All articles by Helen Avery – Page 38
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Investors need to assess climate risk - report
UK – Investors who fail to pay attention to climate risks in their asset allocations are putting themselves in danger of financial risk – so says a report by the institutional investor-backed Carbon Disclosure Project.
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Credit Lyonnais’ asset management profits slip
FRANCE – French bank Credit Lyonnais’ asset management business saw its 2002 net profits fall 5.6% to 203 million euros.
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Odey launches pan-European UCITS
EUROPE – Odey Asset Management has launched a pan-European Dublin-registered UCITS targeting international and offshore investors.
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PPI warns of serious crisis in UK pensions
UK – The UK state pension system has come under fire from the Pensions Policy Institute research organisation, which warns that “a serious crisis is looming”.
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Firms petition European Commission on SRI
EUROPE – Fifty European organisations, businesses and professionals have submitted a formal petition to the European Commission to include provisions related to social responsibility in its new directives on prospectus obligations.
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SSGA wins e224m Xerox enhanced index mandate
UK – The 2.2 billion euro UK pension fund of document company Xerox has appointed State Street Global Advisors to run a 150 million pound (224 million euro) global enhanced indexing equity mandate.
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Number of SRI funds in France doubles
FRANCE – The number of socially responsible investment funds in France doubled in 2002, according to research conducted by CDC’s SRI subsidiary Novethic and consultant Amadeis.
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Moody’s will not follow S&P's lead on pensions
EUROPE – Ratings agency Moody’s says it does not intend to follow Standard & Poor’s by conducting an in-depth study into European companies’ pensions liabilities.
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Fund tenders two high-yield mandates on IPE-Quest
GERMANY – A German corporate pension fund has put out to tender two high yield mandates in excess of 100 million dollars via IPE-Quest.
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e525m Wolters Kluwer fund selects multi-manager
NETHERLANDS - The Dutch 525 million euro pension fund, Stichting Pensioenfonds Wolters Kluwer Nederland, has appointed manager of managers Frank Russell to run three multi-manager equity funds.
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Axa IM names head of institutional sales
FRANCE – Axa Investment Managers has appointed Nathalie Boullefort-Fulconis as global head of institutional sales and member of the executive committee.
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TPG surprised at S&P pension rating
NETHERLANDS – TPG, the Dutch logistics firm, has said it is surprised to be one of the companies put on credit watch by ratings firm Standard & Poor’s because of unfounded pension liabilities.
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Dutch SNT names TKP as administrator
NETHERLANDS – The newly established corporate pension fund for Dutch customer relationship management firm SNT has appointed TKP Pensioen as its administrator.
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40% of PE fund of funds managers under threat
GLOBAL – Rapid growth in the private equity market may spell good news for fund of funds managers, but only those offering distinct strategies will last the duration, according to a report by London-based private equity research firm AltAssets.
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Consultant calls for bond product improvement
UK – Asset managers serving the pensions market should align their bond management products more closely with the liability needs of pension funds, urges consultants Hewitt Bacon & Woodrow.
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Dutch fund seeks E35m emerging market debt manager
NETHERLANDS - A Dutch pension fund has put out to tender a 35 million euro global emerging markets debt mandate via IPE-Quest.
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EC pension tax moves given thumbs up by Mercer
EUROPE - The European Commission’s recent move against discriminatory tax treatment in six EU states will favour cross-border mobility and could accelerate the move away from generous state pensions in Europe, says Mercer Human Resource Consulting.
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Shropshire CC fund looks for US equity manager
UK – The 450 million pound (678.5 million euro) Shropshire county council pension fund has put out to tender a 40 million pound (60 million euro) active US equity mandate.
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KPMG sees higher appetite for private equity
UK – Institutional investors’ appetite for private equity as an asset class is increasing, according to a survey by KPMG’s private equity group, and the fund of funds sector could be first in line to take advantage.
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SEI wins e45.4m global equity mandate from AEP
UK – AEP Energy Services Generation Ltd.’s pension fund has appointed manager of managers SEI Investments to run a 30 million pound (45.4 million euro) global equity mandate.
