All articles by Helen Avery – Page 52
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US fund management fees are on the rise
US- Fund management fees in the US are on the rise, according to a study by Lipper, mutual fund information and analysis provider. Declining assets within stock funds are behind the rise in management fees says Lipper.
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AP7 completes search for Private equity managers
SWEDEN- Sweden’s seventh national pension fund, AP7, has allocated $84m (e86m) to two US-based private equity fund of fund managers, Hamilton Lane Advisors and HarbourVest Partners. Hamilton Lane will be managing a US private equity fund of fund portfolio balanced between buyout, venture and special situation funds including secondary interests. ...
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Northern Trust adds to multi manager line up
UK- Northern Trust’s multi-manager business has appointed Raphael Robelin of Invesco, and Jonathan Platt of Royal London Asset Management as managers for its UK multi-manager fixed interest fund.
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Research shows take up of unit-linked set to grow
EUROPE- The use of unit-linked investments in pensions and insurance products in Europe is expected to grow, according to research by Cerulli Associates. Worsening demographic trends and corporate scandals have put pressure on Europe’s pay-as-you-go system, pushing alternatives, such as unit linking, to the fore, says Cerulli’s report.
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Bristol opts for manager of manager approach
UK- The University of Bristol has put out to tender a manager of managers (MoM) mandate for its £100m (e158m) pension fund. The scheme is currently managed by Barclays Global Investors and Merrill Lynch IM.
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New PVK rules may leave Dutch funds e15bn short
NETHERLANDS- Dutch companies could end up having to add e15bn a year into their pension schemes in order to meet the guidelines set out by Dutch pensions watchdog, PVK, says Dexia Securities.
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Highlands tenders e475m Rothschild mandate
UK- The Highland Council’s £400m (e633m) pension fund has put out to tender a £300m (e475m) balanced mandate, as a result of current manager, Rothschild’s plans to sell its asset management business.
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Newton launches fund for UK institutional schemes
UK- Newton Fund Managers, UK asset management subsidiary of Mellon Financial, has launched an exempt equity alpha fund aimed at UK institutional pension schemes.
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European cross border property business flourishes
EUROPE- Europe is the preferred location of global cross-border investment activity in real estate, according to international property adviser DTZ, which predicts continued growth in the sector over the next five years.
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Dutch pharmacists' fund announces new chairman
NETHERLANDS- The e800m Dutch pharmacists’ pension fund, Stichting Pensioenfonds Apothekers (SPA), has appointed Mark Hagenzieker as chairman of its board. Hagenzieker replaces Henk Schut, who is retiring after serving on the board for over 20 years.
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UK DB closures have already cost members e1.27bn
UK- UK pension fund members have missed out on up to £800m (e1.27bn) of benefits as a result of final salary schemes winding up inefficiently, according to actuarial consultants HighamNobbs.
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ABP subsidiary launches global SRI fund
NETHERLANDS- Dutch fund manager Loyalis, a subsidiary of ABP, is launching a global SRI fund which will be open to pension funds worldwide. ABP is the first pension fund to participate.
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DaimlerChrysler faces e5.5bn pensions shortfall
US/GERMANY- US/German group DaimlerChrysler faces underfunded pension obligations to the tune of e5.5bn by the end of 2002 if capital markets remain at current levels.
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France's FCPE funds lose 22.9% in year to July
FRANCE- France’s employee investment funds reported negative returns on equities in the year to July, according to French asset management association, AFG-ASFFI, and investor information provider, EuroPerformance.
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Opra reconsiders role of pensions whistleblowers
UK- The Occupational Pensions Regulatory Authority (Opra) is reviewing its guidance for auditors and actuaries as whistleblowers, with the aim of reducing the high number of reports on minor breaches, and enabling it to concentrate on other areas.
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Ashburton launches money market fund
JERSEY- Ashburton, the Jersey-based investment manager, has launched its first money market funds denominated in sterling, euro and US dollar, which will provide retail investors with the same opportunities as institutional investors of money market funds.
