Advisers – Page 118
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News
Axa hires Nutbrown for new tactical asset allocation division
Axa Investment Managers has hired Kieron Nutbrown to take the new role of head of tactical asset allocation (TAA) under his old boss, Paul Griffiths.
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UK's Pension Protection Fund picks directors
The UK’s safety net for bust pension funds has appointed five non-executive directors, including the chairman of the £17bn Electricity Supply scheme, which has previously been critical of government attempts to help.
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Multinationals to consolidate pension advice - survey
GLOBAL – Multinational companies are likely to consolidate their pension advisors and service providers as they seek to exploit economies of scale, a new survey has claimed.
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IMF adds voice to chorus wanting Europe to increase retirement age
EUROPE - The International Monetary Fund has added its voice to the growing number of calls for Europe to urgently raise its retirement age.
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Ireland’s Hibernian names new life & pensions MD
IRELAND – Hibernian has named group finance director Tony O’Riordan as managing director of its Life & Pensions arm.
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New Italian institutional fund launched
ITALY - Italian asset manager Arca SGR has launched a mutual fund to meet the needs of institutional investors called Anfiteatro – MultiInvestmentFund.
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UK accountants want ‘root & branch’ IAS19 reform
UK – The new international pension accounting standard IAS19 needs “root and branch” reform, says Eric Anstee, chief executive of the Institute of Chartered Accountants in England and Wales.
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Germany: Activest to cut 10% of fund managers
GERMANY - Activest, Germany’s fifth-largest provider of institutional funds, has confirmed plans to let go around 10% of the 80 fund managers it employs for both mutual and institutional funds.
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Three top executives leave Dutch doctors scheme
NETHERLANDS – The 10.5 billion-euro SBA Artsenpensioenfonds (Pension Fund for General Practitioners and Medical Specialists) in the Netherlands has lost three senior executives over the course of three months, it has emerged.
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Hazell Carr’s Donaldson joins Higham Group
UK – Pensions outsourcing firm Higham Group has hired Kenneth Donaldson from Hazell Carr Pensions Consulting to be director of business development, pensions.
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Sweden sees surge in pension spending
SWEDEN – The Swedish Ministry of Finance says pension expenditure will rise to more than 10% of gross domestic product in the next 30 years.
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Italian railway scheme selects first managers
ITALY - Eurofer, the 104 million-euro pension fund for railway workers, has selected its first asset managers.
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IPE-QUEST: Swiss client tenders fixed interest
SWITZERLAND - Investment consultant Kieger has tendered 100 million francs (65.8 million euros) in fixed interest on behalf of a corporate treasury client via IPE-Quest.
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F&C says poised to decide on outsourcing
EUROPE – The merged F&C-ISIS is poised to issue an announcement tomorrow about the outsourcing deals the combined group has with J P Morgan and Mellon.
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Average UK pension pay is £79,000 – report
UK – Professionals in the UK pensions industry earn an average 79,000 pounds (112,800 euros) a year, according to a report by Greenwich Associates.
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Czech pension fund clients rise to 2.86m
CZECH REPUBLIC - The number of privately insured Czechs rose to 2.86 million as of September 2004 from 2.74 million in December 2003, the Finance Ministry has said.
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Aon ousts Watson Wyatt at TV news firm
UK - Aon Consulting says it has ousted Watson Wyatt Worldwide as investment consultant for the Independent Television News Ltd (ITN) Pension Scheme.
