All IPE articles in September 2006 (Online) – Page 7
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News
Dutch funds’ duration lengthens, DNB says
NETHERLANDS – Pension funds with an invested capital of between €100m and €10bn have seen the average duration of their portfolio go up by one and a half years, the Dutch central bank (DNB) said today.
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Swiss voters to decide on SNB pension cash
SWITZERLAND – Swiss voters will on Sunday decide whether over CHF1bn of the Swiss National Bank’s annual profits will be diverted to the Old Age and Survivors’ Insurance Fund (AHV/AVS). According to opinion polls, those opposed to the move have substantially gained on supporters of the initiative.
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FRR names manager selection committee
FRANCE – The €27.6bn Fond de Resérve pour les Retraites, the French Pensions Reserve Fund, has re-appointed its manager selection committee, with one change.
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EU’s Borrell considering MEPs’ fund director
LUXEMBURG – A decision about the appointment of Law Debenture pension trustee head Eddie Thomas as a specialist director at the MEPs’ pension fund is currently with the President of the European Parliament, Josep Borrell.
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TIAA-CREF puts $100m into microfinance
GLOBAL – US educational retirement savings group TIAA-CREF has earmarked $100m (€78.8m) to invest in so-called microfinance initiatives.
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Horeca taps SPF for €40m private equity brief
NETHERLANDS – Pensioenfonds Horeca & Catering, the €2bn Dutch hotel and catering scheme, has awarded SPF Beheer with a €40m private equity mandate, as part of its 5% weighting target in the asset class.
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DeAM names global consultant relations head
GLOBAL – Susan Small has been appointed as new global head of consultant relations at Deutsche Asset Management (DeAM), the global investment bank announced today.
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AP7 hit by Amaranth hedge fund collapse
SWEDEN – Sweden’s SEK80bn (€8.7bn) Sjunde AP-fonden AP7 buffer fund is among investors who’ve lost out in the implosion of natural gas trading hedge fund Amaranth Advisors LLC.
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Commission set up to review UK rail pensions
UK - An independent Railway Pensions Commission has been set up by the rail unions and employers to review the current railways pensions scheme, chaired by former Pensions Commission member Jeannie Drake.
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Dutch pension taxation case hailed by E&Y
NETHERLANDS – A recent judgement by a Dutch court could put an end to income tax on foreign pension schemes, according to accountants Ernst & Young.
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Hewitt Associates forms Turkish alliance
TURKEY – Hewitt Associates has formed a human resources and actuarial consulting alliance with Turkish management consulting company IDE Consulting.
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DWP eyes separate Personal Accounts body
UK – The Department of Work and Pensions is looking at a separate delivery authority to implement the planned Personal Accounts pensions scheme, according to a top official.
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KEVA, AlpInvest in Polish private equity move
POLAND – Finland’s KEVA and the Dutch pension fund-owned AlpInvest are among the institutional backers of a new Polish private equity fund.
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Cambridge tenders €44m currency brief
UK - Cambridgeshire County Council has tendered a £30m (€44.7m) currency mandate.
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Lewisham considers alternative assets
UK – The £505m (€752m) London Borough of Lewisham pension fund is the next in line planning to go into alternative investments.
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Hermes Pensions Management names new CIO
UK – Hermes Pension Management, the asset manager owned by BT Pension Scheme, has named Roger Gray to succeed Nick Mustoe as chief investment officer.
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European pension reform ‘no effect on savings’
EUROPE – European pension reforms in the 1990s had little impact on savings rates, according to a new academic study.
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More details on €4bn Luxemburg pension tender
LUXEMBURG – The new fund set up to hold Luxembourg’s excess pension revenues has issued a tender looking for fund managers to administer its €4bn in assets.
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Norway state fund rejects real estate before 2007
REAL ESTATE - The Norwegian finance ministry says moving into real estate “just isn’t a priority” for the Government Pension Fund, despite reports of an imminent 8-10% allocation.
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Danish pharmacists come out top again
DENMARK – Farmakonomer, the €1.06bn pension fund for Danish pharmacists, has been named as the best performing Danish pension and life insurance fund for the second year running.
