Advisers – Page 117
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UK government report slams actuaries
UK – A new government-sponsored review of the actuaries in the UK has slammed the profession – finding among other things a concentration of advice to the largest pension funds and a possible restriction of competition.
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IAS 19 brought into line with the UK’s FRS 17
GLOBAL -- The International Accounting Standards Board (IASB) has amended the international pension cost standard IAS 19 to bring it into line with the UK retirement benefits standard FRS 17.
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Metzler in German institutional asset boost
GERMANY - Citing robust investor demand for so-called “master funds,” Germany’s Metzler Asset Management says its institutional assets under management (AUM) have increased by almost one-third this year.
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SN says Dutch population ageing rapidly
NETHERLANDS - A quarter of the Dutch population will be over the age of 65 around 2040, Statistics Netherlands has forecast.
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US IT giant EDS to buy Germany’s BHW Invest
GERMANY -- BHW Invest, a German asset manager specialising in the so-called master fund concept, is to be sold to US information technology giant EDS.
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Akzo Nobel feels IFRS impact
NETHERLANDS - Pharmaceutical giant Akzo Nobel is to write down almost €500m in the new year in order to comply with the new international accounting standard.
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Lancashire CC Pension Fund allocates mandates
UK – The £2.5bn (€3.56bn) Lancashire County Council Pension Fund has appointed two new asset managers and retained two of his previous managers in a revamping of its portfolio. The changes followed an investment strategy review earlier this year.
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Thomas Murray sets up alternatives services unit
UK -- London-based securities services ratings, research and advisory firm Thomas Murray has established an alternatives investments services division, Thomas Murray Alternative Investment Services (TMAIS).
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Citigroup consultant head Duffain joins Pioneer
EUROPE - Pioneer Investments says it has hired Kerry Duffain from Citigroup Asset Management to be head of investment consultant relations in Europe.
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UK voluntary schemes in 'last chance saloon'
UNITED KINGDOM – The current voluntary approach to pensions in Britain is in the ‘last chance saloon’, a taskforce has warned.
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Pen-Sam completes DKK6bn mandate switch
DENMARK -- Denmark's DKK47.0bn Pen-Sam Pensionfund has completed a restructuring of some DKK4.5bn of its DKK8bn equity portfolio with the awarding of a DKK1.1bn US equities index mandate to Nordea Investment Management ad a DKK1bn US all-cap equity mandate to T. Rowe Price.
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Dutch schemes go into bonds – statistics office
NETHERLANDS - Insurance companies and pension funds in the Netherlands have significantly increased their investments in foreign bonds, Statistics Netherlands has said.
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Pension portability directive seen in Spring
EUROPE – The European Commission is planning a draft directive on occupational pension portability for next Spring, according to a Brussels-based consultant at Hewitt Associates.
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KPMG critical of Dutch firms’ pension closures
NETHERLANDS – Companies in the Netherlands are too quick to push through closures of their pension funds, accountants at KPMG have said.
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Aon sees Dutch FTK leading to “landslide”
NETHERLANDS - The introduction of new regulations to calculate Dutch pension premiums and commitments will lead to “a landslide”, according to consulting firm Aon.
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Towers Perrin hires two consultants from rivals
EUROPE – Towers Perrin says increasing demand from European multinational companies is behind its recruitment of two consultants from rival firms and the transfer of another from its Toronto office.
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BVK using Alpha advisors for hedge mandates
GERMANY - German investment consultant Alpha Portfolio Advisors says it has been retained by Bayerische Versorgungskammer (BVK) for three fund of hedge fund mandates worth 100 million euros recently allocated by the scheme.
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Dutch SBA shifts investment strategy (Update)
(Updates with more details) NETHERLANDS – The 11 billion-euro SBA Artsenpensioenfonds (Pension Fund for General Practitioners and Medical Specialists) says it will overhaul its investment strategy.
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UK debt office consults on long-dated bonds
UK – The UK’s Debt Management Office has launched a consultation on ultra-long dated government bonds following talks with the pension industry this summer.
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IPE-QUEST: UK pension fund tenders overlay
UK – A UK investment consultant has tendered a currency overlay brief worth 100 million pounds (145 million euros) via IPE-Quest.
