All IPE articles in August 2003 (Online) – Page 2
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News
Petroleum Fund gives fixed income custody to Citibank
NORWAY – The Petroleum Fund says it has entered a global custody agreement for fixed income instruments with Citibank.
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Italian PM wants to raise retirement age
ITALY – Italian prime minister Silvio Berlusconi has called for the retirement age to be raised by five years.
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Insurers slam UK’s stakeholder pensions
UK – The insurance industry body has slammed the UK’s new stakeholder personal pensions schemes - though the government says the scheme has made an “encouraging start”.
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Constellation launches global benchmarks
GLOBAL – Investment management firm Constellation Capital Management is to launch a set of global benchmarks aimed at helping pension fund trustees.
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European pension network to host seminar
UK – The European Network for Research on Supplementary Pensions is to hold a seminar in London about the best ways to increase pensions coverage.
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Sweden’s Alecta posts 5% first-half returns
SWEDEN – Alecta, the largest manager of occupational pension assets in the Nordic region, has posted a five percent return on investments in the first half as well as a swing to profitability.
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iShares closes nine of its sector ETFs
EUROPE – iShares is to close nine of its sector-based exchange traded funds next month, saying they are “just not a priority for European buyers”.
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State Street names UK consultant relations head
UK – State Street has named Yvonne Franklin to head consultant relations in the UK.
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Study seeks tailored Swiss occupational benefits
SWITZERLAND – A new academic paper says Swiss individuals would see large benefits from being able to tailor their occupational pension benefits more effectively.
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Hewitt buys Ireland’s Becketts
IRELAND – Hewitt Bacon & Woodrow has bought Irish employee benefits consultancy Becketts, citing “natural synergies”.
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Sweden’s AP1 says equity strategy bears fruit
SWEDEN – Swedish reserve fund Forsta AP-Fonden, or AP1, says its year-long strategy to maintain a high proportion of equities has paid off.
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BONY names head of new portfolio trade arm
UK – The Bank of New York has appointed Karin Russell-Wiederkehr to head up European sales for its new London-based portfolio trading business, G-Port.
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J P Morgan Investor Services hires sales execs
EUROPE - J P Morgan Investor Services has named two new London-based sales executives to cover Benelux, Germany, Austria and Switzerland.
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Towers’ Bateman to chair employee benefits group
GLOBAL – Towers Perrin’s Nigel Bateman is to take over the chairmanship of the International Employee Benefits Association.
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Hewitt ousts Mercer at Polestar pension scheme
UK – The 350 million-pound (504.2 million-euro) pension scheme of printing firm Polestar Group has awarded a pensions consulting job to Hewitt Bacon & Woodrow, resulting in a loss for rival Mercer.
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J P Morgan sets up Master KAG in Germany
GERMANY – J P Morgan Chase is expanding its business in Germany by splitting its administration and asset management business and creating a Master KAG.
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Swiss pension funds post first-half returns of +4.5%
SWITZERLAND – The median return for Swiss pension funds in the first half of the year was +4.5% according to Watson Wyatt and the Swiss Pension Fund Association, ASIP.
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Allianz Leben says non-Riester business strong
GERMANY – Allianz Leben has reported a strong performance in its pensions business in the first half as a growing number of people are turning to private pension schemes, but Riester pensions are still “disappointing”.
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Researcher calls for pension fund database
UK – An academic researcher has called for a database of pension fund reports to be set up, saying it would inform the current debate about pensions.
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E.ON pension fund taps MLIM for small-caps
UK/GERMANY – The pension fund of German energy company E.ON has appointed Merrill Lynch Investment Managers to run a European small-cap equity mandate.