All articles by Helen Avery – Page 34
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Higgs review gaining support
UK – Much of the criticism of the Higgs Report into UK boardroom management appears to be the result of a lack of understanding - rather than any fault of the proposals themselves.
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NAPF debate: bonds’ role in UK pension funds
UK – Market participants are unconvinced that bonds should be the dominant asset class of UK pension funds – according to a vote following a debate on the issue at the NAPF conference.
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S&P may rate UK pension funds
UK – Ratings agency Standard & Poor’s says it is “kicking around” the idea of rating pension funds.
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Thousands of UK firms don’t provide pensions
UK – At least 25,000 British companies are not providing an employee pension scheme, according to research by AXA Sunlife, UK operating arm of French insurer AXA.
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CDC hires Ofivalmo head for equities
FRANCE – CDC Ixis Asset Management has appointed a former board member of Ofivalmo as its head of European and emerging equity investments.
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BGI unveils corporate bond ETF
EUROPE – Barclays Global Investors is to launch Europe’s first corporate bond exchange-traded fund, through its partner iShares plc.
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European pension gap seen reaching e456bn
EUROPE – A group of Europe’s leading financial services companies has written to the European Council of Finance Ministers, urging them to speed up the creation of a single market in financial services to tackle Europe’s pension crisis.
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Credit Suisse AM names new chief executive
GLOBAL – The asset management arm of Swiss bank Credit Suisse has appointed Michael Kenneally as its global chief executive.
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Mercer consultant named Irish ombudsman
IRELAND – The Irish government has appointed its first pensions ombudsman. Paul Kenny will take on the position in mid-April.
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Danish pension fund tenders mandates on IPE-Quest
DENMARK – A Danish industry-wide pension fund has put out to tender two US equity mandates via IPE-Quest.
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Europe’s pension market “to grow by 7.5% a year”
EUROPE – European second and third pillar pension markets are expected to grow at an annual rate of 7.5% until 2010 - taking assets to 510 billion euros, says Allianz Dresdner Asset Management (ADAM).
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Swiss guaranteed minimum interest rate could fall
SWITZERLAND – The Swiss president has said the guaranteed minimum interest rate of 3.25% may be lowered further.
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UK’s Windsor tenders up to e115m equity mandate
UK – The UK borough of Windsor and Maidenhead is putting out to tender a mandate of between 50 million and 80 million pounds (72-115 million euros) to be invested in global equities for its 800 million pound (1.1 million euro) pension fund.
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Finland’s Ilmarinen taps Aberdeen for property
FINLAND – Finnish pension insurer Ilmarinen has appointed Aberdeen Property Investors to manage an international indirect investment property portfolio.
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Pension schemes changing managers more often
UK – Pension schemes are changing fund managers more often, according to new data from Russell/Mellon CAPS.
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Attica to run e72m McCain portfolio
UK – The McCain Foods pension and life assurance scheme has appointed multi-manager Attica Asset Management to manage its entire portfolio of around 50 million pounds (72.6 million euros) in assets.
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Fortis hires SocGen bond head
FRANCE – Fortis Investment Management has appointed Emeric Challier as chief investment officer of its Euro fixed income investment centre in France.
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Denmark’s ATP cuts equity allocation
DENMARK - ATP, the 250 billion crown (33 billion euro) Danish labour market supplementary pension scheme, returned –3% in 2002 and says it will be decreasing its allocation to equities.
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Germany to end fund discrimination
GERMANY – German finance minister Hans Eichel announced today that as of 2004 foreign funds will no longer be discriminated against, following pressure from asset managers, organisations and the European Parliament.
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UK pension funds “net buyers of equities”
UK – UK pension funds were – perhaps surprisingly - net buyers of equities and net sellers of bonds in 2002, according to data from Russell/Mellon CAPS.
