All articles by Helen Avery – Page 18
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UK issues new corporate governance code
UK – The final redraft of the Combined Code on corporate governance, following the Higgs Review into non-executive directors, has received the thumbs up from institutional investor bodies.
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German equities best for German funds - BVI
GERMANY – German equities was the best performing asset class for German funds in the first half of the year, according to the BVI Bundesverband Investment und Asset Management.
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Pension fund seen as key to Belgacom privatisation
BELGIUM – The Belgian government may have to take over Belgacom’s employee pension fund if it is serious about privatising the national telecoms operator.
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HSBC AM names Lyne as institutional director
UK – HSBC Asset Management has appointed Julian Lyne as director of institutional business.
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FirstRand signals sale of Ansbacher
EUROPE – South African financial services firm FirstRand has announced it will be looking to sell or part-sell Ansbacher -though it will retain the multi-manager subsidiary.
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France sees increase in pension contributions
FRANCE – French labour minister Francois Fillon has announced that there may have to be an increase in pension contributions, particularly by employers, if early retirement does not slow down.
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Northants seeks replacement for Watson
UK – Northamptonshire County Council pension fund has put out to tender a mandate for a scheme actuary to replace Watson Wyatt.
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UK balanced pooled funds return 11% - HSBC
UK – Balanced pooled pension funds returned 11.4% in the second quarter of 2003, with Glasgow Investment Managers the best performing fund manager – according to HSBC.
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ECB pension plan announces manager and custody tender
GERMANY – The European Central Bank is looking for investment managers and a custodian for its 70 million euro retirement plan.
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Mercer opens new German investment consulting arm
GERMANY – Mercer Investment Consulting is to launch a new investment consulting practice in Germany.
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Pioneer poaches BAM's Robson to head up global equities team
IRELAND – Pioneer Investments has appointed Neil Robson as new head of global equities in Dublin.
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Norwegian Petroleum Fund proposes new ethical investment guidelines
NORWAY – New proposals for the 86.5 billion euro Norwegian Government Petroleum Fund suggest imposing constraints that will see the fund invest only in ethically sound securities.
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French government tackles final part of pensions reform bill
FRANCE – The French senate is broaching the final issue of the pensions reform bill today – the introduction of new individual retirement savings plans.
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IPE sets up outstanding industry contribution award
EUROPE – IPE has opened nominations for the “Outstanding Industry Contribution”, to be declared at the annual IPE Awards on November 20 2003 in Amsterdam.
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Chevron Texaco hires CSAM for UK bond brief
UK – Chevron Texaco pension scheme has appointed Credit Suisse Asset Management as manager for a 70 million pound (98.9 million euro) UK fixed income portfolio.
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Belgacom rings up poor performance figures for 2002
BELGIUM – Belgacom pension fund, Belgian’s largest, has released its 2002 figures, which show a negative return of 7.5%.
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New German pension accounting standard postponed
GERMANY – The German accounting standard for pension obligations, DRS-19, which was expected to be approved by the Ministry of Law this summer, has been postponed indefinitely.
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German institution tenders for corporate bond manager
GERMANY – A German institutional investor has put out to tender a global investment grade corporate bond mandate via IPE-Quest.
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Merrills bolsters global equity team
UK – Merrill Lynch has bolstered its global equity team with the appointment of John Leonard as a fund manager.
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PGGM hits positive results trail for first half of year
NETHERLANDS – Dutch healthcare and social service pension fund, PGGM, has announced positive returns of 8% for the second quarter, and 5.9% for the first half of 2003.
