All IPE articles in October 2009 (Online) – Page 3
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News
Slovak funds see turnaround in Q3
SLOVAKIA – Slovak funds have further strengthened their positive return base for 2009 thanks to a 0.6% investment return in the third quarter, according to data published by the pension fund organisation ADSS.
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Corridor, smoothing would assist pensions risk - EDHEC
[16:15 CEST 08-10] GLOBAL – Companies and pension funds must be allowed to continue to use the ‘corridor approach’ when assessing a sponsor’s pension fund liabilities under IAS19 as any move otherwise would encourage schemes to shed risky assets, according to research by the French business school EDHEC.
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NPRF pulls back on 2008 losses
[17:00 CEST 08-10] IRELAND – The Irish National Pension Reserve Fund has significantly pulled back its investment returns since the beginning of the year and delivered a total positive gain of 8.9% under its new asset allocation structure.
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NBIM raises concerns over VW Porsche deal
[17:05 CEST 08-10] NORWAY – Norges Bank Investment Management (NBIM) has warned it will not support Volkswagen's investment in Porsche unless the VW Supervisory Board "takes steps to alleviate our concerns" relating to conflicts of interest and shareholder treatment.
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Discount rates needs to be realistic - ERAFP
[16:30 CEST 09-10] FRANCE – Officials at the ERAFP pension scheme have raised concerns that pension funds may be pricing their schemes’ asset allocation strategy at too high a discount rate to be achievable and argue this may have contributed to the recent market crisis because the high returns needed ...
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West Midlands finds route into hedge funds after all
[16L45 CEST 09-10] UK – The West Midlands local authority pension fund has extended its alternatives and equities investment strategy and allocated £40m (€44) to a fund of hedge funds.
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FSP lifted by high returns in Q3
[17:00 CEST 09-10] DENMARK - Holdings in emerging markets and corporate bonds boosted investment returns for the market-linked pensions of Denmark’s Finanssektorens Pensionskasse (FSP), the fund said, reporting strong third quarter performance figures.
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Romania aims for pension reforms by December
ROMANIA – Draft pension reform laws, including increases in retirement age and elimination of 'special' pensions of certain public sector workers, has been published by the Romanian government with the aim of implementing it by the end of December to comply with agreements with the International Monetary Fund (IMF).
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News
SFE tenders for pension provider but mulls own fund
[17:00 CEST 09-10] NORWAY – Sogn og Fjordane Energi AS (SFE), the Norwegian energy company, is re-tendering for a pension provider for its defined benefit (DB) occupational scheme, but is considering the possibility of joining with other energy companies to establish their own pension investment fund.
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News
Tax changes to Icelandic pensions could be 'hazardous'
[17:05 CEST 09-10] ICELAND – Proposals by the opposition political party, the Independence Party, to alter the taxation of pension fund savings has been described as "hazardous" by both the Icelandic Pension Funds Association (IPFA) and the Confederation of Icelandic Employers (SA).
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News
Essex appoints Fidelity for global equities
[17:10 CEST 09-10] UK – The £2.2bn (€2.37bn) Essex Pension Fund has appointed Fidelity International as an active global equity manager.
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News
Shell's UK pension to expand alternatives
[16:00 CEST 12-10] UK – The £10.5bn Shell UK pension fund has completed a strategic review of its investment strategy which is likely to see the fund invest another 5% of its assets in alternatives.
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News
Hewitt's Tunningley turns attention to global strategy
[16:40 CEST 12-10] GLOBAL – Andrew Tunningley, head of Hewitt’s UK investment practice, has taken up a new role as global strategy leader, to review both the company’s business potential and create an oversight role to clients’ global investment issues.
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News
LAPFF re-tenders engagement contract
[16:50 CEST 12-10] UK – The Local Authority Pension Fund Forum (LAPFF) is seeking a third-party provider to promote and assist the LAPFF's shareholder activism.
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Merseyside keeps L&G and Schroders for fixed income
[16:50 CEST 12-10] UK – The £4.1bn (€4.4bn) Merseyside pension fund has retained its two fixed income managers to run a portfolio valued at around £372m, or 9% of the scheme's assets.
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Aer Lingus eyes DC scheme to avoid major balance sheet damage
[16:55 CEST 10-12] IRELAND – Aer Lingus is proposing to introduce a new defined contribution scheme for all staff in an attempt to avoid having to change its accounting practices to defined benefit (DB) rules that would add "significant" liabilities to its balance sheet.
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News
Erste creates AM umbrella and targets CEE
[17:15 CEST 12-10] AUSTRIA – The banking and management group Erste has created Erste Asset Management(EAM), a new umbrella to combine all of its asset management business in Austria and the CEE region.
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News
Turkish pensions may open to diversity
TURKEY - Turkey’s TRY8.5bn (€3.93bn) pension industry could see an expanded range of investment vehicles in the near future in a bid to widen diversification and returns potential, according to the Turkish regulator.
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UK trustees are 'confused' about fiduciary concept - Mn
[15:30 CEST 13-10] UK - UK pension trustees misunderstand the fiduciary management concept if they award mandates for part of the portfolio, according to Remco van Eeuwijk of Mn Services.
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News
SBZ in talks with Syntrus Achmea
[15:50 CEST 13-10] NETHERLANDS - SBZ, the €2.2bn pension fund for Dutch care insurer employees, is in exclusive talks with Syntrus Achmea to contract out its benefits administration as well as its trustee support office.
