Advisers – Page 109
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Features
The role of multi-managers within asset allocation
When asked the question of what role multi-managers should play within the asset allocation requirements of plan sponsors, it is worthwhile considering the current usual arrangements. The traditional mechanism usually involves a sequential and linear relationship between the plan sponsor, the appointed actuarial and benefits consultancy and the appointed fund ...
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News
Schemes’ lack of derivatives expertise ‘an issue’
UK – One of the trustees behind the Friends Provident scheme’s move into derivatives in 2004 has warned that a lack of expertise could be an issue at other pension funds.
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AXA names hedge head
GLOBAL - AXA Investment Managers has Olympia Capital Management's Véronique Courlier as global head of hedge fund activities.
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News
SSGA names European consultant liaison director
EUROPE - State Street Global Advisors has named F&C's Valerie Nicholson as director of marketing and consultant liaison, with a Europe-wide brief.
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BGI says it has two-thirds of bond ETF market
GLOBAL – Barclays Global Investors says its exchange traded funds, iShares, have around two thirds of the $9bn (€6.9bn) fixed income ETF market.
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Pension reform hit as Czech PM resigns
CZECH REPUBLIC – The resignation today of Czech Prime Minister Stanislav Gross appears to have delivered a deathblow to attempts to accomplish pension reform before next year’s general election.
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Watson-Lyonnais court hearing postponed
UK – A court hearing between consulting firm Watson Wyatt and the UK pension fund of French bank Credit Lyonnais over negligence allegations has been postponed to May 9.
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Dutch consultant Strategeon hires ex-ING exec
NETHERLANDS – Strategeon, the consulting firm run by former Watson Wyatt Dutch investment head Paul van Aalst, has hired a former ING Investment Management marketing executive.
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Germany’s EnBW to cut managers in €3.8bn revamp
GERMANY - Energie Baden-Württemberg (EnBW), Germany’s third largest energy firm, is planning a sweeping revamp to its €3.8bn in corporate pension assets.
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Corporate governance manual launched
EUROPE – The CFA Institute has launched a 55-page manual on corporate governance for investors.
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CalSTRS plans $3bn emerging market move
GLOBAL – The $127bn (€97bn) California teachers fund CalSTRS is to launch a search for up to six active equity managers to invest about $3bn in emerging markets, or 10% of its international equity portfolio.
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Watson using psychological tools for managers
GLOBAL – Consulting firm Watson Wyatt has confirmed that it is using “psychological tools” to identify the best investors.
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Clients put $10bn into currency overlay - Mercer
GLOBAL - Mercer Investment Consulting says its clients put $10bn (€7.7bn) into currency overlay mandates in 2004.
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Nestlé defeats pension funds amid “mistrust”
SWITZERLAND – Food group Nestlé has defeated a corporate governance motion brought against it by a group of pension funds - with outgoing chairman Rainer Gut questioning their motives.
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Hymans Robertson names seven new partners
UK – Consulting actuaries Hymans Robertson has named seven new partners, bring the total number of partners to 27.
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IPE-QUEST: Swiss multi-manager tenders €161m
SWITZERLAND - A Swiss multi-manager has tendered a Swiss large cap-core equity mandate worth up to CHF250m (€161m) via IPE-Quest.
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News
OECD sees no evidence of longevity deceleration
GLOBAL – The Organisation for Economic Cooperation and Development says the increase in longevity seems to be a permanent effect.
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Greenwich: foreign exchange becoming asset class
GLOBAL – With volumes up almost 25% last year, foreign exchange is evolving into a separate asset class for “real money” investors, says Greenwich Associates.
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News
Swiss consultancy Allea joins Milliman Global
SWITZERLAND – Employee benefits firm Allea has joined Milliman Global, the consulting network that includes firms such as Fixage in France and Hymans Robertson in the UK.
