All IPE articles in October 2010 (Online) – Page 4
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German province to discontinue MP fund
GERMANY – The German province of Saxony is thinking to discontinue a pension fund set up for regional MPs due to its inefficiency.
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Shareholder groups thinking to join US class action against UBS
GLOBAL – Swiss shareholder groups Ethos and Actares are considering to join a US class action against Swiss bank UBS.
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Sweden's Kammarkollegiet appoints global equity managers
SWEDEN – Kammarkollegiet, the fund manager and financial procurement agency to Swedish state-linked organisations, has appointed three global equity managers following a restructuring of its external investment management arrangements.
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Alexander Forbes launches 'sat nav' for UK pension schemes
UK – Alexander Forbes Consultants is offering an implemented consulting service to the trustees of defined benefit pension funds of all sizes.
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Dutch think tank Netspar outlines research themes
NETHERLANDS – Netspar, the academic network on pensions, retirement and population ageing, has chosen rising longevity, retirement decisions and developing skills of older workers as main research themes for the next three years.
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Greenwich Associates makes key hires
UK – Greenwich Associates has named Peter D'Amario as managing director of the its European operations, while Robert Statius-Muller returns to the US to be sector leader of the company's global investment management practice.
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Asset management roundup: RBC, BlueBay, Timberland Investment Resources
GLOBAL – Royal Bank of Canada (RBC) and BlueBay Asset Management have agreed terms for the recommended acquisition of BlueBay by RBC, valuing the fund manager at approximately £963m (€1.1bn).
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UK Pension Protection Fund takes on another 17 schemes
UK – The UK Pension Protection Fund (PPF) has accepted 17 new schemes for compensation in September, including 1,768 individuals who are already are receiving pensions from the safety net.
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UK roundup: Pension Insurance Corporation, BDO Investment Management, EMI, Equitable Life
UK – The risk transfer market was buffeted by underlying asset volatility in the third quarter, according to Pension Insurance Corporation's Q3 2010 Pension Risk Transfer index.
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Swiss roundup: Complementa MBO, Swiss BVK scandal
EUROPE – Swiss consultancy Complementa has sold part of its German business to a former board member.
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Greece, Spain lead government bond returns in the third quarter
EUROPE – Greece and Spain – which have hit the headlines this year due to their large debt burden – are leading total returns in the third quarter of this year, according to the S&P Eurozone Government Bond index.
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Cumbrian scheme ends 10-year relationship with Capita
UK – The £1.3bn (€1.46bn) Cumbrian County Council pension scheme has ended a decade-long administration relationship with Capita in favour of linking up with a fellow local authority scheme.
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Borough of Lambeth terminates contracts with managers [amended]
UK – The £720m (€820.5m) London Borough of Lambeth pension scheme is understood to be ending contracts with UBS Global Asset Management, AllianceBernstein and Aberdeen Asset Managers.
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IOSCO forms task force on OTC derivatives regulation
EUROPE – The Technical Committee of the International Organisation of Securities Commissions (IOSCO) has formed a task force on over-the-counter (OTC) derivatives regulation.
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White-collar workers in Sweden embrace pensions transfer rights
SWEDEN – Nearly one in 10 white-collar workers in Sweden have used transfer rights for pensions since they were introduced two years ago, according to a survey by Collectum, the administrator of the country's white-collar supplementary occupational pensions.
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Erste Group Bank's Johannes Leobacher dies
EUROPE – Johannes Leobacher, board member at Austria-based Erste Group Bank, has died at the age of 45.
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Friday people roundup
GLOBAL – Mercer, Scottish Widows Investment Partnership, Heptagon Capital, JO Hambro Investment Management, BlackRock, Amundi Asset Management
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Irish roundup: DB deadline, C&C Group
IRELAND – Defined benefit (DB) schemes submitting a funding proposal to the Pensions Board have been granted an extension beyond the original May deadline, the organisation said.
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Dutch experts question effectiveness of property as inflation hedge
NETHERLANDS – At a meeting to celebrate the fifteenth anniversary of IVBN – the Dutch association on institutional property investors – experts yesterday called into question many pension funds' assumption that real estate investments help offset inflation.
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Hungary suspends payments into second pillar in 'hidden nationalisation'
HUNGARY – Hungary has suspended payments into its second-pillar private pension system in an effort to combat its budget shortfall.