All articles by Robert Melia Watson – Page 4
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News
Ahto joins PIMCO in London from Deustche
UK/EUROPE – California-based fixed income management company, PIMCO, has appointed Laura Ahto as senior vice president and head of operations and administration to its London office.
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Dow Jones launches six new European indices
EUROPE – New York-based indices provider, Dow Jones Indexes, has launched six new European country-specific Dow Jones STOXX value and growth indices. The countries concerned are France, Germany, Italy, the Netherlands, Sweden and UK.
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UK � London based global equity management group
UK – London based global equity management group, Axa Rosenberg Investment Management, has appointed Stephen Millar as new head of UK sales. Millar has a specific mandate to bring in new institutional clients.
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Low Riester take-up may mean compulsory pensions
GERMANY – People may find themselves obliged to take out personal pension cover if the take-up rate of private Riester pensions doesn’t improve soon, warns Deutsche Bank Research (DB) in Frankfurt.
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UK £58bn civil service scheme to go part-funded
UK – The Cabinet Office is to introduce a new funded component in its pensions scheme, the Principal Civil Service Pension Scheme (PCSPS), following a four-year review, the first for 30 years, that was designed to modernise the scheme, which currently has liabilities of some £58bn (€92.3bn).
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Unigestion make senior moves in London and Geneva
SWITZERLAND/UK – Geneva-based alternative investment management group, Unigestion, has made three senior appointments to its teams in London and Geneva.
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Risk is key investor concern in manager selection
EUROPE – Risk control is now the most important factor investors consider when employing external asset managers, according to the latest Invesco annual survey of European institutional investors and their markets. In sharp contrast, risk control didn’t even figure in the top six factors in 2000.
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State Street appoints equity sales head for Europe
UK/EUROPE – Boston-based financial services group, State Street Corporation, has appointed Justin Shinebourne as head of its equity sales for Europe.
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Gartmore converts funds to OIECs for Europe drive
UK – London-based asset management group, Gartmore is to convert its range of 46 unit trusts worth collectively £6.1bn (€9.7bn) into four open-ended investment companies (OEICs) from the end of August.
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AIMA to research extent of UK short-selling
UK – The London-based Alternative Investment Association (AIMA) has welcomed the news that the Financial Services Authority (FSA), the UK’s financial industry watchdog, has called for greater disclosure on short- selling.
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UK MP scheme to review investment advisor
UK – The £300m (€475m) Parliamentary Contributory pension scheme, the pension fund for UK members of parliament (MPs) is reviewing its investment advisor Hewitt, Bacon & Woodrow.
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CEA- companies need more say in EU regulator
EUROPE – The Paris-based Comité Européen des Assurances (CEA), the European insurance industry federation, has welcomed the EU’s recent public hearing on the supervision and regulation of financial services but fears the subsequent consultation process won’t go far enough.
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Italian pensions reform stalls again
ITALY – Recent discussions between the Italian government and Italy’s main unions about reforming the country’s pensions system have resulted in deadlock.
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Fortune AM beefs up marketing team
UK– London-based alternative asset management group, Fortune Asset Management, has appointed Peter Arkell and John McDonald as directors within its marketing team in London.
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FSA to investigate short-selling
UK – The Financial Services Authority (FSA) has called for greater disclosure among hedge funds ‘selling short’, amid criticism in the industry that the practice is having a detrimental effect on already-depressed markets.
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Fund of funds to overtake MoM market by 2007
EUROPE – The retail funds-of-funds market will overtake the manager-of-manager business in Europe by 2007, taking 67% of market share as opposed to 47% in 2001, says research firm, Cerulli Associates, though the manager-of-manager business will see concentrated growth in the UK among institutional investors.
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100,000 join chemical fund in three months
GERMANY – The German chemical industry’s sector-wide supplementary pension fund, Chemie Pensionsfonds, has already signed up 160 large and mid-size companies, representing over 100,000 workers, since gaining regulatory approval in April.
