All IPE articles in May 2002 (Online) – Page 2
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News
Riester reforms need simplifying to attract savers
GERMANY – Only 1.9m people of a potential 31m have taken out a new private Riester pension plan since they were introduced at the beginning of the year, prompting criticism in the German asset management and insurance industries that the Riester reforms are not working, says German daily financial newspaper, ...
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Duke Street expands in Germany with new hires
UK / GERMANY – London-based pan-European fund management group, Duke Street Capital, has appointed Ervin Schellenberg as director in charge of its German private equity business. Duke Street now has teams working in the private equity markets of France, Germany, Spain and the UK.
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Manduca to run Morley's new alternatives division
UK- Morley fund management has named Philip Manduca as head of its new alternative investment division which already has e3.2bn in private equity and hedge funds.
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BoNY to administrate Skandia's multi-manager funds
UK- Skandia Multi Manager funds has appointed the Bank of New York to provide administration, accounting and transfer agency services.
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FIS loses institutional director to Goldmans
UK – Paul Richards, the director of institutional business at London-based asset management group, Friends Ivory & Sime (FIS), is leaving the firm to become part of the business development team at Goldman Sachs Asset Management (GSAM).
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East Sussex allocates 3% to private equity
UK – The £1.2bn (€1.9bn) East Sussex County Pension Fund is allocating 3% of its assets to private equity, tendering the mandates currently managed by Gartmore, including a passive portfolio, and replacing them with a single global active mandate. The move follows its three-yearly actuarial valuation undertaken by Hymans Robertson. ...
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News
UK council funds turn to specialist managers
UK – Local authority pension funds in the UK, which together represent some £90bn (€142bn), are increasingly turning to the use of specialist managers, particularly for fixed income, according to Pensions Investment Research Consultants (PIRC) in its latest annual local authority pension fund yearbook.
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Watson Wyatt publishes latest benefits report
UK- Watson Wyatt has announced the launch of two reports, one covering benefits in western Europe, Canada and the USA and another monitoring employment terms and conditions in western Europe.
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News
Edinburgh Investment Trust in €2.2bn RFP
UK – The £1.4bn (€2.2bn) Edinburgh Investment Trust (EIT) has put the contract to manage its assets out to tender. The action is the result of uncertainty in the relationship between the trust and its current managers, Edinburgh Fund Managers (EFM)...
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Länsförsäkringar CFO sets up new alternatives firm
SWEDEN – Bo Ennerberg, the chief financial officer of Stockholm-based asset management company, Länsförsäkringar, has left the company to start his own alternative asset management company. Only property is now managed inhouse at Länsförsäkringar...
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North Yorkshire drops Invesco from €268m mandate
UK – The £730m (€1,152m) North Yorkshire Council pension plan is looking for managers for a £170m (€268m) balanced mandate. A spokesman for North Yorkshire says the mandate, currently managed by Invesco, is under review since the fund’s investment committee is not “entirely satisfied” with Invesco’s performance.
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Man buys alternatives manager RMF for $833m
UK/SWITZERLAND- Man Group, the asset manager and broker, has announced it is buying the Switzerland-based alternative investment manager RMF for $833m. RMF is one of Europe’s largest alternative investment managers with $8.5bn in assets under management.
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MLIM loses £3bn UK institutional assets this year
UK – The UK arm of Merrill Lynch Investment Managers has admitted losing £3bn (€4.7bn) of institutional business this year in the UK but claims the losses are the result of the trend by pension funds towards specialised asset management and away from Merrill’s main product range- pooled funds.
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News
Mercers- funds should scrutinise custodians more
UK- Occupational pension schemes should pay closer attention to custody and the security of their assets according to Mercer Investment Consulting’s response to the latest government consultation document on independent custodians.
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Lindstrom branches out into portfolio management
SWEDEN- Swedish Consultant Bohman & Lindstrom, formerly known as Lindstrom & Partners, is broadening activities from straightforward advisory services and taking more responsibility for client’s portfolios with the launch of what it calls PAF, or Portfolio Assembling Factory.
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UK woman loses test case against government
SOUTH AFRICA/UK- A British pensioner living in South Africa has lost a test case against the Secretary of State for Work and Pensions to instate an annual increase in the rate of all expatriates’ pensions in line with inflation.
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UK Council drops MLIM from e790m mandate
UK- Bath & North East Somerset Council's £1.7bn pension fund has added to Merrill Lynch Investment Management’s woes by dropping it from a £500m (e790m) mandate. A spokesman for the fund stressed that the replacement was result of an ALM study and restructuring and not primarily for underperformance although they ...
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News
Threadneedle restructures insurance AM business
UK – Threadneedle Investments has restructured its £800m (€1,261m) insurance asset management business into a fully-integrated division. The London-based business was formerly known as Scudder Insurance Asset Management before its US based parent company, Scudder was acquired by Zurich.
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New venture to bring managers closer to clients
UK / EUROPE – Former Schroders marketing director Brian Wood has formed a new institutional fund manager events company, Right Angle Partners, to promote greater interaction between investment managers and their clients. The development is aimed at institutional investors and managers across Europe and the US.
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Norges issues vast $5.5 bn equity RFPs
NORWAY- Norges Bank Investment Management (NBIM), overseer of the $75bn Norwegian petroleum fund, has announced a $5.5bn equities RFP with the initial tender process being run through the IPE-Quest electronic manager selection system at http://NBIM.IPE-Quest.com.
