All articles by Barbara Ottawa – Page 107
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First ETF to track FTSE All-Share
[13:00 CEST 15/05] UK – London is set to become one of the largest ETF trading places in Europe, according to Lyxor Asset Management.
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Cambridgeshire awards £30m currency mandate (amended)
[10:55 CEST 15/05] UK – The £1.3bn (€2bn) Cambridgeshire County Council has awarded two currency mandates. (amends details of second Record mandate win)
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BaFin finds pension funds in good health
[17:02 CEST 14/05] GERMANY – The German financial supervisory authority has stress-tested 125 Pensionskassen and found most of them able to survive a financial crisis.
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Value of Slovak second pillar triples
SLOVAKIA – The Slovakian occupational pensions sector has grown from SKK9bn (€268m) to SKK28bn in its second year since inception.
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Czechs to set up multi-party reform commission
CZECH REPUBLIC – Czech Labour and Social Affairs Minister Petr Necas has announced the creation of a multi-party commission by June, in an attempt to negotiate sustainable pension reforms.
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Strathclyde seeks property valuer
[17:06 CEST 11/05] UK – The £9.6bn (€14.1bn) The Strathclyde pension fund for Glasgow County Council is looking for a new independent property portfolio valuer.
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DekaBank opens Vienna office
[17:02 CEST 11/05] AUSTRIA – German asset manager DekaBank is opening an office in Vienna targeting pension funds in Austria and Eastern Europe.
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MEPs rap UK over Equitable Life
[17:00 CEST] UK – British regulators believed Equitable Life "to be 'too good and too reputable' to make mistakes", according to a special committee of the European Parliament on the alleged mismanagement of the firm.
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Watson Wyatt sees manager selection growth
[13:01 CEST] GLOBAL – Consulting firm Watson Wyatt reported a 44% growth in revenue for its investment consulting section in its third financial quarter.
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Next round in Italian pension talks
[17:02 CEST] ITALY – Unions and the government have returned to the negotiating table to talk about increasing the retirement age and cutting pensions.
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Southwest Germany sets up pension fund
[12:36 CEST] GERMANY – The province of Baden-Württemberg has announced it will establish a pension fund for its civil servants.
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Newham to cash in via JPMorgan
[12:31 CEST] UK – The £540m (€747m) London Borough of Newham Pension Fund has appointed JPMorgan to manage an £15m active currency portfolio.
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Schroders loses balanced LGPS mandate
[17:20 CEST] UK – The £640m (€935m) London Borough of Tower Hamlets Pension Fund has replaced Schroders on a balanced mandate with two specialist managers.
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Commission raps nine over cross-border tax
[17:18 CEST] EUROPE – European governments are being put under pressure by the European Commission and could face court action for being in breach of EU law for their taxation of foreign pension fund investors.
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Austria too optimistic on pensions – IMF
[12:53 CEST] AUSTRIA – Calculations used by the Austrian government for the projection and reform of the pension system’s future expenses might be too optimistic, the International Monetary Fund (IMF) has suggested.
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Portability compromise by end of May?
EUROPE – The German EU presidency is hoping to reach a compromise on the portability directive by the end of the month.
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EPIC advisers bought by hedge fund specialist
UK – Specialist investment adviser Allenbridge has bought a 51% stake in independent pension trustee consultant EPIC Investment Advisers (EIA).
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UBS loses out on institutional money
EUROPE – Swiss bank UBS' asset management saw inflows from institutions in the first quarter fall to CHF2.7bn (€1.6bn) from CHF7bn a year ago.
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Lewisham seeks member thoughts on SRI
UK – The £600m (€878m) Lewisham council pension fund has plans to send out a questionnaire to pensioners and active members to gauge their thoughts on ethical investment issues.
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Edinburgh re-appoints State Street
UK – Edinburgh Council has renewed State Street Global Advisors' contract for a £113m (€180m) Scottish Homes pension fund mandate.
