All IPE articles in September 2008 (Online) – Page 7
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News€9.8bn PGB extends SRI portfolio
[14:15 CEST 10-09] NETHERLANDS – The €9.8bn pension fund for the printing and publishing industry Pensioenfonds Grafische Bedrijven (PGB) has awarded a €60m social responsible investment (SRI) mandate to asset manager Threadneedle.
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NewsWednesday people roundup
[14:00 CEST 10-09] GLOBAL – People roundup: PADA, SEB, Threadneedle, Fidelity International, AXA IM, Mn Services, SEI, Cardano, BAAM, Permal Group, Northern Trust, Metzler Asset Management, Mirae, Lonkal.
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NewsAnti-fraud guidance unveiled on Dutch real estate
[13:30 CEST 10-09] NETHERLANDS – The Dutch Association of Institutional Property Investors (IVBN) has extended its earlier framework to prevent fraud in institutional real estate investment, as the second Dutch pension fund to be hit in the ‘bouwfraude’ case continues its internal probe.
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EC finally consults on pensions impact of Solvency II (amended)
[17:05 CEST 09-09] EUROPE – The European Commission has issued a consultation paper asking the fundamental, yet controversial, questions concerning the competition and cost implications of requiring pension funds to meet the same requirements as insurers under the Solvency II directive.
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NewsAP4 and AP7 report first half losses
[17:05 CEST 09-09]SWEDEN - Fjärde AP-fonden (AP4), the Fourth Swedish National Pension Fund, saw assets drop SEK17.5bn (€1.8bn) in the first half of 2008, while Sjunde AP-fonden (AP7) reported negative investment returns for both the Premievalsfonden and the Premiesparfonden.
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State pension no longer safe bet, finds DIA
[16:15 CEST 09-09] GERMANY – The German institute for retirement provision DIA has presented research revealing the state pension plan leaves pensioners bearing more risk than a funded pension plan.
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NewsBankpension places €141m in value-tilt strategy
[14:00 CEST 09-09] DENMARK – Bankpension, a Danish fund offering company pension schemes to financial sector employees, has allocated $200m (€141m) of its assets to a value-tilted strategy run by State Street Global Advisers (SSgA).
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NewsNorway excludes Rio Tinto over environmental damage
[13:30 CEST 09-09] NORWAY – The Norwegian Government Pension Fund – Global has withdrawn NOK4.84bn (€604m) investment from Rio Tinto over concerns it is causing "severe environmental damage" through a joint mining operation in Indonesia.
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Irish Bill to stop pensions investment in cluster bombs
[13:00 CEST 09-09] IRELAND – The Irish government has drafted a new Bill on investment in munitions such as cluster bombs that will specifically change the investment policy of the National Pension Reserve Fund (NPRF).
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NewsMn Services and Syntrus Achmea set aside differences
[11:45 CEST 09-09] NETHERLANDS – Pension providers Mn Services and Syntrus Achmea intend to reach an agreement on merging the two companies within eight weeks, setting aside earlier shareholder issues.
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Brinkman foresees Optas agreement
[11:00 CEST 09-09] NETHERLANDS – Elco Brinkman, the exiting chairman of the Dutch teachers and civil servants pension fund ABP, will continue his mediation in the Optas case and may deliver his a conclusion within the next four weeks.
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NewsUCITS III 'heading for mid-life crisis'
GLOBAL – The investment industry is calling for next generation UCITS IV structures as the credit crunch is hindering the short-term growth of Undertakings in Collective Investments and Securities (UCITS) funds, suggests a survey by Create-Research.
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DB deficit increases to £36.7bn
[16:15 CEST 08-09] UK – The aggregated funding position of almost 7,800 UK defined benefit (DB) schemes worsened in August as the total deficit increased to £36.7bn (€45.5bn), the Pension Protection Fund (PPF) has revealed.
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Environment Agency's SRI drive boosted by equity awards
[16:00 CEST 08-09] UK – The Environment Agency's £1.5bn (€1.9bn) Active Pension Fund has awarded three new global equities mandates following the termination of contracts by State Street Global Advisors (SSGA) and Capital International.
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NewsAP1 pursues US small caps managers
[14:45 CEST 08-09] SWEDEN - Första AP-fonden (AP1), the first Swedish national pension fund, is seeking both passive and active US small cap equity managers for a total portfolio valued at $500m (€351.7m).
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NewsPhilips’ scheme doubles alternatives allocation
[15:30 CEST 08-09] NETHERLANDS - The €13bn pension fund electronics giant Philips has considerably increased its allocation to alternatives, in order to better cope with the changed market conditions.
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NewsBGI snaps up Fuhr
[15:00 CEST 08-09] UK – Barclays Global Investors (BGI) has today revealed it has signed Deborah Fuhr as its global head of a newly-created exchange traded funds (ETF) research and implementation strategy.
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NewsEuropean investors excluded from US class action
[14:15 CEST 08-09] EUROPE – A US federal judge has ruled institutional investors in France, the Netherlands and UK should be wholly or partially excluded from a US class action against French transportation manufacturer Alstom SA.
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NewsFat cats stir Dutch pensions regulation
[13:45 CEST 08-09] NETHERLANDS – Dutch minister of finance Wouter Bos has withdrawn a measure that broke with the so reverse-rule (‘omkeerregeling’) which had been designed to limit tax benefits on pension contributions, but final pay pensions of above €500,000 will instead now be levied.
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Polish payout bills get first reading
POLAND – Two bills intended to complete Poland's pension reform had their first reading in the Polish Parliament on Friday and will now be passed to the parliamentary social insurance committee.
