All IPE articles in August 2003 (Online)
View all stories from this issue.
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News
Mercer makes four top European appointments
EUROPE - Mercer Human Resource Consulting has made four senior appointments to its international consulting team, including two new hires.
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Deutsche to strengthen global asset management
GERMANY – Deutsche Bank says it wants to strengthen its global asset management business, though it is ruling out acquisitions for now.
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Jupiter under scrutiny in Somerset revamp
UK – Somerset County Council’s 600 million pound (855 million euro) pension fund has put out two tenders for a UK bond mandate and a UK property manager of managers mandate following an overhaul of its investment strategy.
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Institute blasts failure of German Riester reform
GERMANY – “The Riester reform has failed” and “Germans must save more” – this is the message from the German Institute for Retirement Provision.
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Swiss pension fund returns in “turnaround”
SWITZERLAND – Swiss pension funds returned seven percent in the second quarter, a “turnaround” according to performance measurement firm InterSec.
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Higham Black Mountain names senior actuary
UK – Higham Black Mountain is expanding its pension administration and consultancy services with the addition of Paul Jayson.
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Hackney seeks actuary and property manager
UK – The London borough of Hackney is looking for an actuarial consultant and a property fund manager for its 340 million-pound (486 million euro) pension fund.
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Study says derivatives can help pension crisis
GLOBAL – A new academic study says options can be used to make defined benefit pension schemes more sustainable.
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Northern Trust unveils investment-monitoring tool
US - Northern Trust has launched a tool to enable institutional clients monitor the impact of market events on their portfolios.
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Water scheme awards SSGA passive mandate
UK – The 300 million-pound (426.7 million euro) Water Companies Pension Scheme has appointed State Street Global Advisors to manage over two-thirds of its assets.
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French reserve fund tenders mandates
FRANCE – The Fonds de Reserve pour les Retraites has now put out to tender the mandates for the entire 16 billion-euro retirement reserve fund.
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SWIP makes E1.4m first-half loss
UK – Scottish Widows Investment Partnership has posted a first-half loss of one million pounds (1.4 million euros), compared to a profit a year ago of six million pounds.
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State Street completes GSS buy in Austria
AUSTRIA – State Street Corp. has completed its purchase of Deutsche Bank’s securities services arm in Austria, the last piece of the jigsaw of a 1.5 billion-dollar acquisition.
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Higham opens two new UK offices
UK – Insurance and pension industry consulting firm Higham Group has responded to “significant” growth in demand by opening two new offices.
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Aberdeen cancels sale of property arm
UK – Aberdeen Asset Management has announced it will not sell Aberdeen Property Investors to British Land Co. and that it will retaining the business.
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Shropshire awards enhanced index mandate to GSAM
UK – The 450 million-pound (641 million euro) Shropshire County Council pension fund has appointed Goldman Sachs Asset Management to run a quantitative driven US enhanced index mandate – the first of its kind to be implemented by a UK local authority.
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New UK pension transfer rules come into force
UK – New regulations covering the calculation of pension transfer values came into force today, the government said.
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Germany’s BVI launches investment training
GERMANY – Four German investment companies have teamed up with the BVI, Bundesverband Investment und Asset Management, to offer a three-year on-the-job training programme as investment specialists – the first programme of its kind in Germany.
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Watson Wyatt’s Urwin uncertain over industry’s future
GLOBAL – The head of Watson Wyatt’s global investment consulting business says there is a sense of “real uncertainty” over the pensions industry – and that maintaining the status quo is not an option.
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Profits up at PGGM-backed property firm Rodamco
NETHERLANDS - Dutch property group Rodamco Europe, which is 24%-owned by PGGM, has posted a 10% rise in first-half net profit to 155 million euros.
