All articles by Dickon Reid – Page 28
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CDC IXIS appoints head of derivatives
UK- CDC IXIS Capital Markets, the French investment bank, has appointed Guido Rauch as its new head of derivatives marketing and manager of the London office and Ana Diaz has been appointed head of origination in London.
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Inalytics/Euraplan deal boosts trade cost analysis
UK- Pension funds will have easier access to trading cost analysis following a marketing link up between the transaction cost measurement company Inalytics and Euraplan, the provider of pension fund monitoring and accounting software.
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Punter Southall launches executive pensions unit
UK- Linda Clark is to head a new specialist unit launched by the consulting actuaries Punter Southall and dedicated to retirement planning for senior executives. Clark joins Punter Southall after eighteen years as a consultant with Hymans Robertson.
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Spanish minister pushes for quicker reforms
SPAIN/BELGIUM- An informal meeting of Europe’s employment and social policy ministers in the Spanish city of Burgos ended on Saturday with the Spanish minister for labour and social affairs, Juan Carlos Aparicio, demonstrating a sense of urgency saying that five years on from the Luxembourg agreement and reform is now ...
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Pooled property funds are best performers for 2001
UK- Figures released by HSBC and the Association of Property Unit Trusts (APUT) show pooled property funds have outperformed equities and gilts for the second year running.
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Standard Life takes £220m mandate from Aberdeen
UK- Standard Life Investments has replaced Aberdeen Property AM as managers of the £2.2bn South Yorkshire pension fund’s £220m segregated property portfolio. The portfolio comprises a mix of retail, office and industrial premises.
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Watson Wyatt recruits ex-CEO of Old Mutual AM
UK- Consultant Watson Wyatt has appointed Kevin Carter, an ex-CEO and CIO of Old Mutual Asset Managers as a senior partner to its investment practice. While at Old Mutual he managed both UK and US operations.
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EU ministers meet in Spain for pensions debate
EU/SPAIN- European ministers for employment and social policy are congregating tomorrow in the Spanish town of Burgos to discuss social protection and employment. The Spanish presidency says the future viability of pension systems and full employment will top the bill.
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O'Connell to head new pensions research institute
UK- Former head of strategy at Swiss Re Alison O’Connell is to become the first director of the Pensions Policy Institute (PPI), a new group established to research pensions. The institute is a result of a 1998 report by the government’s Pension Provisions Group that recommended the creation of an ...
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UK/Eurozone funds to cut cross border holdings
EUROPE- FRS17 and falling equity markets are leading UK and Eurozone pension funds to take a more conservative approach to their asset allocation, to switch from equities into bonds and to cut their cross border holdings in favour of local assets according to research by State Street Global Markets (SSGM).
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Treasurers warm to outsourcing and online dealing
GLOBAL- Corporate treasurers are becoming much happier outsourcing their activities in an attempt to manage risk and control costs, according to the latest cash management survey by JPMorgan Fleming AM and the Association of Corporate Treasurers.
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Aberdeen City picks FIS & SSgA for passive SRI
UK- Aberdeen City Council pension fund is applying Friend’s Ivory & Sime’s responsible engagement overlay (reo) programme to its £300m passive portfolio run by State Street Global Advisors.
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More UK funds to move from surplus to deficit
UK- The announcement by the £40m pension fund of UK-based department store operator James Beattie that poor management of its assets and falling equity markets has hit its surplus for over 60% will soon be followed by similar announcements from other funds according to the finance director Bill Kelly.
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BoNY takes onshore custody and admin to Belgium
BELGIUM- The Bank of New York’s Luxembourg subsidiary has opened a depository bank in Belgium that will enable it to offer custody and administration services to Belgium-domiciled collective investment undertakings (UCIs).
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Legal changes in Belgium reach 'final stages'
BELGIUM- Legislative changes to Belgium’s occupational pension schemes are set to clear the next hurdle if the parliamentary debate is completed on time at the end of the month.
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European ETF assets grow 800% in 2001
GLOBAL- Assets invested in exchange traded funds listed on European exchanges grew more than 800% in 2001 to top $5.6bn (e6.3bn) according to research by Morgan Stanley. Recent figures show there are 71 ETFs with 92 listings on six European exchanges.
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Austria's APK appoints Boehm to replace CEO Kapl
AUSTRIA- Austria’s e1.5bn APK pension fund has appointed Christian Boehm to succeed Helmut Kapl as chief executive. Boehm has been with APK since its creation in 1989 and was previously Kapl’s second in command.
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Tayside opts for Northern Trust to provide custody
UK- Dundee city council’s £930m (e1.5bn) Tayside Superannuation Fund has selected Northern Trust from a shortlist of three candidates to provide custody and other securities services including securities lending, cash management, web-based reporting and other related securities services.
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Dresdner adds to its UK and European equity team
UK- Dresdner RCM is adding to its UK and European equity team with the appointment of Mark Lovett as a portfolio manager. Lovett will report to Neil Dwane, chief investment officer for Dresdner Global Investors in London.
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2001 sees corporate defaults reach record levels
GLOBAL- Corporate defaults reached record levels in 2001 with 211 issuers defaulting on $115bn (e129bn) of debt, according to figures released by rating agency Standard & Poor’s.
