Europe
Interview: The new boy in Brussels
Michael Bow talks to Matti Leppälä
Solar subsidy cuts to hit liability matching strategies
UK - Government plans to cut a subsidy boosting the appeal of solar panel infrastructure investments could scupper scheme plans to use these investments as part of their liability matching strategies, fund managers say.
IMF chief warns of 'lost decade'
CHINA - The head of the IMF pleaded with China to support the eurozone as she warned the global economy is heading for a "lost decade".
Aegon moves to halt DB scheme future accrual
UK - Aegon is to close its defined benefit pension scheme to future accrual in March 2013 as part of its restructure and cost saving programme.
PPF reveals £678m surplus
UK - The Pension Protection Fund has published its annual report - revealing a surplus of £678m ($1.1bn) at 31 March.
Alcatel-Lucent funding status drops into the red
FRANCE - Alcatel-Lucent reported a pension and other post employment benefit (OPEB) deficit of €1.2bn ($1.7bn) in the third quarter down from an overfunding of €49m at the end of June.
Diamond: Stable investment banking crucial to maximising scheme returns
UK - Schemes looking to maximise returns in a low interest rate environment must work closely with investment banks to boost member outcomes, Barclays chief executive Bob Diamond says.
Multinationals remain sceptical of cross-border pensions
EUROPE - The majority of European multinational companies would like to develop cross-border pensions but differing regulations among member states and uncertainty over changing European rules are giving plan sponsors pause, AEGON finds.
Pioneer expands Iberia team
SPAIN/PORTUGAL - Pioneer Investments has appointed Teresa Molins as senior sales manager of its institutional business in Spain and Portugal.
Mercer launches stewardship service for trustees
EUROPE - Mercer has launched a service to help trustees and other institutional investors meet their stewardship requirements.
DB risk management enters 'the next phase'
UK -More than 40% of firms have closed or are in the process of closing their defined benefit pension schemes, latest research from Aon Hewitt shows.
Treasury makes enhanced offer on public sector pensions reform
UK - The government has offered unions an improved accrual rate of 1/60th and more protection for workers approaching retirement in a concession on public sector pension changes.
The cost of a political crisis
That the third quarter was turbulent was no surprise. But recently released funding figures for pension funds and asset under management figures for asset managers have helped us crystallise the cost of the uncertainty surrounding the future of the EU...
Financial transaction tax: a costly proposal
Pension funds could soon have to bear the cost of a Europe-wide tax on equity, bonds, currency and derivative transactions, finds Lynn Strongin Dodds
NEST rival launches with 0.3% AMC plus £1.50 per month admin fee
UK - NOW: Pensions, the multi-employer scheme set up by Danish pension scheme ATP to rival the National Employment Savings Trust, has unveiled details of its product offering.
ATP sees lack of home-grown infrastructure opportunities
DENMARK - Danish pension fund ATP would like to invest in local infrastructure but a lack of ‘political focus' has led to a dearth of appropriate opportunities.
NEST commits to socially responsible investment with UN PRI pledge
UK - NEST has signed up to the United Nations Principles for Responsible Investing in a bid to boost long term investing and good corporate governance.
Tax body boss forced out by pension fraud investigation
UK - Andrew Meeson, the president of the Association of Tax Technicians, has stepped down from his post after being charged in relation to a £5m ($8m) pension tax fraud.
Norway pension fund loses $52bn in Q3
NORWAY - The Government Pension Fund Global returned -8.8% or -NOK284bn ($52bn) due to stumbling global stock markets, third quarter results show.
Legal & General Property restructure team
UK - Pension fund property manager Legal & General Property has restructured its senior management team by appointing a new director to oversee its range of funds.
BAE scheme deficit could spook investors - RBS
UK - British defence firm BAE Systems' pension scheme deficit is creating "negative sentiment" among investors, lowering the target price for stock in the firm, banking analysts say.
ATP returns 4.2% in first three quarters
DENMARK - Danish pension fund ATP returned 4.2%, or DKK15.7bn ($3bn), in the first three quarters of the year, bringing total assets under management to DKK554bn.
Fund managers give guarded welcome to rescue deal
EUROPE - Finance practitioners generally echoed the welcome markets gave to details of the latest, expanded eurozone rescue deal, but said the "eye of the storm" will now move to focus on Italy and its beleaguered ruling coalition.
NEST to develop internal equity and bond markets
UK - The National Employment Saving Trust is set to develop its own internal market to switch equities and bonds between members' funds, its head of investment policy says.
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