All IPE articles in December 2001 (Online) – Page 2
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News
Irish budget heralds pension scheme tax cuts
IRELAND – The Irish government has announced tax cuts on occupational pension schemes and a rise in the state pension in its 2002 budget....
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European Union adopts new UCITS directives
EUROPE – ECOFIN, The European Council of Finance Ministers has adopted the two European Directives to expand the market in unit trusts and UCITS (Undertakings for Collective Investments in Transferable Securities)....
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UK DB scheme closures double in one year
UK – The number of companies that have closed their defined benefit (DB) schemes to new members has more than doubled over the last year, according to the National Association of Pension Funds’ (NAPF) annual survey of UK pension funds....
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PGGM announces new 'Careon' insurance arm
NETHERLANDS – The e48bn PGGM pension fund for the Dutch healthcare sector has re-branded its insurance division as Careon, in line with legislation to come into the Netherlands from January 1 next year....
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IAPF sets up special Irish pensions tax seminar
IRELAND – The Irish Association of Pension Funds (IAPF) has organised a special seminar of Irish pensions experts to take place this month in order to discuss the problem of taxation and retirement provision....
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BVCA initiates 'valuation' working party
UK/EUROPE – The British Venture Capital Association (BVCA) has set up a working party to examine issues surrounding valuation guidelines, consulting widely across Europe with member firms, investors, the European Venture Capital Association (EVCA), and the accounting profession amongst others....
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Mercer signs up AXA institutional chief as partner
UK/EUROPE - Kathryn Matthews, the former global head of institutional business at AXA Investment Managers, has joined consultants William M. Mercer as a senior consultant and European Partner.....
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AMEX announces new fund of hedge funds
US/SWITZERLAND – American Express Bank (AEB) has launched its third fund of hedge funds, the global market neutral conservative fund of funds portfolio....
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Julius Baer appoints new CFO
SWITZERLAND - Julius Baer has appointed Rolf W. Aeberli as chief financial officer (CFO) to the group’s executive board, with effect from March next year....
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Vanguard hires Dutch pension fund manager
BELGIUM/NETHERLANDS – Brussels-based Vanguard Investment Europe has made a sortie into the Dutch pensions market to recruit a new marketing executive with the hire of Olof Könst, a fund manager from Rijswijk-based metalworkers fund managers, MN Services....
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Unilever/Merrill judge warns on cost of litigation
UK – The judge presiding over the Unilever/Merrill Lynch court case, which was settled out of court today, has warned city firms and commercial entities embarking on such high profile litigation to consider the consequences of putting such cases before the high court without full and proper mediation....
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ECJ starts cross-border pensions tax hearing
FINLAND/EUROPE – The first cross-border pensions court case to be considered by the European Court of Justice (ECJ) following the publication of EC internal market Commissioner Frits Bolkestein’s communication on tax for cross-border pension arrangements, had its first hearing before the ECJ today.....
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News
Unilever and Merrill Lynch settle out of court
UK - Merrill Lynch and the Unilever Superannuation Fund (USF) have reached an undisclosed out of court settlement in their high profile £130m (e210m) court battle over the management of some £1bn in Unilever pensions money during the 1990’s by Mercury Asset Management (MAM) – now owned by Merrill.
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News
Europe's pension providers need to get aggressive
EUROPE –European pension providers need to be more aggressive if they are to reap the rewards of the growth in the market brought on by the switch from public to private retirement provision, warn Goldman Sachs (GS) and Deloitte Consulting (Deloitte) in a new report....
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News
First full details of huge $8bn fixed-income RFP
NORWAY - The NOK547bn (e68bn) Norwegian Government Petroleum Fund has issued one of the world’s largest ever fixed-income RFPs seeking 14 mandates for between $5-8bn of assets, with the initial tender process being run through the IPE-Quest electronic manager selection system.....
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Swiss regulator in new year shake-up
SWITZERLAND - Daniel Stufetti, head of the Swiss Federal Bundesamt für Sozialversicherungen – the department in charge of social security and pension fund law - is to resign at the end of the year, with the organisation itself set for re-organization....
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INVESCO cleans up with Twyford Bathrooms mandates
UK - INVESCO Pensions has been awarded a three-part mandate by Twyford Bathrooms, following the establishment of new pensions arrangements for Twyford’s 900 plus employees after its recent acquisition by the Sanitec Group....
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News
Parallel in Spanish venture capital tie-up
SPAIN/UK – London based private equity investment managers, Parallel Ventures Managers (Parallel), has moved into the Spanish market with the announcement of a new link-up with Spanish private equity investment and advisory firm, Excel Partners....
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News
UK needs to slash pensions regulation, says SPC
UK – Substantial volumes of legislation will need to disappear if the simplification of UK pension schemes, currently under review by Alan Pickering for the UK government Department of Work and Pensions, is to be in any way successful, warns the Society of Pension Consultants (SPC).....
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Dutch player KAS wins first UK custody mandate
UK/NETHERLANDS – The London office of Dutch custodian bank, KAS Associatie (KAS), has won its first UK custody mandate with the brief to provide services for a UK equity portfolio of the £145m (€233m) Norwest Holst Group staff pension scheme....
