All IPE articles in September 2006 (Online) – Page 7
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Three years recovery period for Dutch pension funds
THE NETHERLANDS - Pensions funds in a position of underfunding will get a reprieve of three years instead of one year to recover, a majority within the parliament has indicated.
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NBIM to take on more corporate governance staff
NORWAY – Norges Bank Investment Management, in the news over the disinvestment of Wal-Mart, looks to be boosting its corporate governance efforts with new staff.
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UK PPF to review levy calculation for 2008/9
UK – The Pension Protection Fund says it plans a “full review” of how it calculates the levy it charges pension schemes for the 2008/9 levy year.
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Ex-ING pensions head Nijssen joins consultant
NETHERLANDS – Former ING pensions head Jan Nijssen has joined Dutch pensions consulting and law firm Montae’s executive board in a move to expand the firm’s pensions consultancy offerings.
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Siemens sets up Pensionsfonds in Germany (updated)
GERMANY – Technology giant Siemens has set up an Anglo-Saxon style Pensionsfonds, says German financial services regulator BaFin (Updates with clarification from Siemens).
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Grafische staff transfer to KAS
NETHERLANDS – Grafische Bedrijfsfondsen (GBF), the umbrella organisation for the Dutch graphics industry’s €10bn pension funds, is to outsource its back office investment activities to KAS Bank.
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NAPF changes stance on pension accounts
UK - The National Association of Pension Funds, under new chief executive Joanne Segars, has changed its mind on plans to introduce individual pension accounts by 2012.
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Hamburg sets up €1.3bn pension fund
GERMANY – Hamburg has created a new €1.33bn fund to meet pension obligations from 10,000 people employed at five institutions owned by the German city-state.
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PGGM may separate asset management and admin
NETHERLANDS – Dutch healthcare pension fund PGGM has confirmed it is discussing separating its asset management and administration from the actual pension fund, and to house both within a cooperative.
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Siemens Swiss pension fund manager arrested
SWITZERLAND – Roland Rümmeli, portfolio manager of the CHF1.7bn (€1.1bn) Siemens Switzerland pension fund, is being held in custody following his arrest in connection with investigations into the Swissfirst scandal on Friday. He was also suspended by the Siemens AG.
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Hewitt under review at Cork university scheme
CORK – Consultants Hewitt Associates is facing a review at the €191m University College Cork Statutory Pension Scheme, based in south of Ireland.
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Three Norwegian councils tender for pension services
NORWAY – Three Norwegian local councils, Rygge, Lindås and Vågsøy, are tendering for group pension services in total worth NOK42m (€4.7m).
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Dutch regulator optimistic on pensions
THE NETHERLANDS - The present position of the Dutch pension funds is reason for cautious optimism, said Dirk Witteveen, director pensions of regulator De Nederlandsche Bank (DnB).
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Van Essen to head PGGM’s executive directors
THE NETHERLANDS - Heino van Essen has been appointed as chairman of the executive directors of PGGM, the industry-wide pension fund for the health care and social work sector has announced.
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Pension funds pick up more of Exista from Kaupthing
ICELAND – Icelandic pension funds have bought a further stake in financial services group Exista from Kaupthing Bank, the bank announced today.
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Planned Hungarian first pillar reforms "insufficient"
HUNGARY - The Hungarian first pillar requires radical "paradigmatic" reform, according to Lajos Bokros, CEO and professor of economics and public policy at the Central European University in Budapest.
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Swedes and Dutch scrutinise private equity funds’ role
EUROPE – A week before general elections, the Swedish government has raised concerns about private equity fund Cevian’s investment approach in Volvo.
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Norway fund defends Wal-Mart divestment despite ‘flawed’ screening criticism
The Norwegian Government Pension F – Global today responded robustly to allegations that its equities screening process was arbitrary, opaque and unfair.
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ABN Amro scheme licenses ORTEC software
NETHERLANDS – Pensions software firm ORTEC says it has licensed its PALM asset liability management product to the €8bn ABN Amro Pension Fund.
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Cordares hires business development staff
NETHERLANDS – Dutch industry-wide pensions provider Cordares says it has expanded its sales, strategy and innovation team with three new members.