All articles by Nyree Stewart – Page 23
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News
UK mandate roundup: Bucks appoints global eq managers
[16:30 CEST 14-10] UK – Buckinghamshire County Council has appointed three new global equity managers for its £1.07bn (€1.14bn) pension fund, completing the search for investment managers announced in July 2008.
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AP6 gets caught in anti-competitiveness row
[12:00 CEST 13-10] SWEDEN – A row has erupted between two Swedish bicycle firms, including one wholly-owned by Sjätte AP-fonden (AP6), the sixth Swedish national pension fund, over allegations of anti-competitive behaviour.
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Bucks appoints RLAM for bonds as Devon seeks actuary
[17:00 CEST 13-10] UK – The £1.07bn (€1.14bn) Buckinghamshire County Council Pension Fund has appointed Royal London Asset Management (RLAM) to run a fixed income mandate.
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ITV plans to use subsidiary as contingent asset
[16:45 CEST 13-10] UK – ITV, the UK commercial television station, has revealed it is in discussions with the trustees of its £2.15bn (€2.29bn) defined benefit (DB) scheme to use the assets of its wholly owned subsidiary SDN Limited to help plug the growing pension deficit.
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UK DB funding roundup: deficits reduced in September
[16:15 CEST 13-10] UK – Increases in asset values and higher gilt yields improved the aggregate funding position of UK defined benefit (DB) schemes by almost £25bn (€26.7bn) to leave deficits at £148.9bn at the end of September, according to the Pension Protection Fund (PPF).
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Aer Lingus eyes DC scheme to avoid major balance sheet damage
[16:55 CEST 10-12] IRELAND – Aer Lingus is proposing to introduce a new defined contribution scheme for all staff in an attempt to avoid having to change its accounting practices to defined benefit (DB) rules that would add "significant" liabilities to its balance sheet.
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News
Merseyside keeps L&G and Schroders for fixed income
[16:50 CEST 12-10] UK – The £4.1bn (€4.4bn) Merseyside pension fund has retained its two fixed income managers to run a portfolio valued at around £372m, or 9% of the scheme's assets.
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LAPFF re-tenders engagement contract
[16:50 CEST 12-10] UK – The Local Authority Pension Fund Forum (LAPFF) is seeking a third-party provider to promote and assist the LAPFF's shareholder activism.
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News
Essex appoints Fidelity for global equities
[17:10 CEST 09-10] UK – The £2.2bn (€2.37bn) Essex Pension Fund has appointed Fidelity International as an active global equity manager.
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Tax changes to Icelandic pensions could be 'hazardous'
[17:05 CEST 09-10] ICELAND – Proposals by the opposition political party, the Independence Party, to alter the taxation of pension fund savings has been described as "hazardous" by both the Icelandic Pension Funds Association (IPFA) and the Confederation of Icelandic Employers (SA).
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News
SFE tenders for pension provider but mulls own fund
[17:00 CEST 09-10] NORWAY – Sogn og Fjordane Energi AS (SFE), the Norwegian energy company, is re-tendering for a pension provider for its defined benefit (DB) occupational scheme, but is considering the possibility of joining with other energy companies to establish their own pension investment fund.
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News
Romania aims for pension reforms by December
ROMANIA – Draft pension reform laws, including increases in retirement age and elimination of 'special' pensions of certain public sector workers, has been published by the Romanian government with the aim of implementing it by the end of December to comply with agreements with the International Monetary Fund (IMF).
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News
NBIM raises concerns over VW Porsche deal
[17:05 CEST 08-10] NORWAY – Norges Bank Investment Management (NBIM) has warned it will not support Volkswagen's investment in Porsche unless the VW Supervisory Board "takes steps to alleviate our concerns" relating to conflicts of interest and shareholder treatment.
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News
Kenny targets 'unacceptable' directors with MoU
[15:30 CEST 08-10] IRELAND – Paul Kenny, the Pensions Ombudsman has signed a Memorandum of Understanding with the Office of the Director of Corporate Enforcement (ODCE) to allow him to pass on details of “unacceptable behaviour by company directors” - a move bringing closer cooperation against rogue employers.
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NewsCommission on Retirement must halt pension delays - IAPF
[15:00 CEST 08-10] IRELAND – The Irish Association of Pension Funds has called on the government to establish a Commission on Retirement to update the assumptions underlying Ireland's two-year old Green Paper on Pensions, following the recent changes in the economic environment.
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NewsUK 2012 regulations may restrict employer innovation
[17:15 CEST 07-10] UK – Employers want a wider range of pension and savings products that meet the changing priorities and immediate needs of their employees, but the upcoming 2012 regulations may be restricting innovation, according to research from BlackRock.
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News
TPR appoints Deloitte for review of UK's DC regulations
[16:47 CEST 07-10] UK – The Pensions Regulator (TPR) has appointed Deloitte to conduct a review of the existing defined contribution (DC) regulatory framework and make recommendations for a new "robust" framework ahead of the 2012 reforms.
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NewsWednesday people roundup
[15:00 CEST 07-10] GLOBAL – Pension Protection Fund, Nordea, Aberdeen Asset Management, Hollinger Asset Management AG, Old Broad Street Research, Aviva Investors, Russell Investments, Threadneedle, HM Treasury.
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NewsUK Conservatives plan to speed up pension age increase
[17:15 CEST 06-10] UK – The Conservative Party has confirmed it will reinstate the earnings link for the basic state pension in the next Parliament if they are elected, but warned it would be funded by a faster increase in the state pension age (SPA).
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News
Tesco continues property deals with pension funds
[17:05 CEST 06-10] UK – Tesco has formed a fourth joint venture with a UK pension fund to sell and leaseback property assets in an effort to release value from its property portfolio.
