All IPE articles in December 2003 (Online) – Page 2
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Mellon boosts European transition management
EUROPE - Mellon Global Investments has hired Julie Dickson from Barclays Global Investments to be director of transition management marketing for Europe.
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BNP Paribas AM hires MLIM's Rudigoz
FRANCE - BNP Paribas Asset Management says Olivier Rudigoz has joined its European Equity team as product head for euro equities.
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Germany’s Bafin assessing market timing
GERMANY - German financial services regulator Bafin has taken steps to assess the possible existence of a market timing problem in Germany.
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Watson hires 11 from Bode Grabner venture
GERMANY – Watson Wyatt says it has hired 11 staff for its new German arm from its German joint venture Wyatt Bode Grabner.
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Belgacom pension takeover “ad hoc” - IMF
BELGIUM – The Belgian government’s takeover of the Belgacom pension fund has been criticised by the International Monetary Fund as an “ad hoc” measure which masks the country’s true fiscal position.
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Sweden’s AP7 to take stake in new SRI firm Ethix
SWEDEN - Swedish ethical consulting firm Ethix says it is about to sign a deal that will see AP7 and a number of other institutions take an approximately 50% stake in the firm.
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PGGM names new equities and fixed income heads
NETHERLANDS – The 49.7 billion-euro Dutch healthcare pension fund PGGM, which recently named a new chairman, has named new heads for equities and fixed income.
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Kvaerner taps J P Morgan for hedge mandate
UK – The two billion-euro Kvaerner Pension Fund has awarded a 25 million-pound (35.5 million-euro) hedge fund of funds mandate to J P Morgan.
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DB schemes still growing strong - Mellon
UK - Defined benefit schemes are still going strong, despite the well-publicised drift towards defined contribution schemes.
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Swiss fund tenders E32m via IPE-Quest
SWITZERLAND – A Swiss pension fund has tendered a mandate for enhanced Swiss equities worth 50 million Swiss francs (32 million euros) via IPE-Quest.
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EFRP sees E10bn savings from new pension model
EUROPE – The European Federation for Retirement Provision (EFRP) has unveiled an update to its cross-border occupational pension model, the EIORP, which it says could lead to annual savings for the European pension fund industry of up to 10 billion euros.
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Unilever pension fund withdraws Putnam mandate
UK - The 3.1 billion-pound (4.4 billion-euro) Unilever pension fund has withdrawn a 275 million-pound mandate from troubled Putnam Investments, embroiled in the US market timing scandal.
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TNO puts E30m into hedge funds
NETHERLANDS – The 1.3 billion-euro pension fund of Dutch research institute TNO has allocated 30 million euros to hedge funds, taking the cash out of equities.
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WM says average UK pension fund rises 3.6%
UK - The average UK pension fund rose by 3.6% in the third quarter of 2003 – taking the total return for the year to date to 10.3% - says performance measurement firm WM Co.
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Dutch pension funds support Rutte plan
NETHERLANDS - Dutch social security minister Mark Rutte’s idea of setting up boards of commissioners at pension funds has won funds’ backing.
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Metalektro to allocate E700m to commodities
NETHERLANDS – Metalekro, the 14 billion-euro pension fund for the Dutch metals industry, is to allocate 700 million euros, or five percent of its assets, to commodities.
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CalPERS to put up to $18bn into enhanced index
US – The 155.8 billion-dollar (128.5 billion-euro) US pension fund CalPERS plans to put up to 18 billion dollars into enhanced index investment strategies.
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DeAM says it rejigs UK client team
UK - Deutsche Asset Management has rejigged its UK client relationship team after the departure of Simon Peck and Roger Morris.
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Institutions raising hedge allocation - Edhec
EUROPE - Institutional investors’ allocations to European funds of hedge funds are growing rapidly, according to a study by Edhec Group, one the leading French Business Schools. But high net worth investors still represent the main category of investors.
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State Street unveils ‘virtual’ asset pooling
EUROPE - Global custody group State Street says it is introducing a ‘virtual’ product for multinational pension fund asset pooling.
