All IPE articles in September 2009 (Online)
View all stories from this issue.
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News
PKE appoints CEO following staff turnover
[16:00 CEST 01-09] SWITZERLAND - The Swiss energy sector pension fund PKE has appointed Ronald Schnurrenberger as its new chief executive.
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Poland to reform pension sales activity
POLAND – The Polish government is working on a reform of the second pillar, which would see the end of sales agents working for pension funds, IPE understands.
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NewsExpert panel to review Norway Global active strategy
[16:30 CEST 01-09] NORWAY – The Ministry of Finance has appointed an international group of specialists to evaluate the active management of Norges Bank in relation to the Government Pension Fund – Global as part of an external review into the continuation of active management strategies.
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Lothian focuses on alternatives in new strategy
[17:00 CEST 01-09] UK – Lothian Pension Fund is set to increase its allocation to alternative assets from 24% to 35% in a gradual transition to its new investment strategy.
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Enfield seeks manager, Thames Water hunting actuary
[17:05 CEST 01-09] UK – The London Borough of Enfield is seeking an active manager to run a global equity mandate worth £55m (€62.4m), or 12% of its pension fund, as at end-June.
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News90% of UK DB schemes now closed
[17:10 CEST 01-09] UK – The first report of the Association of Consulting Actuaries’ survey on pension trends has found that 87% - nearly nine out of ten – UK DB schemes are now closed to new entrants. Of these, 18% are also closed to future accrual.
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NewsUK DB liabilities top £1trn
[17:15 CEST 01-09] UK – The combined pension liabilities shown in company accounts for the UK’s 200 largest privately-sponsored pension schemes has reached £500bn (€567bn) for the first time, according to Aon Consulting.
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Swiss investor looking for global developed markets debt manager
[13:30 CEST 02-09] IPE QUEST – A Switzerland-based institutional investor is looking for the manager of a corporate debt mandate covering global developed markets.
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USS picks Hermes’ Gray as CIO
[15:45 CEST 02-09] UK – The Universities Superannuation Scheme (USS) has appointed Roger Gray as chief investment officer. He replaces Peter Moon, who will stay on as a consultant until April 2010, when he retires after 17 years at USS.
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Wednesday people roundup
[15:50 CEST 02-09] GLOBAL – Jupiter Investment Management Holdings, PKE, Nordea Life Assurance Finland, TPR, Alliance Trust, SEB Enskilda, Sampo Group, J P Morgan Asset Management, Setanta Asset Management, Muse Advisory, Jones Lang LaSalle
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News
Camden to consider real estate increase
[16:55 CEST 02-09] UK – The London Borough of Camden is considering the next stage of the restructure of its pension fund investment portfolio including a potential increase in property.
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German institutions do better to manage assets themselves – study
[17:15 CEST 02-09] GERMANY – Domestic institutional investors managing more than half their assets internally perform better than those that mainly outsource, according to a survey conducted by the consultancy Complementa and the Bavarian Centre of Finance.
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Danish pensions buoyed by investment returns
[17:20 CEST 02-09] DENMARK - Improved investment results have boosted returns at several of Denmark’s pension funds in the first half of the year, but weak workforce mobility and job losses have hit contribution and transfer income for some funds.
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News
Dutch asset managers can opt for supervision
[17:25 CEST 02-09] NETHERLANDS - The Dutch government has offered local asset managers the option of a voluntary supervisory regime. The aim is to increase their attractiveness to foreign institutional investors.
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Parliament seeks balance on Dutch pension boards
[15:30 CEST 03-09] NETHERLANDS - MPs in the Dutch parliament have rejected calls for a higher number of pensioner members on pension scheme boards and instead argued lobbying groups should be better represented at industry-wide pension funds.
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Solvency II could slash pensions by 20% - UK insurer
[16:30 CEST 03-09] UK – Legal & General (L&G) has repeated a warning that annuity levels for UK-based defined contribution pension scheme members in the UK could fall by up to a fifth, if Solvency II is enacted in its current form.
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AIFM depository could increase systemic risk - EFAMA
[16:30 CEST 03-09] EUROPE – The European asset management industry’s central lobbying group has warned key changes are still needed to the Alternative Investment Fund Managers Directive or politicians could end up ratifying legislation which in fact increases the potential for systemic risk.
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News
Irish managed funds return 3% in August
[16:45 CEST 03-09] IRELAND – Irish managed pension funds have produced a positive return for the sixth month in a row, resulting in an average return of 14.5% in the first eight months of 2009.
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News
AP4 and Folksam target corporate bonds and loans
[16:45 CEST 03-09] SWEDEN – Fjärde AP-fonden (AP4), the Fourth Swedish National Pension Fund, has joined forces with Swedish insurer Folksam to invest in a vehicle targeting private corporate bonds and public corporate loans.
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News
50% of DB schemes need to focus on long-term risk
[16:50 CEST 03-09] UK – Half of all UK defined benefit (DB) pension schemes do not have a long-term strategy for reducing risks, despite 80% acknowledging the need to address de-risking, joint research by Hymans Robertson and PensionChair Network has revealed.
