All IPE articles in October 2001 (Online) – Page 5
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News
Swiss parliament rejects tax on pension funds
SWITZERLAND – The Swiss pension industry is confident the House of Representatives ( HR) will go the same way as the country’s lower house, which recently voted against levying stamp duty on the country’s domestic funds, says Peter Wirth of the Versorgeforum, the Swiss second pillar pensions forum.
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Swiss fund abandons currency overlay strategy
SWITZERLAND - The SFr19bn (e12.8bn) Canton of Zurich (BVK) pension fund has scrapped a currency overlay mandate with State Street, citing disappointment with the results compared to the cost of the programme....
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Axa strengthens equity research
UK – Axa Investment Managers has added two new analysts to its equity research team in London. Both will cover financials.
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Soc Gen and Mellon in employee savings tie-up
FRANCE/US – Société Générale (SG) and Mellon Investor Services (MIS) have formed a partnership to manage employee stock option and shareholder plans for multinational US and continental European corporate issuers....
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European Parliament seeks to expand UCITS rules
EUROPE – The European Parliament’s Economic and Monetary Affairs Committee (EMAC) has approved two new Council “Common Positions” to expand the European market in unit trusts and other UCITS products – in a move that includes “OTC” (over-the-counter) derivatives for the first time....
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Länsförsäkringar outsources SEK4bn to managers
SWEDEN – Swedish insurance group Länsförsäkringar Liv has outsourced approximately SEK 4bn (e420m) in North American and European equities – the equivalent of 5 % of its total assets – with the purpose of creating competition between internal and external managers....
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Belgacom fund chief quits for Fortis role
BELGIUM – William Van Impe, the general manager of the e3.5bn Brussels-based Belgacom pension funds is to leave the firm at the end of the month to take up a new position within the Fortis insurance group....
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State Street to manage $130m for Shell Foundation
UK – The London-based Shell Foundation, an independent charity funded by holding companies of the Royal Dutch/Shell Group, has selected State Street Global Advisors (SSGA) to manage a US$130m (e144m) multi asset index mandate....
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Deutsche GSS hires new Italian client head
ITALY – Deutsche Bank (DB) have appointed Jean-Marc Crépin as head of customer management for its Global Securities Services (GSS) operations in Italy....
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£750m Cumbria fund picks Deutsche for custody
UK – The £750m (€1,199m) Cumbria County Council Pension Fund has appointed Deutsche Bank as global custody services provider for the scheme’s assets....
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Investia installs first European online platform
LUXEMBOURG – Financial services software provider, Investia, has installed its first European online fund processing platform at JP Morgan Investor Services in Luxembourg....
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AXA IM confirmed as GIPS compliant
AXA Investment Managers (AXA IM) has been confirmed as compliant with GIPS - the Global Investment Performance Standards, as well as attaining the Association for Investment Management and Research’s (AIMR) PPS grade (Performance Presentation Standards)....
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JP Morgan picks up Queen's award for enterprise
UK - JPMorgan Investor Services has picked up the coveted Queen’s Award for Enterprise in International Trade 2001 for its global processing hub in Bournemouth, England – the first such honour to be bestowed upon the investor services business....
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Railtrack poser for pension fund investors
UK – It’s still too early to know if pension funds have a right to action in the collapse of Railtrack, the UK’s railway station and track maintenance group, says Robin Ellison, chairman of the pensions group at the London office of international legal firm, Eversheds...
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UK pension funds deserting equities
UK – FRS 17, the new accounting standard for pension funds in the UK is causing dramatic shifts in portfolio composition, says an equity research report by Deutsche Bank (DB).
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Kottmann quits Complementa to go independent
SWITZERLAND - Felix Kottmann is leaving leading Swiss consultants Complementa after nine years with the St Gallen-based firm. Kottmann, who is a member of the executive committee, says: “After this time, I feel it is important to take a break and do something new. I think it is the ...
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Call to extend employers’ stakeholder exemptions
UK – Fines totalling £10bn (€16bn) could be imposed on companies not meeting the new stakeholder pensions deadline of 8 October, claims David Willetts, the Conservative Party’s spokesperson for work and pensions issue, in a private report.
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Outsourcing management key trend on Continent
EUROPE – Institutional investors across continental Europe are increasingly outsourcing their asset management, according to the results of a soon to be published survey by Greenwich Associates(GA), the Connecticut based research and consultancy firm.
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Pensions part of German wage bargaining says aba
GERMANY – The recent collective bargaining contracts between the metal and chemical workers’ industry associations and their respective trade unions signal the beginning of a trend that is helping to reshape the German pension fund industry...
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AP3 completes first phase of €577m Asian mandates
SWEDEN – The initial tender period to find managers for the €577m Asia Pacific (ex-Japan) and Japan equity funds of the Third Swedish National Pension Fund, AP3, as put out in July, is now complete.
