All IPE articles in August 2004 (Online) – Page 9
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News
Asset manager hires pension fund
UK – Asset management firm AXA has tapped pension scheme-owned Hermes to run a set of passive funds.
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Northern taps Mellon's Hamilton for fund role
UK - Northern Trust has hired Mellon’s Karen Hamilton as vice president and product development manager for its Global Fund Services arm.
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ABN Amro's institutional AUM fall
EUROPE – Institutional assets under management at ABN Amro’s asset management arm have fallen to around 86.3 billion euros at the second quarter from almost 88 billion euros at the first quarter of 2004.
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Mellon to buy currency management firm Pareto
GLOBAL – Mellon Financial Corp. is to buy the 70% of currency management firm Pareto Partners that it does not already own for an undisclosed sum.
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FEFSI rejects legal action on pension directive
EUROPE – European investment fund association FEFSI says it doesn’t intend to take legal action over the European pension directive – despite earlier saying the directive is discriminatory.
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UK Ombudsman critical of government
UK - The UK’s Pensions Ombudsman has strongly criticised the lack of support his office is getting from the government
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News
Deutsche Post uses share-sale cash for pensions
GERMANY – Logistics company Deutsche Post says it will use the proceeds of its recent initial public offering to cut its pension obligations.
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KPMG granted leave to appeal pensions ruling
UK – Consulting firm KPMG says it has been granted leave to appeal a High Court ruling that said its closed pension scheme is defined benefit not defined contribution.
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News
Janus says client to withdraw $5bn
US – An unnamed client is to pull five billion dollars (4.1 billion euros) from Janus Capital by the end of the year.
