Investor Strategy – Page 224
-
News
Stopford promoted to Investec fixed income top slot
UK - Investec Asset Management has promoted the head of its South African fixed income team, John Stopford, to head up the firm’s fixed income business.
-
News
AP3 switches US equity portion to Asia-Pacific region
SWEDEN –Sweden’s third national pension fund, AP3, has reduced the size of its 24.7 billion Kronor (2.6 million euros) US mandate by 2.5% of the total portfolio to boost a 930 million kronor (100 million euros) Asia Pacific exposure.
-
News
VB may take government to court over Staatsen
NETHERLANDS - The VB, the Dutch Association of Industry-wide Pension Funds, says it may have to take the Dutch government to court if it decides to introduce a form of quantitative investment restrictions for Dutch pension funds as part of the findings of the Staatsen Commission.
-
News
Northern Trust hires Gartmore’s Harper
UK – Northern Trust Global Investments has hired Gartmore’s Kate Harper as a director of institutional sales.
-
News
EU expansion to boost private equity – EVCA
EUROPE – The expansion of the European Union at the start of May is being seen as providing a boost to the European venture capital and private equity business.
-
News
Luxembourg’s EFA “positioned for pensions”
LUXEMBOURG – Fund firm European Fund Administration says it is now “ideally positioned” to support the European pension market.
-
News
KBC sells Polish pension fund to PTE Polsat
POLAND - Kredyt Bank, the Polish unit of Belgian financial holding company KBC, has decided to sell its pension business to competitor PTE Polsat for an undisclosed price.
-
News
New Italian fund Fondapi seeks asset managers
ITALY – Fondapi, the newly licensed pension fund for small and medium companies, is looking for three asset managers for a total of 56 million euros in mandates.
-
News
Royal Bank shifts to specialists in revamp
UK - The Royal Bank of Scotland has hired seven new specialist asset managers in a revamp of its 12 billion-pound (18 billon-euro) pension fund that was previously exclusively managed by Gartmore and Newton.
-
News
KAS Bank reduces staff by five in 2003
NETHERLANDS – Dutch custody services group KAS Bank reduced its staff levels by five in 2003.
-
News
Investment Solutions nabs Maiden DB brief
UK – Media owner Maiden Outdoor awarded multi-manager Investment Solutions a 10 million-pound (14.8 million-euro) global mandate to manage British Transport Advertising’s closed defined-benefit pension fund.
-
News
Airbus selects Invesco for employee pre-pension accounts
GERMANY- Aircraft manufacturer Airbus Deutschland has appointed Invesco Asset Management to administer and manage Lebensarbeitszeit-Konten or working-life accounts for its 18,000 employees.
-
News
Winterthur boosted by pension rate cut
SWITZERLAND – Winterthur’s Swiss life unit swung to profit in 2003 – aided in part by a controversial reduction in the minimum interest rate on second-pillar pension schemes to 3.25% from four percent.
-
News
European investment funds rise 12% - FEFSI
EUROPE – The combined assets of the European investment fund market rise by 12% in 2003, said industry body FEFSI.
-
News
State Street joins equity trade platform E-Crossnet
EUROPE – State Street Corp. has become a participant and shareholder in the European equity trading platform E-Crossnet.
-
News
S&P to shift US indices to ‘free float’
US – Standard & Poor’s is to change its US indices so they more closely reflect the amount of shares available to investors.
-
News
Ethix in talks with institutions, Wassum tie
SWEDEN – Socially responsible investing consultant Ethix has confirmed it may sell a stake to institutional investors – and that it has entered a cooperation with Hewitt affiliate Wassum.
-
News
State Street Jersey fund executive joins ING unit
JERSEY – The head of operations at State Street’s Jersey fund administration unit, Graeme McArthur, has joined ING’s Baring Financial Services Group.
-
News
Hewitt calls for delay to UK pension tax reform
UK – Hewitt Bacon & Woodrow has called for the planned implementation of UK pension taxation reform to be put back a year.
-
News
Spain brings pension law in line with directive
SPAIN – The Spanish parliament has passed an amendment of the law regulating pension funds, the Reglamento de Planes y Fondos de Pensiones, to bring it into line with the European Union’s pension directive.
