Returns – Page 136
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NewsProfits over first three quarters soar at Denmark's ATP
DENMARK – ATP has generated a profit of DKK17.4bn (€2.3bn) over the first nine months of this year, overshooting its target for the entire year, with all five asset classing posting positive returns.
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NewsAssets at Nordea's Life & Pensions division surge by 19%
EUROPE – Nordea's Life & Pensions division saw a significant rise in the value of assets under management in the third quarter of this year, which the Nordic and Baltic banking group attributed to asset price growth, as well as net inflows.
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NewsSwiss roundup: Swisscanto, Credit Suisse, Melbourne Mercer
SWITZERLAND – Funding at Swiss Pensionskassen has returned to levels seen at the end of last year, according to a survey by Swisscanto.
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News
SNPF considering alternative recovery measures, appoints chairman
NETHERLANDS – The board of the €1bn pension fund for notaries (SNPF) said it was considering alternative recovery measures to avoid rights cuts after supervisor De Nederlansche Bank (DNB) turned down its suggestions for a tailor-made recovery.
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NewsDutch pension funds return 6.4% in first half
NETHERLANDS – Dutch pension funds returned 6.4% over the first six months of the year, according to State Street Investment Analytics.
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NewsSwedish roundup: Skandia Liv, Handelsbanken Liv, Swedbank, AI Pensions, AP7
SWEDEN – Skandia Liv, the life and pensions insurer, returned 6.7% for the first nine months of the year as a result of its high real estate holdings, which posted returns of 8.9% for the period.
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NewsUniq proposes deficit-for-equity swap with trustees
UK – Food manufacturer Uniq has proposed a deficit-for-equity swap to its pension fund trustees in a deal that would see the fund take control of 90% of company shares.
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NewsLow interest rates cancel out strong returns at largest Dutch schemes
NETHERLANDS – The four largest Dutch pension funds saw their coverage ratios drop during the third quarter – despite strong returns – due to the sharp drop in long-term interest rates.
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NewsUK Pension Protection Fund takes on another 17 schemes
UK – The UK Pension Protection Fund (PPF) has accepted 17 new schemes for compensation in September, including 1,768 individuals who are already are receiving pensions from the safety net.
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NewsUK roundup: Pension Insurance Corporation, BDO Investment Management, EMI, Equitable Life
UK – The risk transfer market was buffeted by underlying asset volatility in the third quarter, according to Pension Insurance Corporation's Q3 2010 Pension Risk Transfer index.
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![Borough of Lambeth terminates contracts with managers [amended]](https://d3ese01zxankcs.cloudfront.net/Pictures/100x67/4/6/8/39468_London+map.jpg)
NewsBorough of Lambeth terminates contracts with managers [amended]
UK – The £720m (€820.5m) London Borough of Lambeth pension scheme is understood to be ending contracts with UBS Global Asset Management, AllianceBernstein and Aberdeen Asset Managers.
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NewsIrish roundup: DB deadline, C&C Group
IRELAND – Defined benefit (DB) schemes submitting a funding proposal to the Pensions Board have been granted an extension beyond the original May deadline, the organisation said.
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NewsUK roundup: pension tax relief, Bexley, BlackRock, Accounting Standards Board
UK – The government has revealed details of the reform to pension tax relief, lowering the threshold to £50,000 – a drop of more than £200,000 – by April 2011.
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NewsReturn for Swiss pension fund index fails to meet required minimum
SWITZERLAND – The Credit Suisse Pensionskassenindex increased by nearly 2.5 points, or just over 2%, in the third quarter, yet the return failed to meet the legally required minimum rate, according to Credit Suisse.
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NewsRoyal Mail pension scheme to shrink to one-tenth of size under government proposals
UK – The UK government has confirmed it would split the Royal Mail Pension Plan (RMPP), reducing it to around one-tenth of its current size, in an effort to tackle the scheme's £8.4bn deficit.
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NewsUK roundup: Camden, CB Richard Ellis, Partners Group, Towers Watson, PPF
UK – The London Borough of Camden's pension fund has appointed two real estate managers for a mandate worth as much as £70m.
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NewsUK roundup: Towers Watson on Hutton, Asda closes scheme
UK – Towers Watson has estimated a £80bn (€91bn) drop in public pension liabilities if suggestions made by Lord Hutton are implemented.
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NewsGerman institutions swapping bonds for real estate
GERMANY – German institutional investors, in their search for stable returns without increasing risk, are turning away from European fixed income to real estate, while faith in external managers and consultants remains low, according to a survey by Greenwich Associates.
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NewsGerman province to top up public fund with €114m
GERMANY – The German province of Northrhine-Westphalia (NRW) is seeking parliamentary support for an additional €114m one-off payment into the pension fund for civil servants.
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NewsIrish roundup: Irish Airlines Superannuation Scheme, Rubicon Investment Consulting
IRELAND – The Irish Airlines (General Employees) Superannuation Scheme – the joint pension scheme for workers at Aer Lingus, Dublin Airport Authority and former employees of SR Technics – may have to be split as part of arrangements to plug the €500m deficit in the scheme.
