All IPE articles in July 2004 (Online) – Page 3
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News
Spain: BBVA wins public sector pension brief
SPAIN - BBVA has cemented its position as the leading pension fund manager in Spain with a major mandate to run public sector pensions.
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Northern Trust working with multinats on pooling
LUXEMBOURG – Northern Trust says it is working with two multinational companies on Luxembourg-based tax-transparent pension pooling.
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French reserve fund set to name overlay manager
FRANCE - The 16 billion-euro French reserve fund, the Fonds de réserve pour les retraites, is going to appoint an overlay manager by the end of July, the president of the scheme’s executive board, Francis Mayer, says.
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VB says new code answers pension crisis
NETHERLANDS – Attention is being focused on the role and impact of the proposed Board of Management contained in the VB’s new pension fund governance code.
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PMT scheme raises pre-pension age (Corrected)
(Corrects name of pension fund) NETHERLANDS – Kleinmetaal (middle and small companies) have been confronted by their pension fund, the Pension Fund for Metalworking and Mechanical Engineering, or Pensioenfonds Metaal en Techniek, which has raised the pre-pension age to 60 from 55 previously in a bid to save ...
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Commission acts against Spain, UK on pension tax
EUROPE – The European Commission has referred Spain to the European Court of Justice over pension taxation and has asked the UK to amend its legislation.
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France’s FRR to launch governance guidelines
FRANCE - The French pensions reserve found, the Fonds de réserve pour les retraites, is to launch a set of guidelines for corporate governance by the end of the year.
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Diageo profits take E132m FRS17 hit
UK – Drinks group Diageo says the FRS17 pension accounting standard has led to an 88 million-pound (132 million-euro) lower operating profit.
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Former HVB pension head Eckert joins Allianz
GERMANY - Carsten Eckert, former chief executive of Pension Consult, the consulting arm of HypoVereinsbank, has joined Allianz.
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AMF Pension returns to real estate
SWEDEN - The 197 billion-crown (21.3 billion-euro) pension provider AMF Pension has made its first investment in real estate in a year, buying three properties from Skanska for more than one billion crowns.
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German pension reforms boost intermediaries
GERMANY - Industrie Pensions-Verein, which provides pension services for small and medium-sized companies of up to around 500 employees, saw its client base increase by about seven percent last year to over 350,000.
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SEI names Harris as France asset mgmt head
FRANCE - SEI Investments has appointed Damian Harris as new head of asset management in France after Jean-Yves Foucat left the company to become an independent consultant.
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BNP Paribas in Italian hedge fund move
ITALY- BNP Paribas Group has partnered with Mediobanca and Mediolanum’s Duemme Hedge to launch a fund of hedge funds targeting small pension funds and individual investors.
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Fund Forum: Mutual fund industry under spotlight
FRANCE - Mutual funds must re-gain the trust of clients after the market timing and late trading scandals, the head of the second largest mutual fund company in the US has demanded.
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Mercer says UK pension deficits fall to E95.9bn
UK – Mercer Human Resource Consulting says pension scheme deficits at companies in the FTSE350 index fell to 64 billion pounds (95.9 billion euros) from 74 billion pounds over 2003.
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Schroders makes hedge fund appointment
UK - Schroders has appointed Russell Investment Group’s Derek Doupe to the new role of head of business development for its fund of hedge funds business.
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Merchant Navy scheme CEO retires after revamp
UK - Geoffrey Henry, the chief executive of the 2.7 billion-pound (4.03 billion-euro) Merchant Navy Pensions Administration Ltd. Merchant Navy Officers Pensions Fund, MNOPF, has retired.
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F&C names director of sales for Germany
GERMANY - F&C Management has named Andreas Steinmeier, formerly head of institutional marketing and sales at Commerzbank’s Cominvest Asset Management, as director of sales and client service for Germany.
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Italy’s Espero teachers’ fund tenders admin
ITALY - Fondo Scuola Espero, the new government-backed pension fund targeting 1.1 million teachers, has tendered for a manager to take on its administration and accountancy function.
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Mellon consulting arm hires Hymans’ George
UK - Mellon Financial Corp.’s Human Resources & Investor Solutions arm has named Marian George as a senior investment consultant.
