All articles by IPE – Page 54
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Features
Survey understates use of outside custodians in UK
The major recent survey by the National Association of Pensions Funds found that only 75% of 600 or so UK private sector schemes responding used an outside custodian. Among public authority schemes only 61% of the 56 schemes used outside custodians.But the NAPF believes these responses understate the true position ...
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Features
Italian pension funds on standby
Over 800 hundred pension funds, created by Italian banks, insurance companies and mutual funds are awaiting the final decree in a series issued by the Italian government since the start of the year which will officially set up private pension provision. This decree, which is considered the most important is ...
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Features
SSGA's direct venture
Prompted by demand from institutional and other clients, State Street Global Advisors (SSGA) are extending their investment activities into direct equity investment and other alternative asset classes. In the first of what a company spokesman said should be a series of similar moves in 1997 and beyond, SSGA have announced ...
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Features
USA: US markets still in business
Optimism, albeit cautious, about the US equity market is the view emanating from Trish Bridson, assistant director and head of North American equities at Kleinwort Benson in London. She says: “We see growth of between eight and 10%, driv-en mainly by earnings growth which we also think will grow by ...
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Features
Australia: Country risk premium to fade
After a two year run which saw industrial shares rise by 40%, Australian analysts are wary as to where things go from here. Chris Walker, head of Australian equities at Colonial Investment management in Melbourne, says: The rise occurred without much in the way of earnings growth. A lot of ...
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Features
EFRP appointment to turn up the EU heat
The European Federation for Retirement Provision is to intensify its European Union lobbying effort with the appointment of a full-time Brussels-based secretary general in June this year. The EFRP has already offered the position to someone but the appointment is still to be confirmed. Colin Steward, the EFRP’s current part-time ...
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Features
UK: PFPVs make progress
Progress towards setting up Pooled Fund Pension Vehicles (PFPVs) continues, with the Guernsey and Jersey authorities giving a yes vote to the plan. Approaches have been made or are due to be made to 13 other national tax authorities, while Ernst and Young, the firm overseeing the introduction of PFPVs, ...
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Features
UK: Prospect of steady growth
The minimum funding requirement (MFR) will have little impact on the investment strategy of the £1.5bn ($2.4bn) Philips UK Pension Fund as the fund carried out an asset liability study in 1993. It has since moved from a minimal position in index-linked gilts to a current holding of over £400mn ...
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Features
Managers get rises
In a recent report Greenwich Associates, assessing the rarely examined area of compensation, shows most compensation rising significantly, but with a relative fall in the position of funds from American owned subsidiaries. The population for this survey was 354 of the largest tax exempt funds in the UK, representing 73% ...
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Features
Feeling the heat
British pension fund managers themselves say they are shying away from the UK stock market as the year begins, amid worries that equities are overvalued. The economy may overheat around general election time, raising concerns about inflation which could in turn lead to a burst of monetary tightening later on, ...
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Features
Another good year for UK fund performance
UK pension funds have had another good year, according to both UK investment performance measurement companies. The WM Company, with over 75% of the UK market, and CAPS, with 22%, both calculate that pension funds enjoyed an overall average return of over 11% in 1996. (CAPS figures are provisional.) For ...
