Investor Strategy – Page 122
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News
AP3 alters strategy after improved returns
SWEDEN – The first four AP-funds in the Swedish pension system between them produced an average return of 19.4% in 2009, equivalent to a net profit of SEK 133.8bn (€13.6bn), to bring the total vlaue of assets to SEK 808.8bn.
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AKA calls for legal certainty in German provincial pensions
[16:50 CET 18-02] GERMANY - A key figure at the German association of local and church pension schemes (AKA) has claimed postponing funded pension schemes because of the financial crisis could be detrimental to trust in the pensions system.
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MetallRente and Nokia/Siemens 'content' with 2009 returns
[16:30 CET 18-02] GERMANY – The CTA of the Nokia Siemens Networks achieved a 7.3% return on investments last year while the multi-employer scheme MetallRente managed between 4.5% and 5.1% in 2009.
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UK roundup: North Yorks, PPF, PADA
[17:10 CET 17-02] UK – North Yorkshire Pension Fund is planning to tender a "plain vanilla" corporate bond portfolio as it seeks the best way to deploy assets currently invested with European Capital Management (ECM).
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Germany's BVK to increase external management
GERMANY – BVK, the €45bn collective retirement vehicle for over 1.5 million self-employed people and employees in Bavaria, will be fine-tuning each one of its 12 portfolios as part of changes to its strategic asset allocation (SAA) and increasing external management.
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News
Fund managers waver over 2010 growth
[16:50 CET 16-02] GLOBAL - Fund managers are expecting only modest economic growth this year according to two new surveys published today, one of which suggests there has been a fresh loss of confidence in the European investment market.
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BPF Bouw rebuilds ground to grant indexation
[16:45 CET 16-02] NETHERLANDS - The recovery of BPF Bouw, the €26bn pension fund for the building industry, has been so successful that it is already able to grant all its participants 1.45% indexation.
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Two UK authorities review Mercer contract
[16:00 CET 15-02] UK - Mercer’s investment consulting team is under review at two UK local authority pension schemes.
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UBS Global AM under renewed pressure following dismissals
[16:00 CET 15-02] UK - UBS Global Asset Management has suffered dismissals by two UK local authority pension schemes.
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FRR rebounds to hold €33bn in assets
[16:30 CET 12-02] FRANCE – Fonds de Reserve pour les Retraites (FRR), the French national pension reserve, saw its assets recover to €33.3bn by the end of 2009, thanks to a 15% gain led by the equities rally.
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NewsAba dismisses idea for fund-based pensions as counterproductive
GERMANY – The German investment federation (BVI) has unveiled proposals for investment fund-based occupational pensions which could lead to further self-management of the second pillar. But the pension fund association aba has warned it is sceptical of the new idea.
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News
Brandenburg starts to fund pension
[16:45 CET 11-02] GERMANY – The German province of Brandenburg will start filling its pension fund for civil servants this year.
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News
AP6 admits trust damaged by Xeratech scandal
[15:30 CET 11-02] SWEDEN - The board of AP6, one of the Swedish national buffer funds, has concluded in a review of its decision-making processes that its appointment of Åsa Rödén as the CEO of Xeratech was inappropriate because she was in a relationship with AP6’s chief executive, Erling Gustafsson.
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News
Trustees called on to drive pensions innovation and guarantees
[16:20 CET 10-02] EUROPE – A consultancy on UK pensions liabilities has suggested the defined contribution pensions market could learn lessons from the retail investment sector and use its purchasing power to buy members a form of structured guarantee.
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DNB to focus on pension fund 'integrity'
[16:15 CET 09-02] NETHERLANDS- Pensions regulator De Nederlandsche Bank intends to focus its supervision this year on the effect that behaviour and culture has on the integrity of pensions funds and insurers.
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NewsDC trustees want, but worry about, active investing
[15:30 CET 09-02] GLOBAL – Pension funds trustees are likely to want to opt for active management of defined contribution pension schemes in the coming years. Yet they fear applying such a strategy could be a battle, new research on the concept claims.
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NewsUK roundup: PPG Industries, Merseyside, Premier Foods
[17:00 CET 08-02] UK - The PPG Industries pension scheme is adopting a delegated consulting approach, while Merseyside has re-tendered £500m (€571m) of equity portfolios and Premier Foods is considering longevity solutions for its pension scheme.
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News
Dividend-seeking investors warned against reliance on energy
[16:15 CET 08-2] UK – Dividends paid by BP and Royal Dutch Shell amounted to a quarter of the dividends paid by UK listed companies last year. Yet experts have warned the true picture may not be as good this year as growth is expected to “stagnate” or even fall ...
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NewsSwedish update, Part 2: East Capital, Pensioner tax
[17:05 CET 05-02] SWEDEN - East Capital has temporarily closed one of its funds in the Swedish national defined contribution pension system, known as the PPM.
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News
PPF requires extra investment skills as assets grow
[16:40 CET 05-02] UK – The National Audit Office (NAO) has commended the Pension Protection Fund (PPF) for retaining a healthy balance sheet during the recession, but warned it needs to take steps to manage its increasing assets efficiently and perhaps adapt its investment processes.
