All IPE articles in September 2006 (Online) – Page 5
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ABP and PGGM to invest in carbon reduction
NETHERLANDS - The large pension funds ABP and PGGM will invest €275m and €200m respectively in carbon trading and technology to reduce the emissions of greenhouse gases, they have announced.
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PWC aims to eliminate own pension deficit
UK – Kieran Poynter, UK chairman of consultancy firm PricewaterhouseCoopers (PWC), has announced the firm’s £140m commitment of additional funding will eliminate its staff pension fund deficit over the next three years.
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UK national scheme seen impacting trustees
UK – Plans to introduce a national pensions savings scheme could have knock-on effects for existing pension fund trustees, a conference was told today.
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ABP taken to court over age discrimination
NETHERLANDS – The new Dutch Alternative Labour Union (AVV) says it has taken giant pension fund ABP to court over age discrimination in the pre-pension for government employees.
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German institutions eye structured, private equity
GERMANY – Pension funds and insurers are planning more investment in alternatives this year and next, but will only award mandates for structured products and private equity, according to a new survey by German consultant Heissmann.
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Institutional searches picking up – BlackRock
GLOBAL – BlackRock, set to announce a new branding following its merger with Merrill Lynch Investment Management, says institutional search activity is picking up again.
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Synesis taps Capita, seeks fixed income managers
UK – Synesis Life, the new pensions liability buyout firm, has appointed Capita Hartshead as third party administrator and said it is looking for one or more asset managers with a fixed-income focus.
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Flemish Care Fund seeks ethical manager (Dutch)
BELGIUM – The Flemish Care Fund/Vlaams Zorgfonds is looking for an asset manager for the investment of an ethical stock portfolio.
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Paternoster sees “gamesmanship” in buyout market
UK – Mark Wood, the chief executive of defined benefit pensions buyout firm Paternoster, reckons there’s “gamesmanship” going on in the market as providers seek to win business.
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USS recruiting for responsible investment
UK – The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, is looking to hire two responsible investment staff as a result of “re-organisation and expansion”.
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Swansea Pension Fund seeking investment advisor
UK – The City & County of Swansea Council is seeking one or more independent investment advisors for the £790m (€1.2bn) Swansea Pension Fund.
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Manchester firefighters want pensions admin
UK – The Greater Manchester Fire and Rescue Authority is tendering for a five year “framework agreement” for the provision of a firefighters’ pension scheme system.
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Mercer affected as parent axes 750 jobs
GLOBAL – Mercer Human Resource Consulting will bear some of the brunt of parent company Marsh & McLennan Companies decision to cut 750 jobs.
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Hoogovens awards €5bn custody mandate
NETHERLANDS – The €5.1bn Stichting Pensioenfonds Hoogovens, the pension fund of steelmaker Corus Netherlands, has named ABN Amro Mellon Global Securities Services as its new global custodian.
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ECB’s Trichet says contributions could double
EUROPE – European Central Bank president Jean-Claude Trichet has warned that pension contributions could double without further reforms.
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PPF seeking rule change on insured liabilities
UK – The Pension Protection Fund is seeking a change in legislation to ease difficulties with insured liabilities and valuations.
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MEAG nabs €100m Protektor mandate
GERMANY – Protektor, the administrator of a new insolvency fund for life insurers and Pensionskassen, has awarded German asset manager MEAG with a €100m mandate for undisclosed investment services.
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Germany: Watson welcomes BVI’s scrutiny
GERMANY – International consultant Watson Wyatt has broken ranks with its peers by welcoming a questionnaire from German fund industry association BVI.
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Somerset awards currency brief to Record
UK – The £960m (€1.4bn) Somerset County Council Pension Fund has awarded Record Currency Management a currency hedging mandate.
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MEPs facing pension fund “embezzlement” talk
EUROPE – Members of the European Parliament are facing suggestions that they might be embezzling their own pension fund.
