All IPE articles in July 2002 (Online) – Page 4
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LSE to switch DB equity assets to fixed income
UK – The London Stock Exchange (LSE) is to switch the remaining 25% -£41m (€64m) - equity portion of the defined benefit segment of its pension fund into fixed income which now accounts for £107m of the total £148m.
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Icelandic fund picks MFS for $100m equity mandate
ICELAND- Iceland’s largest pension fund, LSR, has appointed MFS Investment Management to run a segregated global equity mandate that will eventually be worth $100m.
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UK funds fail to embrace ethical investing
UK- A new report suggests UK pension funds continue to shun ethical investing despite an amendment to the 1995 Pensions Act two years ago designed to make them take social and environmental issues more seriously.
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Lazard appoints new head of UK operation
UK – New York-based Lazard Asset Management (LAM) has appointed Bill Smith as managing director and co-chief executive officer to take care of its London-based UK operation.
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Schroders questions shift from equities to bonds
UK – Stock market history does not support the current trend in the UK that favours investments in fixed income over equities, claims new research from Schroders.
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Janus targets German-speaking Europe
GERMANY – Denver-based asset manager Janus has appointed Thomas Fleck as regional director for German-speaking Europe.
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Invesco launches DC products in Germany
GERMANY – Asset management group Invesco is set to enter the new German occupational pension fund market by the Autumn. Encouraged by the Riester reforms, the group’s planned defined contribution products will comprise either multi-employer funds or single pension schemes for larger companies.
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Emerging beat developed markets in 2001
GLOBAL – Global emerging markets outperformed their developed market counterparts as a whole last year and only declined marginally in dollar terms, despite caution among emerging market fund managers.
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Government wary over Pickering recommendations
UK- The government has reacted cautiously to recommendations in yesterday’s pensions simplification report that it legislate to end a compulsory inflation link for pensions and to scrap benefits for spouses.
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Russian returns dominate Eastern European funds
EASTERN EUROPE – Median returns for funds investing in eastern Europe, particularly Russia, have risen to 55% in dollar terms, whilst investments in the emerging European markets recorded median returns of 26%, according to the latest annual survey of EMEA investments by Standard % Poor’s.
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Pickering report recommends new pensions act
UK– Alan Pickering has called on the government to draft a new pensions act to implement the changes he proposes in his report on simplifying pensions published today. Pickering says the new act should repeal or consolidate any existing private pensions legislation.
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ASIP slams Swiss government over guarantee cuts
SWITZERLAND- The proposal to lower Switzerland’s guaranteed minimum interest rate for mandatory occupational pensions from 4% to 3% has provoked widespread opposition from pension funds, employers and political parties.
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Irish pension fund association names new CEO
IRELAND – The Irish Association of Pension Funds (IAPF) has appointed Nora Finn as its new chief executive. She joins the IAPF from Irish Cement where she has spent the last ten years as HR and pensions manager.
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Review proposes beefed up UK pensions regulator
UK- Alan Pickering’s report into simplification of the pensions industry has proposed a new beefed up pensions regulator to work alongside the Financial Services Authority.
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Pickering's 2004 target 'very ambitious'
UK- The logistics and complexity of introducing the recommendations in Alan Pickering’s report on simplifying the pensions industry have come under fire from some sectors of the industry.
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German retail market to triple in size by 2006
GERMANY– The German retail fund market is expected to triple by 2006 from its present value of €418bn to €1.2trn, with foreign groups accounting for 15%, says the latest research by FERI Fund Market Information.
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F&C investment head quits for public sector career
UK- Arnab Banjeri, head of investments as F&C Management is leaving to pursue a career in public services following his appointment last year as a member of the advisory panel of a government think tank.
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New Dutch government to cut tax exemption levels
NETHERLANDS- The Netherlands’ incoming government is to cut tax exemption levels for contributions to occupational schemes from 2% to 1.75% in a move that will force workers either to retire later or to pay more for an equivalent final salary pension.
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Non-US stocks dumped from S&P500 index
US – Index provider Standard & Poor’s has dropped seven non-US companies from its S&P 500 index and replaced them with US companies, in a move that means the index is composed exclusively of US companies.
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Watson Wyatt's Stockholm head leaves for Nordea
SWEDEN – Johan Sidenmark has left Watson Wyatt Worldwide’s Stockholm office nine months after joining the benefits and investment consultancy from rivals Mercer Human Resource Consulting.
