All IPE articles in June 2002 (Online)
View all stories from this issue.
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News
With-profits AVCs outperform unit-linked funds
UK– With-profits AVCs (additional voluntary contributions) are performing considerably better than managed unit-linked funds, with all but one with-profits AVC funds over three, five and ten year periods reporting higher returns, according to research published by Watson Wyatt.
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Priamo looks for administration provider
ITALY– Priamo, the €30m industry wide pension fund for public transport workers in Italy, is looking for an administration and accounting services provider ahead of issuing a full RFP for investment managers for its assets.
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Jeffreys retires as S&P's head of European indices
UK/EUROPE– Peter Jeffreys is to retire from his position as managing director of Standard & Poor’s Index Services (Europe) at the end of this month. His replacement is expected to be announced shortly.
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PIMCO poaches BGI's Pardi as southern Europe head
UK/EUROPE- Specialist fixed income manager PIMCO has appointed PeterPaul Pardi as head of business development for southern Europe. Pardi was most recently head of southern European institutional business at Barclays Global Investors. Pardi, who joined this week and is based in London, reports to Joe McDevitt, head of PIMCO in ...
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UK council issues e1.1bn RFP in specialist switch
UK – The £775m (€1,119m) Worcestershire County Council pension fund is to issue a RFP next week to find managers for six new portfolios as it moves from balanced to specialist management.
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SWIP appoints de Bruijn from Shell pension fund
UK – Edinburgh-based asset management group, Scottish Widows Investment Partnership (SWIP), has appointed Jan de Bruijn as a senior fund manager to its Asia and merging markets team. De Bruijn will join SWIP in August.
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European funds may be hit by accounting shortfall
EUROPE- Adoption of UK accounting methods into an international standard by 2005 may force some of Europe’s largest companies to prime their pension funds with millions of additional Euros, according to a report by Morgan Stanley.
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F&C appoints head of Dutch operation
NETHERLANDS- Henk Breukink has been named as head of F&C Management’s operations in the Netherlands as of next month. Breukink has been interim head of the Dutch operation since last November and he takes over the job from chairman of the board Alain Grisay.
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CLAM Spiders authorised for UK market
EUROPE/UK – The SPDR Europe 350 and SPDR Euro exchange traded funds (ETFs), the ETF range launched in a joint venture earlier this year between index provider Standard & Poor’s (S&P) and French investment management group, Crédit Lyonnais Asset Management, have been authorised for sale in the UK.
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EFR outlines benefits of single EU pensions market
EUROPE – The creation of a single market for pensions in Europe would create substantial benefits for consumers and encourage economic growth, says the European Financial Services Round Table (EFR), the pan-European association of financial services groups.
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Opra publishes guide for scheme auditors
UK- Pensions regulator the Occupational Pensions Regulatory Authority (Opra) has published a guide outlining the auditor's role and reporting requirements under the 1995 Pensions Act.
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Italian fund looks for administration provider
ITALY – The €25m Italian railways workers’ pension fund, Eurofer, is looking to appoint an administration and accounting services provider ahead of issuing a full RFP for the investment management of its assets.
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Pictet names UK/Europe business development head
UK- Specialist investment manager Pictet Asset Management has appointed Jonathan Hayes as head of business development for the UK and Northern Europe.
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Energy companies merger could lead to €20bn fund
UK – Plans to merge the gas and telecoms infrastructure company, Lattice Group with the electricity transmission group, National Grid Group, could lead to the creation a of merged pension plan with assets of £13bn (€20bn).
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Transaction cost analysis saves coal fund e775,000
UK- The e11bn British Coal Staff Superannuation Scheme is in discussions with two of its managers- Schroder Investment Management and Edinburgh Fund Management- as to how they can cut transaction costs after it emerged that Goldman Sachs Asset Management saved the scheme e775,000.
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German doctors' fund appoints managers for e200m
GERMANY – The €6.5bn Nordrheinische Ärzteversorgung pension fund, the industry-wide scheme for doctors in the German state of North-Rhine Westphalia, has appointed Wellington Capital Management, Putnam Investments, JP Morgan Fleming and Lloyd George Management to run various mandates worth a combined €200m.
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PMI appoints three new board members
UK – The Pensions Management Institute (PMI), the London-based independent organisation that promotes professional standards in pension scheme management and consultancy, has appointed three new members, Philippa James, Philip Read and Robert Richardson, to its management board.
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Gartmore enters hedge fund business
UK – London-based investment management group, Gartmore, has acquired New Jersey-based hedge fund of funds management firm, Riverview International Group, for an undisclosed sum.
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PRICOA rejigs €195m property fund in Europe drive
UK/EUROPE – London-based PRICOA Property Investment Management, the European arm of New Jersey-based Prudential Real Estate Investors (PREI), has restructured its €195m Pan-European Property Unit Trust fund into an open-ended limited partnership as part of its European expansion.
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Morley wrests €1.3bn RBS funds mandate from Newton
UK- London based asset manager, Morley Fund Management has won a £860m (€1.3bn) mandate from the Royal Bank of Scotland (RBS) to run the bank’s bancassurance funds. Morley replaces Newton Investment Management following a beauty parade organised by consultancy firm, Watson Wyatt.
