Markets – Page 256

  • News

    IPE announces 2002 pension fund awards winners

    4 October 2002

    EUROPE- IPE Magazine has announced the winners of its 2002 pension fund awards for both “investment strategy” and “fund structure and administration”. Entrants were judged by selected panels of experts selected country by country.

  • News

    TIAA-CREF and CalPERS to challenge executive pay

    3 October 2002

    US- Two of the world's largest pension funds, TIAA-CREF and CalPERS, are planning to target companies that offer over-generous pay schemes, and to request changes from their boards.

  • News

    German institutions slash equity holdings to 19%

    1 October 2002

    GERMANY- German institutions have decreased their asset allocation to European stocks from an aggregate 27% to 19% over the last two years, according to a survey by US-based consultants, Greenwich Associates.

  • News

    Morley names head of alternative investments

    1 October 2002

    UK- Morley Fund Management has appointed Peter Rains as head of alternative investments, in addition to his role of head of fixed income.

  • News

    Cardano hires NIB's ex-CIO van Gelderen

    1 October 2002

    NETHERLANDS- Cardano Risk Management, the Dutch derivatives and ALM research firm has appointed Eduard van Gelderen as a director responsible for marketing its products.

  • News

    Northern Trust to buy Deutsche's passive business

    27 September 2002

    GERMANY- Deutsche Bank has signed an agreement to sell its passive asset management business to Northern Trust Corporation. The transaction is expected to be completed in the next three to six months, at an estimated price of $260m.

  • News

    SWIP beefs up US division with Schroders hire

    27 September 2002

    UK/US- Scottish Widows Investment Partnership has announced the appointment of Phil Chappell as investment director for US markets. Chappell joins at the beginning of next month and will report to Graham Wood, head of global sectors and international research.

  • News

    Axa transfers e5.6bn to Axa Rosenberg

    27 September 2002

    UK- AXA IM will transfer approximately £3.5bn (e5.6bn) of its Continental Europe and global equity mandates to its specialist global equity affiliate, AXA Rosenberg, following a strategic review.

  • News

    Schroders replaces Invesco on e50m Asian fund

    26 September 2002

    UK- Cardiff County Council’s e890m pension scheme has replaced Invesco by Schroders Investment Management as manager for its Asian equity portfolio.

  • News

    BNP launches its UK custody business

    26 September 2002

    UK- BNP Paribas Securities Services has launched a domestic UK securities clearing and custody unit, so that transactions for UK securities can now be processed in London. BNP Paribas’ clearing and custody business now covers 13 markets across Europe.

  • News

    EFRP vice chairman questions EC directive

    26 September 2002

    UK- The European Commission’s occupational pensions directive has come under fire from a prominent European pensions professional who claims that it fails to fulfil one of its main objectives, the liberalisation of investment across Europe.

  • News

    MLIM loses e637m mandate as BAA changes strategy

    25 September 2002

    UK- Merrill Lynch Investment Managers has lost a £400m (e637m) UK equities mandate following the decision by the British Airports Authority pension fund (BAA) to cut its UK exposure in favour of global equities.

  • News

    UK DC schemes can learn from US mistakes

    25 September 2002

    UK/US- As defined benefit schemes in the UK increasingly give way to defined contribution schemes, trustees should look to the US and learn from the mistakes made there over the last twelve years, suggests Don Ezra, director of strategic advice at Frank Russell Company.

  • News

    NAPF leads call for abolition of stamp duty

    24 September 2002

    UK- Leading global financial authorities gathered today to call on the UK government to abolish stamp duty on UK share transactions. The average cost of stamp duty to consumers in defined contribution company pension schemes is about £8,000 over a 25-year contribution period and in the case of defined benefits ...

  • News

    Deheuvels joins AGF as head of equities

    24 September 2002

    FRANCE- AGF Asset Management, part of German insurer Allianz, has appointed Thierry Deheuvels as its head of equity fund management team. He will also undertake responsibility for developing and promoting AGF’s socially responsible investments.

  • News

    F&C appoints Invesco's Broccardo as CIO

    23 September 2002

    UK- F&C Management has appointed Anthony Broccardo as chief investment officer after Arnab Banerji announced earlier this year that he was leaving the company to pursue a career in public services following his appointment as a member of the advisory panel of a government think tank.

  • News

    Fortis opens new office in UK for fixed income

    20 September 2002

    BENELUX/UK- As part of its expansion into fixed income, Fortis Investment Management plans to open a new investment centre in London that will be headed by Guy Williams.

  • News

    Crédit Lyonnais announces new head of fixed income

    20 September 2002

    FRANCE- Crédit Lyonnais Asset Management has appointed Jean-François Boulier as its new deputy chief investment officer and head of fixed income. Based in Paris. Boulier replaces François Marais, who was recently promoted to the position of CIO at CLAM.

  • News

    Robeco buys 60% share in Boston Partners

    19 September 2002

    NETHERLANDS/US- Dutch asset manager Robeco, part of the Rabobank Group, has acquired a 60% participating interest in Boston Partners Asset Management, adding the final piece in Robeco’s establishment of new company Robeco USA. Robeco USA will manage approximately e30bn in assets – 30% of Robeco’s total assets under management.

  • News

    Irish reserve fund to use commission recapture

    17 September 2002

    IRELAND- The National Pension Reserve Fund of Ireland has put out the tender for one or two brokerage commission recapture providers for its equity investments.