All IPE articles in August 2003 (Online)
View all stories from this issue.
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Italy the focus at European pension summit
ITALY – Italy is one of the main topics – alongside the pension fund directive – to be covered at the forthcoming European Pension Schemes Summit in Rome next month.
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Danish fund tenders Euro small-caps via IPE-Quest
DENMARK – A Danish industry-wide pension fund has tendered a mandate for pan-European small-cap equities via IPE-Quest.
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Sweden’s AP2 names new head of equities
SWEDEN – Andra AP-fonden, the second Swedish national pension fund, has hired Nordea Investment Management’s Poul Albaek Winslöw as its new head of equities.
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Fortis Investments hit by institutional outflows
BELGIUM – Asset management profits and revenues at Fortis fell in the first half of this year – hit by net outflows of institutional clients.
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OPRA meets firms with pension funding problems
UK – As part of its new “pragmatic” approach, the Occupational Pensions Regulatory Authority has started to meet employers and trustees where schemes have funding problems.
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Watson’s Pickering to discuss consultants
UK – Watson Wyatt partner Alan Pickering is to discuss the role of pension consultants at a conference in London in October.
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Portuguese pension funds return +4.7% - Mercer
PORTUGAL – Portuguese pension funds returned a median +4.7% in the first half of 2003, according to a survey by Mercer Investment Consulting.
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Ex-MN Services sales head sets up consultancy
NETHERLANDS – The former head of sales and marketing at MN Services, Marion Verheul, has set up her own pensions consulting firm.
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Jobs go as Cerulli closes London office
EUROPE - Cerulli Associates has closed its London office with the loss of three jobs.
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SSGA hires Hungarian central bank’s Domjan
UK - State Street Global Advisors has hired Mihaly Domjan from the Hungarian central bank to be a senior portfolio manager in its cash management team.
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AP4 not satisfied with performance vs. benchmark
SWEDEN – The fourth national pension fund Fjarde AP-fonden, or AP4, says its performance against its benchmark in the first half of the year was “unsatisfactory”.
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Fitch sees recruitment risks at State Street
GLOBAL – Ratings agency Fitch has downgraded State Street Corp., saying there are potential problems with hiring and training new staff while integrating the Global Securities Services acquisition.
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Austria relaxes second-pillar rules to bolster assets
AUSTRIA - The Austrian government has relaxed the rules governing the country’s second-pillar occupational pension plans in an attempt to strengthen their asset base.
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Swiss government “open” on minimum pension rate
SWITZERLAND – The Swiss government has signalled that it may reconsider its decision to cut the minimum interest rate guarantee on pensions to two percent.
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Russian electric pension fund taps Pallada
RUSSIA – The 1.9 billion-rouble (57.1 million-euro) pension fund of Russia’s electric power industry has awarded an active mandate to Pallada Asset Management.
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Ageing population to be burden – Watson’s Orszag
GLOBAL – The ageing population in developed countries will lead to a higher burden due to early retirement, says a new study co-authored by Watson Wyatt’s research head Michael Orszag.
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Institutions “need educating” about alternatives
EUROPE - Peter Schwicht, the head of European institutional business at J P Morgan Fleming, says institutional investors need to be educated about the benefits of alternative investments.
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UK public sees property providing pensions
UK – Around 40% of the British public say their residential property investment will provide them with an income in retirement, according to a new report. This view is most entrenched among younger people.
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Pictet Asset Management hires Gartmore’s Steele
EUROPE – Pictet Asset Management has hired Ann Steele from Gartmore as senior investment manager and head of European equity portfolio construction.
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KBC Asset Management CEO Caldwell to retire
EUROPE – The founder and chief executive of KBC Asset Management, Gavin Caldwell, is to retire and be replaced by Sean Hawkshaw.
