All articles by Nyree Stewart – Page 19
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News
Personal accounts get support for alternative assets
[16:25 CET 25-11] UK – The Personal Accounts Delivery Authority (PADA) has revealed that around 80% of pensions social partners support the use of alternative assets in the investment strategy of personal accounts, with property and commodities considered the most appropriate diversifiers.
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UK roundup - Essex, Strathclyde, Equitable Life and Telent
[16:00 CET 25-11] UK – Essex County Council is re-tendering the contract for investment consultants to its pension fund, while Strathclyde is tendering three property mandates.
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TPR targets trustees with governance campaign
[16:55 CET 24-11] UK – The Pensions Regulator (TPR) has signalled it will increased focus on good governance and administration in the run-up to 2012 with the launch of a new campaign targeted at trustees.
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Norway should resume full payment to Global Fund - IMF
[16:45 CET 24-11] NORWAY - The IMF has warned the Norwegian government that it should resume full payment of oil revenues to the Government Pension Fund - Global by reducing the country's non-oil budget deficit to 4% of the Global Fund's value, and within the three remaining years of its ...
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Icelandic Investment Fund delayed
[15:50 CET 24-11] ICELAND – The establishment of the Icelandic Investment Fund (IIF) has been delayed until next month to give pension funds more time to decide whether or not to join the venture.
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Pension funds to up focus on 'creeping' climate change
[16:45 CET 23-11] EUROPE – A group of UK-based institutional investors, including the Universities Superannuation Scheme (USS), has urged investors to engage with companies and policymakers on the issue of climate change adaptation, and to incorporate the related risks into their analysis and decision-making.
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Weekly pension updates 'relax trustees' - BP
[16:15 CET 23-11] UK – Providing trustee boards with weekly updates on the financial position of the fund does not encourage investment short-termism but instead makes them more "relaxed" to market volatility, according to the chief executive of BP Trustees Limited.
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ASB maintains support for risk free discount rate
[16:45 CET 20-11] UK – The Accounting Standards Board (ASB) has reiterated its view that pension fund accounting should use ‘risk free’ discount rates, as evidence suggests the UK AA corporate bond rate reduced the level of reported liabilities making schemes appear stronger than they were.
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Ireland to target cross-border pensions - Cowen
[16:00 CET 20-11] IRELAND – Brian Cowen, the Irish Taoiseach (prime minister) says his country will maintain its position as a 'centre of excellence' in the management of European pension funds by targeting cross-border pension activity.
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NewsUK trustees need improved investment delegation
[12:30 CET 19-11] UK – Trustees of UK defined benefit (DB) schemes need to enhance their investment decision-making processes, including more efficient delegation, to allow them to focus on key issues such as funding, strategy and risk, according to research from Russell Investments.
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NewsNPRF's Corrigan named head of NTMA
[12:00 CET 19-11] IRELAND - John Corrigan, director of the €20.9bn National Pensions Reserve Fund (NPRF), has been appointed as the new chief executive of the National Treasury Management Agency (NTMA).
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Ireland to 'bring home' the cost of pensions
[16:30 CET 18-11] IRELAND - Brian Lenihan, the Irish minister of finance, has warned the rising cost of public sector pensions needs to be "brought home to people".
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NewsC&W to split UK scheme as part of demerger
[14:00 CET 18-11] UK – Cable & Wireless has confirmed its UK defined benefit (DB) pension scheme will be split in half as part of the demerger of its worldwide arm.
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News
Pensions focus 'must shift to liability benchmarking'
[13:30 CET 18-11] NETHERLANDS – One impact of the credit crisis on pension funds is the growing importance of risk management and a focus on moving towards using scheme liabilities as the ultimate benchmark, according to Jan Willem van Stuijvenberg.
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NewsUK roundup: Celestica, North Yorks and ICAEW
[14:30 CET 17-11] UK – Celestica's UK scheme has adopted an implemented consulting strategy, while the £1.2bn (€1.34bn) North Yorkshire pension fund is seeking investment advisers and consultants, and the Institute of Chartered Accountants for England and Wales (ICAEW) is in consultation to shut it defined benefit (DB) scheme to ...
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NewsUnilever's Docherty predicts trustee behaviour change
[14:00 CET 17-11] UK – The recent economic downturn is likely to have led to a change in trustees' behaviour with regards to pension investment strategy and a greater balance between risk and reward, according to Unilever pension fund's Angela Docherty.
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NewsPension funds 'should rethink allocation strategy as a priority'
[13:30 CET 17-11] UK – The economic downturn has caused pension trustees to gain a “full appreciation of the risks out there”, and led to a renewed focus on planning for the time when markets recover and forced pensions officials to rethink allocation strategy, claim consultants.
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NewsKnowledge rules drive growth of professional trustees
[13:00 CET 17-11] NETHERLANDS – An increasing focus on education and knowledge for trustees in the Netherlands is beginning to result in the growing use of professional trustees to take on the governance responsibility in smaller pension schemes.
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Norway Global seeks further screening service
[17:00 CET 16-11] NORWAY – The Norwegian ministry of finance is seeking an ethical screening service for the Norwegian Government Pension Fund – Global to assess possible breaches of its guidelines concerning the manufacture of tobacco, anti-humanitarian weapons and military supplies to Burma.
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Pension deficits underestimated by European firms
[16:55 CET 16-11] EUROPE – Over 30 major European firms have underestimated their pension obligations by more than 40%, according to research from AlphaValue.
