All IPE articles in May 1997 (Magazine) – Page 2
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Features
German firms lag on costs
German companies may be handicapped in labour competitiveness because of pensions costs, according to figures from international consultants.Watson Wyatt Investment Consulting has produced a country-by-country comparison of the average return companies obtain from pension investments (see figure 1), which gives German companies and German-based subsidiaries the most to worry about.Mark ...
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Features
Europe: Finding common ground
Common trust funds (CTFs) are being used more and more by multinationals operating in Europe who want to bring their pensions assets together in one vehicle. They are offered mainly by US banks and often go by the name of ‘bank common trust funds’. State Street in the US is ...
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Features
Comment: MSS stays in the leadership race
Another European player aims to ensure that US banks do not dominate the custody stakes, writes Bob Crew
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Features
Colossus of public pension finances
French giant CDC looks after the retirement arrangements of over 5m public sector workers. Fennell Betson meets the man in charge
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Features
Prime's candidates
In the first quarter, we began a gradual reduction of our position in equities and an increase in the share of bonds. We are now underweighted in equities and overweighted in bonds as compared to international benchmarks. The reasons for this follow.We are underweighted in the US. We think the ...
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Features
BT's defensive strategy
We continue to see an extended cycle of moderate world growth and low inflation. The global economy is out of sync: the US is leading the growth cycle and Japan, Europe and Asia are lagging. We expect the US to slow in response to tightening monetary conditions in 1998 but ...
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Features
BGSS boost for Morgan Stanley
US custodian bank Morgan Stanley has strengthened its hand in Europe with its acquisition of the global custody business of Barclays Global Securities Services (BGSS). Morgan Stanley netted $250bn of BGSS assets which brings its global franchise to some $390bn.Morgan’s European chairman Sir David Walker says the US bank’s European ...
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Features
Multinationals outline benefits plans
Akzo Nobel, the chemicals multinational, plans to set up a common investment fund for its European pensions arrangements. Discussing the company’s plans Bert Kiffen, co-ordinator international pensions affairs, said: It is our view that with a single currency, one investment fund will be possible.” The scheme is still at the ...
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Features
Flexible benefits 'sweetener'
Giving mobile employees appropriate salaries as they move from country to country rarely poses a problem for an employer.The provision of benefits - especially those such as pensions - can be far more difficult. Local laws often make it impossible for the employee to remain in the home country” pension ...
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Features
What the Belgian doctor ordered
In three years, the pension scheme for Belgian doctors and dentists has been transformed, writes Fennell Betson. No one said it was going to be easyWhen the pension scheme for doctors and related professions in Belgium switched from a pay-as-you-go to a funded basis, it broke moulds. Brussels-based Caisse de ...
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Features
Selection: Lining up for the beauty parade
Advisers involved in fund selection in the UK, Germany and Switzerland agree that there is no single set of criteria and that any process must start by assessing client needs.Ed Wilson, head of investment re-search at HSBC Gibbs in Manchester, explains the process: The first thing we do is take ...
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Features
BAT looks to boost global performance
In 1995, the tobacco and financial conglomerate, BAT Industries decided to develop a corporate pensions function,” appointing Simon Dudley - who had worked in a similar role at Unilever - as its pensions and benefits manager. Dudley, recently promoted to head of group personnel, has begun to implement an international ...
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Features
Austria; Swing to mutuals
The mutual fund industry in Austria began in 1956 with the launch of SELECTA, an international equity fund. That, though, was probably the high point for equity fund investment as far as Austria is concerned.As a nation, Austria has one of the lowest risk tolerances in Europe and, currently, one ...
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