All articles by Julie Henderson – Page 29
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News
Court issues warrant over missing pensions
[15:45 CEST 25-09] IRELAND – Dublin County Court has issued a warrant for the arrest of a director at Limestone Construction in Ireland after he failed to turn up at court when summoned for the non-payment of missing pension assets.
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LPFA reviews actuary
[17:00 CEST 24-09] UK – The London Pension Fund Authority is tendering a mandate for actuarial services to support its work in managing pensions.
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Pension funds limit derivatives default risk
[16:45 CEST 24-09] UK – Pension funds could have suffered huge losses on their derivatives positions last week had they not demanded such tough terms on collateralisation and mark-to-market valuations, according to investment consultant Watson Wyatt.
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Pensions funds seek relaxation of regulatory pressures
[15:45 CEST 24-09] IRELAND – Representatives of the Irish pensions industry are meeting with social and family affairs ministry officials today to see if solutions can be found to reduce members’ funding pressures under current market conditions.
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TPR scraps mortality assumption trigger (updated)
[17:05 CEST 23-09] UK – The Pensions Regulator has scrapped earlier proposals to introduce a funding trigger effectively based on long-cohort mortality assumptions.
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ECJ tackles age discrimination in pensions
[16:50 CEST 23-09] EUROPE – The European Court of Justice has unveiled two key judgment developments today which suggest pensioners cannot argue they have a right to work beyond the state retirement age if the employer does not allow it while companies can also refuse to pay benefits on the ...
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Pensions drive corporate culture change
[15:30 CEST 23-09] EUROPE - The impact of regulatory and funding pressures on employers is forcing a major cultural shift within companies and is changing the make-up of people involved in pensions decisions.
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Gwynedd drop UBS in search for active equity
[14:45 CEST 23-09] UK – The pension fund of Welsh local authority Gwynedd Council is searching for a global equity manager to look after approximately 20% of its assets, following an overhaul of its strategy which led to reduced roles for UBS and Capital International.
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L&G consults on DB contributions change
[16:40 CEST 22-09] UK – UK insurance group Legal & General is consulting members of its £1.1bn (€1.37bn) defined benefit scheme and bidding to reduce contributions in the hope this will also lower its liabilities.
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Lehman's UK pension seeks PPF rescue
[16:00 CEST 22-09] UK – Trustees of the Lehman Brothers Pension Scheme have taken the first steps to find out whether the UK defined benefit pension fund should fall under the management of the UK’s pensions lifeboat fund.
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Pension funds review status of Lehman class action
[12:00 CEST 22-09] UK – Lawyers acting for two UK pension funds are now reviewing the terms of the current securities class action against Lehman Brothers and its directors following last week’s collapse of the company, to work out whether the new action will effectively have to be taken against ...
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BT fund stopped short-selling ahead of crackdown
[17:10 CEST 19-09] UK – The BT pension scheme had already acted to stop the securities lending of certain financial stocks earlier this week, before the UK and US regulators stepped in to halt such activity.
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News
Putnam’s money market fund falls victim
[16:45 CEST 19-09] GLOBAL – Putnam Investments has been forced to close its prime money market institutional fund and return the assets to investors, just as consultants warn money market fund liquidity could be the unintended victims of this week’s market turbulence.
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News
Forced swap event raises prices for pension funds
[17:00 CEST 18-09] EUROPE – European pensions funds may already be paying as much as 20bps more to replace the swaps they held before the Lehman Brothers collapse was announced this week, as bid/offer spreads have widened as much as 10 basis points among contract suppliers, on top of the ...
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BA landed with fresh pensions deficits
[17:00 CEST 18-089] UK – British Airways has seen its pension liabilities increase again in current market conditions as trustees of its two defined benefit schemes have both reported fresh deficits.
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Financing to keep AIG afloat for break-up
[17:00 CEST 17-09] GLOBAL – The US Federal Reserve has granted global financing firms and their investors a last-minute rescue package by agreeing to invest up to $85bn (€60bn) in American International Group.
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News
Barclays to take on Lehman’s transition management?
[16:45 CEST 17-09] GLOBAL – Barclays Group has purchased key elements of Lehman Brothers investment banking so part of that deal appears to be to take on the firm’s transition management services to pension funds, however, no progress has been made yet on the sale of Lehman’s asset management wing.
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News
HBOS rescue could marry Insight and SWIP
[16:15 CEST 17-09] EUROPE – Insight Investment and Scottish Widows Investment Partnership (SWIP) could be merged into a £200bn (€250bn) asset management house as Halifax Bank of Scotland (HBOS) is in talks with rival Lloyds TSB following fresh falls in its share price.
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Central banks pump money markets as AIG shares spiral (amended)
[17:05 CEST 16-09] GLOBAL – Central banks injected huge sums of money into the capital markets today in a bid to prevent from liquidity from seizing up but turbulence in the markets is still driving the price of equities down and bonds prices up as all eyes are now on ...
