All IPE articles in November 2002 (Online) – Page 5
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News
ABP says funds need longer investment horizons
NETHERLANDS- Jean Frijns, CIO of Europe’s largest pension fund, the 146 billion Euro Heerlen-based ABP, today opened the seminar for the second annual IPE Awards with a warning to pension funds that extreme market events are becoming more frequent - resulting in greater short-term volatility and a need for longer ...
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German pensions: Allianz takes 20%
GERMANY - Insurer Allianz says it has a market share of 20% in Germany’s state-funded pension market – although take-up by private individuals remains “slow”.
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Beerling takes top pensions admin job at SFB
NETHERLANDS- The administration arm of Dutch financial services company SFB Groep has named Frans Beerling as its new director following the death of Joop van Wees earlier this year.
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GSAM names new fixed income and currency boss
EUROPE- Goldman Sachs Asset Management has named Philip Moffitt as the new co-head of the London-based global fixed income and currency team alongside Andrew Wilson. Moffit joined Goldman Sachs three years ago as a senior portfolio manager in the currency team.
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European funds using more US managers
EUROPE - European pension funds are using more non-domestic managers – in particular US-based ones, according to a report by Mercer Human Resource Consulting. Of the top 20 managers of European pension funds, 15 listed the US as one of their home countries.
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ABP investment chief to speak at IPE Awards
Amsterdam – The chief investment officer of Europe’s largest occupational pension fund is the featured speaker at the IPE Awards in Amsterdam on Wednesday November 13. The theme of the event is “Living in turbulent times.”
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UBS Q3 asset management profits tumble
SWITZERLAND - UBS’s asset-management arm’s profits more than halved in the third quarter, hit by falling asset values and declining fees.
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Dresdner wins e45m HBG Asian mandate
NETHERLANDS - Holland Beleggings Groep (HBG), subsidiary of insurance giant Zwolsche Algemeene, has appointed Dresdner RCM to manage its 45 million euro Asian equity mandate. The fund was formerly managed by Lombard Odier.
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Belgacom eyes mandate and management change
BELGIUM - The pension fund of Belgium’s telecommunications provider, Belgacom SA, has announced that it will be looking for fund managers in the near future. The nature of the mandate(s) has not yet been decided, but the tender(s) is/are expected in the coming months.
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Worldwide funds fall 1.6% in Q2 - report
EUROPE - Global investment fund assets declined 1.6% at the end of the second quarter - though the fall was "moderated" by the weakness of the US dollar, according to data compiled by the European investment fund industry's umbrella organisation Fefsi.
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Former Dresdner chief joins UK's Isis
UK - Isis Asset Management says it has hired a former senior executive at Dresdner Kleinwort Wasserstein as its new head of institutional funds.
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TotalFinaElf hires Hewitt Bacon for new scheme
UK - French oil company TotalFinaElf has hired consultants Hewitt Bacon and Woodrow to act as advisor on its newly merged 1 billion pound (1.57 billion euro) UK pension fund. Financial terms of the deal were not disclosed.
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Accenture sees hole in UK pensions take-up
Consultancy firm Accenture has identified what it calls a "massive hole" in the take-up of pension in the UK - a hole which could present a sales opportunity for banks.
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Norges Bank sets $1.25bn equity RFPs
NORWAY- Norges Bank Investment Management, overseer of the 85 billion dollar (84 billion euro) Norwegian petroleum fund, has announced equity request for proposals, or RFPs, worth a combined 1.25 billion dollars.
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Pension funds shun domestic stocks - report
EUROPE - Pension funds are moving away from investing in domestic equities, says research group Greenwich Associates. And what it calls a “global standard” of investment management methods is emerging.
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Bonde named head of Sweden's FSA
SWEDEN - The Swedish government has named Ingrid Bonde as head of the Financial Supervisory Authority. She faces what the government termed "serious challenges".
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CREF chiefs vote to reject transparency
Board members at CREF, the 106 billion dollar (105 billion euro) investment component of US teachers’ retirement fund TIAA-CREF, have voted against disclosing how their own votes are cast on social and environmental issues - a move which could be seen to compromise TIAA-CREF’s reputation as an advocate of good corporate governance.
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ABB to inject $200m into pension fund
SWITZERLAND - Swiss/Swedish power and automation technologies provider ABB Ltd says it will inject 200 million dollars (198 million euros) into its pension fund by the end of the year.
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Pension woes to hit Belgian companies
BELGIUM – Some of Belgium’s biggest companies are faced with a pensions shortfall which could hit their 2003 results due to a pension plan adjustment, says Belgian asset manager Puilaetco.
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Britannic Asset Management names UK equities head
UK - Britannic Asset Management has appointed Kevin Fenelon as its investment director of UK equities. Fenelon is currently head of UK large cap investments at Britannic and will continue to oversee the business.
