All articles by Helen Avery – Page 28
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Features
Date with EM debt
Question: “Which asset class returned 15.1% during the last year, 11.3% per year for each of the last two years, and 13.2% per year for the 11 years from March 1992 until March 2003?” (Merrill Lynch). Answer: Non-G7 sovereign debt. Sound appealing? Possibly. Now if we said those returns were ...
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News
GMO announces mandate wins worth E229m
UK – UK equities are now at “fair value,” says fund manager GMO, which adds it has won six UK equity mandates worth 160 million pounds (229 million euros) this year.
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Multinational in small-cap tender via IPE-Quest
EUROPE – A large multinational company with close to 30 funded pension schemes worldwide has put out to tender two small cap mandates via IPE-Quest.
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Mellon tops new UK fund accounting survey
UK – Mellon European Fund Services has been named top in the UK market for fund accounting and investment administration in the first survey of its kind by London-based R&M Consultants.
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ISIS sees asset management consolidation
EUROPE – “Active managers are competing for a smaller share of the pot”, but specialists and large managers will be the winners, says ISIS’s chief executive, Howard Carter.
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LGIM wins E394m Highland Council mandate
UK – The Scottish Highland Council pension fund has moved 272 million pounds (394.6 million euros) formerly managed by Rothschild Asset Management to Legal & General Investment Management following the acquisition of Rothschild AM by HBOS’s fund management arm, Insight Investment Management.
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UK local authorities “have E21.7bn pension gap”
UK – UK local authority pension funds have a 15 billion pound (21.7 billion euro) deficit under the new FRS17 accounting rules, according to an actuarial consultancy.
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Germany: Riester could become compulsory
GERMANY – A top advisor to the German government on welfare reform has said he wants the Riester-Rente private pensions products to be made compulsory if they don’t take off within the next two years.
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Strathclyde in E1.52bn bond, equity tender
UK – The five billion pound Strathclyde pension fund has put out two tenders of up to 1.05 billion pounds (1.52 billion euros) following an asset liability study.
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Ex-PM Juppe backs French pension reform
FRANCE – Former prime minister Alain Juppe has praised the French government’s handling of the pension reform.
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New data shows UK pooled funds down 4.4%
UK – UK pooled balanced pension funds’ median returns for the first quarter were –4.4%, according to research from Russell/Mellon CAPS.
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French unions set date for pensions strike
FRANCE – France’s six biggest unions have named Tuesday May 13 as the day on which they will strike in protest against the government’s proposed pensions reforms.
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Pension funds targeted with new SLAM fund
UK – Swiss Life Asset Management UK is targeting pension funds wishing to gain global exposure to equity markets outside the UK with the launch of a new fund.
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French asset managers increase SRI capability
FRANCE – French investment firms are rapidly expanding their socially responsible investment management capabilities, reveals a study by SRI information provider Novethic and consultant Amadeis
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UK’s BoS restructures e1.73bn pension fund
UK – Edinburgh Fund Managers and Baring Asset Management have lost their mandates for the Bank of Scotland’s 1.2 billion pound (1.73 billion euro) pension scheme as a result of a complete restructuring of the fund.
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UK pooled fund woes continue - HSBC
UK – Pooled fund returns for the first quarter of 2003 “offer little consolation for pension scheme trustees” says HSBC’s actuarial consulting arm.
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UK’s Railpen taps Mellon for accounting services
UK – The investment arm of the UK Railways Pension Trustee Company, Railpen Investments, has appointed Mellon European Fund Services to provide investment accounting services.
