All IPE articles in April 2002 (Online) – Page 2
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News
Riester products "bureaucratic and expensive"
GERMANY – The new private Riester pension funds in Germany have made a disappointing start, according to an article in the Frankfurter Allgemeine. The average monthly contribution rate stands at just €16 opposed to €108 for the traditional insurance funds.
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EU Working group meets to dicuss Spanish proposals
EU- Member state delegations to the EU pension working group meet tomorrow to discuss the latest paper published by the Spanish presidency.
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Swiss pension funds show modest recovery in 2002
SWITZERLAND – Swiss pension funds have shown a turnaround in fortunes in the first quarter of 2002, with the median manager in the InterSec balanced universe returning 1.1%, according to figures just issued by Zurich-based research group.
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LPFA takes on independent investment advisor
UK- The £3bn London Pensions Fund Authority (LPFA) has appointed David Rough as an independent investment advisor in response to publication of the Myners report last year. Until recently, Rough was group director of investments at the Legal & General Group and he remains a consultant with L&G Investments. ...
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Morley loses head of institutional marketing
UK - Morley Fund Management has lost its head of institutional marketing, Mark Miller who has resigned “to take time out” before deciding the next step in his career. He will be replaced on in interim basis by Vicki Rhind, head of marketing and communications, although she says there ...
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Yorkshire hands e900m to Schroders and Western
UK – The £865m (€1,407m) Yorkshire Electricity Group pension scheme has carried out a strategic asset allocation review that has led to the appointment of Schroders and Western Asset Management to run two new £280m (€455m) sterling fixed income mandates.
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NI increase will produce more DB closures
UK- Pensions professionals have warned ministers that more companies are likely to close defined benefit pension schemes in an attempt to offset some of the annual £4bn cost of the 1% increase in national insurance announced by Gordon Brown in last week’s budget.
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Punter Southall hires Forest-Jones from Aon
UK – Consulting actuaries firm, Punter Southall has appointed Graham Forest-Jones as group marketing director to its London office. The move follows the recent appointment of Graeme Muir as head of the group’s public sector pensions department.
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86% of new PPM members opt for default fund
SWEDEN- Sweden’s PPM system has taken on a further Sek216m (e23.5m) from the latest influx of new members. Of the 196,000 joining the scheme for the first time, 86% preferred not to choose a fund and instead ended up in the default AP7 fund. Those 14% of new savers not ...
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AXA IM promotes Moreau to CEO
UK- AXA Investment Managers, one of Europe's largest fund managers, has announced the appointment of Nicolas Moreau as chief executive.
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JP Morgan's Lowrie joins Newton IM
UK – London-based Newton Investment Management has appointed Audrey Lowrie as a fund manager with responsibility for UK institutional equities and global multi-asset portfolios.
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T Rowe and DAB Bank sign German distribution deal
GERMANY – Baltimore-based investment manager T. Rowe Price has signed a distribution deal with Munich-based DAB Bank to distribute the eight German sub-funds within its recently-launched Luxembourg SICAV range to private investors.
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CAPS data show increased confidence in equities
UK/GLOBAL- The world’s major equity markets showed weak signs of recovery in the first quarter of 2002 according to the latest CAPS pooled pension fund survey.
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French warm to Épargne Salariale pensions
FRANCE – The Épargne Salariale market is fast becoming considered a principal source of retirement provision in France, according to the 2nd Baromètre Annuel de la Gestion de l’Épargne Salariale, the annual survey of occupational savings trends by JP Morgan Fleming, Hewitt and Interépargne Banque Populaire.
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Investec adds to London-based institutional team
UK - Investec Asset Management has won three new mandates worth £218m (€355m) and announced two new senior appointments to its London-based institutional marketing team.
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Pioneer makes Ratto head of management in Ireland
IRELAND- Pioneer Investments has promoted its director of fixed income and balanced portfolio management Mauro Ratto to director of portfolio management following Riccardo Cavo’s move across to Pioneer Alternative Investments.
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Reform to Italy's closed pensions hits trouble
ITALY - The pensions reform package to the closed pensions market in Italy has run into trouble and is unlikely to be passed, warns Roberto Casanova at Milan-based financial consultants IAMA Consulting. Were the package passed, IAMA predicts assets under management in the closed pension fund industry will grow ...
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Edinburgh fills CIO spot with MLIM's Richards
UK- Edinburgh fund Managers has finally filled its vacant post of chief investment officer with the appointment of Anne Richards from Merrill Lynch Investment Managers (MLIM).
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Italy's Laborfonds completes manager selection
ITALY - Laborfonds, the €100m complimentary pension fund for workers in Northern Italy, has appointed New York-based Alliance Capital to run its €10m US equity and fixed income portfolio.
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Henderson launches PE funds for German investors
GERMANY- Henderson Private Capital, the private equity arm of Henderson Global Investors, and the Feri Finance Group are launching two private equity fund of funds designed specifically for institutional investors in Germany.
