All IPE articles in December 2004 (Online) – Page 5
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News
Corporate governance index launched
NEW YORK/LONDON – FTSE Group and corporate governance group Institutional Shareholder Services (ISS) today launched the first phase of the joint FTSE ISS Corporate Governance Index (CGI) Series.
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Deutsche Börse’s Clearstream custody assets rise
EUROPE – Clearstream, the custody and settlement division of exchange operator Börse Group, says client assets under custody rose 3.3% in November.
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Early retirement not an option - Belgian official
BELGIUM - The president of Belgian's Senate commission on social affairs has remarked that the early retirement is “no longer an option” for the 'baby boom' generation born after the World War II.
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Mixed response to ETF pensions report
UK -- British trade unions responded to Monday’s employer task force (ETF) report on pensions by calling for compulsion to be part of any long-term solution to the pensions crisis.
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UK ban on forced retirement
UK – British workers can no longer be forced to retire before 65, the British government has said.
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UK managers unveil new hedge and cash funds
UK -- Threadneedle Asset Management is to launch its Threadneedle Global Crescendo Fund towards the end of the first quarter of next year.
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Italy’s Pegaso switches investment strategy
ITALY - The €103m pension scheme for the employees of the gas and electricity industries is looking for seven asset managers as it changes its investment strategy to cater for its members’ different attitudes to risk.
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TUC unhappy at Hewitt’s ‘Trojan horse’
UK -- The UK’s trade union grouping, the TUC, says that it is unhappy with Tuesday's announcement by trade and industry secretary Patricia Hewitt that British workers can no longer be forced to retire before 65.
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Thomas Murray sets up alternatives services unit
UK -- London-based securities services ratings, research and advisory firm Thomas Murray has established an alternatives investments services division, Thomas Murray Alternative Investment Services (TMAIS).
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PwC named to help UK clearance procedure
UK -- The Pensions Regulator Programme has appointed PricewaterhouseCoopers to help develop a clearance procedure to ensure that companies and individuals undertaking legitimate corporate transactions will not fall foul of the ‘moral hazard’ clauses contained in the Pensions Act.
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Electronics firm outsources fund management
UK – Manufacturer Intelek plc has appointed insurer Multi-manager Investment Solutions Limited to manage its closed £9.5m (€13.7m) defined benefit pension fund.
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Dorset County PF names new hedge fund manager
UK -- Dorset County Pension Fund has appointed London and New York-based fund of hedge funds manager International Asset Management (IAM) to manage a diversified portfolio of hedge funds.
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Lancashire CC Pension Fund allocates mandates
UK – The £2.5bn (€3.56bn) Lancashire County Council Pension Fund has appointed two new asset managers and retained two of his previous managers in a revamping of its portfolio. The changes followed an investment strategy review earlier this year.
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No pensions ‘coverage’ in Italian budget - minister
ITALY – Welfare minister Roberto Maroni has criticised the latest draft of the 2005 budget, due to be voted by the Senate tomorrow.
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Akzo Nobel feels IFRS impact
NETHERLANDS - Pharmaceutical giant Akzo Nobel is to write down almost €500m in the new year in order to comply with the new international accounting standard.
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HPM to break chair link with BTPS
UK – Hermes Pensions Management (HPM), the asset management arm of the British Telecom Pension Scheme (BTPS), has announced that from next month it will separate the roles of its chairman and that of chairman of BTPS, which owns 100% of HPM.
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US IT giant EDS to buy Germany’s BHW Invest
GERMANY -- BHW Invest, a German asset manager specialising in the so-called master fund concept, is to be sold to US information technology giant EDS.
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SN says Dutch population ageing rapidly
NETHERLANDS - A quarter of the Dutch population will be over the age of 65 around 2040, Statistics Netherlands has forecast.
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Northern Trust: ‘bond fundamentals remain strong’
UNITED STATES – Chicago-based banking giant Northern Trust sounded an upbeat note on the bond market, saying fundamental averages of bonds remained “strong”.
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Fortis Bank appoints new global head equity finance
NETHERLANDS – Dutch bank insurer Fortis Bank has appointed Andrew Stuart as global head equity finance sales in London.
