All articles by Barbara Ottawa – Page 106
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PPF appoints financial risk director
[11:00 CEST 22/05] UK – The £305m (€446.3m) Pension Protection Fund (PPF) has confirmed Martin Clarke in his position as director of financial risk.
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Private equity becomes riskier, says OECD
[11:00 CEST 22/05] GLOBAL – Investing in private equity bears more risk as more money enters the market, the OECD has stated in its latest Financial Market Trends.
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IPE-QUEST: Up to €74m for European equity
[13:15 CEST 21/05] GERMANY – A German corporate pension fund is looking for a manager for a $50-100m (to €74m) European equity mandate using IPE-QUEST.
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ASIP mulls quality label for trustee education
[10:51 CEST 21/05] SWITZERLAND – The Swiss pension fund association ASIP is considering the introduction of quality screening for education institutes offering training for trustees and pension managers.
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Stats reveal fewer second-pillar pensions
[10:51 CEST 21/05] GERMANY – Almost 20% fewer German employees signed a contract with a Pensionskasse in the first quarter of 2007 compared with last year.
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TFR changes give birth to three new funds
[17:00 CEST 18/05] ITALY – Italians working in the craftsmen, transport and agricultural sectors now have industry-specific pension funds.
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Final module completes trustee toolkit
[16:50 CEST 18/05] UK – Information on 'Running your scheme' is the final module of the trustee toolkit assembled by The Pensions Regulator.
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BA halves pension deficit
[13:07 CEST 18/05] UK – Savings from changes to pensionable pay plus the finalisation of an £800m cash injection brought British Airway's (BA) £2.1bn (€3.1bn) deficit in the New Airlines Pension Scheme almost down to £1bn.
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IPE-QUEST: Norwegian insurer in real estate search
[10:57 CEST 18/05] NORWAY – A Norwegian insurance company is looking for managers for a real estate portfolio in excess of $40m (€14.8m) using IPE-QUEST.
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Slovakia pension reforms may bring opt-outs
SLOVAKIA – Changes to the first and second pillar of the Slovak pension system might soon allow people to opt-out of contributing to occupational pension schemes.
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Limit powers of Personal Accounts Board, stakeholders urge
[17:04 CEST 17/05] UK – Stakeholders in the pensions industry want the authorities managing and setting up the individual accounts scheme in the UK to have a very focused and narrow remit, according to a study by the Pensions Policy Institute (PPI).
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Pegaso chooses TFR manager
[17:01 CEST 17/05] ITALY – The €191m pension fund for Italian utility workers is one of the first to choose a manager for a yet unknown amount in TFR severance payments that will enter the fund from July.
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Irish pension funds return 1.3% in Q1
[13:00 CEST 17/05] IRELAND – The average Irish managed pension fund returned 1.3% for the first quarter, giving a annual result between March 2006 and March 2007 to 8.7% - significantly lower than the 24.4% achieved a year earlier.
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Bedfordshire awards £125m mandate
[10:55 CEST 17/05] UK – The £1.07bn (€1.56bn) Bedfordshire County Council pension fund has found a manager for an additional passive equities mandate.
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Publica just beats the benchmark
[16:56 CEST 16/05] SWITZERLAND – Publica, the The CHF33bn (€20bn) Swiss pension scheme for public workers, posted a 4.5% return for its portfolio for 2006.
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Czech pension assets will grow 18% - Rusnok
CZECH REPUBLIC – Annual contributions into the Czech third pillar are set to reach CZK24bn (€850m) this year, said Jiri Rusnok, head of the association of pension funds.
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Commerzbank to sell French AM arm
[13:14 CEST 16/05] GERMANY – Commerzbank, the second-largest German bank, intends to sell its French asset management unit CCR.
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ATP chooses BoNY for custody
[10:54 CEST 16/05] DENMARK – The DKK414bn (€55.6bn) Danish pension scheme ATP has chosen Bank of New York to provide global custody for its assets.
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Tyco pays $3bn in settlement
[16:45 CEST 15/05] US – Electronics company Tyco International agreed to pay shareholders $2.975bn (€2.2bn) to settle accounting fraud claims.
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Dumfries appoints four for £280m
[16:44 CEST 15/05] UK – The £430m (€627.6m) pension fund of the Scottish council of Dumfries & Galloway has appointed four managers for active currency and equity management mandates.
