Advisers – Page 145
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IPE sets up outstanding industry contribution award
EUROPE – IPE has opened nominations for the “Outstanding Industry Contribution”, to be declared at the annual IPE Awards on November 20 2003 in Amsterdam.
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EU capital directive could prompt industry shakeout, says consultant
The European Union’s third Capital Adequacy Directive (CAD 3) will distort profitability among European asset managers and force them to improve their risk management processes, a UK consultant predicts.
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Towers Perrin’s new appointment to global consulting team
UK – Towers Perrin has added to its global consulting group with the appointment of Gavin Watkins.
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Gartmore offers cautious option to institutions
UK – Gartmore will be offering a cautious managed fund to institutional investors as they seek to reduce volatility.
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Asset managers quit and turn backs on industry – survey finds
UK – More fund managers are leaving the industry than at any point in the past seven years, reveals a survey by consultants Watson Wyatt.
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Towers advises against rash pension decisions
UK – Consulting firm Towers Perrin has warned companies not to make rash decisions when dealing with pensions issues – saying there is a danger of being “too decisive”.
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BAE names Northern Trust as pension custodian
UK – Defence group BAE Systems has appointed Northern Trust as global custodian for its pension funds...
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Shropshire moves into hedge funds
UK – Shropshire County Council has announced a change in its pension fund benchmark with greater allocation to bonds and the introduction of a hedge fund portfolio.
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Pensions should be compulsory, says UK report
UK - Employer and employee pensions should be made compulsory if the UK’s 27 billion-pound (38.7 billion-euro) pension gap is to be filled, says market analysis firm Datamonitor.
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Hymans sets up London investment practice
UK – Pensions actuaries Hymans Robertson has set up a London-based investment practice – and hired a consultant from rival firm Hewitt Bacon & Woodrow.
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Ignore consultants’ advice, says Somerset
UK – The head of the 600 million-pound (867 million euro) local authority pension fund of Somerset County Council says only a bad pension fund follows the advice of investment consultants to the letter.
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UK's South Tyneside to name new actuary
UK – The two billion-pound (2.9 billion euro) South Tyneside Metropolitan District Council pension fund is to announce the replacement of Watson Wyatt as scheme actuary over the coming week.
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Baring AM’s Mantel leaves to start hedge fund
UK - European pensions expert Jan Mantel has left Baring Asset Management, where he was head of the UK and European equity team, to start his own hedge fund.
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European institutions shun consultants - poll
EUROPE – A new poll has found that 67% of European institutional investors do not employ the services of an external investment consultant.
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AP1 tenders $200-300m US small-cap mandate
SWEDEN - The 12.8 billion-euro Swedish national pension scheme AP1 has put out to tender a 200-300 million dollar US small-cap mandate.
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Chynoweth retires as chief executive of university scheme
UK – David Chynoweth, chief executive of the 31.2 billion euro Universities Superannuation Scheme education pension fund, has retired after almost 10 years with the scheme.
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International Benefits Network expands membership
UK – Finland is one of the three new countries included in the consultancy network operated by International Benefits Network (IBN), a worldwide grouping for employee benefits services. Three new member firms have been added to give greater international presence.
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UK makes proposal to raise retirement age to 70
UK – The UK government has outlined proposals to raise the retirement age to 70 – though the plans are only seen as tackling part of the problem.
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Aon in talks to buy ABN Amro’s Consultas actuarial unit
NETHERLANDS – Aon Consulting’s Dutch arm is in talks to buy actuarial consultant Consultas from ABN Amro.
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Five new mandates tendered via IPE-Quest
EUROPE – There have been five new mandates tendered via IPE-Quest, one from a Scandinavian industry-wide pension fund and four from a Swiss corporate pension fund.
