All articles by Julie Henderson – Page 27
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News
Talking Point: the security of a sponsoring employer
TALKING POINT -The turbulence of the last year has shown while many pension funds' risk strategies are focused on the short-term volatility of the financial markets, economic pressures elsewhere could present bigger questions about the strength of the employer covenant or a sponsor's financial backing.
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SSGA beefs up European equity team
[17:00 CET 24-11] EUROPE - State Street Global Advisors (SSgA), the investment management arm of State Street Corporation, has poached two fund managers from rivals BGI and Axa Rosenberg in a bid to boost its European equities team.
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'Common language needed' for pensions
[16:00 CET 24-11] EUROPE – The continuing row over pensions solvency and differing regulatory systems could be solved by developing a common language for pensions, regardless of the provider or delivery, according to Jos Streppel, chief financial officer at Aegon NV.
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And the IPE Awards 2008 winners are…
[00:15 CET 21-11] EUROPE – De Eendragt Pensioen NV, the pension provider for the paper and packaging industry pension fund, was tonight named as the ‘best of the best’ European pension funds at the IPE Awards 2008 while Philip Neyt was honoured with an award for his Outstanding Contribution to ...
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EC challenges success of pension reforms
[11:00 CET 19-11] EUROPE – Officials at the European Commission’s employment, social affairs and equal opportunities DG have questioned whether pension reforms introduced across Europe over recent years can in fact been successful after all and whether funded pension systems run by some member states will provide enough income at ...
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USS to aim for 30% alternatives target
[16:00 CET 18-11] UK – Officials at the UK’s second-largest pension fund, the Universities Superannuation Scheme, are planning to alter the asset allocation to make alternatives worth up to 30% of the total portfolio.
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F&C to be handed to Friends Prov shareholders
[17:15 CET 31-10] UK – F&C, the asset management firm which is 52% owned by UK life insurer Friends Provident, is likely to be wholly owned by its shareholders from next year, but officials say they are still talking to buyers.
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NewsShell refines UK pension terms
[17:25 CET 30-10] UK – The £12.1bn (€15bn) Shell Contributory Pension Fund is revising the terms of its defined benefit scheme from next year which requires new members to retire later and receive a lower aggregate of their salary.
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NewsPension supervision intensifies as crisis takes hold
[17:00 CET 30-10] GLOBAL – Pensions supervisors across the globe have stepped up their supervision of pension fund reporting and increased the frequency of stress tests on asset liability strategies on the back of credit crunch market turbulence, the International Organisation of Pension Supervisors has revealed.
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DTCC closes out $500bn in Lehman's bankruptcy
[16:30 CET 30-10] GLOBAL – The Depositary Trust and Clearing Corporation at one stage processed a total of 209 million open trades related to the collapse of Lehman Brothers in a single day, and has now closed out bankruptcy trading contracts worth over $500bn.
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Wednesday people roundup
[16:15 CET 29-10] GLOBAL – People roundup: Schroders, Redington Partners, Climate Change Capital, P-Solve, Hermes, Alexander Forbes
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UK fiduciary growth to hit £300bn
[14:45 CET 29-10] UK – Asset managers are predicting the recent turbulence in the financial markets could spark a growth of fiduciary management worth £300bn in UK pension fund assets by 2012.
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Pension funds knock BGI off the top
[17:10 CET 28-10] NETHERLANDS – A study of Dutch pension funds has unsurprisingly revealed APG, PPGM and Mn Services have removed Barclays Global Investors as the largest asset manager to Dutch pension funds, but evidence suggests foreign players are increasing their presence in the fiduciary market.
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Aviva continues European push in tough markets
[16:55 CET 28-10] GLOBAL – Aviva Investors, the asset management arm of the bancassurance giant Aviva Group, increased its presence in the Polish and Dutch pensions markets in the first nine months of this year.
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Essex tenders 10% to global equity
[16:45 CET 28-10] UK – Essex County Council is searching for an asset manager to look after up to £300m (€375m) of its £3.1bn in pension fund assets via a global equity mandate.
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DC members see pensions drop over a quarter
[16:45 CET 27-10] UK – Employees investing for retirement through defined contribution pension arrangements have seen the value of their assets fall by £157bn (€194bn) or over 28% in the last 12 months, according to data from Aon Consulting.
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ABP begins long-term recovery plan
[16:30 CEST 23-10] NETHERLANDS – ABP, the Netherlands’ largest pension fund, will have to submit a proposal to the pensions regulator explaining how it will improve its solvency ratio as latest figures from the €195bn pension fund shows its cover ratio has dropped below 125%.
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Cover ratio holds as assets fall at PFZW
[13:01 CEST 23-10] NETHERLANDS – PFZW, the industry-wide pension fund for Dutch healthcare workers, has seen its assets fall over 8% since the beginning of this year to just under €82bn but its nominal cover ratio is still above the reporting level required by the regulator to meet pension liabilities.
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Insolvency diligence needed over pensions threat - Mercer
[17:00 CEST 21-10] EUROPE – Pension fund executives have been advised to improve their diligence and monitoring of corporate sponsors’ covenants and counterparty risks in the current economic climate at the same time as watching their fluctuating liabilities.
