All IPE articles in August 2004 (Online) – Page 6
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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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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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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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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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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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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 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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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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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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Invesco German economist Kraemer joins HVB
GERMANY- Invesco Asset Management Deutschland’s Joerg Kraemer is to leave the company to join Munich-based HypoVereinsbank.
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AP2 working on new strategic portfolio
SWEDEN – Andra AP-fonden, the second Swedish buffer fund, is developing a mathematical model with a view to developing a new strategic portfolio.
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Citigroup outlines plans for global property arm
GLOBAL - The new chief executive of Citigroup’s real estate arm has outlined its plans to create a “top tier” global real estate investment management business in an interview with IPE Real Estate.
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Ex-NAPF chief Murray joins EPIC consultancy
UK – Peter Murray, the former chief executive of the Railways Pension Trustee Co Ltd. And chairman of the National Association of Pension Funds, has joined EPIC Investment Consulting.
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Call for cut in German civil service pensions
GERMANY- The head of the employers’ association the BDA, Dieter Hundt, has called for civil servants’ pension privileges, which can be twice as much as other workers’, to be cut.
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Ireland says sensible finances key for pensions
IRELAND – The Irish finance ministry says sensible management of public finances is key for pensions as the country faces up to population ageing.
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Pensions accounting debate set to run – JLT
GLOBAL – Imminent agreement in the heated debate over accounting standards for pensions is unlikely, says a top consultant at Jardine Lloyd Thompson.
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Mercer aids London councils’ alternatives move
UK - The pension funds of the London Boroughs of Islington and Brent are considering getting into alternative investments such as real estate, private equities and hedge funds – aided by consulting firm Mercer.
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Benelux private equity market at zero – report
BENELUX – Fundraising in the private equity market in Benelux, valued in billions of euros at its peak a few years ago, saw zero activity in 2003 a new report says.
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Commerzbank reorganises consultant relations
GERMANY - Commerzbank has reallocated responsibilities for consultant relations to give a larger share to its London-based subsidiary, Jupiter Asset Management.
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Swedish equities boost AP1’s returns
SWEDEN – The 16 billion-euro Swedish buffer fund Första AP-fonden returned 5.5% in the first half of 2004 - on par with its strategic index - boosted by a 17% return on Swedish equities.
