All IPE articles in September 2006 (Online)
View all stories from this issue.
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News
IPE-QUEST: Two new searches on system
GLOBAL – There are two separate searches, covering large-cap core developed markets equities and US equities, now on IPE-Quest.
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Islington refutes allegations of bad investment
UK – The £635.6m (€936m) Borough of Islington pension fund has denied union claims that its £131m deficit was caused by bad investment decisions.
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Germany seeks to boost hedge fund industry
GERMANY – The government plans to make it easier for German pension funds to invest in hedge funds in a bid to invigorate the nation’s hedge fund industry, according to deputy finance minister Thomas Mirow.
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Dutch painters tap MLIM for swaps
NETHERLANDS – A&O Services, which runs the €3.2bn Dutch painters pension fund BPF Schilders, has chosen Merrill Lynch Investment Managers to implement a €1.4bn swap and swaptions overlay programme.
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British Airways’ deficit reaches €3.1bn
UK - The actuarial deficit in British Airways New Airways Pension Scheme (NAPS) is set to rise to £2.1bn (€3.1bn) from £928m, the airline said.
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Report critical of UN fund’s real estate risk
GLOBAL – The United Nations’ internal watchdog has criticised the body’s $33bn pension fund for having a high risk exposure in its real estate portfolio.
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Hermes in clear; Clements runs hedge fund
GLOBAL - It’s emerged that Robert Clements, the former Hermes manager at the centre of the firm’s now resolved stock manipulation allegations in Korea, is now running an Israel-based hedge fund.
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Former ABP chief Frijns to chair Kempen
NETHERLANDS - Merchant bank Kempen & Co. has appointed Jean Frijns, the former head of investments at ABP, as chairman of the supervisory board.
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ECB suggests Maastricht-style pensions treaty
EUROPE – The European Central Bank has suggested a Maastricht Treaty-style pact to help solve Europe’s pensions problems.
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Reuters denies pension-deficit job freeze claims
UK – News and information group Reuters has denied claims that there is a hiring freeze caused by its pension deficit.
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Dow Jones calls for style-pure hedge indices
GLOBAL – Institutional investors will be looking for stronger due diligence capabilities as more money is expected to flow into hedge funds, financial experts at a hedge fund industry panel hosted by Dow Jones Indexes agreed.
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France’s Caisse names pensions director
FRANCE – The Caisse des Dépôts, France’s state-owned public-interest financial institution, has named Gilles Seigle as director of pensions.
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Dutch funds’ appetite for microfinance grows
NETHERLANDS – Dutch pension schemes have an appetite for microfinance initiatives, according to microfinance investment manager Blue Orchard.
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Hermes’ Anson queries private equity fees
UK – Hermes Pensions Management chief executive Mark Anson has called for lower private equity fees, according to reports.
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State Street wins Norway SRI mandate
NORWAY – State Street Global Advisors won a NOK570m (€69.3m) SRI mandate with the Bærum municipality in Norway.
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Swiss public funds underfunded, Complementa says
SWITZERLAND – Swiss public pension funds were slightly underfunded at the end of the second quarter, while private schemes remained somewhat overfunded, according to a new survey by Swiss consultant Complementa.
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New Dutch pensions act gets OK
NETHERLANDS – The Dutch House of Representatives approved the new pensions act and voted on its proposed amendments on Wednesday.
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Capita wins new N. Ireland water scheme admin
UK – Capita Hartshead won a £250,000 (€371,000) contract by the Northern Ireland Water Service for the administration of a new pension scheme to be set up for next year.
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BIS to recruit benefits manager
SWITZERLAND – The Bank for International Settlements (BIS), is looking for a new Compensation and Benefits Manager who will also have to “liaise with the Bank's actuaries for pension system evaluations and changes”, according to the job description.
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Low growth seen in pension consulting market
UK – Pension funds are increasingly reluctant to join hands with actuarial and investment consultants, according to a magazine survey.
