All articles by Carolyn Bandel – Page 7
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News
BP scheme goes ALM
[15:50 CET 10-12] UK – The £18bn (€20.6bn) UK pension fund of oil giant BP will embark on its first asset liability modelling review of scheme investments and funding, Sally Bridgeland, chief executive of PB Pension Trustees, has revealed.
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EC mulls short-selling ban
[16:20 CET 09-12] EUROPE – Niall Bohan, the head of the asset management unit at the European Commission (EC), today revealed the EC is reviewing short-selling and looking at possible bans on the practice, while seeking to organise stock-lending.
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'Cherish and embrace' activist shareholders
[16:10 CET 09-12] EUROPE – Shareholder activism is an incentive to better governance and value creation which should be “cherished and embraced”, a panel discussion on hedge funds in London stressed today.
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Voluntary retirement confusion forces French law change
[16:00 CET 09-12] FRANCE – The French government is expected to announced adjustments to a new law covering voluntary retirement, following confusion over indemnities payable by employers.
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Quest for global developed markets debt
[15:50 CET 09-12] UK – A UK-based investment consultancy company has said it is looking for a manager to manage a $1bn (€780m) global developed market debt investment grade mandate, using IPE quest.
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Second BA deal under threat over pension scheme
[17:25 CET 08-12] GLOBAL – Australian airline Quantas today identified problems connected to British Airways’ pension fund as one of the “significant matters” that still need to be resolved before a merger with BA can be achieved.
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1 in 5 pension providers still not SRI-proof
[17:20 CET 08-12] NETHERLANDS – Over 20% of Dutch pension funds and pension insurers have yet to make any effort to develop a socially-responsible investment (SRI) policy, according to the Association of Investors in Sustainable Development (VBDO).
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Five of top 10 Dutch funds hit in swap curve dilemma
[17:15 CET 08-12] NETHERLANDS – The Dutch association for industry-wide pension funds (VB), representing giant schemes such as ABP and PFZW, has revealed half of its 10 largest members now have cover ratios of 95% or less.
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PPF taps State Street for risk mandate
[17:05 CET 08-12] UK – The £2bn (€2.3bn) Pension Protection Fund (PFF), the UK’s lifeboat scheme for corporate defined benefit arrangements, has tapped State Street Corporation for a risk services mandate.
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NewsItalian funds to discuss investment review
[16:45 CET 05-12] ITALY – The Italian pension fund regulator Commisione di Vigilanza sui Fondi Pensione (Covip) has invited Italy’s largest pension funds to discuss possible changes to the current investment strategy in light of the credit crunch.
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Concentrate on home territory, warns DNB’s Kellerman
[16:15 CET 05-12] NETHERLANDS – Dutch pension funds and pension providers with cross-border ambitions should put such plans on hold and focus on solving asset shortages caused by the credit crunch, the Dutch pension regulator DNB has warned.
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NewsBMB recruits Chris Walker for European schemes
[17:25 CET 04-12] GLOBAL – Chris Walker, former managing director of Scottish Widows Investment Partnership (SWIP), has joined alternative asset manager BMB Group ahead of the firm's move to launch Shari'a compliant products for European pension funds.
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NewsPGGM combines chief finance and risk management role
[17:10 CET 04-12] NETHERLANDS – Jac Kragt has been promoted to become the chief finance and risk officer (CFRO) at the recently disconnected asset management arm of the giant Dutch health care pension fund Zorg & Welzijn (PFZW).
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NewsFrench money managers warned clean up your act
[17:00 CET 04-12] FRANCE – Ratings agency Fitch has today warned French asset managers they are out of touch and need to regain investors' confidence by offering products which match their needs.
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NewsJP Morgan to shrink equity derivatives teams
[16:55 CET 04-12] EUROPE – JP Morgan is planning job cuts on its derivatives desk by combining its structured investments distributor (SIDM) and financial institutions distributor (FIDM) teams in derivatives marketing in London, IPE has learnt.
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NewsFSCS yet to cover pension scheme buyout protection (amended)
[16:50 CET 03-12] UK – The UK's Financial Services Compensation Scheme (FSCS) has today stressed it has yet to be decided whether it would pay compensation to both members and trustees of pensions schemes where there has been a pensions buyout or buy-in, should the insurance company involved collapse.
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NewsIf IORP ain’t broke, don’t fix it - EFRP
[16:45 CET 03-12] EUROPE – The European Federation for Retirement Provision (EFRP) has told the European Commission there is still no evidence the IORP Directive is failing, making harmonisation of work place pensions and introduction of solvency II-type requirements within the IORP Directive premature.
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NewsWednesday people roundup
[16:30 CET 03-12] GLOBAL – People roundup: USS, Cardano, Bouwfonds Asset Management, T. Rowe Price, Pioneer Investments, Laven Partners, SAM, Pimco, LG, Architas, Insynergy.
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News
ABP votes against Fortis directors (Update)
[16:50 CET 02-12] NETHERLANDS – Giant Dutch pension fund ABP has voted against all but one of the proposed appointments to the board of directors at nationalised Belgian-Dutch bancasurer, IPE has learnt. (Updated with quotes from Paul Frentrop)
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News
Germany warns against ban on dividend payments
[16:45 CET 02-12] GERMANY – German finance minister Peer Steinbrück has warned against a categorical ban on dividend payments by banks which have been rescued by the their governments.
