All articles by Julie Henderson – Page 39
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NewsTurbulence fails to halt positive returns
[16:30 CET 04-01] UK – Japanese equities delivered a negative return for UK pension funds in 2007 schemes returned an average of 6.8% by the end of the year thanks to strong performances in emerging market stocks and index-linked gilts.
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Legal risk at SSGA sparks CEO departure
[17:00 CET 03-01] GLOBAL – William Hunt has stepped down as president and chief executive of State Street Global Advisors (SSGA) on the back of fixed income-related underperformance and a potential legal threat from investors.
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Surpluses predicted to stay, despite volatility
[16:30 CET 03-01] UK – Almost one-half of UK’s 200-largest defined benefit pension schemes are now in surplus on the back of improved performance in 2007, but evidence of widened volatility during that period will bring greater use of risk management tools in 2008, according to Aon Consulting.
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Legal claims rise as subprime action looms
[15:00 CET 03-01] GLOBAL – The number of cases filed and assets claimed through securities class actions climbed again in 2007, despite evidence just 18 months ago suggesting interest in case pursuance was slowing.
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E&Y to assess Norway fund’s assets tax
[12:15 CET 03-01] NORWAY – Norges Bank, the banking group responsible for managing Norway’s giant pension funds, has appointed Ernst & Young to tax advice related to global pensions assets.
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Consultants sought on Norwegian reform
NORWAY – The Norwegian government is entering the next stage of its pension reform plans by tendering for actuarial consultancy services.
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'Rebalancing' nations will prevent global recession - Principal
[11:00 CET 21-12] GLOBAL – Though a global recession is unlikely, developed nations may experience a rebalancing of financial power, a US economist has suggested.
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Palmer wins IPE/AIMSE scholarship
[16:30 CET 20-12] EUROPE – Helen Palmer, assistant vice president at RCM in London is the proud recipient of this year’s Investment & Pensions Europe (IPE) scholarship for AIMSE/Wharton Investment Institute 2008.
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PBU targets Suzuki and Siemens on Burmese action
[15:45 CET 17-12] DENMARK - Pædagogernes Pensionskasse (PBU), the Danish pension fund for education practitioners, is engaging with five companies operating in Burma about its concerns over ethical matters.
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Cyprus to toughen pensions terms
[16:45 CET 14-12] REPUBLIC OF CYPRUS – Greek Cypriots are likely to have to pay higher social security contributions and face tougher claims terms at retirement, under proposals for reform of the Greek Cypriot pensions system.
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Teesside seeks Northern custody support
[13:30 CET 14-12] UK – Middlesbrough Borough Council has reappointed Northern Trust as custodian on behalf of the £2.2bn (€3bn) Teesside pension fund.
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Enfield mulls real estate update
[16:15 CET 13-12] UK – Concerns about the performance of the UK and European property markets mean the London Borough of Enfield is now looking closely at whether to further diversify its pension fund’s real estate allocation.
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Pearl to share Axial lessons with RAM
[15:30 CET 13-12] UK – Axial Investment Management looks set to share its asset liability investment skills with Resolution Asset Management for the benefit of the institutional market, once the two firms are merged by their parent Pearl Group.
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Fitch says credit crunch suffered under 'reactive' systems
[16:30 CET 12-12] GLOBAL – Ratings agency Fitch has suggested investment houses with outdated risk management processes saw the worst of recent volatility and pricing uncertainty in the credit markets.
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NBIM names Kjaer’s successor
[14:20 CET 12-12] NORWAY - Norges Bank’s executive board has appointed Yngve Slyngstad to succeed Knut N. Kjær as executive director of Norges Bank Investment Management.
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DG queries 'acting in concert' perception
[17:00 CET 11-12] EUROPE – Members States may be forced to rethink the recent introduction of 'acting in concert' corporate governance rules as European Commissioner Charley McCreevy has suggested some governments could be seen to hamper "legitimate" shareholder "collaboration".
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Correlated assets drag pensions back into deficit
[16:45 ET 11-12] UK – Defined benefit pensions schemes fell back into deficit in November, according to the UK’s Pension Protection Fund, as the correlation in bond and equity yields falling reduced the value of pensions by £58bn (€81bn) within a single month.
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AP4 signs first of new Asian mandates
[15:00 CET 11-12] SWEDEN – Fjärde AP-fonden, the fourth Swedish buffer fund, has mandated BlackRock to manage a Pacific equities index portfolio, as part of a wider plan for its Pacific-based stocks.
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BLBG group targets sub-prime actions
[16:45 CET 10-12] GLOBAL – New York-based law firm Bernstein, Litowitz, Berger & Grossman (BLBG) has launched a separate division within its practice to deal with potential litigation against firms involved in the sub-prime crisis.
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Real estate sought through IPE-Quest mandate
[16:00 CET 10-12] SWITZERLAND – A search has been launched for an investment manager to look after a €10m European real estate mandate, using IPE Quest.
