All IPE articles in August 2003 (Online) – Page 7
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News
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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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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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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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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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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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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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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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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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.
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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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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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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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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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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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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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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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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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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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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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Jobs go as Cerulli closes London office
EUROPE - Cerulli Associates has closed its London office with the loss of three jobs.
