All IPE articles in July 2002 (Online) – Page 5
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Half of UK workers unworried about pensions income
UK – Over half the UK’s working population in not worried about having sufficient retirement income, whilst 54% believe that their employer is responsible for ensuring adequate pension provision, according to research carried out by Hewitt Bacon & Woodrow.
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Valeiras quits Morgan Stanley for Applegate CM
UK – Morgan Stanley Investment Management in London has announced that Horacio Valeiras, head of its global core equity team, has left the company to join San Diego-based Nicholas Applegate Capital Management as chief investment officer.
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GMO Woolley claims rights issues hit performance
UK- Shares of companies that launch cash-raising rights issues underperform the market by 20%, according to research by European asset manager GMO Woolley which maintains Investors who avoid companies who issue rights to reduce debt can enhance their returns.
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Sandler review outlines need to slash red tape
UK- A long-awaited report into the UK’s savings market has delivered a harsh verdict on an industry it says is expensive, overly-complicated and inefficient.
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BVI explains poor take up for new private pensions
GERMANY – A complicated regulatory framework and high expectations for the new occupational pension schemes are to blame for the poor take-up rate of the new private Riester pension funds, says Wolfgang Raab, vice president of the BVI, the German asset management association.
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FTSE hire signals push into US pensions market
US – FTSE Americas, a division of London-based global index provider, FTSE Group, has appointed Carmen Campollo as vice president of pension and consultant relations to its New York office.
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Vanguard appoints new MD for European operation
BELGIUM – Vanguard Investments’ European operation has appointed Ian Alcock as its new managing director. Alcock replaces Frank Satterthwaite, who is moving back to the company’s Pennsylvania headquarters to head up its internal audit group.
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State Street names UK relationship management head
UK- State Street Corporation has appointed Paul Chapman to serve as head of relationship management and strategic marketing for its UK operation.
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Italian unions meet government for pensions debate
ITALY– The Italian government is to hold talks with the country’s main unions this week about reforming the private pensions industry as part of its strategy to relieve the burden on the state pay-as-you-go system.
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Bosch launches new supplementary fund
GERMANY – Stuttgart-based household appliance manufacturer Robert Bosch has launched a new supplementary pension fund for its 102,000 domestic workers. The company is awaiting regulatory approval from the German federal financial services supervisory board, BAFin.
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Legal changes give new German pension funds parity
GERMANY- Germany's new pensionfonds will finally receive parity with other occupational savings vehicles at the beginning of next month when members are allowed to opt for the first to take some of their pension in a lump sum at retirement. Pensionfonds will in addition enjoy greater freedom to invest following ...
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Mercers attacks UK government's pensions policy
UK- Mercer Human Resource Consulting has attacked the government’s pensions policy on the eve of publication of reports on pensions simplification and the medium and long-term savings markets.
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Inco picks Rothschild for £20m specialist mandate
UK- The £60m European pension plan of Inco, the Canadian mining company, has appointed Rothschild Asset Management to manage its £20m specialist UK equity investment portfolio.
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UK to publish two pension review reports this week
UK– The government is this week publishing two reports containing plans to simplify the range of pensions available and to break down the barriers to saving. Both reports call on the government to reform the way pensions and savings products are sold so they can effectively be bought “off the ...
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France plans supplementary scheme for 2003
FRANCE- France’s new prime minister, Jean-Pierre Raffarin, has revealed the long-awaited plans for the country’s first supplementary pension plan.
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Louisiana scheme issues e123m hedge fund RFP
US– The $6bn (€6.2bn) Louisiana State Employees’ Retirement Systems (LASERS) pension fund has issued a RFP for managers for hedge fund-of-funds portfolios worth $120m (€123.4m).
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Parliament to hold hearing on financial regulation
EU- The European Parliament’s economic and monetary affairs committee is holding a public hearing on the supervision of financial services next Tuesday in the wake of the Enron and WorldCom collapses.
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Deutsche Telecom's new pension fund gets approval
GERMANY- Deutsche Telecom is ready to look for managers for the assets in its newly-established pension fund, which received regulatory approval from the BAV today. Though the size and asset strategy of the fund have yet to be determined, DT has asked Towers Perrin to begin organising beauty parades and ...
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Gartmore appoints director for UK clients
UK- Geraldine Wright is joining Gartmore as an account director for UK institutional clients, a role that sees her responsible for a number of pension fund clients. Wright will report to head of client services Elaine Gordon and will work closely with both the client service and investment management teams.
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PAIL launches European hedge fund of funds
UK – London-based alternative management firm, Progressive Alternative Investments Limited (PAIL), is to launch a new closed-end fund of European hedge funds, the Progressive European Alternative Portfolio.
