All IPE articles in June 2002 (Online) – Page 3
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News
Threadneedle builds its corporate bond division
UK- Threadneedle Investments is adding to its corporate bond team with three new hires. Trudie Pearce, Paul Kirtley and Victoria Port will join the 20-strong fixed income division over the next three months and report to head of fixed interest Robert Stirling.
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LSE and International launch hedge fund research
UK- The London School of Economics and Political Science is establishing a hedge fund research programme to carry out independent academic research in conjunction with International Asset Management (IAM).
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Frey named as new European Securities Forum CEO
SWITZERLAND/UK- Werner Frey has been named as the new chief executive of the European Securities Forum, the group of banks pushing for cheaper cross border clearing and settlement across European exchanges.
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Martin Currie poaches Berry from R&SA
UK – Edinburgh-based independent fund manager firm, Martin Currie Investment Management, has appointed David Berry as a fund manager to its UK growth and income team. Berry joins from Royal & SunAlliance Investments where he spent less than a year also as a manager of income products.
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Commerz sells off Italian AM amid bad results
GERMANY / ITALY – Commerzbank has sold its Italian asset management subsidiary, Commerzbank Asset Management Italia (CAMI) to Australian financial services group, AMP, for €20m. The move is part of the banking and financial group’s strategy to streamline its asset management activities as a result of recent disappointing earnings.
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Bailey steps down after 33 years as Janus CEO
US – Tom Bailey is to step down as chief executive officer of Denver-based fund management group Janus after 33 years with the firm he founded in 1969. A successor has yet to be named.
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Pension funds 'to double' private equity holdings
GLOBAL- Private equity investment will continue to grow over the next ten years and pension funds in the US and Europe are expected to double their allocation to the asset class according to a new report by the Economist Intelligence Unit.
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Ireland's switch to DC is less than expected
IRELAND- New research suggests Ireland’s defined benefit schemes are proving more resilient than those of the UK and the shift to defined contribution is less marked than expected.
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Closure of UK DB schemes rises to 25%
UK – Defined benefit schemes in the UK now account for over 14% of the average company payroll, with the number of defined benefit schemes in the UK that are now closed rising to 25%, says the latest annual pensions research jointly undertaken by research firms, the Pension Fund Partnership ...
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EC launches pensions mobility consultation paper
BRUSSELS- The European Commission has launched a formal public consultation paper aimed at improving the portability of supplementary pension rights. It hopes to tackle existing pensions legislation that hinders the free movement of workers.
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Morley launches Sterling liquidity fund
UK – Morley Fund Management has launched the Morley Sterling Liquidity fund that will invest in the money markets and is designed to allow institutional investors, corporate clients and local authorities to maximise the returns on their excess cash holdings.
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MLIM appoints UK pension fund relationship manager
UK- Merrill Lynch Investment Managers has appointed Steven Blackie as relationship manager for UK pension funds. He will report to Sarah Aitken, head of UK institutional relationship management at MLIM.
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Belgian pension association attacks EU directive
BELGIUM – The Belgian association of pension funds, the ABFP, is the latest institution to criticise the EU directive on pan-European occupational pension schemes. The ABFP believes the development of cross-border funds is not possible without harmonising tax and social security systems.
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New Star hires HSBC's head of alternatives
UK- New Star has hired HSBC’s head of alternative investments Charles Tritton to run its hedge fund business which currently has $700m under management.
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Moon joins LPFA in independent advisor role
UK- The £3bn London Pension fund Authority has appointed its second independent advisor in three months following the publication of Paul Myners’ report.
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Roche picks Watson Wyatt as full service provider
UK – The €620m UK pension fund of Swiss pharmaceuticals group, Roche, has appointed Watson Wyatt as full pension service provider. The deal includes actuarial, administration, investment consulting and communications services. Watson Wyatt take over from previous service providers, Bacon & Woodrow.
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Lattice closes its DB scheme to new members
UK – The £11bn (€17bn) Lattice Group pension scheme, the pension fund of the gas and telecoms infrastructure company, has announced it has closed its defined benefit scheme to new members.
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SRI continues to grow but remains a niche service
UK – Over 50% of UK based fund managers have perceived a growing interest from their pension fund clients in socially responsible investments (SRI), although trustees appear more concerned with protecting their reputations and avoiding criticism, according to the latest Deloitte & Touche SRI survey.
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Extel survey says Fidelity is Europe's top manager
UK/EUROPE- Fidelity Investment Services has been voted the leading pan-European fund management firm for the second year running in the 2002 Thomsom Extel Survey of analysts and investment managers. Capital Group was runner up to Fidelity for a second year while Schroder Investment Management retained third spot.
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EAMA calls for EU law on best execution
EUROPE- Europe’s largest investment managers are pressing for EU regulations on a common approach to best execution in securities trading.
