All IPE articles in December 2002 (Online) – Page 2
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News
Green Paper passes UK actuary test
UK – The Association of Consulting Actuaries (ACA) has welcomed many of the proposals put forward by the UK government in its Green Paper.
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Neptune launches European opportunities fund
UK – The Neptune European Opportunities Fund investing in a concentrated portfolio of 40 to 50 European stocks has been launched by Neptune Investment Management, formed earlier this year by Robin Geffen.
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UK pension projections too optimistic, says S&P
UK – Standard and Poor’s today claimed that the UK government has been far too optimistic in its public pensions projections on the back of the publication of the pensions Green Paper yesterday (December 18).
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Consultants cautious welcome for pension tax plans
UK - The simplification aspects of the proposed pension tax changes announced by the Treasury this week have been welcomed by international consultants Mercers.
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Denmark's e20.5bn PFA seeks sound property deal
DENMARK – The e20.5bn PFA pension fund has agreed to buy the Copenhagen Radiohuset – the home of Danish broadcasting – in a deal for an undisclosed sum from Danish property company, Sjaelsø Gruppen.
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TUC demands seat on UK Pension Commission
UK - The UK Trades Union Congress (TUC) has called for the government to include it in the line up of a new Pension Commission that will look at the issue of compulsory supplementary pension saving....
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Germans lose patience with pension payment rises
GERMANY – A New Year rise in individual social security contribution rates to enable Germany to meet its pay-as-you-go (PAYG) first pillar pension commitments is dominating the political landscape as 2002 comes to a close, according to a report by Bayerische Landesbank.
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UK's Oxford Council tenders five mandates
UK – Oxfordshire County Council has put five mandates out to tender for management of its pension fund. The combined total of assets involved is 495 million pounds (772.5 million euros).
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SEB names Lager to head mutual fund unit
SWEDEN – SEB Asset Management has named Cecilia Lager as head of its mutual fund arm, SEB Fonder, replacing Jan Palmberg who is moving to another role within SEB.
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Fund managers positive on economy, profits
EUROPE – Euro-zone fund managers are positive about the prospects for the region’s economy in 2003, with a majority thinking the European equity market is undervalued – according to a new survey by Merrill Lynch.
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Credit Suisse Asset Mgmt reorganises management
GLOBAL – Credit Suisse Asset Management has made a series of organisational changes, including the formation of a global executive committee and a reduction in the number of operating regions in a bid to bring the company in line with the Credit Suisse group.
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News
EU issues draft report on sustainable pensions
EUROPE – The European Commission says most member states will have to make further reforms to guarantee adequate pensions in an ageing society.
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EU Sustainable Pension Report: Country Analysis
EUROPE - The European Commission’s draft report (see separate story) on sustainable pensions provisions in Europe includes an analysis of the pensions system in each member state, the main conclusions of which are summarised below.
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Hermes governance fund wins $100m Calpers backing
EUROPE/US – Calpers, eyeing a “tremendous opportunity”, has approved a 100 million dollar investment in a Hermes corporate governance fund which targets underperforming companies.
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Allianz chief Schulte-Noelle to step down
GERMANY – Beleaguered insurer Allianz AG says the chairman of its management board, Henning Schulte-Noelle, is to resign and be replaced by Michael Diekmann, a board member who is currently head of insurance activities in North and South America.
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UK Green Paper: key points and industry reaction
UK – The government’s pension reform proposals were released today and provided no surprises, though on balance the reaction from pensions experts, unions and financial associations was on the positive side.
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Denmark’s PFA: Danner judgement not so important
DENMARK – The 20.5 billion euro Danish PFA pension fund has said that - despite newspaper reports - the recent judgement in the Danner case will not have a drastic impact on the Danish pensions market.
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Marchand to head Norway’s Statens Pensjonskasse
NORWAY – The Norwegian government has appointed a new head for the State Public Sector Pension Fund, Statens Pensjonskasse. Gisele Marchand has been named as director for a six-year term.
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European pension fund contributions reach e84bn
EUROPE – Total contributions to pension funds in European Union member states rose 62% to 84 billion euros over the 1997-2000 period, says the EU’s statistics office.
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J P Morgan wins Oppenheimer custody mandate
UK/US - J P Morgan Investor Services says it has been awarded a mandate to provide a “wide range of services” to OppenheimerFunds Inc.’s mutual fund assets – though it declined to say how much the deal was worth.
