All IPE articles in August 2003 (Online) – Page 7
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Top UK companies’ pension deficit “doubles”
UK – The combined pension deficit of the UK’s top companies has more than doubled, to 55 billion pounds (78 billion euros), says actuaries Lane Clark & Peacock.
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Bank of Ireland AM wins E922m in new mandates
IRELAND – Bank of Ireland Asset Management UK has announced it has won equity mandates in excess of 650 million pounds (922 billion euros) so far this year.
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Schroders’ institutional sales head joins PIMCO
UK – PIMCO has hired Paul Craven, the former head of UK institutional sales at Schroders.
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Polish parliament approves pension reform
POLAND – In the face of a mixed response from the industry, the Polish parliament has approved a package of reforms that includes capping fees.
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Public pension governance “hindered” - study
GLOBAL – Public pension governance is being hindered by not being able to benefit from the lessons learned in the private sector, according to a new study by the World Bank.
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European commercial property “slowing down”
EUROPE – Commercial property investment in Europe is slowing down and will be about 10% less than in 2002, according to Jones Lang LaSalle.
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Netherlands’ SCGOP to hold governance symposium
NETHERLANDS – The Dutch corporate governance foundation SCGOP is to hold a symposium on corporate governance later this month.
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Gartmore taps J P Morgan for custody
UK – Gartmore Group has appointed J P Morgan Investor Services as global custodian for the Gartmore Funds’ 16 billion dollars (14 billion euros) in assets.
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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.
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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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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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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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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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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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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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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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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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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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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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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.
