Investor Strategy – Page 239
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News
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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CoreRatings hires ex-Morley SRI head
UK – Socially responsible investing consultancy CoreRatings, which is part of the same group as Fitch Ratings, has named Anne-Maree O'Connor as its new head of research.
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UK pension trustees set to challenge managers
UK - A survey of pension funds has found that trustees are becoming more likely to question their investment managers over transaction costs and activism.
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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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Unigestion swings to profit, goes private
SWITZERLAND - Swiss alternative investments firm Unigestion – reporting a swing to profit in 2002 - is to take itself into private ownership.
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Dutch pension funds buy e20bn of equities
NETHERLANDS – Dutch pension funds bought eight billion euros worth of bonds and 20 billion euros in equities in 2002, according to government statistics.
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UCITS now 78% of European fund market
BELGIUM – UCITS, or Undertakings for Collective Investment in Transferable Securities, now account for almost 78% of the European investment fund market, according to new data from the European Federation of Investment Funds and Companies, FEFSI.
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UK e1bn council pension fund names actuary
UK – The 700 million pound (1.02 billion euro) Dorset Council Pension Fund in southern England has appointed a subsidiary of South Africa’s Sanlam to provide actuarial services.
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ECB rate cut raises pressure on pension funds
EUROPE – The European Central Bank’s quarter-point rate cut today is likely to increase the pressure on pension funds, analysts said.
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Pioneer to offer hedge funds in UK
UK – Pioneer Investments, UniCredito’s fund management arm, is to offer its range of hedge funds to UK institutional investors.
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Io Investors makes hires in UK push
UK – Manager of managers firm Io Investors, part of South African financial services group Sanlam, has hired Old Mutual’s head of research as part of a UK push.
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"Surprise" UK funds’ bond weighting
UK – UK corporate pension funds were 24% weighted towards bonds in 2002, according to a new survey by insurance broker and employee benefits firm Jardine Lloyd Thompson – it called the findings “surprising”.
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Dutch pension coverage law under scrutiny
NETHERLANDS – Representatives of Dutch employers and employees have written to the government seeking a change in the law regarding pension fund coverage ratios.
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UBS wins top European fund award
LUXEMBOURG – Swiss bank UBS has been named the “best overall” European fund promoter in the second annual European Funds Awards.
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Spanish occupational pension assets up 12.3%
SPAIN – The assets under management at Spanish occupational pension schemes rose 12.31% to 21.15 billion euros at the end of 2002, according to figures released by Inverco, the Spanish association of institutional investors and pension funds.
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London exchange chief slams tax on pension funds
UK – Chancellor Gordon Brown’s five billion pound (7.3 billion euro) tax on dividend income paid by pension funds has been described as a threat to the position of the City of London – the UK’s financial heartland - by London Stock Exchange chief executive Clara Furse.
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Law Debenture’s net asset value falls 23%
UK – UK-based trustee services and investment trust firm Law Debenture Corp. has seen its net asset value decline by 23.5% to 170.5 pence (250 euros) per share in 2002, compared to 222.9 pence (326 euros) in 2001.
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Allianz corporate pension business up 37%
GERMANY – German life insurer Allianz Leben has seen its new premiums from corporate pension business rise almost 37% to 850.6 million euros.
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UK schemes adopt Myners principles - NAPF
UK – Paul Myners’ recommendations on institutional investment are being adopted by the majority of UK pension schemes, reveals a survey by the National Association of Pension Funds (NAPF).
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Ansbacher in European multi-manager push
EUROPE – Ansbacher is making a push into the growing European multi-manager market and has hired Jeremy Beswick to spearhead the offensive.
