Advisers – Page 114
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News
Rabobank says swaps may ease Dutch FTK impact
NETHERLANDS – Rabobank says the new Dutch FTK, or financial assessment framework, will have a “marked impact” on Dutch pension schemes’ investment policy – and that a swap overlay strategy could be a solution.
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UBS says institutional business almost doubles
SWITZERLAND –UBS said its Global Asset Management arm reported a pre-tax profit increase of 64% in 2004 and that institutional business almost doubled.
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UK occupational contributions 'rise 50%'
UK - Employer contributions to occupational schemes have risen almost 50% to £8.3bn (€12bn), according to a survey by Incomes Data Services.
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Deutsche denies it plans to sell DeAM in UK
GERMANY - Deutsche Bank has poured cold water on speculation in London that it is on the verge of selling all or part of Deutsche Asset Management in the UK, stressing that its first priority is “to fix the business”.
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ABN Amro AM lost almost 10% of staff in 2004
NETHERLANDS – ABN Amro Asset Management’s staff numbers fell almost 10% in 2004 amid a levelling off of assets under management.
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Expenses scandal at EU social committee
EUROPE - The European Economic and Social Committee, a European Union consultative body set up in 1957, has become embroiled in a scandal over travel expenses.
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French SRI market doubles in two years - survey
FRANCE - Assets of ethical funds in the French market have more than doubled in the past two years, according to socially responsible investing consultant Novethic.
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News
Watson Wyatt & Co. benefits group profit slips
US – US-based Watson Wyatt & Co., which is merging with its European affiliate, saw profits at its benefits group slip more than five percent in the second quarter.
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Ex-PGGM ALM specialist joins central bank
NETHERLANDS – Mohamed Lechkar, who worked on asset liability modelling at the E60bn Dutch health care scheme PGGM, has joined the central bank’s pension supervisory division.
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News
Former Mercer partner sets up advisory firm
UK – Former Mercer worldwide partner Keith Faulkner has set up his own firm advising clients how to deal with pension advisers.
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UK university scheme to provide financial advice
UK – The £20bn (€28.2bn) Universities Superannuation Scheme is to launch a pilot project to provide its members with financial advice.
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Janus boosts German sales team
GERMANY - Janus Capital Group has appointed Thomas Döring to the new position of sales director for the German-speaking countries, effective from 1 February.
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IPE-QUEST: Dutch schemes tender GTAA, equities
NETHERLANDS – Two Dutch pension schemes have tendered separate Japanese equities and global tactical asset allocation briefs via IPE-Quest.
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News
Russia softens reforms to calm public anger
RUSSIA – The government is to increase the monthly labour pension by an average 240 rubles (E6.6) as of March, the Health and Social Development Ministry announced.
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Features
Multi-manager solutions at TKP Investments
In the past few years, more institutional investors have adopted a “multi-manager” investment practice, where they allocate their money over several asset management houses. At TKP Investments (TKPI), an AEGON subsidiary, this investment practice is nothing new. Since 1989, the independent asset manager, formerly known as the pension fund administrator ...
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Features
Risk budgeting takes centre stage
How does ‘new balanced’ asset management work in practice? Allianz Global Investors’ (AGI) product Global Vision provides one example. Global Vision is the brainchild of Lee Thomas, a managing director of PIMCO and the head of its international portfolio. Thomas got the idea when PIMCO, 70% owned by Allianz, absorbed ...
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Features
New fashion balanced
The progressive move by pension funds from balanced to specialist management has been one of the dominant trends in the asset management industry over the past 10 years. The process, which began in the US, has extended to Europe and now seems irreversible. The main reason for the move is ...
