All IPE articles in November 2003 (Online) – Page 5
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News
Mercer buys Nordic consultant Benefit Network
NORDIC – Mercer Human Resource Consulting is expanding in Norway and Sweden, having entered definite agreements to acquire parts of Benefit Network ASA and Benefit Network Consulting AS.
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S&P boosts benchmarking with Smith Barney buy
GLOBAL – Standard and Poor’s has bought the Smith Barney global benchmark index business from Citigroup – a move it said hailed a shakedown in the industry.
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Norges Bank sees lower rates’ pension impact
NORWAY – The head of Norway’s central bank says that lower interest rates may mean higher allocations to pension funds.
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Putnam reaches agreement with SEC
US – Putnam Investments has reached agreement with the Securities and Exchange Commission over its alleged failure to control the market timing activities of some of its staff.
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Ireland: PRSA assets top E5mn
IRELAND – The total assets in Ireland’s new personal Retirement Savings Accounts have topped five million euros.
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Trustees need help on SRI fund managers – enquiry
UK - Pension trustees should be helped to choose fund managers who have strong records in shareholder activism and performance – that’s one of the findings of a probe into the future of UK investment.
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Alternatives group Fortress expands into Germany
GERMANY – US alternative investment firm Fortress Investment Group is expanding into Germany, appointing Matthias Moser to head up the move.
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Gartmore names top currency manager
UK/NORDIC – Gartmore Investment Management has appointed Cameron Crise as senior investment manager in its currency team.
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European pension funds stick with alternatives
GLOBAL – European and North American pension funds remain committed to alternative investments, according to Goldman Sachs and Russell.
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State Street names pension accounting head
UK – State Street has appointed Jerry Neudegg as head of its pensions accounting team in London, a new role.
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New European Parliamentary Pension Forum meets
EUROPE – The European Parliament has set up a pension forum, backed by Dutch civil service pension fund ABP.
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Actuarial firm Morgan joins Milliman network
EUROPE - Actuarial firm Morgan Consulting has signed an agreement to become a Milliman Global member.
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IPD unveils new Nordic property index
NORDIC – IPD, or Investment Property Databank, has published the first results from its Nordic property index, showing increasing real estate investment in the four Nordic countries.
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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.
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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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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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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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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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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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PWC hires from Mercer, Towers Perrin
UK – Consulting firm PricewaterhouseCoopers has made six human resources appointments, including new hires from Mercer and Towers Perrin.
