All IPE articles in August 2003 (Online) – Page 6
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Danish investment fund assets rise by E605m
DENMARK – Net assets in Danish investment funds increased by 4.5 billion Danish crowns (605 million euros) in the month to the end of July, according to data from the Federation of Danish Investment Associations.
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Brown Brothers Harriman targets European growth
UK - Privately-owned US bank Brown Brothers Harriman says it aims to set up a "direct custody facility" in the UK – as part of a move to boost its presence in Europe.
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France: pensions hit EdF's credit rating
FRANCE – French utility Electricite de France has seen its long-term credit rating downgraded by S&P as a result of its unfunded pensions liabilities.
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AXA backs derivatives for pension funds
GLOBAL – AXA Investment Managers has backed a recent academic study which suggested that pension funds should consider using derivatives.
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Janus names N. Europe institutional sales chief
EUROPE – Janus Capital has named Henrik Rox Hansen as institutional sales director for northern Europe.
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Nordea says hit by “major” mandate loss
SWEDEN – Nordea’s asset management division has been hit by the loss of a “major” institutional mandate.
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KLM says career-average pensions an option
NETHERLANDS – Dutch airline KLM has confirmed that it is discussions with the unions about pensions – and that career-average pensions are on the table.
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UK switch to DC costs staff E2.3bn - report
UK – The switch from defined benefit to defined contribution schemes has cost employees up to 1.6 billion pounds (2.3 billion euros) in pensions contributions a year, according to Close Wealth Management.
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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.
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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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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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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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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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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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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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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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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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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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Hewitt buys Ireland’s Becketts
IRELAND – Hewitt Bacon & Woodrow has bought Irish employee benefits consultancy Becketts, citing “natural synergies”.
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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.
