All IPE articles in July 2003 (Online) – Page 4
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Finland's LGPI sticks with State Street/Deutsche
FINLAND - Finland's 12 billion-euro Kuntien eläkevakuutus, or Local Government Pensions Institution, has stuck with the former Global Securities Services arm of Deutsche Bank which is now part of State Street.
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UBS GAM boosts European property team
EUROPE - UBS Global Asset Management has boosted its continental European real estate team with the recruitment of three executives from property firm Lend Lease.
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ECB pension plan announces manager and custody tender
GERMANY – The European Central Bank is looking for investment managers and a custodian for its 70 million euro retirement plan.
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UK managers want freedom from benchmarks – poll
UK – Hewitt Bacon & Woodrow has found that most UK fund managers believe that benchmarking against an index prevents them from backing their best ideas and that so-called unconstrained mandates would lead to improved portfolio performance.
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Mercer opens new German investment consulting arm
GERMANY – Mercer Investment Consulting is to launch a new investment consulting practice in Germany.
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Pioneer poaches BAM's Robson to head up global equities team
IRELAND – Pioneer Investments has appointed Neil Robson as new head of global equities in Dublin.
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Norwegian Petroleum Fund proposes new ethical investment guidelines
NORWAY – New proposals for the 86.5 billion euro Norwegian Government Petroleum Fund suggest imposing constraints that will see the fund invest only in ethically sound securities.
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French government tackles final part of pensions reform bill
FRANCE – The French senate is broaching the final issue of the pensions reform bill today – the introduction of new individual retirement savings plans.
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French asset managers up corporate governance stance, says AFG-ASFFI
Investment managers in France are showing more interest in voting at the annual meetings of companies they invest in, according to a survey by the French asset management associations AFG-ASFFI.
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IPE sets up outstanding industry contribution award
EUROPE – IPE has opened nominations for the “Outstanding Industry Contribution”, to be declared at the annual IPE Awards on November 20 2003 in Amsterdam.
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Ruling expected on Irish pilots' DB/DC test case
Ireland - The Irish Pensions Board is expected to rule shortly whether the Irish Airlines (Pilots) Superannuation Scheme (IASS) is a defined benefit (DB) or defined contribution (DC) scheme.
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Chevron Texaco hires CSAM for UK bond brief
UK – Chevron Texaco pension scheme has appointed Credit Suisse Asset Management as manager for a 70 million pound (98.9 million euro) UK fixed income portfolio.
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Belgacom rings up poor performance figures for 2002
BELGIUM – Belgacom pension fund, Belgian’s largest, has released its 2002 figures, which show a negative return of 7.5%.
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EU capital directive could prompt industry shakeout, says consultant
The European Union’s third Capital Adequacy Directive (CAD 3) will distort profitability among European asset managers and force them to improve their risk management processes, a UK consultant predicts.
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New German pension accounting standard postponed
GERMANY – The German accounting standard for pension obligations, DRS-19, which was expected to be approved by the Ministry of Law this summer, has been postponed indefinitely.
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German institution tenders for corporate bond manager
GERMANY – A German institutional investor has put out to tender a global investment grade corporate bond mandate via IPE-Quest.
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Merrills bolsters global equity team
UK – Merrill Lynch has bolstered its global equity team with the appointment of John Leonard as a fund manager.
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PGGM hits positive results trail for first half of year
NETHERLANDS – Dutch healthcare and social service pension fund, PGGM, has announced positive returns of 8% for the second quarter, and 5.9% for the first half of 2003.
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BNP Paribas in move to open German market to international funds
FRANKFURT – BNP Paribas Securities Services has entered an arrangement with service providers in the German marketplace to enable Luxembourg and Dublin-based investment funds to have the same subscription and settlement services as domestic mutual funds.
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SEI in HSBC Republic private client tie-up
UK – SEI Investments has formed a partnership to provide the clients of HSBC Republic, the private banking arm of HSBC, with a manager of managers account programme.