All articles by Hugh Wheelan – Page 18
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Unilever trustee chairman takes the witness stand
UK – Unilever and Merrill Lynch Investment Managers (MLIM) re-entered the high court today (Oct 25) for the second week of legal action, following the Unilever Superannuation fund’s (USF) decision to sue MLIM for £130m alleging negligence in the management of its assets between January 1, 1997 and March 31, ...
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AIMR establishes $1m 'September 11' fund
US - The Association for Investment Management and Research (AIMR), which lost at least 56 of its members and chartered financial analysts (CFA) candidates in the terrorist attacks of 11 September, is establishing a $1m scholarship fund to benefit disabled survivors and the families of victims. ...
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Watson Wyatt loses senior Swiss consultant
SWITZERLAND – Watson Wyatt in Switzerland has lost one of its senior investment consultants with the departure of Gioacchino Puglia to Swiss private bank Darier Hentsch....
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Dutch construction fund splits into three schemes
NETHERLANDS – The NLG500m pension fund for construction related group, NBM Amstelland, is to divide into three different schemes after the company was split up, in a move that has put a number of investment management and administration mandates up for grabs in the Dutch market....
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e150bn ABP fund launches Loyalis insurance arm
NETHERLANDS – The e150bn ABP pension fund has re-branded its insurance division as Loyalis, dropping the former ABP Insurance name in line with legislation to come into the Netherlands from January 1 next year....
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e150m Italian electric fund appoints five managers
ITALY – Fopen, the e150m pension fund for employees of the Italian electricity utility, Enel, has appointed five new investment managers to the fund – two overseas and three domestic players....
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Karas accuses ECOFIN of delay tactics on pensions
EUROPE - Othmar Karas, the European Parliament rapporteur for the occupational pensions directive, has hit out at the lack of progress made in the ECOFIN meeting of October 16 and accused the Council of Ministers of delaying tactics over the pensions debate.....
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US DB plans 'fine-tuning' portfolios, says Mercer
US - Defined benefit plan sponsors are fine-tuning their investment portfolios rather than making any dramatic changes, according to a survey by consultant William. M. Mercer....
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COREDEAL and EuroMTS strike debt platform deal
UK - COREDEAL, the European screen-based exchange for international credit trading, has entered into a proposed partnership with EuroMTS, the leading pan-European trading platform for government benchmark securities....
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Hermes Pensions joins Railtrack shareholder fight
Hermes Pensions Management (Hermes), the wholly owned investment manager of the UK’s BT pension scheme, has joined the Railtrack Shareholders’ Action Group, a coalition of Railtrack investors fighting for the interests of shareholders following the UK government's decision to force the firm into administration....
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Crédit Agricole starts funds in Holland and Norway
NETHERLANDS/NORWAY – Crédit Agricole has gained approval from regulatory authorities in both the Netherlands and Norway to begin marketing the group’s Luxembourg-domiciled SICAV, CA-Funds, to institutional investors....
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UK balanced funds record worst returns since 1990
UK - Balanced funds have recorded their worst performance figures since the third quarter of 1990 during the last three months with a median return of –12.6%, according to the CAPS pooled pension fund survey Q3 2001 results....
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EC moves towards SRI standardisation welcomed
EUROPE – European Commission moves towards standardisation of SRI investment principles have been welcomed by Claudia Kruse, a leading UK SRI researcher, with a caveat that their implementation may not be so easy....
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ECOFIN gives 'five minutes' to pensions directive
EUROPEAN DIRECTIVE SPECIAL – The meeting of the Council of Economics and Finance Ministers (ECOFIN) in Luxembourg yesterday (Oct 16), gave little more than five minutes to the question of the European pensions directive and appears to have made scant headway in bringing a solution to the table for pan-European ...
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Bolkestein: EU directive is going 'nowhere fast'
EUROPEAN DIRECTIVE SPECIAL – EC Commissioner Frits Bolkestein has expressed his ‘deep concern’ to the European Council about the lack of priority given to the proposed European directive on occupational pension funds presented by the Commission a year ago, warning that it is going ‘nowhere fast’....
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Dutch custodian rebrands to become KAS BANK
NETHERLANDS – Dutch custody bank Kas-Associatie is to rebrand in the new year to become KAS BANK....
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Rothschild names new fixed income head
UK - Rothschild Asset Management (RAM) has appointed Abdallah Nauphal as the new head of its fixed income & currency group....
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France must fund reserve rapidly, says think-tank
FRANCE – The French government should fund the country’s pensions reserve fund as quickly as possible and ensure the money is managed in a dynamic fashion as one of a number of measures to avoid the much trailed “demographic shock” of 2040, according to French think-tank Futuribles....
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Unilever/Merrill case enters the High Court
UK - The £4bn Unilever Superannuation Fund (USF) finally brought its £130m (e207m) law suit against Mercury Asset Management (now Merrill Lynch Investment Managers) to the High Court today, despite weeks of negotiation in an attempt to settle the case out of court....
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Credit Suisse buys SLC Asset Management
UK - Credit Suisse Asset Management (CSAM) has acquired SLC Asset Management Group (SLCAM), the UK asset management subsidiary of Sun Life Financial of Canada, in a deal that will add around £11bn to CSAM’s assets under management.....
