All IPE articles in October 2003 (Online) – Page 6
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UBS sees unbundled German pensions market
GERMANY - The German pensions market is likely to see its services unbundled towards a more specialist approach, according to Tim Blackwell, managing director of UBS Global Asset Management in Germany.
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Economic growth key for Swiss pensions - SNB
SWITZERLAND – Economic growth is the best way to meet retirement and social welfare promises, says Swiss National Bank board member Philipp Hildebrand.
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WM Co. looking at “different products”
UK – WM Co., charged by parent State Street with moving “up the value chain”, is looking at various new products.
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State Street says GSS operating at break-even
GLOBAL – State Street Corp. says the Global Securities Services business it acquired from Deutsche Bank is “operating at break-even”, with 465 client conversions completed.
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Mellon names Ireland trustee manager
IRELAND – Mellon Global Securities Services has appointed Cathy Kinsella as trustee manager for its trustee business in Ireland.
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Norton Rose names pensions associate
UK – Law firm Norton Rose has hired Martha Quinn from Dundas & Wilson to be a senior associate in its pensions team.
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Irish fund industry sees 30% growth - Fitzrovia
IRELAND – The Irish fund industry has seen a 30% growth in net assets over the 12-month period up to end June this year, says fund researcher Fitzrovia International.
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EET would boost European second-pillar – CEA
EUROPE – Tax exemption of contributions and investment returns, or exempt-exempt tax (EET), at the European level would boost the development of second-pillar pension schemes, says the Comite Europeen des Assurances.
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USS long-term mandate shortlist announced
UK – Three corporate entries have made it onto the shortlist of eight candidates in the Universities’ Superannuation Scheme’s long-term mandate competition.
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Germany: ABA chief sees regulatory “jungle”
GERMANY – The head of the German pension industry body ABA says the industry is facing a “jungle of regulation” and has called for a longer-term planning horizon.
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Portuguese pension funds return 1.4% in Q3
PORTUGAL – Portuguese pension funds returned 1.4% for the third quarter, according to research from Watson Wyatt.
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Hermes boosts corporate governance team
UK – Hermes Pensions Management has make three appointments to its corporate governance team, taking the total staffing of the team to 45.
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Rogge Partners in Japanese joint venture
EUROPE/JAPAN – Fixed income manager Rogge Partners has teamed up with Tokio Marine to form a Japanese asset management venture.
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Nordea sells pension services arm to Gabler
NORWAY – Nordea AB has sold its pension services arm to Norwegian consultant Gabler Radgivning.
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WM says Dutch funds cut domestic equity holdings
NETHERLANDS – Dutch pension funds have cut their domestic equity holdings to 15%, from 40% in 1988, according to WM Co.
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Bayersiche Versorgungskammer taps SSGA for E860m
GERMANY – State Street Global Advisers has been appointed to run just under one billion dollars (860 million euros) in mandates for the Bayersiche Versorgungskammer.
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Russian pension savings set to reach E28bn
RUSSIA – Pension savings of Russian citizens are expected to total one trillion roubles (28.3 billion euros) by 2010, says deputy finance minister Bella Zlatkis.
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LGIM says corporate pensions business rises
UK - Legal & General Investment Management has posted a 40.5% rise in new corporate pension business in the third quarter.
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UK unions to use pension assets for governance
UK – The head of the main trades union body has signalled that unions will use their pension assets to make sure that companies are ethically managed.
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Mercer HR names two France managers
FRANCE – Mercer Human Resources has added two senior members to its business in France.