All articles by Perttu Jarvenpaa

  • News

    Local authorities post lowest returns in 13 years


    UK – Local authority pension funds’ posted negative average returns for the first time in 13 years for the year to March 31, 2001, returning –6.3%, according to performance measurement consultancy WM Company....

  • News

    Deutsche scoops £2.35bn Royal London custody


    UK – Royal London Unit Trust Managers has appointed Deutsche Bank as trustee and custodian to its entire fund assets worth over £2.35bn (e3.91bn)....

  • News

    Fidelity pulls Horlick from Europe to US top spot


    US/EUROPE – Richard Horlick, president of investment manager Fidelity’s international institutional business, has been seconded for three years to become chairman and president of Fidelity Management Trust Company, based in Boston....

  • News

    JP Morgan unveils risk management support database


    JP Morgan’s investor services information products group has launched a new risk management and decision support database for institutional investors....

  • News

    Securities body reports on internet best practice


    The International Organization of Securities Commissions (IOSCO) has issued a report on best practice for securities activity via the internet, after identifying more than 2,400 sites for follow-up review on the basis of possible fraud, market abuse and unauthorised financial activities - including around 300 sites that involved cross-border activity.... ...

  • News

    Invesco gets 'aa' rating from Fitch-AMR


    EUROPE – Invesco Continental Europe’s Frankfurt and London investment management offices and its Brussels-based European marketing office have been given an ‘aa’ intrinsic asset management rating by ratings provider Fitch-AMR....

  • News

    Finnish regulators clarify legal positions


    FINLAND – A working committee set up by the ministries of finance and social affairs and health has suggested amendments to the current law governing the Finnish insurance supervisory authority (VVV) and the financial supervisory authority (RATA), in response to blurring divisions between Finnish insurers and asset managers....

  • News

    Plans approved for giant Norwegian fund fusion


    NORWAY – Jørgen Kosmo, Norway’s minister of labour and government administration, has approved further plans for fusing the non-funded Norwegian public service pension fund, Statens Pensjonskasse (SPK), to the funded NOK100bn (e12.7bn) local authority pension fund, Kommunal Landspensionskasse (KLP)....

  • News

    SEB selects Schroders for SEK12bn advisory brief


    SWEDEN/UK – Stockholm based financial services group Skandinaviska Enskilda Banken (SEB) has appointed London based asset manager Schroders to advise it on the management of its SEK12bn (e1.3bn) Asian and emerging market equity assets....

  • News

    Three million added to UK pension hardship figures


    UK – Three million more people face financial hardship upon retirement in the UK than they did in 1996, according to an annual report conducted by J P Morgan Fleming....

  • News

    AP7 blacklists 30 companies on SRI grounds


    SWEDEN – The SEK14.5bn (e1.57bn) national premium pension fund Sjunde AP-fonden (AP7) has blacklisted 30 companies from its equity portfolio following a scathing report on their environmental and ethical records....

  • News

    UK £1.7bn fund seeks private equity managers


    UK – Leicestershire County Council is seeking one or more private equity managers for some £50-75m (e80-e120m), or 3-5% of its £1.7bn total pension fund assets, according to Colin Pratt, investment manager at the council....

  • News

    Threadneedle unveils web-based DC solution


    UK – Threadneedle Pensions, part of Zurich Scudder Investments, has launched a new web site for defined contribution (DC) pension scheme members that includes a ‘pension projection calculator’ allowing members to project forward the kind of benefit they may receive in retirement....

  • News

    Sampo names new investor relations head


    FINLAND/SCANDINAVIA – Jarmo Salonen has been promoted to head of investor relations at Helsinki based financial services group Sampo, from September 1...

  • News

    EAMA questions EU legislators on indexation


    EUROPE - The European Asset Management Association (EAMA) has published a collection of essays questioning European Union legislators’ approaches to the indexation of investments....

  • News

    Sweden's AP2 and AP3 funds make top level hires


    SWEDEN – The government pension buffer funds AP2 and AP3 have made a number of top level appointments to their in-house investment teams....

  • News

    Flanders seeks managers for BFr8bn fund


    BELGIUM – The regional government of Flanders is launching an ethically invested healthcare insurance fund at the start of next year with an initial BEF8bn (e200m) of capital, and an extra BEF4bn being contributed annually by the regional government....

  • News

    INVESCO restructures retail and institutional arms


    UK – INVESCO has restructured its UK organisation in order to focus on its separate retail and institutional businesses and deal with the group’s expansion following the acquisitions of Perpertual and GT....

  • News

    Mellon to consolidate in new European HQ


    UK/EUROPE – Pittsburgh based Mellon Financial is planning to open a new European headquarters in London by the end of 2003....

  • News

    Japanese DC 'goldmine' won't happen, warns Cerulli


    JAPAN – The recently authorised Japanese defined contribution (DC) plans will not create a goldmine for foreign fund managers, raising only ¥5trn (e47bn) during their first three years of operations, according to Boston based research and consulting firm Cerulli Associates...