All IPE articles in November 2003 (Online) – Page 6
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News
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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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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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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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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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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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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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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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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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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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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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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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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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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FEFSI sees no evidence of market timing in Europe
EUROPE – The European investment fund industry trade body FEFSI says there is no evidence of US-style market timing problems in the European market.
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SWIP boosts UK equity fund team
UK – Scottish Widows Investment Partnership has expanded its UK equity fund management team with the addition of two senior members.
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Swiss Life Asset Management sold
UK – Bond broker King & Shaxson has announced that it is to acquire Swiss Life Asset Management UK for an undisclosed sum.
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Report sees Danish pension consolidation
DENMARK – Further consolidation of the Danish pensions sector - and a trend towards specialised managers – are two trends identified by Kirstein Finans in a new report.
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Hewitt's global consulting revenues rise 22%
GLOBAL - Hewitt Associates' net consulting revenues rose 22% in the 2003 fiscal year, driven by the acquisition of Bacon & Woodrow in 2002.
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Swissca says chief executive von Ah leaves
SWITZERLAND – Swissca Portfolio Management’s chief executive Roman von Ah has left with immediate effect, the company said in a statement.
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Commission sets up occupational pension groups
EUROPE – The European Commission has set up occupational pensions regulatory and supervisory committees as part of a series of measures to help it respond to developments in the financial sector.
