All IPE articles in November 2004 (Online) – Page 2
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New Italian institutional fund launched
ITALY - Italian asset manager Arca SGR has launched a mutual fund to meet the needs of institutional investors called Anfiteatro – MultiInvestmentFund.
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UK accountants want ‘root & branch’ IAS19 reform
UK – The new international pension accounting standard IAS19 needs “root and branch” reform, says Eric Anstee, chief executive of the Institute of Chartered Accountants in England and Wales.
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Doubts over European long-only equity - survey
EUROPE - European institutions including pension funds have expressed doubt about asset managers’ long-only equity returns in the future, according to a new survey organised by alternative investment groups.
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State Street downgraded by Fitch
GLOBAL - State Street Corp. has been downgraded by rating agency Fitch, which cited the volatility of the company’s business mix and the challenges of business expansion.
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New CEO named for Chemie Pensionsfonds
GERMANY - Chemie Pensionsfonds AG, the pension fund for the German chemical industry, has appointed Martin Großmann as its new chief executive, effective immediately.
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ATP's private equity arm sees strong deal flow
DENMARK - ATP Private Equity Partners, a subsidiary of the 27 billion-euro statutory pension provision fund ATP, has made three senior appointments to expand its "bandwidth" in response to a strong deal flow.
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PPF set to eye schemes’ investment strategy
UK – The Pension Protection Fund will look at pension funds’ investment strategies when assessing their contribution to the fund levy, says the fund’s chairman Lawrence Churchill.
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SEI names Benelux institutional sales head
NETHERLANDS – SEI Investments, provider of asset management and investment technology solutions, has appointed Jeroen van Rooij as institutional sales director for the Benelux region.
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Kosovo Pension Savings Trust tenders for auditor
KOSOVO – The Kosovo Pension Savings Trust (KPST) has tendered for an independent auditor.
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UK schemes buying index-linked for liabilities
UK – The Debt Management Office says it’s a “fair assumption” that UK pension funds were among the buyers at today’s auction of index-linked government bonds.
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Belgium told to end “perverse” early retirement
BELGIUM – Belgium’s early retirement schemes should be phased out as they create “perverse” incentives that have a significant cost to society, a new report says.
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Sweden's AP3 names new management team
SWEDEN - The 142 billion-crown (15.2 billion-euro) Third Swedish National Pension Fund, AP3, has appointed a new nine-strong executive management team that includes two new members.
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Germany: Activest to cut 10% of fund managers
GERMANY - Activest, Germany’s fifth-largest provider of institutional funds, has confirmed plans to let go around 10% of the 80 fund managers it employs for both mutual and institutional funds.
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EDF in E11bn share sale for pensions, debt
FRANCE - Electricite de France, EDF, the French electricity company that became a limited company last week, is set to sell up to 11 billion euros in shares in a bid to repay debts, finance its development and foot its pension bill.
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Austrian MPs OK pension harmonisation
AUSTRIA - The Austrian parliament has approved the controversial pension harmonisation that envisages a homogeneous system of contributions for workers under 50.
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UK schemes face equities “dilemma” – Schroders
UK – Pension schemes are facing a dilemma about whether to stay in equities in current subdued markets, and are letting asset managers be more free in the search for returns, asset manager Schroders says.
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Information ratios “have little predictive value”
EUROPE – Investment performance firm WM Co. says information ratios, a measure of asset manager performance, are of “little predictive value”.
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Three top executives leave Dutch doctors scheme
NETHERLANDS – The 10.5 billion-euro SBA Artsenpensioenfonds (Pension Fund for General Practitioners and Medical Specialists) in the Netherlands has lost three senior executives over the course of three months, it has emerged.
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ATP taps IBM for administration revamp
DENMARK – ATP, the 27 billion-euro statutory pension provision fund, has selected IBM to implement a new administration system, according to the computer firm.
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Brussels airport scheme transfers to state
BELGIUM - ABN Amro Asset Management and KBC Asset Management face losing mandates if the 160 million-euro pension fund of the Brussels International Airport Co. (BIAC) is transferred to the Belgian state following privatisation.
