Latest – Page 347
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European CIOs see assets rising in 2003
EUROPE – Eighty percent of European chief investment officers surveyed by US risk measurement firm Barra are positive that assets under management will increase over 2003.
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Henderson names UK institutional marketing head
UK – Henderson Global Investors has appointed two former J P Morgan Fleming Asset Management employees to its UK institutional marketing team.
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Invesco wins Leica DC pension business
GERMANY – Optics firm Leica Microsystems in Frankfurt has chosen Invesco Retirement to provide a defined contribution pension plan for its 1,300 employees in Germany.
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Calpers seeks hedge fund boost
US – Investment staff at Calpers, the world’s second largest pension fund, are to recommend that the fund raise its one billion dollar (930 million euro) allocation to hedge funds when the fund’s investment committee meets in June.
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Finland’s Varma sees higher-than-inflation yield
FINLAND – The largest Finnish pension insurer, Varma-Sampo, sees its average yield rising to 3%-4% higher than inflation – the prediction came as it reported a 1.9% yield on investments in 2002.
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Credit Lyonnais’ asset management profits slip
FRANCE – French bank Credit Lyonnais’ asset management business saw its 2002 net profits fall 5.6% to 203 million euros.
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PPI warns of serious crisis in UK pensions
UK – The UK state pension system has come under fire from the Pensions Policy Institute research organisation, which warns that “a serious crisis is looming”.
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Sweden’s AP3 records 12.6% negative return
SWEDEN – Citing the continued downturn in equity markets, Tredje AP-fonden, the third national Swedish pension fund or AP3, has recorded what it has termed a “painful” negative return of 12.6% for 2002.
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TPG surprised at S&P pension rating
NETHERLANDS – TPG, the Dutch logistics firm, has said it is surprised to be one of the companies put on credit watch by ratings firm Standard & Poor’s because of unfounded pension liabilities.
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Dutch SNT names TKP as administrator
NETHERLANDS – The newly established corporate pension fund for Dutch customer relationship management firm SNT has appointed TKP Pensioen as its administrator.
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Skandia chief Ramqvist resigns
SWEDEN – Lars Ramqvist has resigned as chairman of troubled Swedish insurer Skandia following a year in which operating profits almost halved.
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40% of PE fund of funds managers under threat
GLOBAL – Rapid growth in the private equity market may spell good news for fund of funds managers, but only those offering distinct strategies will last the duration, according to a report by London-based private equity research firm AltAssets.
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PwC sees four priorities for UK pension system
UK – PricewaterhouseCoopers has suggested that there are four pension issues that need to be addressed by the government - better financial education, greater simplicity, fewer tax complications and improved age discrimination.
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SEI wins e45.4m global equity mandate from AEP
UK – AEP Energy Services Generation Ltd.’s pension fund has appointed manager of managers SEI Investments to run a 30 million pound (45.4 million euro) global equity mandate.
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HSBC sets up trustee advisory service
UK – HSBC’s actuarial consultancy arm has launched a service to advise pension fund trustees in the wake of the Myners report.
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OECD to look at pensions supervision
EUROPE - The Organisation for Economic Cooperation and Development's Private Pensions Working Party is to look at member states’ pension supervision within the next few months, says its new chairman Ambrogio Rinaldi.
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GE Life outsources UK property to Credit Suisse
UK/US - GE Life, part of US-based GE Financial, has decided to outsource the management of its 540 million pound (814 million euro) property portfolio to Credit Suisse Property Investment Management (CSPIM), the UK property arm of Credit Suisse Asset Management.
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France formalises e13bn reserve fund outsourcing
FRANCE - The French government has set the ball rolling on one of the world’s largest institutional RFPs with the formal naming yesterday (February 6) of the executive committee that will administer the 13 billion euro French pensions reserve fund (Le fonds de réserve).
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ABP hails “very rewarding” tie with SSgA
NETHERLANDS – Stichting Pensioen Fonds ABP, Europe’s largest pension fund, says its two-year partnership with State Street Corp. in the State Street Global Alliance has proved “very rewarding”.
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Deutsche buys Swiss asset manager
GERMANY/SWITZERLAND – Deutsche Bank has announced that it will be wholly acquiring Swiss private bank and asset manager, Rued, Blass et Cie. from its parent company Zurich Financial Services.
