All IPE articles in December 2002 (Online) – Page 7
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News
BGI assets slide 17% in nine months
UK – The largest manager of European pension fund assets, Barclays Global Investors, has seen its assets under management tumble by 90 billion pounds - almost 17% - in the first nine months of 2002.
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UK's Shropshire to adopt ISIS's SRI 'overlay'
UK – Shropshire County Council’s 520 million pound (814 million euro) pension fund has decided to adopt a socially responsible approach, adding a socially responsible investment overlay provided by ISIS Asset Management to its 80 million pound (125 million euro) UK index portfolio, currently managed by State Street Global Advisors.
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Fund managers team up against German tax proposals
EUROPE – Eleven US and European fund managers have joined forces to campaign against the German government’s new tax proposals, which they feel discriminate against foreign investment managers.
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Watson Wyatt wary of DC “mis-selling”
UK – Pension consultant Watson Wyatt has called for greater communication about defined contribution pension schemes from employers to avoid the possibility of another pension “mis-selling” scandal.
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Rothschild finds buyer for asset management arm
UK - UK financial services group NM Rothschild is believed to have found a buyer for its asset management business, Rothschild Asset Management. The UK’s fifth largest bank, HBOS Plc, is understood to have entered into exclusive talks to buy the unit for around 100 million pounds (157 million euros). ...
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Rabobank’s Robeco launches Euro Stoxx fund
NETHERLANDS – Rabobank’s asset management division Robeco has launched a new bond and options fund based on the Dow Jones Euro Stoxx index, while closing three other funds.
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Nasdaq launches European-specific ETF
EUROPE – Citing demand from European, and especially German, institutions, US-based stock exchange operator Nasdaq has launched a European-specific exchange traded fund based on the Nasdaq 100 Index.
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Deutsche AM says UK fixed income chief to leave
UK – Deutsche Asset Management’s chief financial officer for fixed income in the UK, Ian Clarke, will be leaving the company, in what is believed to be a mutual agreement between the two parties.
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Aberdeen AM cuts jobs as profits slump
UK – Fund manager Aberdeen Asset Management Plc has cut 88 jobs in a bid to cut costs following a 15% fall in 2002 pre-tax profits which have been hit by a 2.3 billion pound (3.59 billion euro) fall in the value of its funds under management.
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German regulator Bafin to hire UK's Bauer
GERMANY – Bafin, Germany’s Federal Financial Supervisory Authority, is looking to appoint Helmut Bauer, of the UK’s Financial Services Authority, as head of banking supervision at the regulator.
