All IPE articles in September 2003 (Online) – Page 4
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Pension reform could hit EU stability pact – IMF
EUROPE – There are potential tensions between pension reform and the European Union’s Stability and Growth Pact, says the International Monetary Fund.
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Putnam names director of European equities
EUROPE – Putnam Investments has named Heather Arnold as director of European equities.
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ICI taps Ashmore for E100m in emerging debt
UK – Ashmore Investment Management has been appointed to run a 70 million-pound (100 million-euro) emerging debt mandate for two of ICI’s pension funds.
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Put 5-10% into hedge funds - ex-Watson partner
UK – Former Watson Wyatt partner and senior investment consultant Stephen Oxley says pension funds should allocate between five and 10 percent to hedge funds.
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Woods to head new SSGA hedge fund strategy group
UK - State Street Global Advisors has set up a hedge fund strategies group to be headed by former UK chief investment officer Chris Woods.
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France: UBS GAM hires DeAM’s Bruno Servant
FRANCE – UBS Global Asset Management France has appointed Bruno Servant as deputy chief executive.
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LGIM hires fund manager Holmes from CSAM
UK – Legal and General Investment Management has further bolstered its equity team as it makes a push into active equities.
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Union Bancaire Privée outsources E5.5bn to EFA
SWITZERLAND – Swiss private bank Union Bancaire Privée has decided to outsource its fund administration to Luxembourg-based European Fund Administration.
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Mercer spends E36m to boost pension admin
UK – Mercer is boosting its pensions administration business, by spending 25 million pounds (36 million euros) on new technology, training and customer service.
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Ex-Shell Pension deputy CIO joins Gartmore
UK – Nick Shaw, former deputy chief investment officer for Shell Pension Management Services, has been appointed by Gartmore as it expands into private equity.
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Italy’s Tremonti says 2nd-pillar pensions vital
ITALY – Italian economy minister Giulio Tremonti has said that the state pension system will explode unless the second pillar is not developed as soon as possible.
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ICI pension schemes award E100m to Muzinich
UK – An increasing number of UK pension schemes are allocating assets to high yield bonds, says investment manager Muzinich, which has just won mandates from two of chemicals group ICI’s pension funds.
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Ireland: too soon to judge firms’ PRSA take-up
IRELAND – The Irish pensions regulator says it is too soon to say how many companies fulfilled their legal requirement to sign a Personal Retirement Savings Account contract by September 15.
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Elections put Spanish pension reform on hold
SPAIN – Forthcoming elections have put a hold on Spain’s pension reform, says investment consultant Mercer.
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Austrian pension reform “unfinished business”
AUSTRIA – The International Monetary Fund has praised Austria’s pension reform, but highlights that the second and third pillar systems need gradual development.
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Big Dutch pension funds and associations slam reform
NETHERLANDS – The two largest Dutch pension funds and the OPF and VB associations have roundly criticised the Dutch government’s pension-reform plans.
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Top US consultants losing market share - report
US – “Leading firms in the investment consulting business are losing their historic stronghold on the market” – so says a new report by Cerulli Associates.
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EU Commission consults on pensions mobility
EUROPE – The European Commission has published a consultation paper on pensions mobility.
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Inflows to German investment funds halve
GERMANY – Investments into German investment funds dropped by half in August to 1.6 billion euros, according to the latest data from the BVI, Bundesverband Investment und Asset Management.
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Fund managers turn bullish – Merrill survey
GLOBAL – Merrill Lynch’s monthly survey of fund managers has found that global fund managers’ sentiment has turned bullish amid what it termed “cyclical euphoria”.
