All IPE articles in October 2010 (Online) – Page 6
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NewsSweden'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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NewsShareholder 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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NewsGerman 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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NewsInstitutional investors flock to Stewardship Code
GLOBAL – The Financial Reporting Council (FRC) has published the names of institutional investors that have signed up to the Stewardship Code.
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NewsFinance ministers approve AIFM directive
EUROPE – European finance ministers have cleared the latest version of the Alternative Investment Fund Managers (AIFM) directive, sending it off for an expected rubber stamp by the European Parliament at its plenary session in early November.
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NewsWednesday people roundup
GLOBAL – Mercer, Union Bancaire Privée, State Street Global Advisors, Olivetree Securities, Towers Watson
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NewsEurope 'riding coat tails' of stimulus expectations in US
GLOBAL – The prospect of additional quantitative easing (QE) in the US has "breathed life" into the European macroeconomic outlook, according to the BofA Merrill Lynch Survey of Fund Managers for October.
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NewsFinland's Veritas to ramp up EM exposure to 20% of equities
FINLAND – Veritas, Finland's €1.9bn mutual pension insurance company, plans to grow the share of its emerging markets exposure to 20% of all equities in the coming five years.
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NewsIPE survey shows pension funds expecting low inflation
EUROPE – The majority of European pension funds are expecting low inflation over the next year and a half, according to a recent IPE survey.
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NewsING's Goris to head PGGM's board advisory service
NETHERLANDS – Erik Goris, a veteran of investment banking at ING and an independent pension consultant, has joined PGGM, the former investment arm of healthcare scheme PFZW.
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NewsNetherlands still has best pension system in world, says Mercer
GLOBAL – The Netherlands still boasts the best retirement income system in the world, according to a Mercer survey comparing more than a dozen counties.
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NewsUK increases pension age ahead of schedule, confirms NEST
UK – The government today announced its intention to go ahead with the foundation of the National Employment Savings Trust (NEST), as well as plans to increase the retirement age to 66 ahead of schedule.
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NewsHungary takes first steps toward dismantling private pension system
HUNGARY – The Hungarian government has embarked on a communications offensive to encourage the country's funded pension scheme members to opt back into the pay-as-you-go state pension pillar.
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NewsSYZ integrates institutional activities into new AM division
SWITZERLAND – SYZ has integrated its institutional asset management activities into a newly created division, SYZ Asset Management (SYZ AM).
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NewsLow interest rates cancel out strong returns at largest Dutch schemes
NETHERLANDS – The four largest Dutch pension funds saw their coverage ratios drop during the third quarter – despite strong returns – due to the sharp drop in long-term interest rates.
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NewsPension savers may shun NEST due to high cost of debt repayment, consultancies say
UK – Towers Watson has warned that the level of debt repayment the recently confirmed National Employment Savings Trust (NEST) is facing could dissuade savers from using the platform.
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NewsUniq proposes deficit-for-equity swap with trustees
UK – Food manufacturer Uniq has proposed a deficit-for-equity swap to its pension fund trustees in a deal that would see the fund take control of 90% of company shares.
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News
Friday people roundup
GLOBAL – Dalriada Trustees, Xafinity, Edmond de Rothschild Asset Management, UBS, Schroders, Standish Mellon Asset Management
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NewsState Street Global Advisors to acquire Bank of Ireland AM for €57m
GLOBAL – Boston-based State Street Global Advisors (SSgA) is set to acquire Bank of Ireland Asset Management (BIAM) for approximately €57m in cash.
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NewsSwedish roundup: Skandia Liv, Handelsbanken Liv, Swedbank, AI Pensions, AP7
SWEDEN – Skandia Liv, the life and pensions insurer, returned 6.7% for the first nine months of the year as a result of its high real estate holdings, which posted returns of 8.9% for the period.
