All articles by Helen Avery – Page 54
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ING and BoNY enter European alliance
EUROPE- ING and the Bank of New York are to create a European commercial alliance focusing on sales, marketing and servicing of global custody and related services. The alliance will see the two entities jointly offering services to institutional clients in Germany, the Benelux and Central and Eastern Europe over ...
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Suffolk tenders e47m private equity mandate
UK- Suffolk county council has put out to tender a £30m (e47m) private equity fund of funds mandate, joining a growing list of UK local authorities to re-allocate assets to the alternative class.
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Capital secures e158m UK council mandate
UK- Shetland Islands County Council has awarded the mandate for its £100m (e158m) pension fund to Capital International. UBS Global Asset Management, formerly Phillips & Drew, had been running the portfolio for five years, but lost the beauty parade when the five-year mandate period was over.
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Putnam to take over e2.8bn of BT FM's assets
AUSTRALIA/US- BT Funds Management, the Australian global investment manager, will see US-based Putnam Investments take over management of A$5bn (e2.79bn) of its international equity assets when the Westpac acquisition of the majority of the BT Financial Group closes at the end of October.
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Italian banks set to launch bonds indexed to gold
ITALY- The treasury of Italy’s regional banks (banche popolari) has unveiled plans to issue gold index bonds – bonds with returns linked to the price of gold. The bonds will be aimed at risk-averse investors, and will carry a rating of AAA or AA+, but some market officials question whether ...
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Scottish Widows denies unfair play in GAR policies
UK – UK insurer, Scottish Widows, has issued a statement stressing that it does not operate different bonus procedures for pension policies with guaranteed annuity rates. The announcement follows complaints from a handful of its policyholders.
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Good past performance ‘carries forward’ says IMA
UK - UK equity funds with top quartile past performance are more likely to perform well in the future, according to research commissioned by the Investment Management Association, (IMA).
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Schroders appoints Johansen for Nordic sales
SWEDEN - Schroder Investment Management has bolstered its Nordic sales team with the appointment of Viggo Johansen as sales manager for Sweden and Finland.
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Investor relations key to share price movements
GLOBAL - Companies should pay more attention to their investor relations in order to avoid major shifts in share price, according to a report out by Ernst & Young, accounting company, and Oxford Metrica, independent strategic adviser
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Norton to head Goldman’s PE European marketing
EUROPE - Goldman Sachs Asset Management Private Equity Group is making a further push into Europe with the appointment of Clive Norton to head up the group’s European marketing efforts.
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Software to calculate FRS17 figures from UBSL
UK - Large PLCs will now be able to calculate their own FRS17 figures, rather than wait for an actuary report, with a new FRS17 calculator from UBSL, pensions software solutions company.
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Dutch professional funds face new legal move
NETHERLANDS - A draft of the amended Bpr law is expected to be presented to the Dutch parliament at the beginning of next year.
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Union calls to reduce UK benefit discrimination
UK- Hundreds of thousands of women, young people and those in same-sex relationships in the UK are missing out on pension monies because the law discriminates against them, according to the Transport and General Workers’ Union (T&G).
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State Street’s Bourven to chair French market body
FRANCE-The French financial markets council (CMF) has appointed State Street’s Monique Bourven to replace Jean-Francois Lepetit as its chairman.
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French industry see assets rise 20% in 2001
FRANCE-French asset management companies saw their operating profits fall 20.4% in 2001 in spite of an increase in assets under management, reports the Commission des operations de bourse (COB), the regulatory agency appointed by the government to oversee the protections of investors.
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Russian pension reform opportunity for managers
RUSSIA - Pension system reforms in Russia and the CIS could open doors to those countries for foreign fund managers.
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Ukraine facing ‘pensions timebomb’
UKRAINE – The Ukraine is in urgent need of reforms to its pension system, but it is unlikely that changes will be brought in until 2005 at the earliest.
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British factory strikes over pension change
UK- Midlands-based car battery factory, Yuasa Automotive Batteries, has become the fourth UK firm this year to announce the closure of its final salary scheme to current employees, fuelling a day-long strike from its employees
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Asset-backed investments find favour in Europe
EUROPE - Almost e92bn of new asset-backed debt has been sold into Europe so far this year, according to Deutsche Bank, indicating that the market sector is becoming increasingly popular among investors.
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Prudential in strike threat over DC move
UK - Amicus, the UK’s largest private sector union, is threatening strike action following major insurer Prudential’s decision to change the pension scheme for new employees from a defined benefit system to a defined contribution system
