All articles by Nyree Stewart – Page 26
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Northumberland scheme improves by £30m in Q2
[17:30 CEST 14-09] UK – The value of the Northumberland County Council pension fund increased by more than £30m (€34.1m) in the second quarter.
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TPR seeks expert advice to help investigations
[17:10 CEST 14-09] UK – The Pensions Regulator (TPR) is offering six contracts for expert services including actuarial and risk management advice, to aid in its investigations of serious governance, investment or funding issues.
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Dutch pension fund investments rose by 4.5% in Q2
NETHERLANDS – The investment portfolios of Dutch pension funds increased in value by 4.5% (€25bn) in the second quarter, according to latest figures from De Nederlandsche Bank (DNB).
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Irish public sector pensions hit €108bn
[17:00 CEST 11-09] IRELAND – The accrued present value of public sector pension liabilities was estimated at €108bn at the end of December 2008, according to figures from the Comptroller and Auditor General (C&AG).
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Strathclyde completes strategy review
[16:55 CEST 11-09] UK – The £8.39bn (€9.6bn) Strathclyde pension fund is considering the creation of a "new opportunities" portfolio following the conclusion of the triennial review of its investment strategy and structure.
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Swedish AP funds join sustainability initiative
[15:45 CEST 11-09] SWEDEN/NORWAY – The four Swedish AP pension buffer funds are among 13 institutional investors that have signed up to the Sustainable Value Creation Initiative (SVC) to encourage companies to adopt good governance of sustainability issues.
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Finland imposes DC pensions on state company executives
[16:50 CEST 10-09] FINLAND – The government has agreed new guidelines for the remuneration of executives in state-owned companies including a requirement that new pension schemes should be established on a defined contribution (DC) basis.
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Belgian pensions return 4.2% in H1
BELGIUM – Belgian pension funds produced an average weighted return of 4.21% in the first six months of 2009, figures from the Belgian Association of Pension Institutions (BVPI) have revealed.
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Latvia plans pension changes from 2011
LATVIA – The Latvian government has revealed new pension reforms are being planned to come into effect from January 2011 in an attempt to further reduce the budget deficit.
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Global downturn knocked 21% off London fund
[17:10 CEST 09-09] UK – The London Pensions Fund Authority (LPFA) scheme dropped £551m (€625.9m) in the year to 31 March 2009 to reach £3.02bn, as the global economic downturn caused the asset values of its investment portfolios to plummet.
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UK DB schemes target 83% buyout funding level
[16:45 CEST 09-09] UK – The average target funding level for defined benefit (DB) schemes has increased from 69% to 83% of funds required for a buyout, according to latest research from Mercer.
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AIFM directive would restrict global investments - IMA
[17:45 CEST 08-09] EUROPE – The UK's IMA has sharpened the debate on the EU's Alternative Investment Fund Managers (AIFM) draft directive and has called for institutional investors to participate in lobbying activity.
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Pensions Board prosecutes firm over funding certificate
[17:15 CEST 08-09] IRELAND - The Pensions Board has successfully prosecuted an engineering company for failing to submit an actuarial funding certificate for its pension fund within the required time frame.
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Irish public sector review to feed into pension policy
[17:45 CEST 07-09] IRELAND – A review of public service pensions conducted by the Comptroller and Auditor General, expected to be released by the government shortly, will feed into a range of "possible initiatives" relating to public sector pensions.
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Hampshire targets UK property in next 12 months
[17:30 CEST 07-09] UK – Hampshire County Council is looking to almost double its pension fund's exposure to UK commercial property over the next year to meet the 8% target allocation agreed before the market downturn.
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Ireland proposes reform of pension tax relief
[17:15 CEST 07-09] IRELAND – The Commission on Taxation has recommended the existing arrangement for tax relief on pension contributions should be changed to a system of matching contributions.
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Hammersmith and Whitbread reveal strategic decisions
[15:30 CEST 04-09] UK – The London Borough of Hammersmith & Fulham has decided against adopting a currency hedge strategy for its £438.5m (€503.4m) pension fund, but will keep the option under review.
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Avon tweaks bond strategy
[15:15 CEST 04-09] UK – Avon Pension Fund has decided to increase its allocation to corporate bonds through a reduction in its investments in gilts.
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Norway-Global excludes Israeli defence firm
[16:55 CESt 03-09] NORWAY – The Government Pension Fund – Global has divested a NOK35.8m (€4.1m) holding in the Israeli company Elbit systems following a recommendation by the Council of Ethics over "violations of international humanitarian law".
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50% of DB schemes need to focus on long-term risk
[16:50 CEST 03-09] UK – Half of all UK defined benefit (DB) pension schemes do not have a long-term strategy for reducing risks, despite 80% acknowledging the need to address de-risking, joint research by Hymans Robertson and PensionChair Network has revealed.
