All IPE articles in June 2002 (Online) – Page 4
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News
UK companies have saved £4bn from DB closures
UK- Companies have saved themselves more than £4bn by closing generous final salary schemes according to the Trades Union Congress, the body responsible for over 7m UK workers.
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Portuguese schemes have yet to shine in 2002
PORTUGAL- New figures published by the consultant Watson Wyatt show Portugal’s pension funds have registered a weak start to the year after making up some of the ground on last year’s poor returns.
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Willis joins forces with ABN Amro and Alfred Berg
DENMARK- Benefit consultant Willis Denmark has signed an agreement with Alfred Berg and ABN Amro Asset Management in a move that gives its unit link clients access to tactical and strategic asset allocation. Willis says the agreement is designed to offer a more comprehensive and sophisticated product.
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Three institutions launch RFPs worth a total $190m
GLOBAL- A continental European insurance company is looking, via the electronic manager search system IPE-Quest.com, for a manager to oversee a $100m corporate Eurodollar debt mandate.
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ill health forces Dunn to step down as BGI CEO
US/UK – Barclays Global Investors (BGI) have announced the appointments of Blake Grossman and Andrew Skirton as Co-Global CEOs following the decision of Patricia Dunn to step down as Global CEO.
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Eastern European funds are up 55% in one year
EUROPE- Funds investing in eastern Europe and emerging European countries have enjoyed runaway returns in the twelve months to May. Figures from rating agency Standard & Poor’s show the S&P East Europe Index and the S&P Emerging Europe index up a respective 55% and 26% in dollar terms in the ...
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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.
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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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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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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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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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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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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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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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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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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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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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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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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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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.
