All IPE articles in December 2003 (Online) – Page 6
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News
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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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UK - The 3.1 billion-pound (4.4 billion-euro) Unilever pension fund has withdrawn a 275 million-pound mandate from troubled Putnam Investments, embroiled in the US market timing scandal.
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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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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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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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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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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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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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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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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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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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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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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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Moody’s says Dutch savings to offset ageing
NETHERLANDS – Moody’s Investor Services says the size of private retirement savings will help offset the problems of an ageing population in the Netherlands.
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Ex-Siemens Scherkamp sets up own firm
EUROPE - Peter Scherkamp, the former head of finance strategy at the Siemens pension fund, has returned to the pensions advisory business.
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BoNY undergoing “branding exercise”
EUROPE – The Bank of New York says it is undergoing a branding exercise to raise its profile.
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Netherlands’ Rutte proposes pension boards
NETHERLANDS - The Dutch minister for social security, Mark Rutte, has put forward the idea of setting up boards of commissioners at pension funds – though there is to be no change to the PVK.
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FEFSI data reveals pick-up in equity funds
EUROPE - New data from the European investment fund body FEFSI show that equity funds rose in the third quarter.
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Two top executives leave State Street
EUROPE – Two top executives – UK investor services’ Richard Fodder and Luxembourg funds’ Thierry Logier - have left State Street.
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DrKW launches index research product
GLOBAL – Dresdner Kleinwort Wasserstein, the investment banking arm of German insurer Allianz, has launched a new index research product.
