News

DENMARK - Denmark's largest pension fund, ATP, has posted bumper Q1 investment returns of DKK5.4bn (US$985m) before tax, with listed domestic equities.

UK - The Surrey Pension Fund has issued a mandate seeking a global equity and currency manager.

THE FORMER Boots pension schemes rose £20m into surplus during the past financial year, preliminary company results reveal.

NETHERLANDS - Blue Sky Group, which manages KLM's pension funds, revealed plans to change investment strategy, award new mandates and expand its client portfolio.

UK - Stamp duty costs pension funds £574m each year, according to a new report by study group Oxera, commissioned by the London Stock Exchange and other major players.

SCHEME members who want to transfer their pension overseas are being unfairly taxed for exceeding the annual saving cap, actuaries claim.

UK - Allenbridge group has purchased a 51% equity stake in EPIC Investment Advisors from Syndicate Asset Management in order to expand its appeal to pension trustees.

CANADA - Hundreds of unionised Bell Canada Enterprises (BCE) employees marched to the company's Montreal offices yesterday demonstrating over recently announced ‘unfair' pensions cuts.

ROLLS-ROYCE is set to pump £360m into its UK pension funds if trustees agree to implement a less risky investment strategy.

UK- Trustees in the Alliance Boots pension scheme have reportedly demanded approximately £1bn from its potential private equity owners to cover a shortfall.