All IPE articles in April 2002 (Online) – Page 4
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News
T Rowe enters fund partnership with Tapiola
FINLAND- Investment manager T. Rowe Price has entered a partnership with Tapiola Fund Management Company, giving Tapiola exclusive rights to market six T. Rowe Price funds in Finland through its own branded mutual funds.
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API says UK funds should raise property to 15%
UK – Aberdeen Property Investors (API) has suggested that with property set to outperform other asset classes over the next five years, pension funds should increase their exposure to 15% of the overall portfolio.
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Pensions regulator appoints Hobman as new CEO
UK- The Occupational Pensions Regulatory Authority (Opra) has appointed Tony Hobman as its new chief executive. He replaces Caroline Instance who has left to become chief executive of the Faculty and the Institute of Actuaries and secretary general of the Institute of Actuaries.
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Credit Agricole adds to its Benelux operation
BELGIUM- Credit Agricole Asset Management is adding to its Brussels office with the appointment of Sandra Lequime as senior client relationship manager. She joins from State Street Global Advisors in Brussels where she was in charge of sales and client servicing for large Dutch pension funds.
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UK state pension to rise irrespective of inflation
UK- UK pensioners can expect a larger basic state pension following the announcement that it is to rise by at least £100 a year irrespective of the rate of inflation.
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Equitable to sue Ernst & Young for up to £2.6bn
UK- Equitable Life is suing its former auditors Ernst & Young for up to £2.6bn over its role in the guaranteed annuity crisis that pushed it to the brink of collapse. In a statement to policyholders, Equitable Life says its solicitors Herbert Smith had written to former directors, auditors and ...
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Brainpower and Lipper sign data agreement
GLOBAL- Neuer Markt-quoted Brainpower, provider of investment analysis software, has announced a global agreement with fund information company Lipper to offer its mutual fund data for the UK, European, US and Asian markets integrated with Brainpower's various analytical tools.
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Frank Russell adds Barry to institutional team
UK – Investment services firm, Frank Russell Company, has appointed Mark Barry as director of client service within its institutional investment services team.
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Equity outlook deteriorates says Merrill Lynch
GLOBAL- The outlook for world equities has deteriorated in the past month, according to Merrill Lynch’s latest fund manager survey. In the report, which surveys 300 fund managers, institutional investors are quoted as saying equites appear overpriced and that the prospects for interest rates have deteriorated.
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PGGM to diversify into more exotic fixed income
NETHERLANDS- PGGM is to make allocations to high-yield, emerging market and index-linked bonds following disappointing results for 2001. It is also increasing its European corporate bond portfolio and will give NIB Capital, which it acquired with ABP three years ago, a larger mandate.
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CIPFA issues guidelines for government schemes
UK – The pensions panel of the Chartered Institute of Public Finance and Accountancy (CIPFA) has issued a new set of guidelines for the Local Government Pension Scheme (LGPS), the umbrella organisation for 100 individual local authority pension funds in the UK representing £100bn (€163bn).
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Spanish distribute paper on pensions directive
EU- The Spanish presidency has distributed a text to the various delegations to the working groups for pension supposedly clarifying its position on technical provisions, quantitative investment restrictions and solvency issues.
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CDC IXIS loses head of European equities to Fortis
FRANCE – French investment management group, CDC IXIS Asset Management in Paris has lost its head of European equities, Gilles Meshaka, as well as three members of his team, Sadri Tamarat, Laurent Jacquier-Laforge and Pierre-Alain Labat. All four are reportedly moving to rival asset manager, Fortis Investment Management, as part ...
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UK budget is bad news for property investors
UK – Changes to stamp duty on commercial property announced in chancellor Gordon Brown’s budget will lead to growth in the property unit trust market according to Tim Bell, director of property at F&C Management in London.
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ABP down €3bn after 'disappointing' 2001
NETHERLANDS – Europe’s largest pension fund, ABP, has reported a decline in pensions capital in 2001 from €150bn at the start of the year to €147bn at the end. The decline is the result of disappointing returns coupled with the decline in net assets and overlay contracts, says the company’s ...
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Wilding to replace Piermay at EURACS
NETHERLANDS- The European Actuarial Consulting Services (EURACS) has appointed Danny Wilding of Barnett Waddingham as chairman to succeed Dominique Piermay of Fixage following the actuarial company's decision to leave and join the consulting network Milliman Global.
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Rothschild launches UK corporate bond fund
UK – London-based Rothschild Asset Management has launched a new UK corporate bond fund as part of its institutional pooled fund range. The new fund will have an initial value of £37.5m (€61.2m) and is part of its Five Arrows open-ended investment company (OEIC) fund range.
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ALM study could open up PMI's investment strategy
NETHERLANDS – The giant €12.5bn Dutch metal workers fund, PMI, is undertaking an asset liability study that could open up its investment strategy to include alternatives such as commodities, currency overlay, below investment grade bonds and inflation-linked contracts.
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NTMA announces seven managers for final e2bn
IRELAND- Ireland’s National Treasury Management Agency (NTMA) has announced the final seven managers to run the unallocated e2bn of the National Pensions Reserve Fund’s e8bn in assets.
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Deutsche and Amvescap strike distribution deal
GERMANY/UK- Deutsche Bank and Amvescap’s Invesco have announced an alliance in which Deutsche will distribute Invesco’s products to its client base.
