All articles by Julie Henderson – Page 35
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News
Share losses explode TNT returns
[16:10 CEST 15-04] NETHERLANDS – TNT, the pension fund for postal workers, saw its assets reduce by over €100m in the first quarter of this year, driven largely by negative returns in the equities market.
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News
Proposed ASB rules to widen pensions valuations
[12:20 CEST 15-04] UK – Proposed changes by the Accounting Standards Board to pension fund accounting create a discrepancy between the economic valuation of FTSE 100 schemes and those applied under accounting rules worth over £145bn (€181bn), according to figures presented by pensions consultancy firm Redington Partners.
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NewsPwC predicts “bad behaviour” in tough markets
[16:45 CEST 14-04] GLOBAL – PricewaterhouseCoopers is predicting there could be a higher number of shareholder litigation filed against companies over the coming year as officials suggest tough financial conditions could lead to “bad behaviour”.
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NewsShell class action set for November hearing
[16:45 CEST 11-04] NETHERLANDS – European pension funds look set to receive a slightly higher settlement in the Shell class action than previously stated, if the deal is approved by the Amsterdam Court of Appeals in November.
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IMF says global recession now possible
[16:55 CEST 09-04] GLOBAL – The US economy is likely to dip into “mild recession” and there is now a one in four chance of a global recession in 2008 and 2009, according to a International Monetary Fund.
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News
East Sussex reviews equity mandates
[17:00 CEST 04-04] UK – East Sussex County Council is seeking managers for two mandates related to its equity allocations.
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News
CEIOPS raises concerns over IORP interpretations
[16:50 CEST 04-04] EUROPE – The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has called on the European Commission's Occupational Pensions Committee (OCP) to provide greater clarity on certain definitions of rules for implementing Institutions of Occupational Retirement Provision (IORPs).
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News
Insolvent pension funds face increased pressure
[16:30 CEST 04-04] IRELAND – Technically insolvent Irish pension funds may have to go back to their stakeholder and negotiate fresh targets for meeting funding requirements, as an increasing number of schemes have hit solvency problems on the back of market turbulence.
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News
Irish managed pensions drop 15% in 12 months
[16:00 CEST 04-04] IRELAND – Irish group pension managed fund returns have now lost 14.8% of their value over the last 12 months, and Oppenheim Investment Managers was the only managed fund to beat inflation over the past 10 years, the latest figures reveal.
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News
SWIP restructures European team
[16:55 CET 03-04] EUROPE - Scottish Widows Investment Partnership (SWIP) has cut the size of its European sales team from 10 to seven people, as part of a restructuring and review of its continental business.
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News
First cross-border scheme set for launch
[16:45 CEST 03-04] GLOBAL – The global cross-border pension scheme will begin operating from September 1 this year, to give employees of a US multi-national access to pension benefits through a single plan arrangement.
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News
State Street and Hewitt retain pension contracts
[16:00 CEST 03-04] UK - State Street Corporation has been retained as custodian to BP’s £14bn (€17.87bn) UK pension fund while Hewitt has been asked to extend its contract with the UK civil service pension fund.
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News
Royal Mail faces fresh 'pensions' strike threat
[17:05 CEST 02-04] UK – Union officials at the Communication Workers Union (CWU) say fresh industrial action could be taken unless Royal Mail goes back to the discussions tables about changes to its pension schemes.
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News
FTSE 100 pension surpluses hit £40bn
[16:45 CEST 02-04] UK – Pension funds provided by the top 100 UK-listed companies had a combined surplus of £40bn (€55bn) at the end of March, according to figures from Watson Wyatt.
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News
UK adults cut pensions contributions by half
[16:05 CEST 02-04] UK – Voluntary pensions contributions by UK residents have almost halved in the past 12 months, leaving investors unlikely to meet their retirment income aims, suggests research conducted by life assurer Prudential.
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News
Newton picks up Northants overseas win
[15:45 CEST 02-04] UK - Northamptonshire County Council has signed Newton Investment Management to handle the £200m overseas equity mandate on behalf of the £1.1bn (€1.6bn) pension fund.
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News
Gov’t bodies to follow NAPF review of Myners
[17:00 CEST 01-04] UK – The UK government has launched a review of the corporate governance principles applied to UK pension funds and trustees, which adds to the guidance review conducted last year by the National Association of Pension Funds (NAPF) concluding trustee standards had improved.
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News
Hermes pushes shareholder role to change board
[16:30 CET 01-04] EUROPE –Hermes Focus Asset Management is attempting to replace the executive board of a Dutch technology chip manufacturer with a completely new team, for failing to achieve promised profitability.
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News
Dax 30 pensions hit 70% funded (amended)
[14:30 CEST 01-04] GERMANY – The average funding level of pension plans at Germany’s top 30 largest companies jumped to 70% in 2007 while segregated pension assets climbed to €150bn, according to a study conducted by Watson Wyatt Heissmann.
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News
Watson’s Urwin hands reins to Hess
[10:30 CEST 31-03] GLOBAL – Roger Urwin is stepping down as global head of investment consulting at Watson Wyatt to take a new role focused on wider investment development and research.
