The EUR20 million (GBP7.2 million) defined benefit scheme Stichting Pensioenfonds KSB Nederland BV plans to liquidate its fund at the end of 2011 and will implement a new average wage scheme instead in January 2012.
The Printpack Europe Pension Scheme will wait until the results of the ongoing actuarial valuation in October before re-evaluating strategy.
The two defined benefit schemes for professional services firm PricewaterhouseCoopers, worth a combined GBP164 million, are closing to future accrual on April 5.
The pension fund for chemical and paint group ICI has benefitted from its majority liability-driven investment strategy, with a 5.5% return over the turbulent last decade, compared to 3.7% for the average U.K. defined benefit scheme; according to the WM All Funds index.
An Indian Ministry of Finance’s working group on foreign investment is recommending that foreign institutional investors be allowed to buy foreign exchange futures.
Portfolio Advisors LLC has been hired by Avadis Anlagestiftung to manage its recently-launched Private Equity World VIII funds.
The endowment fund for Durham University is satisfied with the performance of its sole asset manager Sarasin & Partners despite a GBP1 million loss the fund has incurred from a GBP26 million peak in value in May.
The Alliance UniChem U.K. Group Pension Scheme has insured GBP300 million of liabilities with the Pension Insurance Corporation (PIC).
The retirement benefits scheme for the National Trust has scheduled its next actuarial valuation for next April, to be possibly followed by an asset/liability matching study.
The defined benefit pension fund of Vitec Group has closed, and the 112 active members have been invited to join the company’s defined contribution Group Personal Pension Plan instead.
Members of the U.K. Aviva and RAC Staff Pension Scheme’s will be offered money purchase arrangements from April 1 with the aim of improving the overall security of employees’ final salary benefits.
The Littlewoods Pension Scheme is under consultation with members over a proposal to close the scheme to future accrual on Dec. 31.
Distressed debt is becoming more of an appealing asset class to institutional investors as economic growth looks to stagnate over the coming years, particularly in the European Union and the U.S.
Mercer has opened a new investment consulting office in Manchester, recruiting three staff members from PricewaterhouseCoopers.
The pension scheme for house builder Persimmon has decided that future accruals within its defined benefit scheme will be based on career average salaries rather than the previous final salary arrangement.
The pension scheme for the AXA Insurance Group has set up a recovery plan to reduce its GBP1.5 billion deficit over a period of 15 years and nine months, with an increase in overall contributions from its sponsor.
The GBP28 billion Universities Superannuation Scheme (USS) has made a bid to own the high-speed rail link which connects London to the Channel Tunnel.
HSBC has contributed GBP1.76 billion to help close the GBP3.2 billion deficit in its staff pension scheme, reported at its last triennial valuation of December 2008.
Schroder Investment Management is increasingly using its defined contribution scheme as an incentive to attract top staff, much in the same way defined benefit schemes used to be.
Aker ASA, a Norwegian investment group, is expanding its capital management capacity by starting a hedge fund firm, Norron Asset Management.
The Danish asset manager BankInvest is gradually rebuilding its U.K. investment team and recovering investment performance after losing nearly all of its clients earlier this year.
The Tate & Lyle Group will close its GBP800 million defined benefit pension scheme will close next April, with new and existing members transferring to a defined contribution alternative.
Arbejdsmarkedets Tillaegspension, the largest Danish pension fund with GBP49 billion in assets, is trying to identify ways to break into the U.K. pension management arena after recently opening an office in London.
Caisse de Prévoyance du Personnel des Etablissements Publics Médicaux du Canton de Genève (CEH), the CHF2.6 billion defined benefit scheme, will merge with the Caisse de Prévoyance du Personnel Enseignant de L’Instruction Publique et des Fonctionnaires (CIA) within the next two years.
Institutional investors are starting to switch to the MSCI All Country World Index (ACWI) from the MSCI World Index because of the advantages of investing in a broader portfolio.
Munich-based Assenagon Asset Management has launched the Assenagon Global Opportunities Fund, an absolute return fund which uses equity derivatives.
Orion Elakesaatio, the EUR235 million corporate defined benefit scheme, is considering investing in new equity and bond funds this year.
Pensionskassen for Børne og Ungdomspædagoger, the DKK34 billion Danish scheme for kindergarten teachers, is in the process of performing a Solvency II study with the aid of an undisclosed consultant.
