Advisers – Page 125
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ABN Amro's institutional AUM fall
EUROPE – Institutional assets under management at ABN Amro’s asset management arm have fallen to around 86.3 billion euros at the second quarter from almost 88 billion euros at the first quarter of 2004.
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Standard Life unveils manager-of-manager range
UK - Standard Life Investments has launched a range of manager-of-managers pension funds in conjunction with Wilshire Associates.
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Mercer’s strength offsets weak Putnam - MMC
GLOBAL – Marsh & McLennan says strength in its Mercer consulting arm and Marsh insurance unit offset weakness at asset management division Putnam in the second quarter.
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KAS Bank wins E484m Norcros custody brief
UK - Dutch custodian KAS Bank has won another global custody mandate in the UK, taking its institutional clients in the UK to 13.
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New VB code could hit fund performance - Hewitt
NETHERLANDS – The VB’s new pension fund governance code could hit the overall performance of pension funds, Hewitt Associates says.
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Watson Wyatt LLP still looking for acquisitions
EUROPE – Watson Wyatt LLP, the UK-based consulting firm, says it is still looking for acquisitions - in a market where it faces “opportunities and threats”.
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T. Rowe Price hiring staff as earnings surge
GLOBAL – T. Rowe Price Group says its second-quarter net income rose 49% to 80.3 million dollars (66.52 million euros) – with staff numbers rising six percent since the start of the year.
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German funds set to increase equities – survey
GERMANY – German pension funds and insurers are likely to increase their weighting to equities in the medium to long term, according to a survey by Heissmann Consultants.
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NAPF to host conference for pension trustees
UK – The National Association of Pension Funds is to hold a conference for pension scheme trustees amid fears that the traditional trustee system in the UK is facing decline due to regulatory pressure.
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BAT taps SWIP for bonds
UK - The British American Tobacco UK Pension Fund has selected Scottish Widows Investment Partnership to manage a 165 million-pound (248.8 million-euro) mixed bond mandate.
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Mineworkers’ scheme seeks skilled trustee
UK – The 10.4 billion-pound (15.6 billion-euro) Mineworkers’ Pension Scheme is seeking to appoint a skilled trustee who will be able to debate investment strategy and assess consultant advice.
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MEPs say directive could save firms up to E40m
EUROPE – The European Parliament’s economic affairs committee says multinational companies could save up to 40 million euros by pooling pension assets under the European occupational pensions directive.
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DWP: consultants unchallenged post-Myners
UK – Trustees of occupational pension schemes in the UK are finding “barriers” to challenging their relationships with investment consultants, says a new government report on the uptake of the Myners Principles.
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Watson’s Yeo calls for non-political pensions
UK - The time has come to remove politics from pensions in the UK, said Watson Wyatt’s Stephen Yeo, former pensions policy adviser to the opposition Conservative Party.
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CSAM hires Pictet’s Hayes for pooled pensions
UK - Credit Suisse Asset Management has named Jonathan Hayes as director and head of pooled pensions business development.
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Population ageing could hit euro – Commission
EUROPE – The European Commission has warned that population ageing may be one of the “asymmetric shocks” that could hit the euro.
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Watson Wyatt to measure its own advice
UK – Consulting firm Watson Wyatt is working on measuring its own investment strategy advice, according to one of its senior consultants.
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New TIAA-CREF institutional arm to eye Europe
EUROPE – The new institutional asset management arm of US education retirement system TIAA-CREF will have a presence in Europe before too long, says one of its top executives.
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Watson Wyatt to buy KPMG Irish unit
EUROPE- Consulting firm Watson Wyatt is to buy the pension and actuarial group of KPMG in Ireland for an undisclosed sum.
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Hewitt sees take-up of unconstrained benchmarks
UK – Hewitt bacon & Woodrow says six of its pension fund clients have so far adopted the so-called ‘unconstrained benchmark’ approach – with more evaluating such a move.
