Funding – Page 122
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NewsUK roundup: PwC on AIFM, Aviva closes final salary scheme
UK – The UK asset management industry is unprepared for the implementation of the Alternative Investment Fund Managers (AIFM) directive, with only 2% saying they know how to implement the changes, according to a study conducted by PwC.
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NewsThird-quarter profits soar by 26% at Danica Pension
DENMARK – Danica Pension – the country's largest commercial pensions provider – saw profits increase by more than a quarter at the group level in its latest interim report, with contributions from international business more than doubling in a year.
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NewsSecurity, liquidity overtake returns as German investors' top priority
GERMANY – Security and liquidity have become the chief concerns for German institutional investors, with returns now secondary, says Union Investment.
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NewsUK roundup: PPF, NAPF, Pension Capital Strategies, Lothian Pension Fund
UK – The Pension Protection Fund (PPF) has announced positive returns for 2009-10, leading to a £400m (€460m) surplus for the organisation.
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NewsDutch fund PGB doubles return with interest, currency hedges
NETHERLANDS – The €11.3bn pension fund for the Dutch printing industry PGB saw its return over the first nine months almost double to 13% thanks to an extensive interest and currency hedge.
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NewsAllied Irish Banks holdings result in loss for NPRF portfolio
IRELAND – The National Pension Reserve Fund (NPRF) has seen part of its portfolio post negative returns of 2.5% due to its holdings in Allied Irish Bank.
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NewsNordic roundup: Skagen Fonder, PPM, Gjensidige, Alecta, AMF, Länsförsäkringar
EUROPE – Skagen Fonder, the largest foreign manager within the Swedish premium based state pension system PPM, is considering withdrawing its funds from the system.
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NewsSolvency II rules could increase pension contributions by 30%, says Dutch minister
EUROPE – Contributions could soar by as much as 30% if Solvency II rules are applied to pension schemes, according to Paul de Krom, the new Dutch minister of social affairs and labour.
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NewsDutch maritime fund threatens 13.2% benefits cut
NETHERLANDS – The €200m pension fund of Dutch maritime service provider Smit Internationale has said it intends to cut pension benefits by 13.2% if its sponsoring company refuses to make additional contributions.
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NewsUK roundup: Northern Ireland, Edinburgh Partners, Sackers, Towers Watson, TPR
UK – The Northern Ireland Local Government Officers' Superannuation Committee (NILGOSC), which administers the country’s local government pension scheme, has awarded a global equity mandate to Edinburgh Partners.
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NewsProfits over first three quarters soar at Denmark's ATP
DENMARK – ATP has generated a profit of DKK17.4bn (€2.3bn) over the first nine months of this year, overshooting its target for the entire year, with all five asset classing posting positive returns.
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NewsAssets at Nordea's Life & Pensions division surge by 19%
EUROPE – Nordea's Life & Pensions division saw a significant rise in the value of assets under management in the third quarter of this year, which the Nordic and Baltic banking group attributed to asset price growth, as well as net inflows.
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NewsSwiss roundup: Swisscanto, Credit Suisse, Melbourne Mercer
SWITZERLAND – Funding at Swiss Pensionskassen has returned to levels seen at the end of last year, according to a survey by Swisscanto.
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SNPF considering alternative recovery measures, appoints chairman
NETHERLANDS – The board of the €1bn pension fund for notaries (SNPF) said it was considering alternative recovery measures to avoid rights cuts after supervisor De Nederlansche Bank (DNB) turned down its suggestions for a tailor-made recovery.
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NewsDutch pension funds return 6.4% in first half
NETHERLANDS – Dutch pension funds returned 6.4% over the first six months of the year, according to State Street Investment Analytics.
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NewsSwedish roundup: Skandia Liv, Handelsbanken Liv, Swedbank, AI Pensions, AP7
SWEDEN – Skandia Liv, the life and pensions insurer, returned 6.7% for the first nine months of the year as a result of its high real estate holdings, which posted returns of 8.9% for the period.
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NewsUniq proposes deficit-for-equity swap with trustees
UK – Food manufacturer Uniq has proposed a deficit-for-equity swap to its pension fund trustees in a deal that would see the fund take control of 90% of company shares.
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NewsLow interest rates cancel out strong returns at largest Dutch schemes
NETHERLANDS – The four largest Dutch pension funds saw their coverage ratios drop during the third quarter – despite strong returns – due to the sharp drop in long-term interest rates.
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NewsUK Pension Protection Fund takes on another 17 schemes
UK – The UK Pension Protection Fund (PPF) has accepted 17 new schemes for compensation in September, including 1,768 individuals who are already are receiving pensions from the safety net.
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NewsUK roundup: Pension Insurance Corporation, BDO Investment Management, EMI, Equitable Life
UK – The risk transfer market was buffeted by underlying asset volatility in the third quarter, according to Pension Insurance Corporation's Q3 2010 Pension Risk Transfer index.
