All IPE articles in September 2004 (Online) – Page 8
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DeAM’s Copley joins Mellon's European fund arm
EUROPE – Mellon Corp.’s European investment administration arm has hired David Copley from Deutsche Asset Management.
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Ageing now on agenda as EU revamps stability pact
EUROPE – Population ageing is now on the agenda being set by the European Commission as it puts forward plans to revamp the Stability and Growth Pact which underpins the single currency.
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Deka scandal unlikely to faze investors – HVB
GERMANY – The scandal at Deka Immobilien Investment GmbH which has seen the real estate firm’s head dismissed, is unlikely to faze investors, an analyst at HVB says.
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Schroders loses out to Muzinch at Hoover
UK - The pension scheme of domestic appliance maker Hoover has awarded its first international cross-over corporate bond mandate worth 18 million pounds (26.5 million euros) to Muzinich – resulting in a loss for Schroders.
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Rabobank asset management profit falls 6%
NETHERLANDS – Rabobank says its asset management activities’ pre-tax operating profit fell six percent to 80 million euros in the first half of 2004.
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Legg Mason plans European expansion
FRANCE - Legg Mason Investments says it has opened a Paris representative office - to be followed by similar moves in Germany and elsewhere in Europe.
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Sarasin boosts Austrian institutional business
AUSTRIA - Basel-based asset manager Sarasin says it is strengthening the institutional activities of its Austrian business with the appointment of former Credit Suisse executive Susanne Müssauer.
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UK port firm in pension holiday, scheme revamp
UK - Associated British Ports, which operates 21 UK ports, has decided to continue its pension contribution holiday as well as revamp its investment arrangements.
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Italy's TFR contributions could top E13bn
ITALY – The total amount of the so-called TFR payments that will be invested in Italian pension funds following this summer’s reform could reach 13.5 billion euros a year, according to Hewitt Associates.
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Irish firms face prison over pension failures
IRELAND – The Irish pensions regulator has warned companies that they could face fines or prison sentences if they fail to comply with pensions legislation covering Personal Retirement Savings Accounts.
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Hewitt Bacon & Woodrow names ‘talent’ chief
UK – Hewitt Associates says its UK arm Hewitt Bacon & Woodrow has named former Barclays executive Jamil Husain as head of its talent and organisation consulting business.
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France: BNP, Dexia vie for top SRI slot - report
FRANCE - BNP Paribas and Dexia are vying for first place in the French socially responsible investing market, consulting firm Novethic said.
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Inarcassa names Di Grazia as general manager
ITALY – Inarcassa, the 2.3 billion-euro association which provides pensions for self-employed engineers and architects, has named Alfio Di Grazia as general manager.
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Pension funds back LGT private equity fund
SWITZERLAND – The London Pension Fund Authority, Sweden’s AP3 and AP7, the London Borough of Hillingdon are among pension funds investing in the Crown Private Equity European Buyout Opportunities fund, which has announced its closing at 392 million euros.
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ING named as manager fired by SFN (Update)
(Updates with name of manager) NETHERLANDS - Stichting Flexibel Uittreden Nutsbedrijven, the 348 million-euro fund for the Dutch utility sector, has withdrawn a 175 million-euro balanced mandate from ING Investment Managment and handed it to Barclays Global Investors.
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Northern boosts European transition management
EUROPE - Northern Trust Global Investments says it has former Instinet executive Simon Hutchinson as strategist for transition management in Europe.
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Bolkestein: pension reform is up to member states
EUROPE – The European Commission’s outgoing internal market and taxation commissioner Frits Bolkestein says only EU member states – and not Brussels - can reform Europe’s pension systems.
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Belgian pension returns rise in first half
BELGIUM – Pension funds in Belgium are on track to equal the near-10% return they made in 2003 following a positive 4.59% return in the first half of this year.
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UK pension funds marking time – WM
UK – UK pension funds - up an “unspectactular” 1.1% in the second quarter - are currently marking time, says performance measurement firm WM Co.
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CalPERS buys into German real estate
GERMANY – CalPERS, the largest US pension fund at 166.3 billion dollars (136.8 billion euros), has bought a commercial property in Frankfurt for 14 million dollars.
