All articles by Daniel Brooksbank – Page 7
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IPE AWARDS: Ilmarinen named Best European Fund
IPE AWARDS – Finland’s Ilmarinen was named Best European Pension Fund 2006 at the sixth annual IPE Awards ceremony in Paris today.
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UK: actuarial liability disclosure “meaningless”
UK – The Pensions Regulator says 83% of respondents to a consultation reckon the inclusion of actuarial liabilities within pension funds’ financial statements would be meaningless and costly.
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Irish schemes shun alternatives - IAPF
IRELAND – Alternative assets such as hedge funds, private equity and currency are “generally unpopular” with the trustees of defined benefit pension funds in Ireland, says the Irish Association of Pension Funds.
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France's FRR names 'extra-financial' providers
FRANCE - The Fonds de Réserve pour les Retraites, the €29bn French Pensions Reserve Fund, has named three providers of "extra-financial" advice.
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Merseyside Pension Fund head Parry retires
UK – The £4bn (€5.9bn) Merseyside Pension Fund is seeking a new head to take over from John Parry, who is retiring.
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Pension directive cases launched today (Update)
EUROPE – Cases against three European Union member states over the pension fund directive have been launched today at the European Court of Justice, Internal Markets Commissioner Charlie McCreevy told the annual IPE Awards (Updates with more detail.)
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Finland’s Filatov to chair portability meeting
EUROPE - Tarja Filatov, Finland’s Minister of Labour, is to chair a meeting of European ministers on Friday that will discuss the Commission’s proposed directive on pensions portability.
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Henderson makes European appointments
EUROPE – Henderson Global Investors has made a series of appointments in Zurich and Amsterdam.
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Nordea asset head to take over as CEO
EUROPE - Christian Clausen, Nordea’s head of asset management and life, is to take over from Lars Nordström as president and group chief executive.
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UK government publishes new Pensions Bill
UK – The UK government has published its long-trailed Pensions Bill, including provisions to set up a “delivery authority” for the proposed national pensions accounts system.
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Roche pension chief ‘in Swissfirst trade’ - paper
SWITZERLAND – The pension investment head for Swiss pharmaceuticals giant Roche personally profited from trading with shares of Swissfirst bank in September 2005, Swiss daily Blick reported today.
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IPE-QUEST: Eastern European equities tendered
CANADA – iNFiNi-t Wealth Management Advisers has tendered $1m in active Eastern European mid- and large-cap equities for a Canadian client via IPE-Quest.
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Cambridge University names CIO for €1.8bn
UK – The University of Cambridge has named Man Global Strategies’ Nick Cavalla as its first chief investment officer - to oversee more than £1.2bn (€1.8bn).
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Warning over €58bn of univested buyout funds
EUROPE – There was a warning today from mezzanine finance specialist Intermediate Capital Group that the European private equity buyout market, with some €58bn of uninvested funds, is overheating.
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Management accountants warn on LDI risk
UK – The Chartered Institute of Management Accountants has warned that adopting a Liability Driven Investing strategy could mean missing out on excess return.
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Ex-Hermes deputy CEO Metcalfe joins First State
UK - Charlie Metcalfe, the former deputy chief executive at Hermes Pensions management, has been named as CEO of First State Investments.
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Asset management fees stable since 2004 – Mercer
GLOBAL – Institutional asset management fees have remained stable since 2004, according to Mercer Investment Consulting.
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Swiss institutional equity exposure hits new low
SWITZERLAND – Swiss institutional investors’ exposure to equities has declined to a new low, according to figures from the Swiss National Bank.
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McCreevy slams “myth” of unregulated hedge funds
EUROPE – Charlie McCreevy, the European Commission’s Internal Markets Commissioner, has attacked what he says is the myth that hedge funds are not regulated.
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Henderson opens Madrid office
SPAIN - Henderson Global Investors says it has opened a Madrid office headed by former Merrill Lynch executive Alastair Seymour.
