All articles by Nyree Stewart – Page 64
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News
PPF's CEO to step down
[13:15 CEST 28-08] UK – Partha Dasgupta, chief executive of the UK's Pension Protection Fund (PPF) has announced he will step down from the role in June 2009 in search of fresh challenges.
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NPRF awards €600m emerging market mandate
[14:00 CEST 28-08] IRELAND – The National Treasury Management Agency (NTMA) has appointed three managers to run emerging market mandates for the National Pension Reserve Fund (NPRF).
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Henderson CEO quits as firm moves to Ireland
[12:45 CEST 28-08] UK – Roger Yates is stepping down as chief executive of Henderson Group and managing director of Henderson in November, after nine years in charge.
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Icelandic pension assets hit €14bn
[17:10 CEST 27-08] ICELAND – The total value of Icelandic pension assets rose by 7% in real terms to ISK1.7trn (€14bn) in 2007, the Financial Supervisory Authority (FME) has revealed.
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Norway SWF may 'earmark' funds for clean energy
[17:05 CEST 27-08] NORWAY – The Norwegian government has hinted the country's sovereign wealth fund (SWF) could divert assets into a separate fund to invest in clean energy and environmental funds.
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Finnish state fund drops 6.4%
[16:10 CEST 27-08] FINLAND - Valtion Eläkerahasto (VER), the Finnish state pension fund, posted a first half return of -6.4%, driven by a 17% loss on equity investments while Etera Mutual Pension Insurance Company lost €460m.
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Norway Global loses €4.9bn in Q2
[16:55 CEST 26-08] NORWAY – The Norwegian Government Pension Fund – Global reported a return on investments of -1.9% in the second quarter of 2008, reducing the value of the fund by NOK39bn (€4.9bn).
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Norfolk awards active currency mandates
[16:45 CEST 26-08] UK – Norfolk County Council has awarded active currency mandates to Goldman Sachs Asset Management and Auriel Capital Management.
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'Restrictive' market causes drop in open DB schemes
[16:40 CEST 26-08] UK – Tighter regulation, increased longevity and volatile market conditions have collectively reduced the number of open defined benefit (DB) schemes from almost a third in 2007 to 17%, Aon Consulting has claimed.
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Romanian regulator warns BT Aegon over pensions marketing
ROMANIA – The Comisia de Supraveghere a Sistemului de Pensii Private (CSSPP), the regulator for private pensions, has issued a written warning to the BT Aegon Fond de Pensii S.A for failing to inform the regulator about the "illegal actions of their sales force".
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Veritas solvency strong despite 4% fall
[16:45 CEST 22-08] FINLAND - Veritas Mutual Pension insurance company retained a strong solvency ratio in the first half of the year at twice the minimum required limit, despite reporting negative investment returns of -4%.
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Finnish local government fund assets drop 3%
[16:40 CEST 22-08] FINLAND – Kuntien Eläkevakuutus (Keva), the Finnish Local Government Pensions Institution, has reported a negative return of -7.5% on investments for the first half of 2008, as assets fell to €22.9bn.
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Swedish buffer fund loses €2.2bn in H1
[16:25 CEST 22-08] SWEDEN – Andra AP Fonden, the second Swedish national pension fund buffer (AP2), lost SEK20.3bn (€2.2bn) in the first half of 2008, following recent volatility in global markets.
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Rentokil runs counter to Menzies and Persimmon deficits
[16:20 CEST 22-08] UK – The £232m (€293m) John Menzies defined benefit (DB) scheme has moved from having a fully-funded surplus to being in deficit in the first half of 2008, alongside housebuilder Persimmon's extending gap, but the Rentokil pension fund has bucked the trend by using its escrow account.
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Court issues €5,000 fine for obstructing pension ombudsman
[16:50 CEST 21-08] IRELAND – The director of an Irish building firm is the first person to be fined €5,000 and costs by a criminal court for obstructing an investigation by the Pensions Ombudsman.
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News
Eläke-Fennia reports first half fall
[13:30 CEST 21-08] FINLAND – The €5.8bn Eläke-Fennia Mutual Insurance Company saw the value of its investments reduce by €285.2m in the first half of 2008 as it reported a net negative investment return of -4.6%.
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Norway warned to show 'fiscal restraint' over oil fund
[17:10 CEST 20-08] NORWAY – Norway has been warned to exercise "some kind of fiscal restraint" in the short-term use of oil revenues if it is to limit rising inflation and reduce the predicted "financing gap" caused by increased pensions and an ageing population.
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BBC's DB scheme to increase alternatives
[16:50 CEST 20-08] UK – Trustees of the £8.1bn (€10.2bn) BBC Pension Scheme have revealed they are looking at increasing commitments to alternative assets, following new allocations into debt, currency and private equity funds in 2007.
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NILGOSC adopts unconstrained equity mandates
[16:50 CEST 19-08] UK – The Northern Ireland Local Government Officers Superannuation Committee (NILGOSC) has awarded four new unconstrained equity mandates, which includes the appointment of two new managers.
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Ilmarinen loses €1.7bn in H1
[16:45 CEST 19-08] FINLAND – The €25.7bn Ilmarinen Mutual Insurance Pension Company reported a negative return on investments of -4.9% in the first half of 2008.
