All IPE articles in August 2004 (Online) – Page 3
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IPE-QUEST: Multi-manager tenders US small-caps
EUROPE - A European multi-manager is looking for asset managers for actively managed US small-cap growth and small-cap value mandates.
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Aon says consulting revenue rises 4% to $305m
GLOBAL – Chicago-based Aon Corp. said its total second-quarter consulting revenue rose four percent to 305 million dollars (249 million euros).
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AXA’s asset management earnings up 38%
GLOBAL – AXA’s asset management earnings, adjusted for currency effects, rose 38% to 136 million euros in the first half of 2004.
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Punter Southall names Batting as chief executive
UK – Actuarial consultancy Punter Southall & Co. has named John Batting as chief executive and Elizabeth Battams as managing director.
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Court threat over Austrian pension harmonisation
AUSTRIA – The opposition has threatened legal action in the latest twist to the harmonisation of the Austrian state pension system.
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France’s Pro-BTP eyes new scheme
FRANCE – Construction industry scheme Pro-BTP is in the process of setting up new forms of savings based on the principle of capitalisation.
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Ireland says PRSA assets top E83m
IRELAND – The total asset value of the new Personal Retirement Savings Accounts is now 83.6 million euros, says the Pensions Board.
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Italy lays out pension reform plans
ITALY - The Italian government is set to pave the way for the implementation of the pension reform approved by parliament last week.
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Fortis hires fund exec from Ernst & Young
EUROPE - Fortis Bank has appointed Ernst &Young’s Jimmy Donnelly as senior business development manager at its Prime Fund Solutions arm.
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Germany’s Ruerup sceptical on Austria reform
AUSTRIA - Bert Ruerup, who headed Germany’s pension reform commission, has said Austria’s special pension regulations for workers with heavy manual jobs violated “the spirit of national insurance”.
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Consultants should stick to consulting – survey
UK – More than two-thirds of respondents to a new survey of occupational pension funds in the UK say that investment consultants should not offer asset management services.
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IPE-QUEST: Pensioenfonds Metaal tenders 2 briefs
BELGIUM -Pension Fund for Metal-working and Mechanical Engineering workers, Pensioenfonds Metaal, has tendered two active specialist mandates through IPE-Quest.
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Zurich fund CSIF postpones independence
SWITZERLAND – The continued coverage deficit at the 16.95 billion-franc (11 billion-euro) Canton of Zurich Civil Service Insurance Fund means its planned independence has been postponed, possibly for years.
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KPN says funding pension deficit a factor
NETHERLANDS – Dutch telecoms firm KPN, which is raising its pension schemes’ equities exposure to boost returns, said the possible funding of its 350 million-euro pension deficit will be a factor in its profitability.
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UK consults on pension tax simplification
UK – The Inland Revenue, the UK’s tax agency, is consulting on the planned simplification of pension taxation – and has announced some “substantive” changes to provision of information regulations.
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SEI names European institutional sales director
EUROPE - SEI Investments named 10-year company veteran Greg Rodgers to the new role of director of institutional sales for continental Europe.
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French SRI market enters maturity – Novethic
FRANCE - The French Socially Responsible Investment market has entered a “first phase of maturity” after recording 75% growth in 2004, said Caisse de Depots subsidiary Novethic.
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UK public pension liabilities estimated at E862bn
UK – Consulting firm Watson Wyatt has estimated the UK’s unfunded public sector pension liabilities are around 580 billion pounds (862 billion euros).
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Eurostat admits difficulty of pensions taxation
EUROPE – The European Union’s statistical office has admitted that the issue of how to treat pension taxation is difficult on both the conceptual and practical level.
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Germany’s Spezialfonds market up 5% - BVI
GERMANY - The German investment fund industry association says said the volume of funds reserved to institutional investors, Spezialfonds, has grown about five percent since last year, boosted by positive markets.
