All IPE articles in December 2002 (Online) – Page 6
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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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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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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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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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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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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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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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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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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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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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Mercer questions UK pensions security
UK – Mercer Human Resource Consulting has questioned the government’s policy on ensuring the security of final salary pension schemes, saying there is incompatibility between the freedom of employers to fund the pension promise and the public’s being encouraged to believe in the promise’s security.
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Skandia sells American arm to Prudential
SWEDEN – Insurer and savings products company Skandia says it has agreed to sell its American arm to Prudential Financial Inc. for 1.15 billion dollars.
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Sweden warns ABN Amro fund unit
SWEDEN – The Swedish financial regulator has warned ABN Amro’s Banco Fonder over violations to investment rules concerning the amount invested in unlisted securities – Banco says it may have mis-read the regulator’s intentions.
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Pension guarantees have economic costs – research
US – New research into personal pensions to be published by the Pension Research Council shows that there is a defined economic cost to pension guarantees, which the researchers say can be likened to a financial asset and priced accordingly.
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Professor calls for higher PAYG basic pensions
UK – A professor at the London School of Economics has called for a “much higher” level of pay-as-you-go state pensions and a ditching of the pretence that pensioners only get back what they put in via the national insurance scheme.
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Europe begins legal process on German funds tax
EUROPE – The European Commission has begun a legal procedure against what it calls Germany’s “discriminatory” tax treatment of dividends from foreign funds.
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Pension fund in e50m equity mandate via IPE
EUROPE – Zurich-based consultant Kottmann Advisory, acting for a pension fund client, has placed a mandate for a 50 million euro equity portfolio via the IPE-Quest site.
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Swiss Life names SNB’s Gehrig as chairman
SWITZERLAND – Troubled Swiss Life Holding has named Swiss National Bank vice chairman Bruno Gehrig as non-executive chairman, replacing Andres Leuenberger.
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UK’s Opra seeks policy officer
UK – The Occupational Pensions Regulatory Authority is seeking a senior policy officer to produce technical guidance and policy briefings.
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Denmark’s ATP names Sondergaard as chairman
DENMARK – Europe’s ninth largest pension fund, Denmark’s Arbejdsmarkedets Tillaegspension, has named Jorgen Sondergaard as its new chairman.
