against Fortis
[17:00 CET 27-10] NETHERLANDS – ABP, the €193bn Dutch pension fund, has confirmed it does “not rule out” taking legal steps against former Belgian-Dutch bancassurer Fortis concerning its recent financial status.
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NewsTurkish pensions to see first of three new entrants
[16:55 CET 27-10] TURKEY - Ray Sigorta, a pensions joint venture from Vienna Insurance Group and Dogan Holding in Turkey, is planning to enter the local private pension funds sector by June 2009, while two others firms are understood to looking at entering too.
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NewsDC members see pensions drop over a quarter
[16:45 CET 27-10] UK – Employees investing for retirement through defined contribution pension arrangements have seen the value of their assets fall by £157bn (€194bn) or over 28% in the last 12 months, according to data from Aon Consulting.
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NewsPension schemes plea for global markets 'pause' (amended)
[16:45 CET 27-10] DENMARK - Danish insurance companies are now calling for a coordinated global stock market ‘pause’ from the continuous fall in equity markets as well as a rescue package to support pension schemes worldwide.
