All articles by Julie Henderson – Page 23
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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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Brinkman relinquishes position at ABP
[15:45 CET 23-03] NETHERLANDS - Harry Borghouts has been appointed as the interim chairman of ABP pension fund, as Elco Brinkman is stepping down after eight years in the role.
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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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Quest begins to find commodities and GEMs
[17:05 CET 20-03] IPE QUEST – A Swiss pension fund is looking CHF400-600m (€261-392m) in commodities in a global mandate sought through IPE-Quest.
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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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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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IORP review confirms pensions solvency complications
[16:30 CET 19-03] EUROPE – Pension funds operating under Article 17 of the Institutions for Occupational Retirement Provision (IORP) rules would have to undergo significant overhaul were the EC to ever consider making IORPs adapt to Solvency II rules, suggest responses to the European Commission consultation on harmonisation of solvency ...
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Shell warns of need to plug €6.3bn deficit
[15:45 CET 18-03] GLOBAL – Royal Dutch Shell plc, the parent sponsor of several European funded and unfunded pension schemes, today warned shareholders it may have to contribute a further $5-6bn (€3.8bn-€4.56bn) to its pension funds over the coming years to fill a deficit of $8.3bn.
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Stay online with the Dutch pensions market – in Dutch
NETHERLANDS - IPE, Dutch sister title, IP Nederland, is now regularly updating its Dutch language pensions site with the latest news, analysis and commentary.
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Pension funds consider valuation date shift
[16:45 CET 16-03] UK – Pension funds might be able to improve their pension funding valuations by a fraction if they shift the exact date on they assess all of their assets each year away from popular target dates in December and March.
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Consultants state position on conflicts of interest
[17:20 CET 11-03] EUROPE – Pensions and investment consultants still appear to be in disagreement when asked whether giving both advice and selling multi-manager investments within a single firm creates conflicts of interest.
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John Lewis sees leap in DB scheme demand
[16:20 CET 11-03] UK – John Lewis Partnership, the high street chain, saw over 11,000 employees, or ‘partners’ as they are known within the firm, join its defined benefit last year when the terms were changed to open further access.
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F&C saw assets drop ahead of independence
[17:00 CET 10-03] EUROPE – F&C Asset Management executives have admitted drumming up business was difficult in 2008 while its ownership was in question but hope the firm’s status as a soon-to-become independent entity will boost its business potential over the coming months.
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FRR still in search of US equity manager
[15:15 CET 10-03] FRANCE – FRR, the €27bn French national reserve pension fund, has signed seven firms to manage equities mandates worth €2.3bn, but is still searching for a suitable manager to take care of a €800m US equities active value account.
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Crisis forces pensions measures back to gilts
[16:55 CET 09-03] UK – Hewitt Associates has conducted a study of 50 pension fund clients which suggests all will in future base their defined benefit funding assumptions on a gilts-based measure, even though it could increase liabilities by up to 30%.
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EC admits 'pensions are not immune to crisis'
[16:25 CET 09-03] EUROPE – European pension funds have not suffered during the ongoing economic crisis in the same way as other financial institutions, according to the European Commission, but defined benefit schemes in particular are likely to see “challenges” as they struggle to pull back their funding balances.
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Aviva bucks trend to increase assets in 2008
[16:35 CET 05-03] GLOBAL – Aviva Investors, the asset management division of Aviva Group plc, managed to increase its group funds under management last year and keep third-party assets stable, though profits earned from the division have fallen by over 20%.
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NewsPension fund advice leads to take-up of AVCs
[16:00 CET 05-03] UK – The West Midlands Pension Fund is running an initiative giving its over 50s members free financial advice and which has in turn led some members receive an extra 20% tax free on some of their pension savings.
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Gov't shareholders are 'the new normal' - Pimco
[16:40 CET 04-03] GLOBAL – Asset management house Pimco is advising investors will have to rethink what makes a good investment in the coming years as governments are changing the investment game by acting as shareholders.
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NewsAllianz GI sees lower income but eyes consolidation
[16:50 CET 03-03] EUROPE – Allianz Global Investors saw its net income fall by over 21.5% in 2008 on the back of lower investment returns and subsequently reduced performance fees, but officials are still looking for buying opportunities within the asset management sector.
