All IPE articles in August 2003 (Online) – Page 4
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Blue Sky Group backs new Kempen property fund
NETHERLANDS – Blue Sky Group, the manager of the pension assets of Dutch airline KLM, has been the first to sign up to Kempen Capital Management’s European real estate fund.
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ISIS dismisses "arbitrary benchmarks"
UK - The chief investment officer at ISIS Asset Management wants the investment industry to rethink its views on benchmarking to an index.
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Global fund managers go underweight bonds - Merrill
GLOBAL – Fund managers have dramatically changed their interest rate views over the past month, leading to a sharp move underweight in bonds, according to the latest fund manager survey by Merrill Lynch.
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Danish fund tenders EM debt via IPE-Quest
DENMARK - A public pension fund in Denmark has tendered a mandate for 75 million euros in actively managed global emerging markets government debt via IPE-Quest.
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Axa Investment Managers’ earnings fall 6%
FRANCE – Axa Investment Managers’ earnings and revenues declined by six percent and 13.7% respectively in the first half, according to Axa Group’s first-half earnings report.
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Institutions lift German spezialfonds investment
GERMANY – Institutional investment into German spezialfonds increased in the second quarter of 2003, according to new statistics from the BVI Bundesverband Investment and Asset Management.
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Institutions eye fixed income – Threadneedle
UK – Threadneedle Investments says it anticipates that institutions will raise their allocations to fixed interest due to a change in the way pension fund liabilities are measured.
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SEI expands its institutional team
UK – SEI Investments has expanded its institutional team with the creation of three new roles, including a new appointment.
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Insight multi-managers move to Gartmore
UK – Insight Investment has lost its five-strong multi-manager team to Gartmore Investment Management – though Insight says its multi-manager conviction is “unchanged”.
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Hewitt surveys European corporate governance
EUROPE – Consulting firm Hewitt is currently conducting a Europe-wide study into corporate governance.
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Italy’s Inpdap sees retirement age rising to 70
ITALY – A senior public sector social security figure has said the retirement age for Italian citizens could be increased to 70.
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Bank of England warns companies on pensions
UK – The Bank of England has warned that companies risk losing staff if they cut pension provision or reduce pay to finance pension fund shortfalls.
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UBS GAM says its institutional margins rise
SWITZERLAND – The margins on UBS Global Asset Management’s institutional business rose to 35 basis points in the second quarter, up from 29 basis points in the first quarter of the year.
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BAA scheme in partial shift to enhanced indexing
UK – The pension scheme of international airports group, BAA, has moved some of its portfolio out of a passive strategy into an enhanced index strategy.
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Watson sees higher contributions, lower benefits
UK – Watson Wyatt has found that that many companies in the UK are raising member contributions and cutting benefits to cut pension costs.
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Sweden’s SEB posts E287bn profit as AUM rises
SWEDEN – SEB Group has announced net profit of 2.64 billion Swedish crowns (287 million euros), and an increase in assets under management for its fund units.
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Allianz: still no asset management profits
GERMANY – Allianz Group’s asset management business is still unprofitable, despite increasing its assets by 3.1% over the first half of this year to 1.02 trillion euros.
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Hedge fund assets now almost $665bn – report
GLOBAL – Hedge fund assets are now almost 665 billion dollars, a record, according to Hedge Fund Research.
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Watson Wyatt Co. reveals “billing irregularities”
US – The US arm of pension consulting firm Watson Wyatt has postponed its fourth-quarter earnings report after disclosing “billing irregularities”.
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SGAM UK’s new CEO confident going forward
UK – SGAM UK’s new chief executive, Keith Percy, says he is confident that the changes made to the UK equity team are working, and that consultants and clients will stand by them.
