All IPE articles in December 2003 (Online) – Page 4
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UK’s Brown mulls real estate investment trusts
UK – Chancellor Gordon Brown says he plans to consult on ways to encourage real estate investment trusts.
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Scandinavian fund tenders E326m via IPE-Quest
SCANDINAVIA – A Scandinavian pension fund has tendered a mandate for around 400 million dollars (326.7 million euros) in North American equities via IPE-Quest.
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CSAM sees solid returns from UK real estate
UK - UK commercial property will continue to provide solid returns next year, according to Credit Suisse Asset Management.
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Hewitt finds firms wary over governance
EUROPE - Nine out of 10 European companies are against EU legislation on corporate governance, according to a poll by Hewitt Associates.
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State Street hires former Xerox pensions chief
UK – State Street Corp. has hired Tony Phillips, the former director of pensions at Xerox, to be head of its London-based consultant management team.
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AP1 hires Mercer, ORTEC/Towers Perrin
SWEDEN – The first Swedish buffer fund the 127 billion-crown (13.7 billion-euro) AP1 has tapped Mercer and ORTEC/Towers Perrin as strategic advisors.
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Germany: Bafin in late trading talks with Hansa
GERMANY - German regulator Bafin has talked to asset manager Hansa Invest over late trading.
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Norway’s Petroleum Fund “not enough” - IMF
NORWAY – The International Monetary Fund says Norway’s 803 billion-crown (99.4 billion-euro) Petroleum Fund “will not be enough” to cover future pension needs.
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Somerset awards E143m in fixed income to F&C
UK – The 600 million-pound (867 million-euro) Somerset County Council Pension has awarded a 100 million-pound (143 million-euro) UK fixed income mandate to F&C Management.
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Pictet says it plans to open Paris office
FRANCE – Pictet says it plans to open a branch office in Paris on January 5.
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Nordic SRI firm GES blacklists BASF, Nomura
GLOBAL - BASF and Nomura Holdings have been placed on an investment blacklist by Nordic SRI consulting firm GES Investment Services, for violating international ethical business guidelines.
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Watson Wyatt names head of UK investment strategy
UK - Watson Wyatt has appointed Chris Ford to the new role of head of investment strategy in the UK following a three-year secondment in the US.
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UK funds return 14.1% in 10 months - HSBC
UK – New data from HSBC Actuaries and Consultants puts UK balanced pooled pension funds’ average return at 14.1% for the first 10 months of 2003.
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ABN Amro boosts currency overlay team
GLOBAL – ABN Amro says it has hired James Binny as director of FX analytics and risk advisory for Europe as it responds to increased currency overlay demand from pension funds.
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ECB says pension funds’ shift to bonds continues
EUROPE – The European Central Bank says pension funds and insurers in the euro area are still shifting out of equities and into fixed income and mutual funds.
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Irish regulator signals more flexible stance
IRELAND – The Pensions Board has relaxed its stance on pension funding – a move the Irish Association of Pension Funds has welcomed.
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SWIP names Bolton as head of European equities
UK - Scottish Widows Investment Partnership has named Nigel Bolton as head of European equities.
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Portuguese returns seen at 6.9% for year so far
PORTUGAL – Watson Wyatt estimates Portuguese pension returns at +6.9% for the first 11 months of the year.
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Pension funds cool on new Dutch code
NETHERLANDS – The new Tabaksblat corporate governance code has received a mixed response from pension fund bodies.
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SSGA’s Brown rounds on actuaries, managers, trustees
UK - Alan Brown, chief investment officer of State Street Global Advisors, is the latest figure to take on what he calls the “villains” of the pensions industry.
