All IPE articles in October 2008 (Online) – Page 9
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News
Aviva 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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Pension 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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Traffic 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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UK 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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Wednesday 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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Peers 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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PPF 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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Waltham 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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Railways schemes steer clear of the buffer
[16:50 CET 29-10] NETHERLANDS - The €10.3bn railways scheme SPF has concluded the third quarter with a relatively comfortable cover ratio of 160%, despite a funding drop of 18% and negative returns of –4.4%.
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Veritas and Tapiola report negative returns
[16:55 CET 29-10] FINLAND – Two more Finnish pension companies have reported negative returns for the first nine months of 2008, as Veritas Pension Insurance confirming a saw a negative investment return of -10% to the end of September.
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CSR is 'no longer a luxury'
[17:00 CET 29-10] GLOBAL – While corporate social responsibility (CSR) is still treated by some companies as a PR measure, investors see it as an integral way of rebuilding trust, according to delegates at a CSR conference in Vienna.
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Crisis "confirms" Solvency II not for pensions - Bayer
[16:00 CET 30-10] GERMANY/EUROPE – Relying solely on a mark-to-market valuation of pension assets and liabilities is too short-sighted and should therefore not be applied to pension funds, according to Stefan Nellshen, chief financial officer at German pharma giant Bayer AG and its Pensionskasse.
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DTCC closes out $500bn in Lehman's bankruptcy
[16:30 CET 30-10] GLOBAL – The Depositary Trust and Clearing Corporation at one stage processed a total of 209 million open trades related to the collapse of Lehman Brothers in a single day, and has now closed out bankruptcy trading contracts worth over $500bn.
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NewsCapital Dynamics wins West Midlands mandate
[17:00 CET 30-10] UK - The £6.8bn (€8.6bn) West Midlands Pension Fund has awarded a private equity mandate to Swiss firm Capital Dynamics.
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NewsPension supervision intensifies as crisis takes hold
[17:00 CET 30-10] GLOBAL – Pensions supervisors across the globe have stepped up their supervision of pension fund reporting and increased the frequency of stress tests on asset liability strategies on the back of credit crunch market turbulence, the International Organisation of Pension Supervisors has revealed.
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ATP posts 1.4% negative return
[17:05 CET 30-10] DENMARK – ATP, Denmark’s largest pension fund, has reported a fall in its investments of DKK5.3bn (€725m) following negative investment returns for the first nine months of 2008 of -1.4%.
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Alcatel-Lucent schemes hit €3bn surplus
[17:10 CET 30-10] GLOBAL – Telecommunications company Alcatel-Lucent has reported an overall surplus in the funded status of its pension schemes of €2.997bn in its third quarter results.
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Pension deficit figures not to be taken at 'face value'
[17:10 CET 30-10] UK – Recent figures estimating the current pension deficit of the FTSE350 pension schemes should not be taken at "face value", Hymans Robertson has warned.
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News
Unilever deficit stays at 2007 level
[17:15 CET 30-10] GLOBAL – Unilever has reported the aggregate net deficit of its pension funds remains stable at €1.1bn, despite recent market turmoil.
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NewsShell refines UK pension terms
[17:25 CET 30-10] UK – The £12.1bn (€15bn) Shell Contributory Pension Fund is revising the terms of its defined benefit scheme from next year which requires new members to retire later and receive a lower aggregate of their salary.
