All IPE articles in September 2009 (Online) – Page 6
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NewsSwiss 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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NewsLithuanian 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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NewsEast 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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NewsGlobal 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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NewsInterest 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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NewsWednesday people roundup
[16:50 CEST 09-09] GLOBAL – Stichting Pensioenfonds Holland Casino, Commerz Real, Aon Pension Solution, Personal Accounts Delivery Authority, Northern Trust, Norges Bank Investment Management, AXA Real Estate Investment Managers, HSBC Global Asset Management, SEI, Future Capital Partners
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NewsUK DB schemes target 83% buyout funding level
[16:45 CEST 09-09] UK – The average target funding level for defined benefit (DB) schemes has increased from 69% to 83% of funds required for a buyout, according to latest research from Mercer.
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NewsEstonian LHV fund shows best results
ESTONIA – Recovering equity markets have boosted Estonian pension plans but the return rates differed greatly among the six providers in the mandatory market.
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NewsAIFM directive would restrict global investments - IMA
[17:45 CEST 08-09] EUROPE – The UK's IMA has sharpened the debate on the EU's Alternative Investment Fund Managers (AIFM) draft directive and has called for institutional investors to participate in lobbying activity.
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NewsPensions Board prosecutes firm over funding certificate
[17:15 CEST 08-09] IRELAND - The Pensions Board has successfully prosecuted an engineering company for failing to submit an actuarial funding certificate for its pension fund within the required time frame.
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NewsHillingdon seeks global infrastructure manager
[17:10 CEST 08-09] UK - The London Borough of Hillingdon Pension Fund has launched a tender for a manager to run a global infrastructure mandate.
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NewsUK DB deficit increases to £173bn
[16:15 CEST 08-09] UK - The aggregate deficit of almost 7,400 DB funds worsened by £15.1bn (€17.3bn) over the month of August to reach £173.2bn by the month-end, according to the Pension Protection Fund (PPF).
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NewsBT refuses to be drawn on partial buy-out rumours
[17:55 CEST 07-09] UK - Both BT and Hermes, investment managers of the BT Pension Scheme, have refused to comment on press speculation that BT is considering a partial buyout of the scheme.
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NewsSwiss funds need board member training
[17:50 CEST 07-09] SWITZERLAND – While close to all Swiss pension funds are complying with the law and have both worker and employer representatives on the board, the level of knowledge differs greatly, according to a study commissioned by the government and published this summer.
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NewsIrish public sector review to feed into pension policy
[17:45 CEST 07-09] IRELAND – A review of public service pensions conducted by the Comptroller and Auditor General, expected to be released by the government shortly, will feed into a range of "possible initiatives" relating to public sector pensions.
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NewsHampshire targets UK property in next 12 months
[17:30 CEST 07-09] UK – Hampshire County Council is looking to almost double its pension fund's exposure to UK commercial property over the next year to meet the 8% target allocation agreed before the market downturn.
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NewsWaltham Forest appoints HSBC for investment advice
[17:20 CEST 07-09] UK - The London Borough of Waltham Forest has awarded a £150,000 (€171,585) contract to HSBC Actuaries & Consultants for investment consultancy services to its pension fund. HSBC were chosen from five interested parties who made offers.
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NewsIreland proposes reform of pension tax relief
[17:15 CEST 07-09] IRELAND – The Commission on Taxation has recommended the existing arrangement for tax relief on pension contributions should be changed to a system of matching contributions.
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NewsCollaboration improves pension benefits - report
[16:50 CEST 04-09] GLOBAL – Pension fund boards may be able to deliver improved returns and lower costs if they collaborate with other, larger, parties to provide enhance benefits over time, and if they apply governance structures with higher expertise, claims a report examining pensions and healthcare regimes across the ...
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NewsSwiss analysts dismiss pension funds’ stabilising role
[16:00 CEST 04-09] GERMANY/SWITZERLAND – Swiss financial analysts disagree with their German counterparts about the stabilising role of pension funds in turbulent markets, a survey commissioned by Allianz has found.
