All articles by Nyree Stewart – Page 73
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News
Tate & Lyle considers "de-risk" to DB scheme
[15:40 CEST 27-05] UK – Sugar manufacturer Tate & Lyle has refused to confirm it is looking to buyout its £869m (€1.1bn) defined benefit (DB) pension scheme.
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Scot Wids may face £1bn 'negligent' advice claims
[16:20 CEST 27-05] UK – Scottish Widows could face a "type of class action" legal battle over claims it provided 'negligent' advice to around 100 final salary schemes recommending they switch from a deferred annuity guaranteed contract to the Scottish Widows' Pensions managed fund.
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Ireland seeks help for public sector review
[16:10 CEST 27-05] IRELAND – The Irish Office of the Comptroller and Auditor General (C&AG) is seeking a provider of actuarial services to assist on a review of public service pensions.
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Stronger longevity assumptions cost UK £40bn
[15:45 CEST 27-05] UK – Stronger longevity assumptions included in financial reporting, particularly by financial services companies, has increased pension costs by £40bn (€50bn) over the last three years, KPMG has revealed.
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Finland to merge supervisory authorities
[16:05 CEST 23-05] FINLAND - The Finnish government has submitted a legislative proposal to merge the country's Financial Supervisory Authority (FIN-FSA) with the Insurance Supervisory Authority.
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FTSE 100 contributes £5.4bn to deficits
[15:00 CEST 23-05] UK - FTSE 100 companies contributed an extra £5.4bn (€6.8bn) of funding towards reducing pension deficits over the last financial year, according to research from Pension Capital Strategies (PCS).
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News
Norway gov't pension fund drops €9.2bn in Q1
[14:00 CEST 23-05] NORWAY – Negative investment returns and a strong domestic currency reduced the market value of the Government Pension Fund – Global by NOK72.8bn (€9.2bn) to NOK 1.946trn during the first quarter of 2008.
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News
C&W looks to partial buyout for de-risking
[13:00 CEST 23-05] UK – Cable & Wireless has confirmed it is looking at further options for the "de-risking" of its UK defined benefit (DB) scheme, including a partial, rather than full, buyout.
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News
PIC launches DB longevity insurance
[12:45 CEST 23-05] UK – Pension Corporation has launched longevity insurance for defined benefit (DB) schemes, which will last until the last pensioner or their dependent is deceased and could improve future buyout costs.
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LPFA to adopt ESG manager screening
[15:45 CEST 22-05] UK – The London Pension Fund Authority (LPFA) is considering screening potential investment managers against environmental, social and governance (ESG) criteria, and expects to appoint a Responsible Investment manager to be in place by September.
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EU investors miss out on €2.4bn in legal settlements
[12:00 CEST 22-05] EUROPE – Non-US investors failed to claim around $3.7bn (€2.4bn) of monies resulting from securities fraud legal actions in the last four years, according to DRRT.
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Merseyside seeks UK 130/30 managers
[16:55 CEST 21-05] UK – Wirral Borough Council is seeking managers to run up to five unconstrained UK equity portfolios, including 130/30 funds, for the £4.3bn (€5.36bn) Merseyside Pension Fund.
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LGPI allocates $75m to Asian property
[16:50 CEST 21-05] FINLAND – The Finnish Local Government Pensions Institution (LGPI) has invested $75m (€48m) into an Asian real estate fund of funds managed by Aberdeen Property Investors (API).
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News
France Télécom unfazed by EU pension probe
[16:45 CEST 21-05] FRANCE – France Télécom has dismissed concerns that a formal inquiry by the European Commission on the financing of pensions for state employees will have an impact on its financial statements.
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AP3 mulls reinsurance and liquidity
[16:25 CEST 21-05] SWEDEN – Tredje AP-fonden (AP3), the third Swedish National Pension Fund, is looking at diversifying into newer asset classes including re-insurance and liquidity, its chief investment officer has revealed.
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8 out of 10 managers fail to add value
[15:00 CEST 20-05] NORDIC/EUROPE - Asset managers working for pension funds do not “add value” to propositions around 80% of the time, according to Watson Wyatt.
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News
"Pure alpha" is worth paying for - AP2
[13:30 CEST 20-05] NORDIC/EUROPE - Pension funds should be willing to pay more for "pure alpha" but should stay away from private equity unless they have the necessary expertise on due diligence, AP2 officials have warned.
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News
AP7 switches to hedge fund replication
[12:45 CEST 19-05] SWEDEN - AP7, one of the default funds in the Swedish Premium Pension Authority (PPM), has confirmed it is switching from fund of hedge funds to hedge fund replication strategies in the next quarter.
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NewsLGPS income rises by £3bn
[12:15 CEST 19-05] UK – The Local Government Pension Scheme (LGPS) in England received £3bn (€3.8bn) in income on investments in 2006/07 - an increase of 14% on the previous year.
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Traffic-light model reveals pension buffer
[16:35 CEST 16-05] SWEDEN – Swedish pension funds can withstand "further fluctuations" in the financial markets, according to the latest update from the Finansinpektionen's (FI) 'traffic-light' model.
