All IPE articles in September 2009 (Online) – Page 3
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News
Interest hedge lowers Dutch housing fund's Q2 return
[17:00 CEST 09-09] NETHERLANDS - The €4.4bn pension fund for housing corporations (SPW) saw its returns on investments of 7.1% in the second quarter adversely affected by its large interest hedge on liabilities.
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Global downturn knocked 21% off London fund
[17:10 CEST 09-09] UK – The London Pensions Fund Authority (LPFA) scheme dropped £551m (€625.9m) in the year to 31 March 2009 to reach £3.02bn, as the global economic downturn caused the asset values of its investment portfolios to plummet.
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East Riding of Yorkshire seeks investment manager
[17:15 CEST 09-09] UK - East Riding of Yorkshire Council has launched a tender for investment management services for one-third of its pension fund portfolio, equivalent to £500m (€568m).
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Lithuanian funds gain 13% in first eight months
[17:20 CEST 09-09] LITHUANIA – The 28 funds in the Lithuanian second pillar posted an average return of 12.79% for the first eight months of 2009 after 19.9% losses in the previous year.
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Swiss rail fund recovery go-ahead under new chief
[17:20 CEST 09-09] SWITZERLAND - Markus Hübscher who will take over in November as head of the Swiss federal railway pension fund (SBB PK) will be implementing a ten-year recovery plan.
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Romanian funds increase equity allocation
ROMANIA – Equity levels among second pillar pension funds have increased to between 5 and 6% over the last few months but remain low compared to last year, latest figures from the Romanian pension fund association (APAPR) have revealed.
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Latvia plans pension changes from 2011
LATVIA – The Latvian government has revealed new pension reforms are being planned to come into effect from January 2011 in an attempt to further reduce the budget deficit.
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Lothian appoints three transition managers
[16:00 CEST 10-09] UK - The £2.6bn (€2.97bn) Lothian Pension Fund has appointed BNY ConvergEx, Barclays Global Investors and State Street to its transition panel for pension fund investment services.
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News
Belgian pensions return 4.2% in H1
BELGIUM – Belgian pension funds produced an average weighted return of 4.21% in the first six months of 2009, figures from the Belgian Association of Pension Institutions (BVPI) have revealed.
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News
German BMF accepts ECJ ruling on Riester
[16:45 CEST 10-09] GERMANY/EUROPE – The European Courts of Justice (ECJ) ruled today that Germany was violating European Union regulations on freedom of movement with parts of its law on the state-subsidized supplementary Riester pension.
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News
Finland imposes DC pensions on state company executives
[16:50 CEST 10-09] FINLAND – The government has agreed new guidelines for the remuneration of executives in state-owned companies including a requirement that new pension schemes should be established on a defined contribution (DC) basis.
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Longevity may cut private pension income to 5.9% of GDP - PPI
[17:00 CEST 10-09] UK - Income from private pension schemes could fall from an estimated 6.1% of UK GDP in 2012, to 5.9% by 2032, if life expectancy increases in line with projections, according to the Pensions Policy Institute (PPI).
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News
Swiss and Danish funds launch manager searches
[13:00 CEST 11-09] IPE-QUEST - Two new manager searches have been placed on IPE-Quest. The first is for a balanced mandate for a Swiss pension fund, the second is a real estate search for a Danish fund.
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News
Swedish AP funds join sustainability initiative
[15:45 CEST 11-09] SWEDEN/NORWAY – The four Swedish AP pension buffer funds are among 13 institutional investors that have signed up to the Sustainable Value Creation Initiative (SVC) to encourage companies to adopt good governance of sustainability issues.
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News
Strathclyde completes strategy review
[16:55 CEST 11-09] UK – The £8.39bn (€9.6bn) Strathclyde pension fund is considering the creation of a "new opportunities" portfolio following the conclusion of the triennial review of its investment strategy and structure.
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Irish public sector pensions hit €108bn
[17:00 CEST 11-09] IRELAND – The accrued present value of public sector pension liabilities was estimated at €108bn at the end of December 2008, according to figures from the Comptroller and Auditor General (C&AG).
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News
Gloucestershire appoints global equity manager
[17:00 CEST 11-09] UK - Gloucestershire County Council has appointed GMO as global equity manager for its £737.5m (€843.2m) pension fund.
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News
AIFM Directive may still be strengthened, warns Rasmussen
[17:30 CEST 11-09] EUROPE - Members of the fund management community have reacted angrily to suggestions that the scope of the European Union’s Draft Directive on Alternative Investment Fund Managers (AIFM) could be widened, and its provisions strengthened rather than weakened, before it becomes law.
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News
Vauxhall pensions ‘unlikely to change’ after GM Europe sale
[17:40 CEST 11-09] UK – GM’s decision to sell its Vauxhall subsidiary to the Canadian company Magna International, along with its German operation Opel, is very unlikely to affect the Vauxhall pension schemes, according to officials at the UK car manufacturing group.
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News
Ascoop returns 7.29% to July
[16:55 CEST 14-09] SWITZERLAND – The CHF2bn (€1.3bn) multi-employer fund for the Swiss transport industry is back on positive ground with its old strategic allocation.
