All IPE articles in September 2003 (Online) – Page 5
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AP1 hires head of alternative investments
SWEDEN – The 126.6 billion-Swedish crown (13.7 billion-euro) Swedish reserve fund Forsta AP-fonden has hired a head of alternatives.
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Dexia’s assets under management rise 8.1%
BENELUX – Franco-Belgian bank Dexia has reported positive first-half results for its institutional asset management business, with an increase in assets under management in the Netherlands of 8.1%.
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SSGA names new Nordic marketing chief
BELGIUM - State Street Global Advisors has named Laurent De Greef as its new director of marketing for the Nordic region.
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Lithuania “should raise pension contributions”
LITHUANIA – Lithuania should expand the scope of its pension reform by raising contribution rates, says the International Monetary Fund.
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Gartmore in hedge fund tie with Aspect Capital
UK – Gartmore is expanding its hedge fund business by forming an alliance with Aspect Capital, a global hedge fund company.
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Aberdeen Asset Management sells AVI
UK – Aberdeen Asset Management has decided to sell its Asset Value Investors subsidiary to its management.
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EFRP to update occupational retirement proposal
EUROPE – The European Federation for Retirement Provision is to publish a follow-up report to the European Institution for Occupational Retirement Provision proposal.
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UK to OK equal pension tax treatment – PEPGO
EUROPE - The UK is likely to be the next European Union member state to approve equal tax treatment of European pension plans, according to the Pan-European Pension Group, or PEPGO.
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Swedish euro vote has little pension impact
SWEDEN – Sweden’s decision to reject the euro is not seen as having a major impact on Swedish pension industry.
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Italian supplementary pension funds rise 2%
ITALY – Both closed and open supplementary pension funds provided positive returns of two percent and above by the end of the first half of 2003 according to COVIP, the Italian pension fund supervisory authority.
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Investment Solutions in UK multi-manager launch
UK – South Africa’s Investment Solutions, part of the same group as consulting firm Lane Clark & Peacock, has launched a multi-manager platform in the UK.
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Hermes boosts private equity team
UK – Hermes’ private equity arm has hired an investment director from CVC Capital Partners.
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UK government amends armed forces pensions
UK – The UK government has announced changes to the Armed Forces pensions resulting in more benefits for widows and unmarried partners.
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NAPF names head of governance venture
UK – The new corporate governance venture set up by the National Association of Pension Funds and US corporate governance firm Institutional Shareholders Service has now appointed a chief executive.
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Netherlands scraps early retirement tax breaks
NETHERLANDS – The Dutch government has scrapped tax breaks for early retirement and pre-pension schemes in a bid to encourage workers to remain in the labour market for longer.
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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”.
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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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EU Commission consults on pensions mobility
EUROPE – The European Commission has published a consultation paper on pensions mobility.
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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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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.