All IPE articles in October 2002 (Online)
View all stories from this issue.
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News
Solutia appoints Frank Russell to run entire fund
UK - The Trustees of the Solutia UK pension scheme have appointed Frank Russell Company as the sole investment manager for its £35m( e55.4m) pension scheme. The global equity and fixed income assets will be spread across Russell’s full range of multi-manager funds.
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US fund management fees are on the rise
US- Fund management fees in the US are on the rise, according to a study by Lipper, mutual fund information and analysis provider. Declining assets within stock funds are behind the rise in management fees says Lipper.
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AP7 completes search for Private equity managers
SWEDEN- Sweden’s seventh national pension fund, AP7, has allocated $84m (e86m) to two US-based private equity fund of fund managers, Hamilton Lane Advisors and HarbourVest Partners. Hamilton Lane will be managing a US private equity fund of fund portfolio balanced between buyout, venture and special situation funds including secondary interests. ...
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Northern Trust adds to multi manager line up
UK- Northern Trust’s multi-manager business has appointed Raphael Robelin of Invesco, and Jonathan Platt of Royal London Asset Management as managers for its UK multi-manager fixed interest fund.
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Danske Capital receives GIPS compliance
DENMARK - Danske Capital, the asset management arm of Danske Bank, has announced it has received compliance with the Global Investment Performance Standards (GIPS).
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Vanguard registers eleven funds in Switzerland
SWITZERLAND- US fund provider Vanguard is registering eleven of its funds in Switzerland and expecting final approval from Eidgenössische Bankenkommission, the Swiss Federal Banking commission, in a few weeks.
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Research shows take up of unit-linked set to grow
EUROPE- The use of unit-linked investments in pensions and insurance products in Europe is expected to grow, according to research by Cerulli Associates. Worsening demographic trends and corporate scandals have put pressure on Europe’s pay-as-you-go system, pushing alternatives, such as unit linking, to the fore, says Cerulli’s report.
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Innovest opens Paris office in European push
FRANCE- Innovest, the US provider of research and ratings of companies’ environmental and social practices, has opened an office in Paris in response to growing demand for socially responsible investment products in France and southern Europe.
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Bristol opts for manager of manager approach
UK- The University of Bristol has put out to tender a manager of managers (MoM) mandate for its £100m (e158m) pension fund. The scheme is currently managed by Barclays Global Investors and Merrill Lynch IM.
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New PVK rules may leave Dutch funds e15bn short
NETHERLANDS- Dutch companies could end up having to add e15bn a year into their pension schemes in order to meet the guidelines set out by Dutch pensions watchdog, PVK, says Dexia Securities.
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Aon hires head for multinational role in Belgium
BELGIUM- Aon Consulting has announced the appointment of Lieven Alaert to lead its new international benefits practice in Belgium. In the new role he will develop and promote the employee benefits consulting services aimed at Belgian multinationals.
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Highlands tenders e475m Rothschild mandate
UK- The Highland Council’s £400m (e633m) pension fund has put out to tender a £300m (e475m) balanced mandate, as a result of current manager, Rothschild’s plans to sell its asset management business.
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Newton launches fund for UK institutional schemes
UK- Newton Fund Managers, UK asset management subsidiary of Mellon Financial, has launched an exempt equity alpha fund aimed at UK institutional pension schemes.
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European cross border property business flourishes
EUROPE- Europe is the preferred location of global cross-border investment activity in real estate, according to international property adviser DTZ, which predicts continued growth in the sector over the next five years.
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Morley fills new head of UK activism role
UK- Morley Fund Management, the UK-based asset management arm of Aviva, has announced the promotion of Ross Courtier to the newly-created position head of UK Activism.
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Dutch pharmacists' fund announces new chairman
NETHERLANDS- The e800m Dutch pharmacists’ pension fund, Stichting Pensioenfonds Apothekers (SPA), has appointed Mark Hagenzieker as chairman of its board. Hagenzieker replaces Henk Schut, who is retiring after serving on the board for over 20 years.
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More Multinationals take global view on pensions
GLOBAL- Market volatility and a tricky economic climate have led to a proliferation of multinationals taking a global approach to managing their retirement plan assets according to research by Mercer Investment consulting.
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UK DB closures have already cost members e1.27bn
UK- UK pension fund members have missed out on up to £800m (e1.27bn) of benefits as a result of final salary schemes winding up inefficiently, according to actuarial consultants HighamNobbs.
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ABP subsidiary launches global SRI fund
NETHERLANDS- Dutch fund manager Loyalis, a subsidiary of ABP, is launching a global SRI fund which will be open to pension funds worldwide. ABP is the first pension fund to participate.
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DaimlerChrysler faces e5.5bn pensions shortfall
US/GERMANY- US/German group DaimlerChrysler faces underfunded pension obligations to the tune of e5.5bn by the end of 2002 if capital markets remain at current levels.
