All articles by Helen Avery – Page 47
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News
Diageo's group pensions director Mingle to leave
UK – Global drinks company Diageo’s group pensions and benefits director, Steve Mingle, is to depart at the end of 2002.
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News
UK's NAPF names Faulkner chairman
UK – The National Association of Pension Funds has appointed Terry Faulkner to replace Peter Thompson as its chairman, effective from the NAPF’s annual conference in May 2003.
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News
HBOS confirms e98m acquisition of Rothschild AM
UK – Rothschild’s asset management arm has officially been sold to HBOS’s fund management arm, Insight Investment Management, for 61 million pounds (95.8 million euros).
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News
Daimler's pension deficit larger than forecast
GERMANY – US/German group DaimlerChrysler could be facing underfunded pensions obligations of more than 8 billion euros by the end of 2002, says ratings agency, Standard & Poor’s.
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News
RLAM wins e204m mandate at West Midlands
UK – West Midlands Metropolitan Authorities' four billion pound (6.3 billion euro) pension fund has appointed Royal London Asset Management to run a 130 million pound (204 million euro) UK non-government portfolio.
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Belgacom pension fund tenders equity mandate
BELGIUM – The pension fund of Belgian telecoms provider Belgacom SA has put out to tender an international equity mandate.
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News
Credit Agricole chairman leaves as BNP ups stake
FRANCE- Crédit Agricole’s chairman Marc Bué has resigned, six months before his term was due to end. In his place the board has elected René Carron, chairman of the French bank’s holding company, SAS La Boétie, and of Fédération Nationale du Crédit Agricole (FNCA).
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News
Deutsche AM loses e566m West Sussex mandate
UK – Deutsche Asset Management has lost a 360 million pound (566 million euro) mandate for the West Sussex County Council pension fund. The balanced portfolio, equating to half the entire fund, will now be managed by Edinburgh-based Baillie Gifford.
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News
Cariplo pension fund seeks operating consultant
ITALY – Cariplo’s 2.7 billion euro pension fund says it is looking for an operating consultant to assist in its recent decision to outsource part of the fund to external managers.
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News
AGF reappoints SocGen as global custodian
FRANCE – Société Générale says it has been reappointed as global custodian for Allianz AG’s French insurance subsidiary AGF. The global custody and trustees services for AGF represent 70 billion euros, and the mandate will commence as of July 2003.
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News
Netherlands’ BPMT backs German property fund
GERMANY/NETHERLANDS – The Dutch metalworkers’ pension fund BPMT has backed Warburg-Henderson KAG’s new German property fund by being the lead investor, with an equity commitment of 60 million euros.
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News
Portuguese pension fund returns improve in Q3
PORTUGAL – A change in asset allocation by Portuguese pension funds has resulted in an improvement in returns in the third quarter, according to results published by consultant Watson Wyatt.
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UK's Shropshire to adopt ISIS's SRI 'overlay'
UK – Shropshire County Council’s 520 million pound (814 million euro) pension fund has decided to adopt a socially responsible approach, adding a socially responsible investment overlay provided by ISIS Asset Management to its 80 million pound (125 million euro) UK index portfolio, currently managed by State Street Global Advisors.
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News
Fund managers team up against German tax proposals
EUROPE – Eleven US and European fund managers have joined forces to campaign against the German government’s new tax proposals, which they feel discriminate against foreign investment managers.
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News
Rothschild finds buyer for asset management arm
UK - UK financial services group NM Rothschild is believed to have found a buyer for its asset management business, Rothschild Asset Management. The UK’s fifth largest bank, HBOS Plc, is understood to have entered into exclusive talks to buy the unit for around 100 million pounds (157 million euros). ...
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News
Deutsche AM says UK fixed income chief to leave
UK – Deutsche Asset Management’s chief financial officer for fixed income in the UK, Ian Clarke, will be leaving the company, in what is believed to be a mutual agreement between the two parties.
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News
German regulator Bafin to hire UK's Bauer
GERMANY – Bafin, Germany’s Federal Financial Supervisory Authority, is looking to appoint Helmut Bauer, of the UK’s Financial Services Authority, as head of banking supervision at the regulator.
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Features
Europe is going specialist
With global financial markets continuing their struggle, many European pension funds are taking a closer look at their portfolios, and an increasing number are switching their assets into specialist mandates. A recent study by Mercer Human Resource Consulting revealed a 64% increase in specialist mandates in Europe over the last ...
