All articles by Nyree Stewart – Page 80
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News
LPFA appoints JPMorgan to administer alternative assets
[16:45 CET 13-03] UK – The £3.7bn (€4.8bn) London Pension Fund Authority (LPFA) has appointed JPMorgan to provide portfolio administration and performance reporting for their alternative investment portfolio.
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'Lacking conventions' limits Swedish SRI practice
[16:30 CET 13-03] SWEDEN – The Swedish government’s observer status in international conventions to stop the production of arms such as cluster bombs hinders the AP buffer funds from excluding companies linked to such arms production from their portfolio.
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UK to allow lower pensions commutation
[14:30 CET 13-03] UK – The UK government has announced some "easements" of the rules around trivial commutation to allow occupational pension scheme savings below £2,000 (€2,614) to be taken it a lump sum even if they have another larger pension fund elsewhere.
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Alpha-beta separation is 'future' as trustees alter focus
[14:00 CET 13-03] UK – The pensions industry is on the verge of a “second wave” of liability driven investment strategies, although this time the focus will be separating the alpha and beta elements, Morgan Stanley Investment Management has claimed.
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71% of schemes are not environmentally active
[13:00 CET 13-03] UK – More than 70% of pension schemes do not actively pursue environmental issues, research from eShare has revealed.
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Private equity lifted Etera in 'fluctuating markets'
[16:40 CET 12-03] FINLAND – A 45.8% return on private equity and unquoted equity investments helped Etera Mutual Pension Insurance Company achieve an overall result of €47m in 2007, albeit this is a fall of €91m from the previous year.
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DC landscape 'confusing' and contradictory - Fidelity
[15:15 CET 12-03] UK – The provision of defined contribution (DC) pensions is 'confusing' as decisions are made by 'rule of thumb' or 'received wisdom' leading to contradictions, Fidelity has claimed.
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Alternatives transparency and risk "more important" - PwC
[17:00 CET 11-03] GLOBAL – Institutional investors place more focus on transparency and risk management than the actual performance of a fund when reviewing alternative investment managers, PricewaterhouseCoopers has revealed.
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PPF admits data error as DB deficits rise to £97.5bn
[16:55 CET 11-03] UK – The aggregate funding position of almost 7,800 defined benefit schemes reached a deficit of £97.5bn (€127.6bn) in February, after the Pension Protection Fund (PPF) admitted it had underestimated the deficit for January by almost £20bn.
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Lothian takes the lead and sues Ericsson
[11:00 CET 11-03] UK – The Lothian Pension Fund is taking a lead role in a class action against Swedish mobile phone company Ericsson, as it claimed the company issued "materially false and misleading statements" which caused the pension fund to lose $3.2m (€2.1m).
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One-fifth of pensioners could lose 80% of benefits - PPI
[16:30 CET 10-03] UK – The Pensions Policy Institute (PPI) has called on the UK government to provide more clarity on its goal of improving incentives to save for retirement, as research showed personal accounts could cause 20% of pensioners to lose 80% of means-tested pension benefits.
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News
ICGN urges 'hiding' SWFs to be active investors
[16:00 CET 10-03] GLOBAL – The International Corporate Governance Network (ICGN) has urged sovereign wealth funds (SWFs) to use their voting rights at annual general meetings, and avoid situations where 'bad things happen' because they go unopposed.
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News
Trustees need help with wind-up deadline
[14:50 CET 10-03] UK – A joint consultation statement on the winding-up of pension schemes has been criticised by Hymans Robertson for failing to explain how trustees are expected to complete the process within two years.
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NewsOECD to issue SWF governance guidelines
[14:30 CET 07-03]GLOBAL – The Organisation for Economic Co-operation and Development (OECD) plans to publish a paper in the next few weeks, outlining corporate governance guidelines which can be applied to Sovereign Wealth Funds (SWFs).
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Communication key to 'unique' Nordic governance
[14:00 CET 07-03] NORDIC/SWEDEN – Nordic companies are suffering from other countries' lack of understanding about the Nordic system of corporate governance, experts have claimed.
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News
IASB pulls back from ASB plans
[15:00 CET 06-03] GLOBAL/UK – The chairman of the International Accounting Standards Board (IASB) has hinted changes to the rules on pension accounting will not go as far as the measures suggested by the UK Accounting Standards Board (ASB).
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News
Personal accounts are "disaster waiting to happen"
[13:00 CET 05-03] UK – Automatically enrolling all employees into "tried and tested" products such as stakeholder pensions may be a better solution for extending pension coverage than "untested and inflexible state-controlled personal accounts", a report has revealed.
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Unions urge rejection of Royal Mail deal
[12:00 CET 05-03] UK – Royal Mail could face possible strike action over pension reforms, after unions claimed the results of a consultation were a "sham" and urged members to reject the new proposals.
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TPR given power to impose mortality changes on 'imprudent' schemes
[16:30 CET 04-3] UK – A new clause in the UK's Pensions Bill will allow The Pensions Regulator (TPR) to impose its preferred, stronger mortality assumptions onto schemes and potentially increase liabilities by 9%, Punter Southall has revealed.
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Norway misses pensions benchmark with 4.3% return
[16:20 CET 04-03] NORWAY –The Norwegian Government Pension Fund – Global returned 4.3% in 2007, which is the first time the fund has achieved lower returns than its benchmark portfolio since 1998.
