All IPE articles in November 2002 (Online)
View all stories from this issue.
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News
Half of DB funds under review shut to new members
UK- Over half the companies participating in a study by the consultant Watson Wyatt and reviewing their final salary pension scheme have opted to close it to new entrants.
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Pioneer France names head of institutional clients
FRANCE- Pioneer Investments (France) has appointed Astrid Lubin to the new position of head of institutional clients for France. She will be responsible for the promotion and development of alternative investments and will be based in Paris.
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US private equity firm Advent opens in Spain
SPAIN- US private equity firm, Advent International, is opening an advisory office in Madrid. Jaime Carvajal Urquijo, Juan Díaz-Laviada and Luis Camilleri will be heading up the operation.
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Meridien & CeDo pick JLT for admin and consulting
UK- Hotel group Le Meridien has appointed Jardine Lloyd Thompson (JLT) to provide pension administration services for its new money purchase scheme that is set to provide for around 1,000 of its UK employees by the end of next year.
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BGI launches Europe equity neutral fund
UK - Barclays Global Investors (BGI) has launched a European equity market neutral fund, aimed at hedge fund of fund providers, institutional investors and family offices.
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Aon appoints Wilken in Amsterdam
NETHERLANDS - Aon Consulting has apppointed Bob Wilken as a senior consultant in its Amsterdam office. Formerly, Wilken held management and account management positions at Delta Lloyd NV.
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Warning from IAPF as Irish pensions assets tumble
IRELAND - John Feely, chairman of the Irish Association of Pension Funds (IAPF), has offered a word of warning to those planning saving for retirement, following a survey which shows total assets of Irish pension funds to have fallen to e43bn this year from e50.6bn at the end of 2001.
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Pioneer boosts German sales team
GERMANY - Pioneer Investments is bolstering its international business with four new appointments to its German sales division.
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UK funds' dramatic turn to specialists
UK – UK pension funds are turning evermore frequently to speciality managers, according to a study by Greenwich Associates. Over the past five years, use of specialist managers has more than doubled, from 41% in 1998 to 89% in 2002. The share of total assets managed by specialist managers has ...
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Morley gains e320m mandate from Nationwide
UK- Nationwide Investment Group has appointed Morley Fund Management to run a £200m (e320m) balanced mandate, replacing previous manager Schroders.
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Essex takes specialist route for e2.35bn fund
UK - Essex County Council has restructured its £1.5bn (e2.35bn) pension fund resulting in eight new specialist mandates, and costing Merrill Lynch its balanced active mandate.
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Dundee seeks specialist manager for bond mandate
UK - Dundee City’s £775m (e1.21bn) Tayside superannuation fund is tendering for a fund manager to manage a £93m bond mandate. The scheme joins the latest in a line of UK funds switching from a balanced strategy to a specialist strategy.
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UK pensions minister extends hand to businesses
UK – Work and Pensions Secretary, Andrew Smith, has invited business leaders to form a pensions task force, whereby employers, Government and individuals work together to encourage greater savings.
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Lehman introduces Danish mortgage index
DENMARK - Lehman Brothers is to launch a stand alone Danish Mortgage Index, which will include investment-grade, fixed-rate mortgages denominated in Danish krone.
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Threadneedle in German bond certificate launch
GERMANY/UK – UK fund manager Threadneedle Investments has extended its links into Europe by collaborating with Dresdner Kleinwort Wassserstein to launch a German bond certificate, “Rendite Extra Zertifikat”. The new bond certificate has a total size of e500m and invests in Threadneedle’s Rendite Strategie index, comprising of five of Threadneedle’s ...
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Swiss funds face increasing 'fiduciary risk'
SWITZERLAND - The majority of Swiss pension funds are not adequately geared to face today’s market conditions, reveals a survey by RCP & Partners, European fiduciary rating agency in Geneva. As a consequence, beneficiaries in defined contribution plans are facing increasing fiduciary risk.
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French utilities unions mull pensions protest
FRANCE - France’s energy unions are preparing to strike on November 14 over changes to their pensions system brought about by the forthcoming privatisation of Gaz de France (GdF) and Electricite de France (EdF).
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State Street clinches Deutsche custody deal
GERMANY/US - US bank, State Street Corporation, has signed definitive agreements with Deutsche Bank to acquire its global custody business. The business has assets under custody of approximately e2.2trn, taking State Street’s assets under custody up to almost e8trn. The move will result in State Street becoming the largest custodian ...
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Credit Lyonnais Asset Management names sales head
FRANCE - Credit Lyonnais Asset Management says it has hired a new sales chief from rival Credit Agricole Asset Management.
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FTSE in US exchange traded move
UK/US - Index provider FTSE Group has made an agreement with the American Stock Exchange to develop exchange traded funds based on FTSE indices. They said in a joint statement that they have made an agreement “to promote the creation of ETFs for the U.S. marketplace”.
