All articles by Helen Avery – Page 17
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News
AXA asset management revenues slip 12.3%
FRANCE/US – AXA Group’s asset management subsidiaries’ revenues declined by 12.3% over the first half of 2003.
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CalPERS ends two-year run of negative returns
US – The US’s largest pension fund, CalPERS, has announced positive returns for the year to the end of June 2003.
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Germany sees revival in occupational pensions
GERMANY – The German ministry for health and social security says occupational pensions are undergoing a revival.
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Switzerland’s CSIF says coverage ratio falls to 88%
SWITZERLAND – The 15.7 billion Swiss franc (10.2 billion euro) Civil Service Insurance Fund of the Canton of Zurich has reported a 11.9% loss for 2002, with the coverage ratio falling to 88%.
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BP to inject $2bn into pension schemes
UK/US – Oil giant BP announced today that it would be injecting around two billion dollars into its US and UK funded pension schemes.
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New bus pension scheme chooses Mercer
UK – Mercer Human Resource Consulting has been appointed by the newly established FirstGroup UK bus pension scheme.
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Morley ousts J P Morgan at National Grid fund
UK – The National Grid pension fund has appointed Morley Fund Management to run a 300 million-pound (424 million euro) fixed income mandate, resulting in a loss for J P Morgan Fleming Asset Management.
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New Italian post office pension fund approved
ITALY – The Italian pension fund supervisor COVIP has authorised the establishment of a new pension fund for Italian post offices and their subsidiaries.
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UK pensions institute sets up trustee group
UK – The Pensions Management Institute (PMI) has launched a new Independent Trustees Group in order to improve procedures for opening and closing pension schemes.
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Horlick quits as SGAM’s UK chief
UK – Societe Generale Asset Management UK co-founder Nicola Horlick has stepped down from her role as chief executive.
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Northern Trust hires State Street’s Chapman
UK – Northern Trust has appointed Paul Chapman as head of global fund services relationship management.
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Swiss association set up to protect pensions
SWITZERLAND – A new association to protect Swiss small and medium-sized enterprises has been established to combat moves by insurers to reduce conversion rates and thereby cut pensions.
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French pension bill passes final vote
FRANCE – The French parliament has officially adopted the controversial pension bill reforms that have been debated since January.
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French reserve fund issues E16bn mandate details
FRANCE – The French pension reserve fund has announced details of 27 mandates worth a combined 16 billion euros to be put out to tender in late July or early August this year.
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Aviva’s Morley and Hibernian eye consolidation
IRELAND/UK – A consolidation of Aviva’s two fund managers, Morley Fund Management and Hibernian Investment Managers looks to be on the cards.
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Bond fund assets rise 33% - report
EUROPE - Bond fund assets rose by 33.4% in the six months to the end of May, according to a new report from Fitzrovia International.
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TRW finds replacement for MacDougall
UK – TRW Investment Management has appointed Roisin Magee to replace managing director William MacDougall, who left abruptly earlier this year.
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SSGA enters the ‘unconstrained’ debate
UK – So-called unconstrained mandates may improve returns, but how will those picking managers identify the best, asks State Street Global Advisors’ UK chief investment officer Rick Lacaille.
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Pioneer names German alternatives sales head
IRELAND – Germany’s proposed legislation on hedge funds of funds has led Pioneer Investments to bolster its alternative investment sales team for Germany and Austria.
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University offers asset management degree
UK – With reports that talent is leaving the asset management industry, Brunel University is offering a finance MSc degree specialising in the subject – the first of its kind in the UK with a work placement.
