All IPE articles in December 2002 (Online) – Page 2
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Cariplo pension fund seeks operating consultant
ITALY – Cariplo’s 2.7 billion euro pension fund says it is looking for an operating consultant to assist in its recent decision to outsource part of the fund to external managers.
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Frank Russell bags e125m UK waterways mandate
UK – Multi-manager specialist Frank Russell Co. says it has been appointed by the British Waterways (1990) Pension Fund to manage an 80 million pound (125.6 million euro) equity and bond mandate.
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Deutsche AM loses e566m West Sussex mandate
UK – Deutsche Asset Management has lost a 360 million pound (566 million euro) mandate for the West Sussex County Council pension fund. The balanced portfolio, equating to half the entire fund, will now be managed by Edinburgh-based Baillie Gifford.
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Credit Agricole chairman leaves as BNP ups stake
FRANCE- Crédit Agricole’s chairman Marc Bué has resigned, six months before his term was due to end. In his place the board has elected René Carron, chairman of the French bank’s holding company, SAS La Boétie, and of Fédération Nationale du Crédit Agricole (FNCA).
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UK government to propose simpler pension rules
UK – The UK government says it will propose simpler regulation and better “information flows” in its long-awaited Green Paper on pension reform.
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Belgacom pension fund tenders equity mandate
BELGIUM – The pension fund of Belgian telecoms provider Belgacom SA has put out to tender an international equity mandate.
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European pensions faces new era – State Street
EUROPE – A senior European pension executive says the European pensions industry is on the verge of a new era - though costs are to remain an issue between pension funds and their suppliers.
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Lipper names head of German research
GERMANY – Reuters-owned funds information company Lipper has named Alice Segschneider as its head of research in Germany, a new role.
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RLAM wins e204m mandate at West Midlands
UK – West Midlands Metropolitan Authorities' four billion pound (6.3 billion euro) pension fund has appointed Royal London Asset Management to run a 130 million pound (204 million euro) UK non-government portfolio.
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Daimler's pension deficit larger than forecast
GERMANY – US/German group DaimlerChrysler could be facing underfunded pensions obligations of more than 8 billion euros by the end of 2002, says ratings agency, Standard & Poor’s.
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PwC: Danner case may hinder pan-European pensions
EUROPE – Accountancy firm PricewaterhouseCoopers believes the European Court of Justice’s recent judgement in the Danner case may hinder the prospects of a single European market for pension products by five years or more.
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HBOS confirms e98m acquisition of Rothschild AM
UK – Rothschild’s asset management arm has officially been sold to HBOS’s fund management arm, Insight Investment Management, for 61 million pounds (95.8 million euros).
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Shell sticking with defined benefit plans
UK – The head of investment policy for Shell’s pension funds says the oil company’s pension funds are sticking with defined benefit pension schemes because it suits the organisation very well.
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UK's NAPF names Faulkner chairman
UK – The National Association of Pension Funds has appointed Terry Faulkner to replace Peter Thompson as its chairman, effective from the NAPF’s annual conference in May 2003.
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Diageo's group pensions director Mingle to leave
UK – Global drinks company Diageo’s group pensions and benefits director, Steve Mingle, is to depart at the end of 2002.
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European Q3 investment fund assets fall 5% - FEFSI
EUROPE – The combined assets of Europe’s investment fund market fell 5.2% during the third quarter of the year, according to FEFSI, the pan-European federation of investment managers associations and companies.
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BAA’s pension director declines to follow fashion
UK – The head of the 2.4 billion euro pension scheme for UK airport operator BAA Plc says pension administrators should not follow fashion and try to work out their requirements for themselves.
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HBOS names managers at Rothschild Asset Management
UK – HBOS’s investment arm, Insight Investment Management, has announced its new senior management structure following the acquisition of Rothschild Asset Management this week.
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Chiswell names head of pension fund marketing
UK – London-based investment manager Chiswell Associates has appointed Simon Hill as its new head of pension funds marketing in a push to develop its institutional pension fund business.
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HVB signs up 250 firms to chemical fund
GERMANY – German bank HVB says it has 250 companies signed up to its new pension fund for the chemicals industry – with at least another 100 expressions of interest.
