All IPE articles in November 2002 (Online) – Page 4
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News
Powys awards co-managers for equity portfolio
UK – The Welsh County Council of Powys’ 160 million pound (251.5 million euro) pension fund has appointed AllianceBernstein and AXA Rosenberg to jointly manage its global equity portfolio, after Baring Asset Management (BAM) was dropped in January.
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UK to release pension proposals on November 27
UK - The UK government’s proposals on pension reform – in a so-called Green Paper - will be released on Wednesday November 27, according to a spokeswoman at the UK Treasury.
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WestLB launches hedge fund
UK - German bank WestLB’s asset management arm has made its first foray into the hedge fund market with the launch of an absolute return fund that it expects will generate “significant” returns in excess of cash.
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Germany to set 15% tax on investment gains
GERMANY- German investors could find themselves facing a flat rate 15% capital gains tax on domestic equity and real estate investments. German finance minister Hans Eichel proposed the rate during coalition talks between the Social Democrats and the Green Party on Sunday evening.
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UK to tweak investment rules
UK - The UK Financial Services Authority is to introduce a series of changes to rules governing the interests of investors in investment companies, including investment trusts. An FSA spokesman says the move is in “reaction to pressure resulting from the split-capital trust issues” and will be “fast-tracked through”.
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Martin Currie wins e70m Daimler mandate
UK/GERMANY - US/German industrial group DaimlerChrysler’s pension fund has appointed Edinburgh-based Martin Currie to manage a new 70 million euro Japanese long-only equity mandate, adding to the 627 million euros of new business Martin Currie has won since the beginning of October.
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Allianz Dresdner boosts alternative offering
UK - Allianz Dresdner Asset Management says it has formed a single manager hedge fund division in a bid to boost its alternative investment business.
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UBS Asset Management vice chair retires
UK - UBS Global Asset Management says its vice chairman Crispian Collins is to retire in March 2003.
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State Street launches European real estate fund
US - State Street – via its Tuckerman division - has launched a European real estate index fund that is designed to replicate the EPRA real estate index. The fund has seed funding from Dutch pension insurance firm Optas Pensionen NV.
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Pioneer completes Momentum acquisition
ITALY - Unicredito Italiano’s Pioneer Global Asset management unit has completed its previously announced 110 billion dollar (109.6 million euro) acquisition of hedge fund company momentum group. Pioneer says the move strengthens its position in the alternative investments market.
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Philippe hires ex-Merrill Europe equity executive
UK - Philippe Investment Management has hired former Merrill Lynch Investment Management European specialist equity chief Consuelo Brooke, with Brooke taking a 5% stake in the company.
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FTSE to launch Barclays’ European ETFs
UK - Index provider FTSE Group is to launch eight tradable indices that will go live with Exchange Traded Funds issued by Barclays Global Investors’ iShares division.
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Finland: discretionary management to rise
FINLAND - Around 20% of Finnish institutional investors say they will increase their use of discretionary and mutual fund management by the end of 2004, according to an industry report released in November by Scandinavian Financial Research (SFR).
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AWARDS FEATURE - managers discuss fees
AMSTERDAM - Low management fees are not necessarily the best management fees, believe senior managers at some of Europe’s top pension funds. Addressing pension market professionals at a seminar at the IPE annual awards in Amsterdam on Wednesday, the panel of five gave their opinions on how to control investment ...
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MLIM faces another UK mandate loss
UK - Merrill Lynch Investment Management risks losing its third mandate in a month with the north-west London local authority of Harrow putting out to tender a 90 million pound (141.14 million euro) global equity mandate which it currently manages.
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BGI tops Mercer’s European pension listing
EUROPE - Barclays Global Investors ranks first in terms of European pension fund assets under management, according to Mercer Human Resource Consulting. The UK/US based fund manager has a total of 147.9 billion euros in segregated and pooled European pension fund assets.
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AP3 and Boots win top IPE awards
NETHERANDS - Sweden’s AP3 and the UK’s Boots were named the best European pension funds for their investment strategy at the second annual IPE European pensions industry awards last night in Amsterdam.
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KAS wins Johnson equity custody mandate
UK - The 110 million pound (173 million euro) pension scheme of UK textile rental and dry-cleaning company Johnson Group has appointed KAS BANK N.V. as custodian to its global segregated equity mandate, managed by Wellington Management International.
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AWARDS FEATURE- Europe's top managers on strategy
Senior managers at some of Europe’s top pension funds agree on one thing: that they are investing for the long term, though they differ on how to achieve their aims in terms of how they manage their funds, allocate assets and monitor their absolute returns. The executives were speaking at ...
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Euronext announces complete restructure
EUROPE- Pan European exchange Euronext has announced a complete restructuring that will see it divided into four separate business units.
