All IPE articles in August 2002 (Online)
View all stories from this issue.
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News
Stamford hires Davies as fixed income specialist
UK – London-based independent consultancy firm, Stamford Associates, has appointed Nick Davies as a fixed income specialist to its research team.
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UK company pension funds levels at 87%, says HBW
UK – The average funding level of UK pension funds, as revealed under the new accounting standard, FRS17, is likely to have fallen to 87% since the beginning of the year, says Brian Wilson, a consultant at Hewitt, Bacon & Woodrow (HBW) .
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Large Europeans to pay for optimism on pensions
EUROPE- Companies across Europe may soon start having to inject large sums of money to support their pension funds, as assumptions about the rates of returns for their schemes is proving somewhat overly optimistic...
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ITS supports OPAS call for trustee regulation
UK – Independent Trustee Services Ltd (ITS) has welcomed the call by the Occupational Pensions Advisory Service (OPAS) that some form of regulation should be introduced for pension fund trustees and the process surrounding the winding up of schemes within insolvent companies.
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Frank Russell adds two to multi-manager complex
IRELAND/UK – Washington-based investment services firm, Frank Russell Company, has appointed two new managers to its150+ Dublin-domiciled multi-manager investment funds.
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Italian railway workers' scheme tenders RFP
ITALY – The €26m Eurofer, the fledgling supplementary pension scheme for Italy’s state railways industry workers, has issued an RFP for managers for its assets.
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75% of UK pension funds would keep index-linking
UK - Three quarters of UK pension funds would keep index-linking of pensions in payment even if this were no longer compulsory, according the National Association of Pension Funds...
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BGI sees assets fall and profits rise in 2002
UK/US - Barclays Global Investors (BGI) saw total assets under management fall £30bn (E48bn) to £500bn in the first half of 2002, of which 7.2% was due to market changes. News assets inflow amounted to £33bn, but this was offset by £38bn due to adverse movements in markets, and £25bn ...
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Watsons launches cross-border benefit tracker
GLOBAL – Reigate-based global consultancy firm, Watson Wyatt, has launched a new internet-based platform designed to allow companies to track and manage benefits, compensation, pensions and other financial data between business units and across countries.
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FIS names new expanded institutional team
UK – London-based asset management group, Friends Ivory & Sime (FIS), has announced its new enlarged institutional management team. Though there is no change to the company’s strategy, FIS hopes to penetrate the institutional insurance market as well as build on its institutional pension fund client base.
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ABP & PGGM curb stock-lending to combat volatility
NETHERLANDS – Dutch pension funds ABP and PGGM, which have combined assets of almost €200bn, have announced joint action to suspend all stock-lending activity for short-selling in order to help combat market volatility.
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Morley beefs up UK institutional team
UK - Morley Fund Management has beefed up its UK institutional team with the appointment of Angela Campbell as a consultant sales director and Andrew Richmond as a client relationship manager.
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S&P says prospects for European property are poor
EUROPE- Falling rents and rising vacancy rates across in Europe over the past six months mean the outlook for the real estate sector remains negative despite low interest rates and high capital values, according to Standard & Poor’s.
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Fixed income ETFs due in Europe after US launch
EUROPE/US – The New York Stock Exchange (NYSE) has issued the world’s first fixed income exchange traded funds (ETFs) but a spokeswoman for Morgan Stanley in London says foreign investors would do better to leave the four new funds alone.
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Mercer says schemes need to monitor risk
UK/EUROPE – Investment and benefits consultancy firm, Mercer Human Resource Consulting, has welcomed the call for companies to give mid-year pension scheme funding levels and warns schemes should now begin to actively monitor and manage risk.
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Watson Wyatt hires First Quadrant's Robert Brown
UK- Consultant Watson Wyatt has appointed Robert Brown from First Quadrant as a senior consultant in its investment practice.
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Gartmore hires Burvill to run UK equity income
UK – London-based investment management group, Gartmore, has appointed Chris Burvill as head and lead fund manager of UK equity income. He will report to Jon Thornton, head of UK equities.
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UK's largest DB funds show e40bn FRS17 deficit
UK – Under the new accounting standard FRS17, the UK’s largest defined benefit pension schemes had an aggregate deficit of some £25bn (€40bn) in July on a corresponding asset base of £200bn, according to a new report by the consultants Lane Clark & Peacock (LCP).
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Greek pensions burden may hit 25% of GDP by 2050
GREECE – Recent reforms to the pensions system is Greece are insufficient to avert a pension crisis that could see its state pension burden rise to 17.5% of GDP by 2025, the highest in the European Union, according to ratings agency Standard & Poor’s (S&P).
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German pension 'time-bomb' blown out of proportion
GERMANY – Recent reports that the private sector in Germany faces a pensions time-bomb because of demographics and economic declines have been blown out of proportion according to a pensions spokeswoman for Morgan Stanley in Frankfurt.
