All IPE articles in May 2002 (Online) – Page 6
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News
Northern wins e17bn Varma-Sampo custody contract
FINLAND/UK- The e17bn Varma-Sampo fund has appointed Northern Trust to provide a full range of global custody services including securities lending, cash management, foreign exchange, and web-based reporting and accounting.
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Kas adds €24m from Cedel sale to pension fund
NETHERLANDS – Dutch banking and financial group, Kas Bank, is to use a sizeable portion of the €55m gained in the sale of its share in Cedel International, to reduce its pensions costs, which have risen to represent 16% of the bank’s salary liabilities as a result of falling stock ...
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UBS Foundation enters multi-manager market
SWITZERLAND – UBS Global Asset Management has launched three new multi-manager sub-funds, the BVG range, in the SFr10.9bn (€7.5bn) UBS Foundation, the group’s investment foundation for the assets of its pesnion fund clients.
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WM Universe data show UK funds down 8.9% in 2001
UK- Figures released by the WM company show UK funds fell 8.9% last year, the poorest performance in over a decade. The survey, which covers over 1,000 funds with combined assets of £423bn, shows only one fund produced positive returns in 2001. Nine out of ten were within a range ...
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Lothian seeks manager for e130m mandate
UK- The £1.9bn Lothian pension fund is looking for a manager to oversee a new £80m (e130m) global equity mandate. The decision follows a structural review of the fund last year by consultant Hymans Robertson.
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CIE names replacements for AIB on e1.2bn mandate
IRELAND – The €1.2bn pension fund of the Irish state public transport company, Coras Iompair Eireann (CIE) has appointed Irish Life, Capital International and Bank Of Ireland Asset Management to each run a €400m global balanced mandate.
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VB to publish extensive Dutch fund data from 2003
NETHERLANDS- From next year, Dutch industry wide funds will be asked by the VB to supply details of their contribution levels, the indexation policy of their benefits and the extent of any surplus or deficit.
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Henkel joins new chemical sector fund
GERMANY- The German chemical group Henkel has decided to make the new Chemical sector Pensionsfond available to its German workforce, says the group’s benefits manager Wolfgang Lorz, based at headquarters in Dusseldorf.
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Prins leaves VB for metal fund
NETHERLANDS- Frans Prins is standing down as director of the Dutch association of industry-wide pension funds and taking up a directorship at the Bedrijfspensioenfonds voor de Metaal en Technische Bedrijfstakken, the industry-wide fund for metal and technical sectors.
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UBS and LSE launch 5 year pension research project
UK / EUROPE – UBS Global Asset Management and the London School of Economics (LSE) have launched a new research programme to assess the state of the savings and pensions industries across Europe. UBS will provide financial backing for the five-year project.
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Irish segregated funds fall 5.1% in 2001
IRELAND- Irish pension funds’ segregated accounts fell 5.1% last year according to Mercer Investment Consulting’s combined performance measurement survey (CPMS). The figure compares to a 5.7% drop in Ireland’s institutional pooled pension fund assets
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Scottish Widows appoints head of US business
UK/US- Edinburgh-based asset management company, Scottish Widows Investment Partnership (SWIP) has appointed John Griffith as head if its North American business as part of the firm’s strategy to expand its business in the region.
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NAPF publishes DC guide for trustees
UK – The National Association of Pension Funds (NAPF) has published a new guide for trustees of defined contribution schemes to help them comply with the principles of the Myners review.
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News
Fortis appoints Dexia's Rigoulet
FRANCE – Fortis Investment Management in Paris has appointed Thierry Rigoulet as head of institutional clients for France as part of its strategy to centralise asset management operations in Paris.
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Irish scheme tenders its entire €1.2bn fund
IRELAND- Ireland’s transport workers’ pension fund Coras Iompair Eirann (CIE) is reviewing its investment manager set up and has tendered for managers to run its entire asset pool of €1.2bn.
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Mercers launches online custody database
UK- Mercer Investment Consulting has launched an internet-based global custody database that it says will produce a more up to date and efficient source of information for pension plans, foundations and investment managers.
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Median fixed income outperforms equities by 20%
GLOBAL – Fixed income markets have outperformed equity markets for the second year in succession, according to research by Standard & Poor’s. Median returns for bonds ranged from -0.9% to 4.5%, against a fall of 21% in sterling terms (24% in dollar terms) for the median global equities fund.
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FIS buys Royal & SunAlliance Investments for €389m
UK – London-based fund management group, Friends Ivory & Sime (FIS) is to acquire Royal & SunAlliance Investments (RSI) Group, the UK asset management business Royal & SunAlliance Insurance Group (RSA) with £36bn (€58.2bn) under management, for £240m (€389m). The deal effectively doubles FIS’s assets under management from £34bn ...
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Alsma named as general secretary of OPF
NETHERLANDS – Meindert Alsma has been named as the new general secretary of The Hague-based OPF, the Dutch pension fund association, following the departure of Nico Obolonsky who left the association in March to concentrate on his career in insurance.
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Jobling is new CAPS UK and Europe marketing head
UK- Information provider Russell/Mellon CAPS has appointed Richard Jobling to the newly-created position of head of sales, marketing and relationship management for UK and Europe.
