All IPE articles in October 2004 (Online) – Page 6
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News
Oppenheimer tackles European market
EUROPE- US investment manager OppenheimerFunds Inc (OFI) is entering the European market through a “dual approach” with its subsidiary, Tremont Capital Management.
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SSgA poaches bond team from Pictet
SWITZERLAND – State Street Global Advisors (SSgA) has enhanced its range of products for institutional investors, hiring a four-strong team of Swiss bond managers from Pictet & Cie.
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Multinationals in bid to control trustees- Mercer
IRELAND - Multinational companies are trying to exert control over subsidiaries’ trustee boards according to a senior consultant at Mercer.
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Barr moves to PPM
SWEDEN - Daniel Barr, chief analyst of the seventh Swedish national pension fund Sjunde AP-fonden, AP7, has joined the premium pension authority, PPM, as chief economist.
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Hedge funds will lower VaR - Watson Wyatt
IRELAND- Hedge funds produce lower returns than equities but cut risks according to a senior figure at Watson Wyatt in Ireland.
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Regulator claims pan-European DB unlikely
EUROPE- Pan-European defined benefit (DB) pension schemes face “obstacles” under the new directives, according to Anne Maher, head of the Irish pensions regulator.
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Nomura soft closes to European clients
UK - Nomura Asset Management UK (NAM) has closed to new business in Far East equities for the rest of the year, after taking in assets worth 1.1 billion dollars already in 2004.
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Alecta, AP2 involved in Electrolux board choice
SWEDEN – Swedish pension institutions Alecta and Andra AP-fonden are among investors that have been drafted in to help nominate board members at household products firm Electrolux.
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Sweden names head of new social security agency
SWEDEN - The government has appointed finance under-secretary Curt Malmborg to head the new social security agency, Försäkringskassan.
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German consultant Heubeck may be sold
GERMANY- FJH, the Munich-based IT company is considering selling pension advisor Heubeck AG seventeen months after acquiring it.
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UK promises 6 million pension forecasts
UK - More than six million workers are to receive forecasts of their state and private pension provisions by 2006, the government promised.
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Pickering to step down as EFRP chairman
EUROPE- Alan Pickering is to step down as chairman of the European Federation for Retirement Provision (EFRP) this month after three years in the role.
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Deka dismisses real estate executives
GERMANY- Deka Bank has fired three senior executives in charge of its real estate fund arm, claiming the executives lied about the true value of its investments in German real estate.
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UBS hires Oppenheim’s Welton
SWITZERLAND - UBS Global Asset Management has hired Drew Welton, head of international marketing at Bank Sal Oppenheim jr & Cie
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BoNY securities servicing hit by weak markets
GLOBAL – The Bank of New York, posting lower quarterly profits, says its securities servicing business was hit by weak capital markets in the third quarter.
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IPE-QUEST: European manager tenders EM brief
EUROPE – A European asset manager is seeking a specialist manager to manage a Latin America emerging market portfolio on a sub-adviser basis via IPE-Quest.
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IPE-QUEST: Danish foundation tenders E40m
DENMARK - Investment consultant Kirstein Finans has put in a request for tenders for a 40 million-euro euro-zone credit mandate via IPE-Quest.
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UK aims to centralise police pensions
UK – The UK government says it is reviewing the police pensions system – with a view to taking responsibility “back to the centre”.
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Citigroup buys ABN Amro domestic custody business
GLOBAL – Citigroup is to buy parts of ABN Amro’s domestic custody business, including operations in the Netherlands, Greece, Poland and Russia, for an undisclosed sum.
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Cross-border IORPs on agenda at key EU meeting
EUROPE - Karel van Hulle, the new head of the insurance unit of the European Commission, is to chair a key meeting with member states on the transposition of the pension fund directive this Friday in Brussels.
