All IPE articles in August 2002 (Online) – Page 2
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News
Russell/Mellon hires pensions relationship manager
UK- Russell/Mellon CAPS has announced the appointment of Fraser Berrie as a client relationship manager in its London Office.
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AP3 commits further e135m to private equity
SWEDEN- Sweden’s third national pension fund AP3 has committed a further e135m to private equity taking its total investment in the asset class to e210m. The latest commitment by the fund is almost split half and half between US and European private equity houses.
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Man launches bond guaranteed to return 120%
UK- Man Investment Products has launched its first product to guarantee investors a return of at least 120% of their initial investment at maturity.
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AP3 loses e1.1bn & announces new governance policy
SWEDEN- Sweden’s third national pension fund has suffered a 7.4% fall, or equivalent of Sek10.1bn (e1.1bn) loss, during the first half of 2002 due to the sharp drop in equity markets.
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Rolls-Royce to pay e55m to plug growing deficit
UK- Rolls-Royce has warned that it may have to pay out a further £35m (e55m) next year in order to plug the shortfall in its main UK pension fund. The group already makes annual contributions of £72m (e113m).
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Kelly quits Mercers for Vodafone pensions job
UK- Paul Kelly has quit Mercer Human Resource Consulting where he was European partner and senior consultant to join telecoms group Vodafone as director of pensions.
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Nordea names Lindelow as global head
SWEDEN- Nordea Securities has announced the appointment of HSBC’s former head of European equities Frans Lindelow who joins the Nordic group in Stockholm as global head at the beginning of September.
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Carnegie names new chief executive
SWEDEN- Nordic financial group Carnegie has announced plans to promote Karin Forseke to the role of chief executive on the retirement of Lars Bertmar. Forseke currently works in London as head of Carnegie’s international securities operations and will return to Sweden for her new role.
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Shake up at US fund sees Rogge lose e611m mandate
US- A complete overhaul of asset allocation at the Illinois teachers’ retirement system (TRS) has thrown two mandates out to tender and led the fund to drop Rogge Global Partners from a $594m (e611m) international fixed income mandate.
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Mercers hires Standard Chartered's pensions head
UK- Mercer Investment Consulting has added to its UK team by hiring Standard Chartered Bank’s Chris Gill who joins as a European principal and senior consultant responsible for manager research and a number of clients.
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Bureau Bosch publishes Dutch manager rankings
NETHERLANDS- Foreign investment managers will soon overtake their Dutch counterparts in overseeing the country’s pension fund assets according to the 2002 report by consultant Bureau Bosch into the Dutch investment industry. The report covers 78 managers and is seen as a definitive guide to the Dutch pension fund investment market.
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Dutch funds lose e79bn in twenty months
NETHERLANDS- Dutch funds have taken a battering in the last eighteen months and have lost a combined e79bn since the beginning of 2001 according to the seventh and latest edition of the Bureau Bosch fund manager survey.
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Buck Heissmann buys Dutch consultant ConAct
NETHERLANDS- The Dutch arm of consultant Buck Heissmann has merged with the Houten-based actuarial consultants ConAct in a deal that doubles Buck Heissmann’s workforce to around twenty.
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JP Morgan buys Plexus and joins up with Inalytics
US- JP Morgan Chase bank is boosting its management and monitoring of trading costs by acquiring US company Plexus Group and signing an alliance with Inalytics, the UK-based cost analysis provider.
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European venture capital business down 46% in 2002
EUROPE- European venture capital activity has shown further declines in the second quarter, according to a survey by Ernst & Young and VentureOne. The gloomy results confirm the gradual waning of Europe’s venture capital industry since 2000 but venture capital companies argue that the figures should not be taken out ...
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Golman Sachs beefs up cash management team
UK- Goldman Sachs Asset Management has added to its cash management team with the appointment of Richard Norval as executive director with the European cash sales team.
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CalPERS names interim chief executive officer
US- CalPERS has appointed Robert Walton interim chief executive following the departure of James Burton after eight years in the role to head up the World Gold Council in London.
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Aon gets go-ahead for multi manager OEIC
IRELAND- Aon consulting has received regulatory approval for its new Dublin-based open ended investment company, Aon Investment Company. Registered in Dublin, the OEIC will operate from London and provide an integrated service combining investment consulting advice with a manager of managers approach.
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Mercers replaces Watsons as Home Group advisor
UK- Mercers Human Resource Consulting has replaced rival Watson Wyatt as provider of actuarial and consulting services to the pension funds of housing provider Home Group.
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Greenwich tenders entire e750m fund
UK- The London Borough of Greenwich pension fund has tendered its entire £480m (e749m) portfolio, currently managed by Schroders and Deutsche Asset Management.
