Investor Strategy – Page 141
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News
PFZW bases recovery plan on 6.9% yield
[16:45 CET 30-03] NETHERLANDS - Pensioenfonds Zorg & Welzijn (PfZW), the Dutch industry-wide pension fund, is pinning its hopes on achieving a yield of 6.9% alongside with a long-term interest rate of 3.6%, as the basis for its recovery plan presented to the financial regulator.
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PME backtracks on plan to cut benefits
[16:00 CEST 30-03] NETHERLANDS – PME, the €18.7bn industry-wide pension fund for metal workers, has decided it will not cut pensioner benefits as part of its proposals to improve the underfunded pension plan but it will freeze benefits paid and the contributions required for the next five years.
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News
Footballer scheme’s positive return from 100% fixed income
[17:10 CET 27-03] NETHERLANDS - The €560m ‘pension fund’ for Dutch professional football players generated positive returns of 1% after allocating all its assets to fixed income investments in mid-2008.
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Royal Mail trustees 'agnostic' about part-privatisation
[16:50 CET 27-03] UK – Trustees of the Royal Mail Pension Scheme have written to all 450,000 members to confirm it “has no position” on government plans for the part-privatisation of Royal Mail.
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ONS to monitor signs of DC 'levelling down'
[15:00 CET 27-03] UK – The Office of National Statistics (ONS) intends to monitor changes in the average level of employee and employer contribution rates to contracted-in defined contribution (DC) schemes to see if there are signs of “levelling down” ahead of 2012.
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News
NBIM wants improvement in child labour policies
[14:00 CET 27-03] NORWAY – Norges Bank Investment Management (NBIM) has revealed an "overall low" level of compliance with its expectations on children's rights across four investment sectors.
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News
Powys seeks global equity replacement
[12:00 CET 27-03] UK – Powys Council is seeking a global equity manager to manage a £27m (€28.9m) mandate, while the Royal borough of Kensington and Chelsea (RBKC) is tendering an actuarial contract.
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Credit Suisse challenges M&S’s pensions calculations
[11:00 CET 27-03] UK – Marks & Spencer, the high street chain, is likely to face higher than anticipated pensions liabilities at its next triennial review, according to an analyst at Credit Suisse, as the calculations the firm used to establish its discount rate is substantially higher than its peers ...
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News
ICTU calls off pension strike to enter talks
[16:40 CET 26-03] IRELAND – The Irish Congress of Trade Unions (ICTU) has called off next week's planned one-day national strike over pensions, and is returning to talks with the government over the development of an "integrated national response".
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News
DNB sticks firm to yield curve for liabilities
[17:20 CET 23-03] NETHERLANDS - Pensions regulator DNB is sticking to its earlier position stating it will not consider an instrument change for calculating liabilities, despite continued calls from the industry.
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News
Governance and funding to be scrutinised - Omtzigt
[17:15 CET 23-03] NETHERLANDS – A Dutch MP has warned local pension fund executives and trustees must expect tougher scrutiny in the coming months as questions will be asked as to “what went wrong” with and who is responsible for current funding levels.
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ANWB proposes 'creative' plug to pensions gap
[16:15 CET 23-03] NETHERLANDS – ANWB, the executive body of a motorists’ lobbying organisation, has proposed to plug the financial hole in its pension fund with an agreed 3.3% salary increase.
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News
Lothian to revise investment strategy
[17:20 CET 20-03] UK – An investment review of the Lothian pension fund is recommending changes to its investment strategy including an 11-percentage point increase in alternatives.
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News
Icelandic pension funds under investigation
[17:20 CET 20-03] ICELAND – Iceland's special prosecutor is investigating five pension funds over claims they exceeded the investment limits laid down by law.
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News
Social security fund lost 18%
[20-03] SWITZERLAND – The AHV/AVS Swiss Social Security pension fund saw its assets under management fall by 18.2% in 2008 and is now reviewing the timeframe within which it makes asset allocation decisions as a result.
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News
BLPK returns -14.78%
[16:55 CET 20-03] SWITZERLAND – The Basellandschaftliche Pensionskasse (BLPK) saw its assets plunge to CHF4.3bn (€2.9bn) from CHF5.2bn the year before following a return of -14.78%.
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News
Newham makes first move towards diversified alternatives
[16:50 CET 20-03] UK – The London Borough of Newham pension fund is planning to allocate approximately 10% of its assets in a diversified alternatives strategy and has now taken the first step towards appointing a manager.
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News
ING to boost DB schemes by €814m
[16:30 CET 20-03] GLOBAL – ING Group, the Netherlands-headquartered life and pension provider, is boosting its own pension fund with an extra contribution worth €814m this year in a bid to help clear the company’s pension deficit.
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News
PPF consults on solution to s161 concerns
[17:10 CET 19-03] UK – The Pension Protection Fund (PPF) is consulting on a solution to address concerns regarding its powers to “disclaim” an investment contract when a scheme enters the PPF.
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News
Fully-reinsured pensions face trouble - DNB
[17:00 CET 19-03] NETHERLANDS - Dozens of Dutch company pension funds who reinsured their assets and liabilities are now being challenged by market conditions and confronted with increased credit risks at their reinsurers, according to financial regulator DNB.
