All articles by Carolyn Bandel – Page 56
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Regulators tells trustees to up their ante in LBOs
UK – The Pensions Regulator today warned pension scheme trustees they must scrutinise more closely employer covenant changes in cases of corporate transactions such as buyouts.
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Wednesday people roundup
GLOBAL – Fortis, Hewitt, Robeco, Investment Solution, Mercer, Higham Dunnett Shaw, SWIP, NBIM.
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Class action set to rise in Europe
GLOBAL – European institutional investors are increasingly participating in US securities class actions, a new study by international voting bureau Institutional Shareholder Services (ISS) shows.
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Internal control needs to be on agenda – Scott
UK - Derek Scott, chairman of trustees for the £1bn (€1.5bn) Stagecoach Group pension fund, says pension funds need to develop a more natural approach to internal control.
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New pension design for Philips
EUROPE – Dutch electronics major Philips is rolling out a new hybrid pension design for non-executive workers in the UK and Germany.
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UN’s PRI hits $8trn mark
GLOBAL – The Principles for Responsible Investment (PRI), the international programme set up to consider social responsible investing (SRI) issues, has attracted $8trn (€5.9trn) since launching last April.
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LAPFF targets Shell in oil pay protest
UK – The Local Authority Pension Fund Forum (LAPFF) is continuing its drive to reform oil companies’ pay deals by now calling for Anglo-Dutch oil giant Shell to attach safety-related performance targets to its management remuneration packages.
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Watch out for LDI ‘nostrum’ – King
UK - Companies which offer Liability Driven Investment (LDI) solutions should carefully review whether they are making unrealistic representations, warns Max King, fund manager at Investec Asset Management.
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ABP, PGGM and Mn join ABN Amro rebellion
NETHERLANDS – ABN Amro, which has agreed to a £90bn merger with Barclays Bank, has come under fire from a small group of rebel institutional investor over the sale of its US subsidiary.
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New ECJ occupational pensions ruling due
SPAIN – A European Court of Justice (ECJ) ruling on a Spanish legal challenge that could affect occupational pension schemes is expected to be made in August.
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Ciba axes BlackRock
UK – The UK pension fund of Swiss pharmaceuticals giant Ciba Speciality Chemicals has axed BlackRock in favour of Insight Investments.
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VB says Dutch industry schemes improve
NETHERLANDS – Dutch industry wide pension schemes are further improving their total financial position, according to the funds’ umbrella organisation, the Vereniging voor Bedrijfstakpensioenfondsen (VB).
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Wednesday people roundup
GLOBAL – Hewitt, Credit Suisse, Ethos, Aon, Pearl, Invesco, GO, F&C, Colliers, Threadneedle, First State.
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Paints giant to inject €500m into UK scheme
NETHERLANDS – Dutch paints giant, Akzo Nobel will pay up to €500m into its UK subsidiary’s €1.9bn pension fund in the second or third quarter of this year, the company announced today.
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Eumedion condemns empty votes (amended)
NETHERLANDS – Institutional shareholders are too passive, making little use of their shareholder rights and are in danger of developing a herd mentality, says Eumedion, the Dutch institutional corporate governance platform.
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PGGM has majority stake in volatility hedge fund
NETHERLANDS – The €83bn Dutch pension fund PGGM, one of Europe’s largest schemes, has an almost 63% stake in the Maple Leaf Macro Volatility Fund.
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IPE-QUEST: High yield and TAA managers
EUROPE – A UK pension fund is looking for an active high yield bond manager for a $20m (€14.7m) global developed markets mandate using IPE-QUEST.
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Norwegian maintenance funds appoints KLP
NORWAY – The NOK38m (€4.7m) Renovasjonen IKS, a new fund set up for the merged maintenance teams in Norwegian municipalities Stavanger and neighbouring Sandnes, has appointed KLP as its fund manager.
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Unilever taps JP Morgan for global equities
UK – The €5.6bn (£3.8bn) UK pension fund of household goods giant Unilever has appointed JP Morgan’s asset management arm to run a £440m global equities mandate.
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IPE-QUEST: Six searches for $600m to close Tuesday
EUROPE - Six of the 14 fixed income searches currently open on IPE-QUEST will close next Tuesday.
