All IPE articles in October 2008 (Online) – Page 4
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NewsNorthumberland seeks investment adviser
[16:10 CEST 22-10] UK – Northumberland County Council has initiated a search for an investment adviser to its £640m (€815m) local government pension scheme.
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NewsNAPF mulls guidelines on counterparty risk
[16:00 CEST 22-10] UK – The National Association of Pension Funds (NAPF) has today confirmed it is working on developing information which could form the basis of a set of guidelines to help pension funds gauge the risks they run through counterparties.
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NewsSwiss set pensions minimum rate
[15:00 CEST 22-10] SWITZERLAND – The Swiss government has lowered the minimum return rate for Pensionskassen by 0.75 percentage points to 2%.
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NewsAPG pushes forward to meet infrastructure target
[14:00 CEST 22-10] NETHERLANDS – APG, the asset manager of the €193bn ABP pension fund, is pushing forward to meet its infrastructure target of €4.5bn for 2009, despite drying up opportunities in the asset class.
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NewsWednesday people roundup
[13:15 CEST 22-10] GLOBAL: People roundup – Santander Asset Management, BNY Mellon Asset Management, Architas, Kempen, Aon, Alliance Trust, Alexander Forbes, Watson Wyatt, Optimal Investment Services.
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NewsSolvency ratio drops on Akzo Nobel pension
[13:00 CEST 22-10] NETHERLANDS – The €4bn Dutch pension fund of paints giant Akzo Nobel has so far lost over 25% this year on its equity holdings, reducing its solvency ratio to 120%.
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NewsUSS funding drops to 2005 levels
[12:45 CEST 22-10] UK – The Universities Superannuation Scheme (USS) has reported its funding level has fallen from 98% to around 77%, the same level it was three years ago.
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NewsAP1 awards Australian firm €52m Asian mandate
[16:15 CEST 21-10] SWEDEN - Första AP-fonden (AP1), the First Swedish National Pension Fund, has awarded an AU$100m (€51.9m) Asian equities mandate to the Australian boutique investment firm Treasury Asia Asset Management (TAAM).
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NewsTPR buyout powers 'do not hamper innovation'
[17:10 CEST 21-10] UK – New Pensions Regulator (TPR) powers to protect the benefits of scheme members from some of the new alternatives to pension buyouts will "not have an undue impact on legitimate business activity", the government has claimed.
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NewsGermany’s largest fund to award first timber mandate
[17:05 CEST 21-10] GERMANY – The Bayerische Versorgungskammer (BVK), Germany’s largest pension fund, is about to award its first timber mandate and has just started its first infrastructure fund.
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NewsInsolvency diligence needed over pensions threat - Mercer
[17:00 CEST 21-10] EUROPE – Pension fund executives have been advised to improve their diligence and monitoring of corporate sponsors’ covenants and counterparty risks in the current economic climate at the same time as watching their fluctuating liabilities.
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NewsEC questions need for enhanced pensions framework
[16:45 CEST 21-10] EUROPE – The European Commission has suggested an improved legal framework may be required to improve pensions coverage and ensure individuals have adequate income at retirement.
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NewsNo need for second pillar – IHS (updated)
[16:05 CEST 21-10] AUSTRIA – Increasing the real retirement age is enough to ensure people will still be able to live off the state pension in 60 years' time, according to Bernhard Felderer from the Austrian Institute for Advanced Studies (IHS).
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NewsPension funds warned on hedge funds 'mispricing'
[15:30 CEST 21-10] EUROPE - Experts have warned the market's failure to correctly price hedge funds (HF) remains a systemic problem which needs to be addressed as markets decline further.
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NewsMerseyside reports negative returns
[14:15 CEST 21-10] UK – Merseyside Pension Fund has confirmed the value of its assets fell to £4.26bn (€5.47bn) prior to the recent market turbulence, following an overall investment return of -1.3% for the year to March 2008.
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News€7.8bn doctors fund looks for opportunities
[16:50 CEST 20-10] GERMANY – Ärtzeversorgung Westfalen-Lippe (ÄVWL), a €7.8bn regional pension fund for doctors, has withdrawn approximately half of its Spezialfonds investments as it now wants to invest in 'opportunities'.
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NewsBosch Pensionsfonds eyes alternatives
[16:45 CEST 20-10] GERMANY – The €800m German corporate pension scheme of multinational Bosch, best known for its appliances, is planning to make its first allocations to alternative investments.
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NewsLGPS investment regs need to be 'simplified'
[16:40 CEST 20-10] UK – The Chartered Institute of Public Finance and Accountancy (CIPFA) intends to recommend the government simplify and modernise the investment regulations for Local Government Pension Scheme (LGPS).
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NewsThird of UK workers cannot afford pensions
[16:35 CEST 20-10] UK – Almost half of the UK's working population is not currently contributing to a pension scheme, although a third claim this is because of affordability issues, research from the Society of Pension Consultants (SPC) has claimed.
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NewsHymans to advise lighthouse authorities
[16:30 CEST 20-10] UK – The General Lighthouse Authorities (GLAs) for the United Kingdom and Ireland have appointed Hymans Robertson to provide advice on a range of pension fund issues.
