Latest – Page 346
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Unigestion swings to profit, goes private
SWITZERLAND - Swiss alternative investments firm Unigestion – reporting a swing to profit in 2002 - is to take itself into private ownership.
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Dutch pension funds buy e20bn of equities
NETHERLANDS – Dutch pension funds bought eight billion euros worth of bonds and 20 billion euros in equities in 2002, according to government statistics.
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UCITS now 78% of European fund market
BELGIUM – UCITS, or Undertakings for Collective Investment in Transferable Securities, now account for almost 78% of the European investment fund market, according to new data from the European Federation of Investment Funds and Companies, FEFSI.
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UK e1bn council pension fund names actuary
UK – The 700 million pound (1.02 billion euro) Dorset Council Pension Fund in southern England has appointed a subsidiary of South Africa’s Sanlam to provide actuarial services.
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ECB rate cut raises pressure on pension funds
EUROPE – The European Central Bank’s quarter-point rate cut today is likely to increase the pressure on pension funds, analysts said.
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Pioneer to offer hedge funds in UK
UK – Pioneer Investments, UniCredito’s fund management arm, is to offer its range of hedge funds to UK institutional investors.
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Io Investors makes hires in UK push
UK – Manager of managers firm Io Investors, part of South African financial services group Sanlam, has hired Old Mutual’s head of research as part of a UK push.
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"Surprise" UK funds’ bond weighting
UK – UK corporate pension funds were 24% weighted towards bonds in 2002, according to a new survey by insurance broker and employee benefits firm Jardine Lloyd Thompson – it called the findings “surprising”.
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Dutch pension coverage law under scrutiny
NETHERLANDS – Representatives of Dutch employers and employees have written to the government seeking a change in the law regarding pension fund coverage ratios.
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UBS wins top European fund award
LUXEMBOURG – Swiss bank UBS has been named the “best overall” European fund promoter in the second annual European Funds Awards.
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Spanish occupational pension assets up 12.3%
SPAIN – The assets under management at Spanish occupational pension schemes rose 12.31% to 21.15 billion euros at the end of 2002, according to figures released by Inverco, the Spanish association of institutional investors and pension funds.
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London exchange chief slams tax on pension funds
UK – Chancellor Gordon Brown’s five billion pound (7.3 billion euro) tax on dividend income paid by pension funds has been described as a threat to the position of the City of London – the UK’s financial heartland - by London Stock Exchange chief executive Clara Furse.
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Law Debenture’s net asset value falls 23%
UK – UK-based trustee services and investment trust firm Law Debenture Corp. has seen its net asset value decline by 23.5% to 170.5 pence (250 euros) per share in 2002, compared to 222.9 pence (326 euros) in 2001.
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Allianz corporate pension business up 37%
GERMANY – German life insurer Allianz Leben has seen its new premiums from corporate pension business rise almost 37% to 850.6 million euros.
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UK schemes adopt Myners principles - NAPF
UK – Paul Myners’ recommendations on institutional investment are being adopted by the majority of UK pension schemes, reveals a survey by the National Association of Pension Funds (NAPF).
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Ansbacher in European multi-manager push
EUROPE – Ansbacher is making a push into the growing European multi-manager market and has hired Jeremy Beswick to spearhead the offensive.
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Drop in Swiss pension performance index
SWITZERLAND - The Swiss Pension Fund Performance Index, which measures the performance of 57 Swiss pension funds, fell from 98.3% to 90.5% last year.
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Pensions and savings ‘not in crisis’ says UK Govt
UK - The UK government has denied suggestions that Britain is facing a pensions and savings crisis, responding to questions in the House of Lords.
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Sweden's AP1 announces double-digit loss for 2002
SWEDEN – AP-1, the 117.1 billion Swedish krone (12.8 billion euro) first Swedish national pension fund, has posted a loss of 13.8% for 2002, and has announced changes to its asset allocation following an ALM study....
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UBS to set up holding company
EUROPE – Swiss bank UBS is to create a holding company to incorporate its five independent private banks and GAM, its specialist portfolio and asset manager - together they run 70 billion Swiss francs (47.6 billion euros) in assets on behalf of their clients.
