All articles by Carolyn Bandel – Page 6
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Danish scheme seeks bond manager
[16:00 CET 06-01] DENMARK – A Danish pension fund has said it is looking for a manager for a €100m global high yield bond mandate, using IPE Quest.
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Fair value changes could worsen crisis – Edhec
[16:00 CET 06-01] GLOBAL – Over a quarter of investors fear the amendments to IAS 39 and IFRS 7 adopted by the International Accounting Standards Board (IASB) in mid-October 2008 could worsen the current financial crisis, according to a survey by French business school Edhec.
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Philips pension fund sues Hewitt
UK – The trustees of the £2bn (€2.15bn) Philips Electronics UK pension fund have filed a lawsuit against consulting firm Hewitt Associates and one of its former top executives.
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AlpInvest eyes distressed companies
[16:00 CET 05-01] NETHERLANDS – AlpInvest Partners, the private equity vehicle of the two largest Dutch funds, ABP and PFZW, is looking for an almost eightfold increase of its investments in distressed companies.
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Belgian institutions to award debt, equity mandates
[16:00 CET 05-01] BELGIUM – A Belgian institutional investor is seeking managers for an equity large-cap value and a corporate debt mandate, with a combined worth of $200m (€73.5m), using IPE Quest.
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Scandinavian fund seeks equity managers
[17:00 CET 16-12] NORDICS – An industry-wide Scandinavian pension fund is looking for managers for three equity mandates worth at least €115m, using IPE Quest.
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Fortis Investments remains under state control
[17:00 CET 16-12] BELGIUM – Fortis has confirmed its asset management arm will remain under state control, following a Brussels’ Court of Appeal ruling freezing the sale of Fortis Bank's Belgian assets to French bank BNP Paribas.
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Ballendux goes it alone
[16:55 CET 16-12] NETHERLANDS – Frans Ballendux, the former business leader of Mercer Investment Consulting in the Netherlands, has said he will depart from Mercer to start his own investment consultancy business.
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Thousands face pension cut following Xafinity blunder
[15:30 CET 16-12] UK – The UK government has admitted tens of thousands of ex-servicemen, former NHS employees and teachers, and other former public service industry workers now face an pensions cut, following a blunder on indexation connected to Xafinity Paymaster.
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Madoff fraud hits pension funds
[17:05 CET 15-12] GLOBAL – As the list of investors hit by Bernard Madoff’s scam grows, it has emerged pension funds have also been hit by the alleged $50bn Ponzi scheme.
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Defuse pensions time bomb, warns employers' group
[16:40 CET 15-12] UK – The Confederation of British Industry (CBI) has called for an independent commission to analyse the assumptions and the ballooning real cost of public sector pensions.
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Geroa tackles regulator on domestic equity
[16:35 CET 15-12] SPAIN – Geroa Pentsioak, the €712m defined contribution pension fund set up to complement the Spanish state pension scheme for the employees in Basque Country region of Gipuzkoa, is challenging its regulator for more investment freedom.
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Rescue packages tap pension fund reserves
[15:45 CET 15-12] NORWAY/IRELAND – The governments of both Norway and Ireland have announced plans to draw money from their national pension reserves for fiscal stimuli early next year.
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'Go with the bond curve', say Dutch actuaries
[17:15 CET 12-12] NETHERLANDS – The Dutch Actuarial Association has advised pension funds they can now invoke an exemption rule of Dutch pensions law which allows them to use the bond curve rather than the swap curve to calculate the value of their liabilities.
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Shell’s funding ratio tumbles
[17:10 CET 12-12] NETHERLANDS – The Dutch pension fund of Anglo-Dutch oil giant Shell has seen its funding ratio plummet 160% to 85% in less than a year.
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Venice mulls pension money for local infrastructure
[16:30 CET 12-12] ITALY – The local government of the Veneto region in the North-East of Italy is considering using the resources of its local pension funds to finance regional infrastructure projects.
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ABP and VBL work together on border scheme
[15:50 CET 12-12] GERMANY/ NETHERLANDS – ABP, the €193bn Dutch pension fund for civil servants, and VBL, the €13bn German public sector supplementary insurer, are working together to create a new scheme for a Dutch-German border hospital.
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Elkarkidetza halves equity allocation
[17:20 CET 11-12] SPAIN – The Bilbao-based Elkarkidetza, the pension fund for Basque Country provincial and local government employees, has cut its equity exposure from 32% to 15% this year amid market turmoil.
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APG eyes European pension assets
[17:10 CET 10-12] EUROPE – Pension provider and asset manager APG Group is continuing its push for expansion abroad in 2009, focusing on developed European markets, according to director of pension administration Jaap Maassen.
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Wednesday people roundup
[17:05 CET 10-12] GLOBAL – People roundup: UBS, Putnam, T. Rowe Price, Axa IM, First Private, Jyske Invest, Laven Partners.
