All IPE articles in October 2008 (Online) – Page 8
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NewsMn Services launches UK office
[15:30 CEST 08-10] UK/NETHERLANDS – Mn Services, the Dutch pension provider and fiduciary manager, has launched its new London-based office, headed by former ABN Amro Asset Management director Remco van Eeuwijk.
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NewsWednesday people roundup
[15:00 CEST 08-10] GLOBAL: People roundup – CBRE, RAM, Hermes, Threadneedle, SLI, Ortec, Penfida, BDO Stoy Hayward Investment Management, Groupe Consultatif Actuariel Europeen, Boardroom Consultants, BlackRock, Aon.
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NewsOne in five open DB schemes look to DC
[14:30 CEST 08-10] UK – A third of open UK defined benefit (DB) schemes are considering switching to a defined contribution (DC) arrangement or reducing costs or risks in the near future, the National Association of Pension Funds (NAPF) has revealed.
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NewsIASB changes 'single out' pension liabilities
[13:30 CEST 08-10] UK – Proposed changes to pension accounting standards could exaggerate volatility in pension fund liabilities and make them appear more risky than other corporate liabilities, Hewitt Associates has warned.
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NewsTurkish pensions growth to reach two million people
[13:00 CEST 08-10] TURKEY – Turkish private pension funds are close to TRY6bn (€3.29bn) in value while the system is likely to cover two million participants soon, Mehmet Simsek, Turkey’s minister for economy has revealed.
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NewsTrustee firms shown alternative route for conflict compliance
[12:30 CEST 08-10] UK – Company directors, including those of pension trustee companies, should look at meeting new conflict of interest rules concerning pensions by gaining authorisation from shareholders rather than other directors, Allen & Overy has suggested.
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NewsBusiness heads urged to tackle stewardship
[12:15 CEST 08-10] UK - Company leaders, shareholders and the UK government have been called upon by business think-tank Tomorrow’s Company (TC) to put stewardship and responsible investment at the heart of every decision they make in response to the current financial crisis.
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NewsAon calls for pensions communication during crunch
[16:15 CEST 07-10] NETHERLANDS – Pension funds must communicate more actively to all stakeholders to reassure them about the funds’ solidity in the current market turmoil, according to Aon Consulting’s Dutch executive director, actuarial services.
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NewsEAI 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.
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NewsBeware 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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NewsNorway 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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NewsIGG 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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NewsAegon 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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NewsIsle 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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NewsCriticism 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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NewsAnalyst 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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NewsDiverging 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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NewsHMRC 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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NewsIceland’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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NewsIreland 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.
