Investor Strategy – Page 245
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Bush urges Senate to pass pensions proposals
US- US President George Bush has urged the Senate to pass his proposals to protect the pensions and retirement security of America’s workers.
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State Street wins e14bn custody from Alberta
CANADA- Alberta Revenue, manager of the Province of Alberta’s CAD$35bn investments for public pension plans and provincial corporations, has appointed State Street to provide domestic custody and securities lending for CAD$22bn (e14.3bn) in assets.
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FTSE to launch new series of bond indices
UK- Global index provider FTSE Group is launching a new global bond index series, following its recent acquisition of Reuters’ BONDTOP index family.
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Managers more optimistic about equity prospects
GLOBAL- Fund managers are more optimistic about the prospects for the world equity markets than they have been for a year according to the latest Merrill Lynch fund manager survey.
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Russian pension reform opportunity for managers
RUSSIA - Pension system reforms in Russia and the CIS could open doors to those countries for foreign fund managers.
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Asset-backed investments find favour in Europe
EUROPE - Almost e92bn of new asset-backed debt has been sold into Europe so far this year, according to Deutsche Bank, indicating that the market sector is becoming increasingly popular among investors.
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Willis and ABN Amro launch pension advice venture
DENMARK- Denmark’s largest pension broker Willis and Alfred Berg ABN Amro have entered into an agreement under which the latter will offer management advice to Willis’s unit linked clients.
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Mercers claims DC management practices are lacking
GLOBAL- Management practices in defined contribution retirement schemes are not meeting employer and employee expectations according to a global survey conducted by Mercer Global Human Resource Consulting.
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IPE announces 2002 pension fund awards winners
EUROPE- IPE Magazine has announced the winners of its 2002 pension fund awards for both “investment strategy” and “fund structure and administration”. Entrants were judged by selected panels of experts selected country by country.
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Rabeau replaces Deheuvels as AXA CIO
FRANCE- AXA Investment Managers in Paris has promoted Christian Rabeau, its head of asset allocation, to the position of chief investment officer following the departure of Thierry Deheuvels.
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TIAA-CREF and CalPERS to challenge executive pay
US- Two of the world's largest pension funds, TIAA-CREF and CalPERS, are planning to target companies that offer over-generous pay schemes, and to request changes from their boards.
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E.ON picks Activest as master-KAG
GERMANY- Activest, investment group of HypoVereinsbank, has been appointed as head investment services provider (Master-KAG) for E.ON Energie’s spezialfonds.
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Schroders and Invesco lose e720m from Yorkshire
UK- The e1.1bn North Yorkshire pension fund has replaced Invesco Asset Management with Barclays Global Investors on a £150m (e240m) global balanced mandate following a review of the fund manager line up.
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German institutions slash equity holdings to 19%
GERMANY- German institutions have decreased their asset allocation to European stocks from an aggregate 27% to 19% over the last two years, according to a survey by US-based consultants, Greenwich Associates.
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Morley names head of alternative investments
UK- Morley Fund Management has appointed Peter Rains as head of alternative investments, in addition to his role of head of fixed income.
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Cardano hires NIB's ex-CIO van Gelderen
NETHERLANDS- Cardano Risk Management, the Dutch derivatives and ALM research firm has appointed Eduard van Gelderen as a director responsible for marketing its products.
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Multinationals centralise pensions activities
GLOBAL- Multinationals across the world are centralising the management of their pension fund arrangements according to a new survey by the consultant Watson Wyatt.
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Spanish market set to disappoint foreign managers
SPAIN- Spain’s expanding pensions marketplace may not provide as many opportunities to foreign fund managers as initially thought says Cerulli Associates, Boston-based strategic research and consulting firm.
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Axa transfers e5.6bn to Axa Rosenberg
UK- AXA IM will transfer approximately £3.5bn (e5.6bn) of its Continental Europe and global equity mandates to its specialist global equity affiliate, AXA Rosenberg, following a strategic review.
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Schroders replaces Invesco on e50m Asian fund
UK- Cardiff County Council’s e890m pension scheme has replaced Invesco by Schroders Investment Management as manager for its Asian equity portfolio.
