All IPE articles in July 2003 (Online) – Page 9
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News
Belgian SRI firm Ethibel swings to 2002 loss
BELGIUM – Socially responsible investing company Ethibel posted a loss of 167,193 euros in 2002, compared to a profit of 59,092 euros in 2001.
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New Dutch governance code targets shareholders
NETHERLANDS – New Dutch corporate governance proposals have been published which aim to strengthen the role of shareholders and company supervisory boards.
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State Street completes GSS buy in Italy
ITALY – State Street has completed its acquisition of Deutsche Bank’s custody arm, Global Securities Services in Italy and expects to close the acquisition of the Austrian GSS business in the third quarter.
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Pension funds “seeking alternatives to equities”
EUROPE – European pension funds are showing a clear desire to invest in assets which are not correlated to equities, according to a new report from J P Morgan Fleming Asset Management.
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Mercer accuses UK of “misleading” pension claims
UK – Mercer Human Resource Consulting says the UK government has made misleading claims about the level of pension incentives in the tax system.
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HSBC UK custody mandates under review
UK – HSBC Global Investor Services has seen two of its global custody mandates for UK local authority pension funds being re-tendered.
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More funds seeking hedge fund of funds, says Io
UK – An increasing number of UK pension funds are looking to invest in hedge fund of funds - but they need to be aware of how to identify the right fund. So says manager of managers Io Investors.
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Hoogovens makes one millionth IPE.com “hit”
EUROPE – IPE.com has reached one million article reads – with a portfolio manager with a Dutch corporate pension fund winning the prize for becoming the one millionth reader.
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UK makes proposal to raise retirement age to 70
UK – The UK government has outlined proposals to raise the retirement age to 70 – though the plans are only seen as tackling part of the problem.
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Edinburgh Fund Managers in bid talks
UK - Edinburgh Fund Managers has confirmed that it is reviewing its options and that it is in bid talks.
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Britannic AM opposes unconstrained benchmarks
UK – Frequent changes of pension fund benchmarks should be avoided, says Britannic Asset Management, in response to recent advice from consultants to use “unconstrained benchmarks” to avoid index-hugging.
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Watson Wyatt hires Roelofs to head Dutch arm
NETHERLANDS – Watson Wyatt has hired Deutsche Asset Management’s Gerard Roelofs as head of its investment consulting practice in the Netherlands, Watson Wyatt Brans.
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Aon in talks to buy ABN Amro’s Consultas actuarial unit
NETHERLANDS – Aon Consulting’s Dutch arm is in talks to buy actuarial consultant Consultas from ABN Amro.
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OPAS slams UK occupational pensions practices
UK – A public worried about their occupational pensions are increasingly coming to the doors of the pensions advisory service OPAS, the London based body to handle pension enquires, for “help and reassurance”.
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OECD says Italy needs further pension reform
ITALY – Italy’s pension system will need reforming beyond encouraging the growth of a private funded pillar if it is to tackle the financial burden, says an in-depth report by the Organisation for Economic Cooperation and Development.
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Metalektro taps Goldman for E750m brief
NETHERLANDS – The 11.7 billion euro Pensioenfonds Metalektro has appointed Goldman Sachs Asset Management to manage a 750 million euro asset allocation and active currency mandate.
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Five new mandates tendered via IPE-Quest
EUROPE – There have been five new mandates tendered via IPE-Quest, one from a Scandinavian industry-wide pension fund and four from a Swiss corporate pension fund.
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Consultants HBW launch ‘conflict free’ fund service for pensions
UK – Major consulting firm Hewitt Bacon & Woodrow(HBW) has introduced the Fund Delivery Service enabling pension funds to choose investment funds from a wide range of managers, but on a basis that claims to avoid any conflicts of interests.
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UK’s Greenwich names State Street as custodian
UK – The 400 million pound (573 million euro) Greenwich Superannuation Fund in London has appointed State Street Corp. as global custodian.
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Stoxx names Lombard Odier’s von Werra as MD
SWITZERLAND – Index group Stoxx has named Elizabeth von Werra, a fund manager at Lombard Odier Darier Hentsch, as its new managing director.
