All IPE articles in October 2002 (Online) – Page 4
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News
CalPERS announces change to asset allocation
US- CalPERS, America's largest public pension fund, is to reallocate assets from its global fixed income portfolio to real estate and private equity.
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Bayer appoints Watson Wyatt for consultancy advice
UK- The UK subsidiary of Germany’s Bayer has appointed Watson Wyatt to provide actuarial, investment and consultancy services to the company and to the trustees of its largest UK pension fund. Watson Wyatt replaces rival consultant Mercers.
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ING and BoNY enter European alliance
EUROPE- ING and the Bank of New York are to create a European commercial alliance focusing on sales, marketing and servicing of global custody and related services. The alliance will see the two entities jointly offering services to institutional clients in Germany, the Benelux and Central and Eastern Europe over ...
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FEATURE: Olivier Deprez on Switzerland's 'crisis'
Switzerland got its first inkling of a pensions crisis earlier this year when the government announced that it planned to lower the minimum guaranteed interest rate paid on occupational pensions schemes from 4% to 3%.
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Suffolk tenders e47m private equity mandate
UK- Suffolk county council has put out to tender a £30m (e47m) private equity fund of funds mandate, joining a growing list of UK local authorities to re-allocate assets to the alternative class.
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Managers more optimistic about equity prospects
GLOBAL- Fund managers are more optimistic about the prospects for the world equity markets than they have been for a year according to the latest Merrill Lynch fund manager survey.
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Capital secures e158m UK council mandate
UK- Shetland Islands County Council has awarded the mandate for its £100m (e158m) pension fund to Capital International. UBS Global Asset Management, formerly Phillips & Drew, had been running the portfolio for five years, but lost the beauty parade when the five-year mandate period was over.
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Putnam to take over e2.8bn of BT FM's assets
AUSTRALIA/US- BT Funds Management, the Australian global investment manager, will see US-based Putnam Investments take over management of A$5bn (e2.79bn) of its international equity assets when the Westpac acquisition of the majority of the BT Financial Group closes at the end of October.
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Italian banks set to launch bonds indexed to gold
ITALY- The treasury of Italy’s regional banks (banche popolari) has unveiled plans to issue gold index bonds – bonds with returns linked to the price of gold. The bonds will be aimed at risk-averse investors, and will carry a rating of AAA or AA+, but some market officials question whether ...
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Schroders adds to fixed income development team
UK- Schroder Investment Management has appointed Jeremy Cave as head of fixed income business development in continental Europe and the Middle East.
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Scottish Widows denies unfair play in GAR policies
UK – UK insurer, Scottish Widows, has issued a statement stressing that it does not operate different bonus procedures for pension policies with guaranteed annuity rates. The announcement follows complaints from a handful of its policyholders.
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Good past performance ‘carries forward’ says IMA
UK - UK equity funds with top quartile past performance are more likely to perform well in the future, according to research commissioned by the Investment Management Association, (IMA).
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Mediolanum State Street venture to split up
ITALY/US/UK - Mediolanum State Street, the highly successful joint venture of the London arm of US investment manager State Street Global Advisors (SSgA) and the Milan-based Mediolanum bank is breaking up. The two entities have decided to go their own way.
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Austrian fund tenders e25m global balanced mandate
UK- Bank Spängler and the consultancy Kottmann Advisory Services are looking, via the electronic manager search system IPE-Quest.com, for a manager to oversee a e25m global balanced mandate on behalf of their client, an Austrian pension fund.
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Schroders appoints Johansen for Nordic sales
SWEDEN - Schroder Investment Management has bolstered its Nordic sales team with the appointment of Viggo Johansen as sales manager for Sweden and Finland.
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Investor relations key to share price movements
GLOBAL - Companies should pay more attention to their investor relations in order to avoid major shifts in share price, according to a report out by Ernst & Young, accounting company, and Oxford Metrica, independent strategic adviser
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Norton to head Goldman’s PE European marketing
EUROPE - Goldman Sachs Asset Management Private Equity Group is making a further push into Europe with the appointment of Clive Norton to head up the group’s European marketing efforts.
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Software to calculate FRS17 figures from UBSL
UK - Large PLCs will now be able to calculate their own FRS17 figures, rather than wait for an actuary report, with a new FRS17 calculator from UBSL, pensions software solutions company.
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Dutch professional funds face new legal move
NETHERLANDS - A draft of the amended Bpr law is expected to be presented to the Dutch parliament at the beginning of next year.
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CEA welcomes ‘Danner’ decision as positive
BRUSSELS -The Danner decision of the European Court of Justice gives a new impetus to a single market in supplementary pensions, says the Comite Europeen des Assurances (CEA), which represents the European insurance industry.
