All articles by Dickon Reid – Page 14
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Features
Norway issues vast $5.5bn equity RFPs
Norges Bank Investment Management (NBIM), overseer of the $75bn (E81bn) Norwegian petroleum fund, has announced a $5.5bn equities RFP with the initial tender process being run through the IPE-Quest electronic manager selection system. NBIM is looking to appoint new external active mandates in five different regions: Europe, UK, Japan, Australia ...
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News
ACA says UK needs to rethink occupational policy
UK- Employers, the government and the pensions industry need to come up with ideas for promoting occupational pension schemes or face the alternative of taxpayers having to pay an increasing share of pensioners' incomes, according to the Association of Consulting Actuaries.
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Standard Life sales up 42%
UK- Standard Life Investments has defied flat market conditions and issued encouraging first half results. The subsidiary of the life insurer registered sales of £1.7bn in the six months to May, up 42% on the same period last year.
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Coreper to scrutinise occupational directive
BRUSSELS- The occupational pensions directive is due to be discussed tomorrow at Coreper, the group of member states' permanent representatives, before it is passed on to ECOFIN next week. According to a member of one of the pensions working groups, it is likely that Coreper will reach a common ...
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Quarter of small UK companies to close DB schemes
UK- A quarter of small UK companies with a final salary pension scheme intend to close or wind it up this year, according to new research. In a report by the actuarial consultants Hazell Carr, more than a fifth of the 100 companies covered are closing their schemes to new ...
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Pensions directive finally reaches ECOFIN
BRUSSELS- European finance ministers will be presented with a compromise proposal for the occupational pensions directive when they convene next Tuesday at the ECOFIN meeting.
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Belgian funds lose 5.1% in 2001
BELGIUM- Belgium’s pension funds returned –5.1% in 2001 according to the annual figures released by the country’s pension fund association (BAPF). The drop outstrips 2000’s performance of –0.07% and the 1999 equivalent of 15.3%.
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Mellon names McKay as business development head
UK- Mellon European Fund Services has appointed George McKay as director of business development. Based in London, McKay will be responsible for new business and client relationship management.
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Legal changes set to open up Sweden's mutual funds
SWEDEN- Reform to Sweden’s mutual funds legislation may result in the abolition of capital gains tax for members switching between fund providers. If the move is introduced, it will open the e95bn mutual fund market to foreign investment managers- at present, local banks account for 80% of the business.
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Ex-Rothschild fixed income head joins Morley
UK- Morley fund Management has appointed Rothschild Asset Management’s former head of fixed income Ceris Williams as head of sovereign bonds. Williams will report to Peter Rains, head of fixed income and treasury, when he joins in September.
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Manduca to run Morley's new alternatives division
UK- Morley fund management has named Philip Manduca as head of its new alternative investment division which already has e3.2bn in private equity and hedge funds.
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News
BoNY to administrate Skandia's multi-manager funds
UK- Skandia Multi Manager funds has appointed the Bank of New York to provide administration, accounting and transfer agency services.
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Man buys alternatives manager RMF for $833m
UK/SWITZERLAND- Man Group, the asset manager and broker, has announced it is buying the Switzerland-based alternative investment manager RMF for $833m. RMF is one of Europe’s largest alternative investment managers with $8.5bn in assets under management.
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News
Mercers- funds should scrutinise custodians more
UK- Occupational pension schemes should pay closer attention to custody and the security of their assets according to Mercer Investment Consulting’s response to the latest government consultation document on independent custodians.
