All IPE articles in October 2004 (Online)
View all stories from this issue.
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News
Actuaries Punter Southall names new principals
UK - Actuarial consultancy Punter Southall & Co, has named three new principals: Sarah Gwinnett, Richard Darnell and Richard Jones.
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Sweden's AP7 buys 5% of SRI firm Ethix
SWEDEN - The five billion-euro Sjunde AP-fonden, the seventh Swedish national pension fund, has bought five percent of socially responsible investment research company Ethix SRI Advisors for one million crowns.
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Aon consulting business gets international boost
GLOBAL - International business has given a boost to Aon Corp.'s consulting arm - though the company reported lower overall earnings and said overall revenue growth was less than anticipated.
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Petroleum Fund to suspend FX buying in December
NORWAY – Norges Bank is to suspend its foreign exchange purchases on behalf of the 942.4 billion-crown (114.1 billion-euro) Petroleum Fund in December due to a lack of liquidity in the markets at that time.
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TKP Pensioen warns on IFRS impact
NETHERLANDS - The introduction of the new European accounting standard IFRS in the Netherlands could lead to the closure of dozens of small pension funds, says an executive at TKP Pensioen.
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USS, PGGM in broker research initiative
EUROPE - Two of Europe's largest pension funds, the UK's USS and the Netherlands' PGGM are among the founding members of an initiative to challenge sell-side research.
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DaimlerChrysler makes E915m pension contribution
GLOBAL – Car giant DaimlerChrysler says it has cut its liabilities with pension fund contributions of almost a billion euros in the first nine months of the year.
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IBM UK cleared by Pension Ombudsman
UK – None of a series of complaints against computer giant IBM have been upheld by the Pensions Ombudsman, a pensioner group says.
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Deutsche chief signals possible asset job cull
GERMANY - Rolf Breuer, chairman of Deutsche Bank’s supervisory board, has signalled further job cuts the bank – possibly in its investment banking and asset management businesses – as it scrambles to meet profit targets.
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Lothian scheme looking for consultants
UK - The two billion-pound (2.87 billion-euro) Lothian Pension Fund is looking for two consultants for asset liability studies and strategic advice.
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Russian chief suggests raising retirement age
RUSSIA - Russian Pension Fund Chairman Gennady Batanov has sparked controversy by suggesting an increase of the retirement age by a maximum of five years.
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UK’s protection fund seeks investment head
UK – The Pension Protection Fund has advertised for a director of investment and finance to oversee its assets and resources.
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Jardine Lloyd unveils fixed-cost consulting
UK - Jardine Lloyd Thompson has launched a new service offering pension consulting for defined benefit schemes at a fixed cost of around 10,000 pounds (14,400 euros) for a typical 500-member scheme.
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Mercer parent Q3 earnings delayed amid probe
GLOBAL – Marsh & McLennan Companies, the parent of pension consulting firm Mercer, has delayed its third-quarter earnings report amid a regulatory probe that has already cost its chief executive his job.
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Portugal eyes state firms’ pension funds
PORTUGAL - The government could get hold of assets and liabilities of three funded pension funds of state-owned companies in a bid to keep the public deficit within EU limits.
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Crisis-hit Commission acts on pensions tax
EUROPE – The European Commission, in turmoil today with the collpase of José Manuel Barroso’s team, has taken action against Belgium and Italy over discriminatory pension taxation rules.
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Swiss second-pillar gets boost with rule change
SWITZERLAND - More than 100,000 extra workers will be eligible to join the second-pillar pension from 2005, as the Federal council has confirmed changes to the rules on marginal income.
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BNP Paribas picks up Luxemburg SICAV brief
LUXEMBURG - The Luxemburg-based real estate fund for institutional investors, Sireo Immobilienfonds n°4 SICAV, has awarded BNP Paribas Immobilier a 200 million-euro mandate to be invested on the French market.
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STOXX unveils enlarged Europe indices
EUROPE – Index provider STOXX has launched two indices covering new members of the European Union.
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Nordea asset management revenues slip
NORDIC – Nordea has seen its asset management revenues edge down on a sequential basis – although institutional client assets are slightly higher.
