All IPE articles in November 2002 (Online) – Page 4
-
News
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.
-
News
UBS Asset Management vice chair retires
UK - UBS Global Asset Management says its vice chairman Crispian Collins is to retire in March 2003.
-
News
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.
-
News
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.
-
News
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”.
-
News
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.
-
News
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.
-
News
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.
-
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.
-
News
AMP warns of asset writedown
Australia - AMP – which via its Henderson Global Investors unit controls 29.21 billion euros in European pension fund assets - has warned that it will reduce the book value of its assets because they are overvalued compared to market values. The move follows AMP’s decision to cut 1,200 jobs ...
-
News
UK: Intelek move prompts funding scrutiny
UK - Pension funds with large shortfalls need to look at new ways of meeting their funding requirements, says Tim Cox, a partner at law firm Linklaters. He was speaking in response to a move by a small UK telecoms equipment maker to grant its pension fund trustees a charge ...
-
News
Deutsche Boerse adds six exchange traded funds
GERMANY - Exchange operator Deutsche Boerse has added six new exchange traded funds to its roster, taking its total ETFs to 86.
-
News
Goldman asset management staff rises 8%
LONDON - Despite what it terms “difficult markets”, Goldman Sachs’ asset management division in Europe now has 8% more asset managers than a year ago, though Goldman was unable to provide headcount numbers.
-
News
US firms face $80bn pension shortfall - report
US - Goldman Sachs estimates that US companies will have to raise their contributions to defined benefits pension plans by 80 billion dollars (79.67 billion euros) per year.
-
News
Bank of Ireland asset chief to retire
IRELAND - The Bank of Ireland’s asset management business – which has 12.94 billion dollars (12.89 billion euros) in European pension funds under management - has said that its chief executive Willie Cotter is to retire and be replaced by Brian Goggin.
-
News
Investec wins mandate as asset profits rise
UK – Financial services firm Investec’s asset management profits rose slightly in the first half – coinciding with news that it has won a 20 million pound (31.4 million euro) balanced mandate in the UK.
-
News
Spain: Lipper sees mutual fund “U-turn”
SPAIN - The total size of Spanish mutual fund assets rose by 1.46% to 171.8 billion euros in October, says research firm Lipper. Lipper says the growth reflects a “U-turn” in stock markets.
-
News
Market falls hit defined benefit plans – report
US - A new report has found that defined benefit pension funds worldwide have been hit by declining capital markets, and that the situation may have “potential balance sheet implications”.
-
News
CalPERS reappoints equity managers
US - CalPERS, America’s largest public pension fund, has reappointed its 15 external active international equity managers and its 11domestic equity managers for a further year, which combined manage approximately 20 billion dollars (20 billion euros) of the fund’s assets.
-
News
Specialists oust Gartmore, Schroders at Worcester
UK - Gartmore Investment Management and Schroders Investment Management are the latest balanced portfolio managers to be dropped by a UK local authority in preference to specialist managers.
