All IPE articles in October 2001 (Online)
View all stories from this issue.
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News
Danish pension insurers in bonus reserve wipeout
DENMARK – PFA, the Danish insurance group has announced losses of some DKK 18.2 billion – completely wiping out the group’s bonus reserves and forcing it’s pensions arm into emergency talks with the Danish Financial Supervisory Authority - as a result of falling equity markets after the shock in the ...
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AFPEN produces French pension fund template
FRANCE – AFPEN, the French association of pension funds and retirement regimes has created a template for occupational pension funds in France, updating the initiative of 1997’s Loi Thomas and aligning itself with the direction of the European directive on second pillar provision....
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EU proposes rules on pensions distance selling
The European Union yesterday (Sep 27) forged a political agreement on common rules for selling contracts for investment funds, pension plans and credit cards, amongst others, to consumers by phone, fax or internet....
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HSBC-CCF buys back Sinopia Asset Management
FRANCE - HSBC CCF Asset Management has begun to buy back the stake in Paris-based quant firm Sinopia Asset Management that it floated in 1998, with the purchase of over a million shares from Belgium’s KBC Group, Spanish bank BBVA and Mellon Financial Corporation for a price of e27.5 per ...
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MAN hires European sales manager
UK – Hedge fund outfit MAN Investment Products (MIP) has hired Paolo di Montorio-Veronese as regional manager, Europe, for its London-based sales team....
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Aon expands UK defined contribution team
UK – Aon Consulting has expanded its defined contribution team in its pensions administration practice with the appointment of Susan Flynn as UK operations manager and Lee Swindlehurst as an operations manager at Aon’s Farnborough office....
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Citibank in Ukraine securities services tie-up
UKRAINE – Citibank Worldwide Securities Services (CWSS) has expanded its presence in Eastern Europe with the appointment of ING Bank Ukraine as its agent bank in Ukraine....
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Skinner to head Gartmore fixed-income team
UK – Gartmore Investment Management has appointed Paul Skinner as head of fixed income business development....
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Stakeholder boosts private pension take up by 250%
UK – The take-up of private pensions in the UK has gone up by almost 250% since the government launched the stakeholder pension scheme initiative in April, according to Virgin Direct....
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Legal & General scoops £240m from Northumberland
UK - The £430m (e694m) Northumberland County Council Pension Fund has appointed Legal & General to a £240m passive global equity brief, shedding its previous balanced arrangements with Schroders and Merrill Lynch Investment Managers....
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Clients pay five times estimated transition costs
UK – The gap between cost estimates and delivered performance in the growing portfolio transition management business can lead to clients paying up to five time the original cost estimate of the transition, according to a study by Frank Russell....
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Novartis fund sells property in strategy shift
SWITZERLAND – The SFr17.5bn pension fund of pharmaceutical giant Novartis, has sold around 100 buildings in its property portfolio to Credit Suisse Asset Management (CSAM) in a change of strategy that will see the fund concentrate its real estate portfolio on indirect investment through Credit Suisse....
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Germany's Schoeller launches fund of hedge funds
GERMANY - Schoeller Capital Management (SCM) , the total return products arm of Germany’s HypoVereinsbank Group is launching launching an institutional fund of hedge funds together with its parent group....
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Lasalle launches e500m European property fund
EUROPE – Lasalle Investment Management (LIM)has launched its new €500m Euro Growth II fund, a real estate investment fund to be invested in properties across Western Europe....
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FTSE All-World slumped by 9% in September
GLOBAL – The recent terrorist attacks in New York helped pile on the misery last month for global equity markets, according to index provider FTSE, who says that its All-World Index fell in September by more than 9%....
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NLG25bn Dutch PMI fund in huge asset transfer
NETHERLANDS – The NLG25bn (e11.3bn) Dutch metal and engineering workers’ pension fund, Bedrijfspensioenfonds voor de Metaalindustrie (PMI), has transferred around NLG17.5bn in assets to Eureko-owned fund manager F&C in London and is seeking two new US index managers to manage approximately NLG4bn in assets....
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Norwegian merger may create huge pension company
NORWAY - Norway’s largest life pensions company could be created under plans being discussed by the NOK90bn (e11.1bn) KLP (Kommunal Landspensjonskasse) pension fund for Norwegian municipal workers and the SPK (Statens Pensjonskasse) pay-as-you-go retirement plan for civil servants - in a move that could see a significant raft of assets ...
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Senior City lawyer heads to Morgan Stanley
UK – Keith Clark, current chairman of international law firm, Clifford Chance (CC), has been appointed international general counsel at financial services giant, Morgan Stanley (MS).
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Danish fund picks FSI for Europe small cap brief
DENMARK/UK – First State Investments (FSI) with £7bn (€11bn) under management has won a mandate to manage the £30m pan European small cap portfolio for KP Invest
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Morley launches four new pooled pensions funds
UK – Four new pooled pension funds have been launched by Morley Fund Management in London.