Svenskt Naringsliv, a SEK12.6 billion insurance scheme, recently increased its Swedish equity portfolio.
AP-Fonden 4, one of Sweden’s four buffer funds, will conclude an asset/liability matching study this autumn.
The GBP1.92 billion Social Housing Pension Scheme (SHPS) has significantly reduced its deficit to GBP619 million and increased the number of members to over 60,000.
The GBP261 million British Waterways Pension Fund is negotiating with unions over proposals to close the scheme to new entrants.
The Royal Mail Pension Plan has reached an agreement that will involve substantial contributions in excess of the current level to help curb the fund’s deficit.
Premier Foods Pension Fund plans to close its defined benefit schemes to new members by next April in an attempt to curb its GBP413 million combined deficit.
The GBP567 million George Wimpey Staff Pension Scheme will close to future accrual on Aug. 31 this year.
The GBP963 million Plumbing & Mechanical Services Industry Pension Scheme has advertised for a new pension sales executive.
The GBP16 billion Barclays U.K. Pension Fund has appointed Stergios Saloustros as head of dynamic asset allocation.
Institutional investors are starting to focus more on the loan market, according to Alcentra’s Managing Director Simon Perry.
The GBP253 million William Hill Pension Scheme is scheduled to start a valuation in September, which will be followed by an asset-liability matching study soon after it is expected to finish in March 2011.
JPMorgan Asset Management is generating buzz from institutional investors and consultants a week after the launch of a new alternatives offering, Alternatives Portfolio Strategy.
UMR Corem, the EUR5.2 billion French hybrid scheme, nabbed an award for the services it provides to its members.
Baring Asset Management’s new Head of U.K. & International Institutional Sales Andrew Benton is looking to hire several new European emerging markets specialists to his growing team.
Pitmans Trustees Limited, an independent trustee and governance services provider, is preparing to launch the Association of Member Nominated Trustees and Directors.
Sportfondsen Psf, the EUR143 million Dutch corporate defined benefit scheme, is planning to increase its allocation to equity.
The PHP11.6 billion (GBP166 million) Armed Forces of the Philippines Retirement & Separation Benefits System may hire external managers for the first time as the country’s new presidency settles in.
QinetiQ Group Plc Pension Scheme, with assets of GBP850 million, is changing its asset mix to include more growth assets.
Stiftung Abendrot, the CHF505 million (GBP317 million) corporate defined contribution scheme, will buy real estate while reducing its equity exposure.
The GBP800 million pension scheme of CSC Computer Sciences is planning to close for future accrual and is considering a change to its investment strategy.
Fonds de Reserve pour les Retraites (FRR), the French EUR34.5 billion sovereign pension fund, has terminated Allianz Global Investors France (formerly Nicholas Applegate Capital Management), due to poor performance.
The Associated British Engineering (ABE) Group has seen three of its four pension schemes wind down, and two are now into administration by the Pension Protection Fund.
Natixis Global Associates, the distribution arm of Natixis Global Asset Management, has added two staffers to its U.K. institutional team.
The BBC has proposed closing its defined benefits scheme, the GBP8.2 billion British Broadcasting Corporation Pension Scheme, to new members from Dec. 1.
The GBP34 billion BT Pension Scheme increased its assets by GBP2.7 billion last year, reducing its deficit by GBP1.4 billion.
More U.K. pension funds with less than GBP10 million in total assets are appointing independent trustees to lessen the workload.
Swedish Match is closing its two pension schemes, PSA and PSF, from Dec. 1.
The GBP131 million PZ Cussons Retirement Benefits Plan is awaiting the results of its actuarial valuation, according to Pension Fund Manager Mandy Elsett.
Hayward Tyler Pension Plan, the GBP10 million pension fund for a U.K. engineering company, has started an investment review on the back of its recently-completed actuarial valuation.
Scores of U.K. pension funds will be affected by BP’s confirmation that it will cancel its dividend payments for the first time since 1992.
The ZAR20.1 billion Sasol Pension Fund is conducting an annual asset/liability modelling study with the help of actuary Arthur Els & Associates.
The GBP77 million Presbyterian Church of Ireland Ministers’ Pension Scheme has merged with two other church schemes to form the Presbyterian Church of Ireland Pension Scheme 2009.