All IPE articles in July 2003 (Online) – Page 3
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Bond fund assets rise 33% - report
EUROPE - Bond fund assets rose by 33.4% in the six months to the end of May, according to a new report from Fitzrovia International.
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LGIM profits rise 8.7% as assets rise
UK – First-half profits at Legal & General Investment Management have risen 8.7% - with assets under management going up to 123 billion pounds (173 billion euros).
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TRW finds replacement for MacDougall
UK – TRW Investment Management has appointed Roisin Magee to replace managing director William MacDougall, who left abruptly earlier this year.
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SSGA enters the ‘unconstrained’ debate
UK – So-called unconstrained mandates may improve returns, but how will those picking managers identify the best, asks State Street Global Advisors’ UK chief investment officer Rick Lacaille.
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Mercer’s revenues rise 16% to $690m
US – Consulting firm Mercer has seen its quarterly revenues rise by 16% - though sister company Putnam Investments has posted lower revenues.
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Pioneer names German alternatives sales head
IRELAND – Germany’s proposed legislation on hedge funds of funds has led Pioneer Investments to bolster its alternative investment sales team for Germany and Austria.
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University offers asset management degree
UK – With reports that talent is leaving the asset management industry, Brunel University is offering a finance MSc degree specialising in the subject – the first of its kind in the UK with a work placement.
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UK issues new corporate governance code
UK – The final redraft of the Combined Code on corporate governance, following the Higgs Review into non-executive directors, has received the thumbs up from institutional investor bodies.
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Pension reform not enough on its own – OECD
GLOBAL – The Organisation for Economic Cooperation and Development says pension reform by itself is not enough to deal with the problems of ageing populations – behaviour and attitudes must change as well.
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German equities best for German funds - BVI
GERMANY – German equities was the best performing asset class for German funds in the first half of the year, according to the BVI Bundesverband Investment und Asset Management.
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Pension fund seen as key to Belgacom privatisation
BELGIUM – The Belgian government may have to take over Belgacom’s employee pension fund if it is serious about privatising the national telecoms operator.
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Mercer says UK pension gap could be E423bn
UK – Mercer Human Resource Consulting has estimated that, taking everything into account, the total combined pension fund deficits of UK companies could be up to 300 million pounds (423 billion euros).
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HSBC AM names Lyne as institutional director
UK – HSBC Asset Management has appointed Julian Lyne as director of institutional business.
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FirstRand signals sale of Ansbacher
EUROPE – South African financial services firm FirstRand has announced it will be looking to sell or part-sell Ansbacher -though it will retain the multi-manager subsidiary.
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UK pension returns at 4-year high - CAPS
UK – Pooled balanced pension funds made a median return of 11.2% in the second quarter – the best quarterly returns for almost four years - according to new data from Russell/Mellon CAPS.
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France sees increase in pension contributions
FRANCE – French labour minister Francois Fillon has announced that there may have to be an increase in pension contributions, particularly by employers, if early retirement does not slow down.
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Irish Pensions Board to probe DC growth
IRELAND – The Irish Pensions Board is to examine the switch towards defined contribution pensions, citing member protection and “the ultimate adequacy of pension provision”.
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Allianz’s Pimco names UK fixed income head
UK – Pimco has named Rothschild Asset Management’s Michael Amey as its new head of UK fixed income.
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Northants seeks replacement for Watson
UK – Northamptonshire County Council pension fund has put out to tender a mandate for a scheme actuary to replace Watson Wyatt.
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UK balanced pooled funds return 11% - HSBC
UK – Balanced pooled pension funds returned 11.4% in the second quarter of 2003, with Glasgow Investment Managers the best performing fund manager – according to HSBC.
