All IPE articles in July 2003 (Online) – Page 6
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Asset managers quit and turn backs on industry – survey finds
UK – More fund managers are leaving the industry than at any point in the past seven years, reveals a survey by consultants Watson Wyatt.
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Towers advises against rash pension decisions
UK – Consulting firm Towers Perrin has warned companies not to make rash decisions when dealing with pensions issues – saying there is a danger of being “too decisive”.
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Talbot quits as head of SSGA fixed income to join BGI
UK/US – State Street Global Advisors’ head of international fixed income, Mark Talbot, has left the company to join Barclays Global Investors in the US.
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LPFA on prowl for global custodian
UK – The 2.5 billion pound (3.6 billion euro) London Pension Fund Authority (LPFA) has put out a tender for a global custodian.
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CalPERS Crist wins ICGN governance award
NETHERLANDS William Crist, the former chairman of the California Public Employees Retirement System (CalPERS), has won the International Corporate Governance Network (ICGN) award for contributions to corporate governance.
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Aegon to cut up to 450 jobs in revamp
NETHERLANDS – Aegon is to cut up to 450 jobs in a consolidation of its business units...
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ABN AMRO Mellon wins E7.9bn Newton custody deal
UK – Newton Fund Managers, the UK asset management subsidiary of Mellon Financial Corp., has appointed ABN AMRO Mellon Global Securities Services as custodian for its exempt and private investment management fund ranges.
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German e7bn VBL fund appoints Universal and BNP Paribas
GERMANY - The leading public pension fund in Germany, Versorgungswerk des Bundes und der Lander, or VBL, has mandated market leader Universal Investment to act as its Master KAG and BNP Paribas Securities Services as the global custodian.
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Belgian funds on course to return 6.5% this year - ABIP
BELGIUM – The Belgian pension fund association says that, on current trends, Belgian pension funds could return around 6.5% in 2003.
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T. Rowe Price hires former ADAM CIO
UK – Laurence Linklater, former chief investment officer at Allianz Dresdner Asset Management, has been appointed by T. Rowe Price International.
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Scandinavian industry fund tenders mandates via IPE-Quest
SCANDINAVIA – A Scandinavian industry-wide pension fund has put out to tender two US equity mandates via IPE-Quest.
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BAE names Northern Trust as pension custodian
UK – Defence group BAE Systems has appointed Northern Trust as global custodian for its pension funds...
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F&C to outsource institutional admin to Mellon
UK – F&C has announced it is in exclusive discussions to outsource the administration of its 60 billion-euro institutional business to Mellon Global Securities Services...
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FERI launches European fund data product
EUROPE - Fund groups in Europe no longer have to work blind as a result of a new data product, claims Rodney Williams, managing director of London-based FERI FMI...
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Shropshire moves into hedge funds
UK – Shropshire County Council has announced a change in its pension fund benchmark with greater allocation to bonds and the introduction of a hedge fund portfolio.
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Portuguese pension funds net buyers of equities
PORTUGAL – Pension funds in Portugal were net buyers of equities in the first quarter, according to new data from Watson Wyatt.
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EU acts on investment fund discrimination
EUROPE – The European Commission has asked Germany and Austria to end discrimination against foreign investment funds and is seeking information from France.
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Pensions should be compulsory, says UK report
UK - Employer and employee pensions should be made compulsory if the UK’s 27 billion-pound (38.7 billion-euro) pension gap is to be filled, says market analysis firm Datamonitor.
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Pioneer Alternatives opens London office
EUROPE - Pioneer Alternative Investments has opened a London office as part of an ambitious expansion plan.
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UK union threatens action on retirement age
UK – The main civil servants union has threatened industrial action over government plans to raise the retirement age for public sector workers.