All IPE articles in August 2004 (Online) – Page 4
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ING eyes managers after pulling $5bn from Janus
GLOBAL – ING says it will place the five billion dollars (four billion euros) it plans to pull from Janus Capital Group with other US-based investment managers.
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German management fees vary widely – survey
GERMANY - The fees asked for active management in Germany can vary by over 800%, according to a survey by GSC-PPCmetrics Investment Consulting AG.
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UK at odds with Watson over liability estimate
UK – The UK government says it takes issue with Watson Wyatt’s estimate that the UK’s unfunded public sector pension liabilities are almost 600 billion pounds (888.8 billion euros).
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EU Court “innovative” on pensions - ILO
EUROPE – The International Labour Organisation says the European Court of Justice’s work on pensions has been “innovative” – but says more is needed to make equal pension provision a reality.
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UK pension tax-relief move hits dividends – BOE
UK – The controversial removal of tax relief on dividend payments to pension funds is estimated to have cut company dividends by 31%, according to a Bank of England study.
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Insight hires ex-Smith Barney equity chief
UK - Insight Investment says it has hired the former head of global equity strategy at Citigroup's Smith Barney, Matthew Merritt, as head of strategy, a new role.
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Italian ministries set up pensions database
ITALY - The welfare and economy ministries are poised to create a new central archive to comprise information about employees and professionals required by law to join compulsory insurance or pension schemes, Ccppa.
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Irish reserve fund plans E400m real estate move
IRELAND - The 10 billion-euro National Pensions Reserve Fund has appointed F&C’s Ian Gleeson as property manager to oversee a planned 400 million-euro real estate allocation.
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Half of UK schemes eye hedge funds - survey
UK - Nearly half of UK pension funds are either already, or are considering, investing in hedge funds, according to a survey by UniCredito’s Pioneer Alternative Investments.
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Hermes’ Macdonell joins Northern Trust
UK - Northern Trust Global Investments says it has hired Hermes Focus Asset Management’s manager of UK investments, Helen Macdonell.
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Danica moves into equities as returns slip
DENMARK – Danica Pension, the life insurance and pension arm of Danske Bank, made a return on investments of 2.7% in the first half of 2004 - down from 4.8% a year before.
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KLP sticks with bonds as profit slumps
NORWAY – Pension provider KLP, reporting a 62% slump in quarterly profits, says it is sticking with its substantial bond portfolio.
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Ex-Singer & Friedlander chief joins hedge fund
UK – Former Singer & Friedlander institutional head Peter Dencik has joined hedge fund group Key Asset Management as chief executive.
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E1.2bn county council Warwick revamps
UK - The 800 million-pound (1.18 billion-euro) Warwickshire County Council Pension Fund has reshuffled its asset managers in a revamp.
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European fund managers turn bearish - survey
GLOBAL- European fund managers have succumbed to the same bearishness as their colleagues worldwide, Merrill Lynch’s monthly survey of fund managers has found.
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Henderson makes institutional, consultant hires
UK - Henderson Global Investors has made two new hires, boosting its institutional and consultant relations activities.
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Jardine Lloyd names Scotland benefits head
UK - Jardine Lloyd Thompson has named Eddie McGuire as managing director of its Glasgow-based Scottish benefits unit, JLT Benefit Solutions Scotland, a new role.
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UK pension assets rise 16% to E1tn – report
UK – Pension fund assets in the UK have risen 16% to 709 billion pounds (1.06 trillion euros) as at the end of 2003, according to a new report.
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Italy: retirement claims fall after tax change
ITALY - The number applications to retire has dropped by nearly 10% in the first six months of 2004 following the introduction of a 33% tax-free bonus for older employees who chose to keep working.
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ABP pre-pensions under scrutiny
NETHERLANDS – Questions over Stichting Pensioenfonds ABP’s pre-pension arrangements have been raised by two Dutch Members of Parliament.
