All IPE articles in October 2008 (Online) – Page 7
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News
AP1 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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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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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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News
Wednesday 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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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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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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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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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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NewsLehman Brothers scheme enters PPF assessment
[16:20 CEST 22-10] UK – The Pension Protection Fund (PPF) has confirmed a section of the Lehman Brothers Pension Fund has entered the organisation's assessment period.
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News
September fall hits Irish medium-term figures
[16:30 CEST 22-10] IRELAND – A 25% drop in the value of Irish managed pension funds over the 12 months to the end of September 2008 has had "a significant impact" on medium-term results, Attain Consulting has claimed.
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News
Cover ratio holds as assets fall at PFZW
[13:01 CEST 23-10] NETHERLANDS – PFZW, the industry-wide pension fund for Dutch healthcare workers, has seen its assets fall over 8% since the beginning of this year to just under €82bn but its nominal cover ratio is still above the reporting level required by the regulator to meet pension liabilities.
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News
PME dips into funding shortfall
[14:45 CEST 23-10] NETHERLANDS - The combination of falling equity markets, decreasing commodity prices and a fall in long-term interest rates pushed the returns of the €20.5bn metal scheme PME below the critical funding limit of 105% during the first half of October.
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News
Ilmarinen falls 9.4% as Finland acts on pensions solvency
[15:15 CEST 23-10] FINLAND – The €23.4bn Ilmarinen Mutual Insurance Pension Company has reported a negative return of -9.4% for the first nine months of 2008 and a loss of €2.3bn in the third quarter, but its solvency ratio could improve under Finnish government proposals to relax regulations.
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News
VB says full indexation unlikely
[15:45 CEST 23-10] NETHERLANDS - Dutch workers and pensioners must prepare themselves for the prospect of receiving only part indexation on their pensions in 2009 or none at all to compensate for inflation, the representative body for the industry-wide pension funds VB has warned.
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News
PensionDanmark solvency four times the limit
[15:50 CEST 23-10] DENMARK – PensionDanmark has revealed its solvency position is more than four times higher than its statutory solvency requirements, despite admitting it will probably end 2008 with a negative investment result.
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News
AEIP warns EC on tax incentives stance
[16:00 CEST 23-10] EUROPE – Jacques-André Schneider, a prominent member of the European Association of Paritarian Institutions of Social Protection (AEIP) Scientific Advisory Board, has cautioned the European Commission (EC) on its remarks concerning tax incentives for privately-managed pension provision in Europe.
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News
ABP begins long-term recovery plan
[16:30 CEST 23-10] NETHERLANDS – ABP, the Netherlands’ largest pension fund, will have to submit a proposal to the pensions regulator explaining how it will improve its solvency ratio as latest figures from the €195bn pension fund shows its cover ratio has dropped below 125%.
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NewsExpress scheme to close to future accrual
[16:40 CEST 23-10] UK – The National Union of Journalists (NUJ) has raised concerns about proposals to close Express Newspapers' defined benefit (DB) scheme to future accruals.
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News
Czech Republic adds personal pensions into fray
CZECH REPUBLIC – The Czech government is planning to restructure its pension fund system by introducing third pillar personal pension arrangements which are described as being more transparent vehicles but which do not carry a full guarantee.
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News
Royal Mail pension deficit hits £4bn
[16:55 CEST 23-10] UK – Royal Mail has confirmed its pension deficit in accounting terms has increased by more than £1bn (€1.26bn) between March and September 2008, to reach £4.04bn.
