All articles by Julie Henderson – Page 38
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MEP supports need for ‘pillar model’
[15:30 CET 25-01] EUROPE – A minister of the European Parliament has backed fresh calls for the creation of a pensions pillar ‘model’ which could help to support the development of Europe-wide pensions legislation.
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Rogue trader loses SocGen €4.9bn
[12:00 CET 24-01] FRANCE – French investment giant Société Générale has today admitted it needs to raise €5.5bn in new capital through share issuance after discovering a rogue trader in its hedging operations.
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EC seeks pensions innovations, with guarantees (amended)
[16:00 CET 23-01] EUROPE – Officials at the European Commission and European Parliament have called for the development of innovations and new ideas in pensions delivery which could provide some level of guarantee to retirement incomes but which do not restrict investments to the fixed income market.
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Market losses drag pensions "back to 2007"
[16:25 CET 22-01] EUROPE – Moves to maintain pensions assets in turbulent investment markets compared with other recent decisions by pension funds are sending confusing messages about pensions funding needs, suggest European asset managers and pensions consultants.
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SNS plans Swiss Life Belgium sale
[16:00 CET 21-01] NETHERLANDS - Even before the acquisition of Swiss Life Belgium has been completed, new owner SNS Reaal has agreed to sell the company to Delta Lloyd Group.
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Merrill Lynch aid spotlights sovereign funds
[16:00 CET 16-01] GLOBAL – Investment giant Merrill Lynch is the latest firm to have turned to sovereign wealth funds (SWFs) for financial support and has signed a deal with seven financial institutions in total to sell convertible preference shares worth $6.6bn (€5bn).
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Pension funds explore climate change pressures
[16:30 CET 15-01] EUROPE – A group of four UK-based pensions institutions has launched a project which it hopes will help create a framework for assessing the risks and opportunities of investment in relation to climate change.
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DNB questions pensions focus on market timing
[16:00 CET 15-01] NETHERLANDS - Dutch pension fund managers are unable to predict market movements, and should therefore focus on the best strategic asset allocation and rebalancing, a DNB study suggests.
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Berkshire withdraws Asia-Pacific search
[16:00 CET 15-01] UK – The Royal County of Berkshire pension fund has pulled plans to appoint an Asia-Pacific investment manager.
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State-owned firm to close DB scheme
[17:00 CET 11-01] IRELAND – Members of pension schemes at Irish renewable energy and turf provider Bord na Móna will be asked to approve changes within the next few weeks which could see the two schemes merged and then closed to new members.
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Norwegian fund drops bomb investments
[16:40 CET 11-01] NORWAY – The Norwegian Government Pension Fund – global has withdrawn its investment in three firms producing cluster and nuclear bombs, but decided to continue keep its equity holding in German firm Rheinmetall.
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Quest to find EM and Asian equities
[12:45 CET 11-01] DENMARK – Investment consultancy Kirstein Finans has put out a call on behalf of two Danish pension funds, using IPE-Quest, for equity managers interesting in managing emerging markets and Asia-Pacific mandates.
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New recruitment routes sought in pensions arena
[17:05 CET 10-01] UK – Pension funds and related support services are being to forced step up their efforts in the search for new recruits, as increasing competition and new entrants in the market are reducing the number of suitable candidates.
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Czech pushes for equal retirement age
[16:30 CET 10-01] CZECH REPUBLIC – The government of the Czech Republic is planning to unveil pension reforms in a draft bill requiring people to work longer for their pensions and which it hopes will raise the State retirement age to 65 by 2030.
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MPs’ pension present risk to taxpayers - study
[16:50 CET 09-01] UK – The taxpayers’ true bill for UK members of parliament’s pensions is at least two and a half times higher than the cost currently quoted by official government papers, according to a new analysis.
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Equities bring Irish fund losses to €4bn
[16:45 CET 08-01] IRELAND – Irish pension funds are thought to have lost in the region of €4bn in 2007, driven largely by exposure to local equities, according to consulting firm Mercer.
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Fund houses fear credit turmoil into Q2
[16:30 CET 08-01] GLOBAL – Fixed-income managers are warning credit markets will continue to be volatile at least until the second quarter of this year as there is still concern about liquidity, suggests a study conducted by Standard & Poor’s.
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Aberdeen emerges as Lothian winner
[16:40 CET 07-01] UK – Lloyd George Management has lost the right to manage the Lothian Pension fund’s emerging markets equity mandate, worth around £160m (€214.4m), to the benefit of Aberdeen Asset Management.
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Hain warns of UK pensions “nightmare”
[16:30 CET 07-01] UK – Peter Hain, the UK minister for work and pensions, has warned individuals have to take responsibility for their own pensions futures of face a “nightmare” pension crisis in years to come.
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IPE to bring you IPNederland
[14:00 CET 07-01] NETHERLANDS - Investment & Pensions Europe is adding a new publication to its investment and pensions stable, known as IPNederland - a standalone Dutch-language publication covering the pensions and institutional investment arena in The Netherlands.