All IPE articles in September 2009 (Online) – Page 6
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NewsBerkshire plans to hedge longevity
[17:20 CEST 22-09] UK – Berkshire Pension Fund has confirmed it is in the process of completing a deal to hedge the longevity risk for its pensioners.
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NewsWednesday people roundup
[14:15 CEST 23-09] GLOBAL – Ignis AM, Impax AM, Hewitt Associates, BlueCrest Capital Management, Brown Brothers Harriman, F&C IT, Pioneer Investments, MetLife Europe
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Danica extends list of blacklisted car and bomb firms
[15:30 CEST 23-09] DENMARK - Danica Pension, the pensions arm of Denmark’s Danske Bank, has banned three major stocks from its potential investment universe because of ethical concerns about their business activities.
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High-earner pension planning falls under corporate spotlight
[16:30 CEST 23-09] UK – Towers Perrin has revealed FURBS-style pension products are seeing a resurgence of interest, as companies with employees who earn more than £150,000 (€) a year are looking to assist staff who may have to pay pensions tax upfront from next year, when a 50% tax ...
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Expert claims interest in alternatives is waning
[16:40 CEST 23-09] SWITZERLAND – The boom in alternatives has been broken by the financial crisis and Swiss investors are placing their money elsewhere, Michael Brandenberger of Swiss consultancy Complementa has suggested.
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EC presses ahead with plans to end CEIOPS
[16:55 CEST 23-09] EUROPE – The European Commission is going ahead with plans to scrap the existing supervision of EU regulation, as well as the body which supervises pensions and replace it with a new system designed to give officials more authority over key decision-making.
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Norway appoints SourceAsia for ethical screening
[17:00 CEST 23-09] NORWAY – The Norwegian government, on behalf of the Council of Ethics, has appointed SourceAsia and CSR China to carry out internet-based ethical screening of the Asian companies invested in by the Norway Government Pension Fund – Global.
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Harrow overhauls fund manager line-up
[17:05 CEST 23-09] UK – The London Borough of Harrow has appointed four new managers to run the equity portfolio of its £300m (€333m) local government pension scheme, while its bond portfolio is being consolidated under one manager.
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Alpinvest picks up fresh ABP mandate
[16:00 CEST 24-09] NETHERLANDS – APG has extended an investment agreement with Alpinvest, the alternative investment manager, which will see it invest another €4bn on behalf of the ABP pension fund over the coming years.
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Swiss pension funds continue 'say-on-pay' struggle
[16:15 CEST 24-09] SWITZERLAND – The Ethos foundation together with eight pension funds is planning to petition for 'say-on-pay' at another four large Swiss listed companies.
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LGA explores LGPS funding for schools
[16:30 CEST 24-09] UK – The executive of the Local Government Association (LGA) has authorised further investigation into the potential for establishing a collective investment fund for local authority pension schemes, so they may band together to invest in Private Finance Initiatives (PFI).
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Bulgaria may offer multifunds in 2010
[16:35 CEST 24-09] BULGARIA – Multi-funds, or investment portfolios with different risk profiles, could be introduced into the third pillar pensions regime next year if the government adopts a draft law by the end of 2009, the Bulgarian Association of Supplementary Pension Security Companies (BASPSC) has revealed.
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Row over Swiss funding levels
[16:50 CEST 24-09] SWITZERLAND – Many pension funds are back to full funding after a significant market recovery in the first half of 2009 but Swiss experts say widely differing calculations on average 2008 funding levels have left them confused as to what pension funds' true funding levels are.
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UK: WPP default fund charges 'should have stakeholder cap'
[17:00 CEST 24-09] UK - The default fund in workplace personal pensions (WPP) will need to carry charges below the current stakeholder pension level if they are to qualify for auto-enrolment, according to draft guidance published today by the UK government.
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Buyouts not for 84% of UK pension schemes - Punter Southall
[17:05 CEST 24-09] UK - Pension funds would be better off running their liabilities themselves than choosing buyout insurance in 84% of cases.
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UK: DB schemes given 3-yr auto-enrolment deferment
[17:10 CEST 24-09] UK – The government has proposed giving defined benefit (DB) pension schemes a three-year deferment period before implementing auto-enrolment, and stated employers will have to back-date contributions if they wish to switch to a defined contribution (DC) scheme.
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Dilworth surfaces as Allianz GI's German CEO
[15:30 CEST 25-09] GERMANY - James Dilworth, former head of European at Morgan Stanley Investment Management, is joining Allianz Global Investors Germany from 12 October as its new chief executive, ahead of major changes to its European operational strategies.
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Pensionskassen are 'confident' about Austrian court action
[15:45 CEST 25-09] AUSTRIA – Austrian opposition parties have called on the constitutional court to look into the law on pension funds following last year’s investment losses, but the pension fund association is confident the action will be dismissed.
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UK court rules default pension age is legal
UK – The UK High Court has ruled in favour of the government and confirmed the decision to adopt a default retirement age was "legitimate and proportionate", though it warned a review of the regulations next year should consider whether the use of an age 65 retirement date can be ...
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Three in four Irish workers expect retirement delay
[16:00 CEST 25-09] IRELAND/UK – The financial crisis is causing workers to think about delaying retirement, with almost three-quarters of Irish employees claiming they cannot afford to retire, research from Peninsula Ireland has revealed.
