All IPE articles in July 2002 (Online) – Page 3
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News
ECJ sets date for Danner Case ruling
EUROPE- The European Court of Justice has said it will pass judgement on the Danner case at the beginning of October. A verdict, expected on the 3rd of the month, will receive close scrutiny as many champions of pan European pensions believe it will, if successful, help pave the way ...
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Edinburgh Trust picks Fidelity for e1.7bn mandate
UK – The Edinburgh Investment Trust (EIT) has appointed London-based Fidelity Investments to manage its £1.1bn (€1.7bn) assets following an RFP it conducted earlier this year. Fidelity narrowly beat Scottish fund management group, Baillie Gifford.
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Credit Agricole picks up e740m Italian mandate
ITALY- Italian insurance company Po Vita has awarded Credit Agricole Group’s Italian asset management company a balanced mandate worth e740m to oversee its technical reserves.
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Swiss chamber joins critics of guarantee cuts
SWITZERLAND- The Swiss Chamber of Pension Fund Experts has added its weight to the growing opposition opposition to the decision to lower the guaranteed minimum interest rate for mandatory occupational pension schemes in Switzerland.
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CAPS data show pooled funds continue to struggle
UK – The UK’s pooled pension fund market again reported negative results for the second quarter of 2002, held down by negative returns in the equity markets, according to the latest Russell/Mellon CAPS survey of the UK’s pooled pension fund market. The balanced pooled fund median for the period ...
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90% of German companies to launch Riester schemes
GERMANY – Nine out of ten companies in Germany are planning to establish a new occupational retirement fund under the Riester pensions reform, according to research just published by the German occupational pensions association, ABA.
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Calpers files joint lawsuit against WorldCom
US- Three California public pension funds have begun legal proceedings in an attempt to recover losses against WorldCom executives and underwriters of WorldCom bonds issued in May of last year.
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Morley launches first SRI fund in Germany
GERMANY- Morley Fund Management and Delta Lloyd Investment Managers, both members of the Aviva Group, have launched a new active socially responsible mutual fund in Germany.
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BoNY scoops $17bn in custody mandates
US- Two Iowa state pension schemes have selected the Bank of New York to provide a range of investment services for their assets of $16bn.
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Life insurance more popular than Riester pensions
GERMANY– The life insurance funds business in Germany is enjoying something of a renaissance as people favour them over Riester private pensions funds as a means of investing for their retirement.
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DKW raids Deutsche's securities lending team
UK/US– Dresdner Kleinwort Wasserstein (DKW) has poached four more members of Deutsche Bank’s agency securities lending team in order to build up its own new securities lending division.
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State Street wins $45bn custody from Nuveen
US– Chicago-based mutual fund and asset management company Nuveen Investments has appointed Boston-based financial services group, State Street Corporation, to provide custody and accounting services for 130 of its funds, worth collectively some $45bn (€44.7bn).
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Gartmore launches new fixed income funds
LUXEMBOURG- Gartmore Investment Management has launched two fixed income sub funds for its Luxembourg-based SICAV range.
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New laws reform Luxembourg's state pension
LUXEMBOURG- Luxembourg’s government has introduced radical and generous reforms to the country’s first pillar state pension that will produce higher basic pensions and provide incentives to retire later.
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Local authority returns negative for second year
UK- Local Authority pension funds have registered a second consecutive year of negative returns according to the performance measurement consultants WM Company.
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Skandia raids AP1 and AP3 for asset managers
SWEDEN – Stockholm-based Skandia Liv Kapitalförvaltning, the asset management division of banking group Skandia, has appointed Bo Ljunglöf as a portfolio strategist and Kristian Nammack as head of external asset management.
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Mercers makes senior changes to retirement unit
UK- Mercer Human Resource Consulting has announced a number of senior management changes to its retirement practice.
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EC takes optional social responsibility approach
EUROPE – The European Commission has published a communication on corporate social responsibility (CSR) outlining a series of optional recommendations.
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European ETF range exceeds US following new launch
GERMANY - Europe now has more ETFs than the US following the launch of fourteen new ETFs by Munich-based exchange traded fund (ETF) specialist company, IndExchange.
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EU launches financial regulatory panel
EUROPE- Europe’s Committee of European Securities Regulators (CESR) has established a panel of consultants to help it work towards harmonising the EU’s financial regulatory system.
