All IPE articles in July 2002 (Magazine)

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  • Features

    Weathering the storm

    July 2002 (Magazine)

    After a period of relative stability, analysts are reporting renewed caution and uncertainty in Europe’s markets, brought on initially by the threat of terrorist attacks and war, and now by the WorldCom affair. “Quite frankly this is another accounting scandal that we could do without,” says Catherine Reilly, an economist ...

  • Features

    Wilshire provides risk system

    July 2002 (Magazine)

    In its search for a risk management system for the fund, the NTMA finally settled on US analytics specialist Wilshire. Mike Olson, managing director of Wilshire’s London office, explains that the NTMA is using three different products from Wilshire: a product named ‘Atlas’ for equities, ‘Axiom’ for fixed income investments ...

  • Features

    Roche picks Watson

    July 2002 (Magazine)

  • Features

    N Yorks search

    July 2002 (Magazine)

  • Features

    Siemens targets Mittelstand plans

    July 2002 (Magazine)

    With 450,000 employees, Siemens is Europe’s largest employer and ranks among the biggest globally. While the group’s pensions liabilities at E19bn may not be the same as some of the giant US corporations, Siemens has been making determined efforts to put in place a structure that would not just manage ...

  • Features

    Slipping silently into the markets

    July 2002 (Magazine)

    While the appointment of 15 investment managers to manage e7bn in assets is in itself no mean feat, the transition of the lion’s share of the assets from cash deposits to market via 14 different investment briefs left the NTMA – in conjunction with Watson Wyatt, the consultant appointed to ...

  • Features

    Long and rocky road

    July 2002 (Magazine)

    The 1997 Green paper drawn up by internal commissioner Mario Monti is often seen as seminal in getting today’s proposed directive underway. In many ways this is true but the paper, and subsequent discussion, drew heavily on the mistakes and lessons learnt from the first unsuccessful attempt. A fairer assessment ...

  • Features

    Spreading the load

    July 2002 (Magazine)

    The first tenders to be put out into the market by the NTMA were those to find the advisers that would help it in the mammoth task of implementing a suitable investment strategy, appointing the requisite investment managers, selecting an appropriate custodian and choosing the best transition manager to bring ...

  • Features

    Power to the lay trustees

    July 2002 (Magazine)

    An extremely important development in the UK pensions industry over the past few years has been a significant change in the role of pension scheme trustees. For example, the Myners report, although highlighting the major issues around the institutional investment market, concluded that trustees are “at the heart of the ...

  • Features

    Lessons in how not to do it

    July 2002 (Magazine)

    One of the most interesting reports to emerge in Ireland following on from the reserve fund announcement by the government appeared in December 2000. Commissioned by the Irish Association of Pension Funds (IAPF), the report by consultancy Shane F Whelan & Co focused on the possible investment strategies that the ...

  • Features

    Make room for gold

    July 2002 (Magazine)

    It never rains, but it pours. Which, for most of us, is precisely the moment that we remember – with a certain degree of bitterness – how we so nearly picked up our umbrella before rushing out of the door. And so it is with gold. For two decades, the ...

  • Features

    Swiss going specialist

    July 2002 (Magazine)

  • Features

    UIA goes SRI

    July 2002 (Magazine)

  • Features

    Russian pension reform goes on

    July 2002 (Magazine)

    As the main achievement, the new three-pillar system incorporating the mandatory funded pillar was launched in 1 January 2002. Now 2% out of 28% of pension contributions calculated from the payroll are used for investment purposes. In 2002, all contributions to the funded system go to the public Pension Fund ...

  • Features

    Giving mobile workers pension wheels

    July 2002 (Magazine)

    Promoting labour mobility within Europe is one of the central aims of the EU. Yet one large obstacle to this is the portability of supplementary pension rights. A European Commission directive, adopted in 1998, was intended to give supplementary pension rights the same sort of protection as basic pension rights. ...

  • Features

    Skandia launches global giant

    July 2002 (Magazine)

    Skandia, Scandinavia’s largest insurance company, has just launched a global mutual fund company, Skandia Global Funds (SGF). SGF hopes to leverage off Skandia’s worldwide businesses to offer a fund family comprising of 20 sub funds, with the intention of increasing up to 30 by the end of the year. SGF ...

  • Features

    Institutional funds make rapid progress

    July 2002 (Magazine)

    German investment law provides institutional investors, which are legal entities, the opportunity to organise – in a particularly efficient manner in terms of both management and taxation – their real-property investments already existing in Germany or are going to be effected there. This can be carried out through interposing a ...

  • Features

    Scottish managers shift focus

    July 2002 (Magazine)

    Scottish asset managers have always had to look beyond their own national market for their business. South of the border has historically been the major market for the managers from Edinburgh and Glasgow, but some have fished successfully further afield, particularly in North America. Now with the European markets opening ...

  • Features

    Money flows go property way

    July 2002 (Magazine)

    Institutions are back in the real estate market. Nothing to do with property, everything to do with the current state of equity markets, says Andrew Jackson, investment director of real estate, Standard Life Investments in Edinburgh. Poor equity performance has led to a reappraisal of real estate by UK institutional ...