All articles by Julie Henderson – Page 30
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News
Lehman Brothers bankruptcy sparks Monday meltdown
[17:10 CEST 15-09] GLOBAL – Pension funds have moved quickly to assess their financial positions today following the Chapter 11 insolvency investment banking giant Lehman Brothers’ voluntary and Bank of America’s takeover of Merrill Lynch, but many are also being advised the unwinding of financial positions could significantly affect asset ...
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PPF seeks support for research series
[16:40 CEST 12-09] UK – The Pension Protection Fund is looking to hire a firm to conduct market research and public opinion polls on behalf of the UK corporate pension lifeboat.
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Pioneer’s FoHF team suffers resignations
[16:15 CEST 12-09] US/IRELAND – Pioneer Investments has been forced to confirm nine people have resigned from its fund of hedge funds team but the firm is seeking to reassure clients it is business as usual.
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NewsLothian re-tenders transition management
[15:30 CEST 12-09] UK – Edinburgh Council is reviewing its current arrangements for a transition manager on behalf of three authority-run pension schemes.
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IASB and FASB convergence edges closer
[16:30 CEST 11-09] GLOBAL – The International Accounting Standards Board (IASB) and US Financial Accounting Standard Board (FASB) have updated their Memorandum of Understanding (MoU) concerning joint projects and likely convergence, and effectively confirmed the US’ move to follow international financial reporting standards (IFRS).
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NewsLehman Bros overhauls firm after $3.9bn loss
[16:55 CEST 10-09] GLOBAL – Investment banking giant Lehman Bros is separating its commercial real estate business as a new listed entity and selling a majority stake in its investment management division after yet more writedowns generated a third-quarter net loss of $3.9bn (€2.76bn).
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EC finally consults on pensions impact of Solvency II (amended)
[17:05 CEST 09-09] EUROPE – The European Commission has issued a consultation paper asking the fundamental, yet controversial, questions concerning the competition and cost implications of requiring pension funds to meet the same requirements as insurers under the Solvency II directive.
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Resolution rebranding to spark wider pensions push
[17:05 CEST 04-09] EUROPE – Resolution Asset Management is rebranding as Ignis Asset Management and has plans to widen its appeal to European pension funds by harnessing the talents of its former Dutch pension fund experts at sister company Axial Investment Management.
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News
Irish DC members may switch in ‘semi-state’ DB change
[17:00 CEST 29-08] IRELAND – Trustees of defined contribution pension schemes at Irish universities are considering recommending their members move into defined benefit schemes following a recent decision by the Irish government to take responsibility for the assets and liabilities of ‘semi-state’ bodies’ pension plans.
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Aegon taps new Spanish wealth
[16:45 CEST 29-08] SPAIN – Aegon, the Netherlands-headquartered insurer and asset manager, has taken a 50% stake in the life and pensions arm of north-eastern Spanish savings bank Caixa Terrassa for €190m, in a bid to expand the take-up of its life and pensions offering.
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'Sophisticated' Dutch funds lead LDI pack
[17:00 CEST 28-08] NETHERLANDS – Dutch pension fund strategies have been described as being the most advanced among their developed country peers, as a study of executives suggests the majority have adopted liability-driven investment (LDI) strategies alongside the broadest range of products.
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ABP extends microfinance commitments
[16:00 CEST 28-08] NETHERLANDS – ABP, Europe’s second-largest pension fund by value, has stepped up its position in microfinance investing, and asked Swiss asset manager BlueOrchard to manage a further €50m.
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News
Crédit Agricole suffers in tough conditions
[13:45 CEST 28-08] FRANCE – Crédit Agricole Group confirmed it is shaking up its Calyon operation on the back of announcing writedowns related to bond protection while its investment management division saw its assets under management fall by over €7bn in the first half of this year.
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One in eight Europeans to reach age 80
[17:00 CEST 27-08] EUROPE – The number of people living to the age of 80 or more will almost triple by 2060, and almost one-third of the population will be over 65, the European Commission is predicting.
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News
ATP investment returns drop as charges rise 20%
[16:45 CEST 27-08] DENMARK- ATP Group, Denmark’s largest pension fund provider, has revealed investment returns substantially reversed in the first half of this year at the same time as it is raising costs to its members.
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News
Wednesday people roundup
[15:30 CEST 27-08] GLOBAL – People roundup: State Street, Hermes, HSBC Actuaries & Consultants, MetLife, Sinopia AM, Alexander Forbes Trustee Services. F&C, New Star International, Barrie & Hibbert
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News
Sainsbury’s pension moves into de-risking strategy
[16:00 CEST 26-08] UK – The £4.2bn (€5.3bn) J Sainsbury pension and death benefit scheme may have seen a fall in the value of its pension assets limited as officials altered its investment strategy in the last financial year to cope with swings in the bond and equity markets and ...
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News
Danish pension fund pursues high alpha strategy
DENMARK – A Danish industry-wide pension fund is looking to place €50m of its assets under a high alpha European equities strategy, and is looking for a manager to handle it, via IPE Quest.
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News
German pension fund reviews equities
[15:15 CEST 22-08] GERMANY – A German corporate pension fund is looking to hire asset managers to look after two US and Japanese equity mandates, using IPE Quest.
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News
Cambridgeshire signs CAAM to equity portfolio
[16:00 CEST 21-08] UK – Cambridgeshire County Council has edged one step closed to completing the reallocation of its pension fund’s equity portfolio and appointed Crédit Agricole Asset Management (CAAM) to manage a £160m European equities mandate.
