All IPE articles in November 2003 (Online) – Page 3
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News
New UK firm to provide analysis to pension funds
UK – A handful of high-profile UK investment experts have formed a new venture aimed at providing long-term strategic equity analysis to pension funds and large fund managers.
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Funded systems better for economy – Deutsche
EUROPE – A new report from Deutsche Bank argues that countries with funded pension systems are at an advantage as populations get older.
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Lane Clark & Peacock earns E2.6m profit
UK – UK actuarial consulting firm Lane Clark & Peacock made a profit of 1.8 million pounds (2.6 million euros) in the six months to the end of September, figures from its parent company show.
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Cardiff fund taps SSGA for active equities
UK – The 502 million-pound (731 million-euro) Cardiff & Vale of Glamorgan pension fund has appointed State Street Global Advisors to manage an active equity mandate.
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HSBC tops new R&M survey of trustee banks
UK – R&M Consultants have released the results of its first survey of trustee and depositary banks – which shows that HSBC is the top choice of investment managers.
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Dutch fund tenders fixed income via IPE-Quest
NETHERLANDS – A Dutch pension fund is looking for managers for two fixed income mandates via IPE-Quest.
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Ireland’s NTMA reviewing Putnam mandate
IRELAND – Ireland’s National Treasury Management Agency, which oversees the eight billion-euro National Pensions Reserve Fund, is reviewing its mandate with troubled Putnam Investments.
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AXA Group’s assets rise in first nine months
FRANCE – AXA Group’s assets under management have increased over the last nine months, but revenues for its asset management subsidiaries are still down.
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UK’s Centrica fund taps Mercer in revamp
UK – Services group Centrica has appointed Mercer Investment Consulting to replace Watson Wyatt as scheme advisors in a revamp of its 2.1 billion-pound (2.9 billion-euro) pension scheme.
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Germany’s lower house passes hedge fund law
GERMANY – The German hedge fund market looks set to open up following the passing of a new law by the German parliament’s lower house, the Bundestag.
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Maersk pension U-turn met with delight
UK – Shipping company Maersk has announced it has decided to meet the full deficit of the Sea-Land Services pension plan in a move which represents a dramatic U-turn.
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P&G’s UK fund retains State Street for custody
UK – The 450 million-pound (651 million-euro) Procter & Gamble pension fund has re-appointed State Street as its global custodian.
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Euraplan unveils software for small schemes
UK – Software firm Euraplan has launched a 495-pound (717.5-euro) software package for small and medium-sized pension schemes.
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PWC hires from Mercer, Towers Perrin
UK – Consulting firm PricewaterhouseCoopers has made six human resources appointments, including new hires from Mercer and Towers Perrin.
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UK’s GAD uncertain about client payments
UK - The Government Actuary’s Department says it has trimmed spending due to uncertain client payments.
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EDF’s UK arm sets up new DB scheme
UK – EDF Energy, the UK arm of Electricité de France formerly known as the London Electricity Group, has “bucked the trend” by launching a new defined benefit scheme for its employees.
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UBS says it gains E4bn in institutional assets
GLOBAL – UBS added 6.3 billion Swiss francs (four billion euros) in institutional assets under management in the third quarter of this year.
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Hewitt global DC head testifies on market timing
US – The global head of Hewitt Associates’ defined contribution business has submitted testimony to a Senate investigation of mutual fund trading abuses.
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Dexia sets up Belgian sustainable fund
BELGIUM – Dexia Asset Management has set up a new sustainable equity fund, the Paricor E10, for Belgian institutional investors.
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Credit Suisse opens Moscow office
RUSSIA – Credit Suisse has expanded its activities to Russia, opening a new office in Moscow to serve clients investing internationally.
