Advisers – Page 149
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Swedish DB premiums “too high” for older workers
SWEDEN – The Organisation for Economic Cooperation and Development says premiums for defined benefit pensions in Sweden are too high for older workers - making companies reluctant to employ them.
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French asset managers increase SRI capability
FRANCE – French investment firms are rapidly expanding their socially responsible investment management capabilities, reveals a study by SRI information provider Novethic and consultant Amadeis
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UK’s Railpen taps Mellon for accounting services
UK – The investment arm of the UK Railways Pension Trustee Company, Railpen Investments, has appointed Mellon European Fund Services to provide investment accounting services.
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Watson Wyatt faces legal challenge over advice
US – Consulting firm Watson Wyatt could be facing a lawsuit over advice it gave to a US pension scheme in the late 1990s – though it says it has fully answered the questions that were raised.
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UK pension tax proposals to cost “e1.44bn”
UK – The government’s proposals on simplifying the taxation of pensions could cost the industry as a whole up to one billion pounds (1.44 billion euros) in the short term, a consultant says.
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CSAM adds to UK institutional market team
UK – Credit Suisse Asset Management has added to its headcount in its UK institutional marketing team, with the appointment of Edward Jones.
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State Street sees “unlimited” growth opportunity
US – State Street Corp.’s chairman and chief executive says he sees almost “unlimited” opportunities for growth – despite posting “disappointing” quarterly earnings and having announced a total of 2,800 job cuts.
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Danish fund tenders debt mandate via IPE-Quest
DENMARK – A Danish pension fund has put out to tender a 50 million euro emerging market debt mandate via IPE-Quest.
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UK’s Hymans on recruitment drive
UK – Actuarial firm Hymans Robertson has recruited three people for its investment practice at its Glasgow office and says further hires are likely in the next few months.
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WTO seeks consultant for DB scheme
SWITZERLAND – The World Trade Organisation is looking for an independent investment analyst/consultant for its defined benefit pension scheme.
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Henderson names Fraser to deal with consultants
UK – Henderson Global Investors is focusing on its relationship with investment consultants, and has appointed Andrew Fraser to head up the new strategy.
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Watson quits UK local authority actuarial market
UK – Consultancy firm Watson Wyatt is withdrawing from a one million pound (1.45 million euro) business providing actuarial consulting to UK local authorities.
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UK pension fund in e36m PE mandate via IPE-Quest
UK – A UK consultant, on behalf of a UK pension fund, has tendered a 25 million pound (36.2 million euro) private equity mandate via IPE-Quest.
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Edinburgh loses British Coal small-cap mandate
UK – Edinburgh Fund Managers and Fidelity Investments have lost their UK small-cap mandates for the 19 billion pound (27.6 billion euro) British Coal Pension Schemes.
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Asset managers concerned over UK proposals
UK – The European Asset Management Association and the UK’s Investment Management Association have expressed concerns about regulations proposed by the UK Financial Services Authority on ‘bundling’ and ‘softing’.
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Consultant tenders mandates via IPE-Quest
SWITZERLAND – A Swiss-based consultant has tendered a global hedge fund of funds and a convertible debt mandate via IPE-Quest.
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Hewitt Bacon & Woodrow cuts seven UK jobs
UK – Pensions consultancy firm Hewitt Bacon & Woodrow has cut seven staff in its investment team in a “rebalancing” of its operations.
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BoNY European vice president Sloan leaves
EUROPE – Securities services provider the Bank of New York’s European vice president of corporate communications has left.
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Dutch PVK set out views on pensions solvency
NETHERLANDS - The Dutch pensions and insurance regulator PVK (Pensioen & Verzekeringskamer) has published in English its White Paper on solvency tests, laying out its approach to the measurement of technical provisions for pension plans as well as the basis for consistent valuation of assets and liabilities.
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Danish consultant uses IPE-Quest for mandate search
DENMARK – Copenhagen-based pensions consultant, Kirstein Finans, is looking for a manager for a six million euro global equity mandate on behalf of a Danish institution.