All articles by Carolyn Bandel – Page 27
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News
Parmalat ends Hermes suit following fresh settlement
[17:00 CEST 02-05] ITALY – Italian dairy company Parmalat has dropped the lawsuit against Hermes Focus Asset Management Europe after reaching a settlement in the shareholder class action lawsuit for which Hermes was the lead-plaintiff.
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BaFin includes pension funds in its MaRisk
[16:10 CEST 02-05] GERMANY – The German financial services watchdog Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has written to its members - including pension funds - stressing governance frameworks need to be in place for the introduction of Solvency II.
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Citi and State Street sell CitiStreet for $900m
[13:30 CEST 02-05] GLOBAL/NETHERLANDS – Citigroup and State Street Corporation today announced they have entered into a definitive agreement with ING Group over the sale of the US pension provider CitiStreet.
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Hungary fond of foreign equity despite losses
[15:45 CEST 01-05] HUNGARY – Hungarian pension funds saw their assets drop by 8.1% in the first quarter of this year to HUF1,856bn (€7.34bn), according to Bamosz, the association of Hungarian investment fund and asset management companies.
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NewsCIMA warns against 'apocalyptic demography'
[16:20 CEST 30-04] UK – A life expectancy increase of two years could add £45bn (€57bn) to the liabilities of UK defined benefit (DB) pension funds, according to a report by the Chartered Institute of Management Accountants (CIMA).
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News
SNS closes Swiss Life deal
[16:00 CEST 30-04] NETHERLANDS/BELGIUM – Dutch bank insurer SNS Reaal has today announced it has closed the acquisition of Zwitserleven including its asset management arm and Swiss Life Belgium.
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Wednesday people roundup
[15:30 CEST 30-04] GLOBAL: People roundup – Lehman Brothers, SLI, Threadneedle, Skagen Funds, SWIP, Russell, Mercer, Barrie & Hibbert, Barclays Capital, Comgest, Hymans Robertson, ECM, Pioneer, LCP, Sacker & Partners, Aegon Global Pensions, RMS, STOXX.
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News
Swiss BVK fund separation postponed
[13:30 CEST 29-04] SWITZERLAND – Plans to outsource the CHF21.7bn (€13.4bn) Swiss BVK pension fund to a private foundation from January 2009 have been postponed following a drop in its funding level.
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News
UK mineworkers sack UBS
[16:00 CEST 28-04] UK – The £14.8bn (€18.9bn) UK Mineworkers’ Pension Scheme has terminated its £1.3bn global equity mandate with UBS Global Asset Management, and replaced it with two new managers.
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UK schemes’ pooled equity sees biggest quarterly drop
[15:30 CEST 28-04] UK – Weightings to UK equity in domestic balanced pooled funds fell to an all-time low of 41.5% during the first quarter of this year, according to BNY Mellon Asset Servicing.
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NewsDutch preachers launch SRI index fund
[14:30 CEST 28-04] NETHERLANDS – The €1bn pension fund for pastors and preachers of the Dutch protestant church has, together with SNS Asset Management, launched a European responsible equity index fund.
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22% of Irish schemes have reduced benefits – Mercer
[12:30 CEST 28-04] IRELAND – Around 22% of Irish defined benefit (DB) pension schemes have modified their benefits in the last two years, and have generally reduced future benefits in some form, according to consultancy firm Mercer.
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News
TIAA-CREF mulls European co-operation
[14:00 CEST 25-04] GLOBAL – The New York-based Teachers Insurance and Annuities Association-College Retirement Equities Fund (TIAA-CREF), the second largest retirement plan in the US with assets of $435bn, is considering co-operating with European pension funds.
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News
ATP suffers in Q1
[14:00 CEST 24-04] SWEDEN – ATP Group, which manages Denmark’s giant labour market supplementary fund, is the next in line to be hit by losses on equities during the first quarter of 2008.
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AP3 sceptical about hedge fund replicators
[12:30 CEST 24-04] SWEDEN – Dan Bergman, head of risk allocation at Sweden’s SEK225bn (€24bn) AP3 fund, said he is sceptical about so-called hedge fund replicating strategies as a tool for diversification.
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News
PZW loses €2.5bn in first quarter
[12:00 CEST 24-04] NETHERLANDS – Giant Dutch pension fund PZW, managed by PGGM, saw its asset fall by €2.5bn in the first quarter of this year to €85.8bn, because of "strongly negative" equity returns.
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News
Lucent pension fund gets name change
[11:00 CEST 25-04] NETHERLANDS – The €547m Dutch pension fund of telecommunication systems manufacturer Lucent Technologies has changed its name following a merger with its sister pension fund Alcatel, IPE has learnt.
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Wednesday people roundup
[14:00 CEST 23-04] GLOBAL – People roundup: Hewitt, Fidelity, Watson Wyatt, Pioneer, KPS, Investec, Redington Partners, LCP, Aberdeen, Northern Trust, Barings, Rowanmoor, SWIP, DNB.
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News
PFZW fund adds voice to life cycle critique
[13:00 CEST 23-04] NETHERLANDS – Peter Borgdorff, head of PFZW, the €90bn Dutch industry-wide pension fund for the healthcare and welfare sectors, has added his fund’s voice to criticism of lifecycle investing.
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News
Swiss pension funds underperformed in 2007
[16:15 CEST 22-04] SWITZERLAND – Nearly half of all Swiss pension funds delivered performances which were below the 2.5% minimum Pension Fund Act basic rate of return in 2007, while some even booked negative returns.
