Advisers – Page 151
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News
Io Investors makes hires in UK push
UK – Manager of managers firm Io Investors, part of South African financial services group Sanlam, has hired Old Mutual’s head of research as part of a UK push.
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Ireland to “grasp nettle” on pensions
IRELAND – The Irish government says it will “grasp the nettle” if it finds that it needs to make supplementary pensions mandatory.
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Accountants debate pension liabilities
UK – There’s a lively online debate taking place amongst accountants about the merits - or otherwise - of including actuarial liabilities within the financial reports of pension schemes.
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Watson Wyatt makes Swedish hire
SWEDEN – Pensions consultancy Watson Wyatt has appointed Elisabeth Wass as head of employee benefits consulting services in its Stockholm office.
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UBS wins top European fund award
LUXEMBOURG – Swiss bank UBS has been named the “best overall” European fund promoter in the second annual European Funds Awards.
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Ex-Watson Wyatt consultant joins Paamco
EUROPE – Stephen Oxley, former senior investment consultant at Watson Wyatt is to head up Pacific Alternative Asset Management Company’s (Paamco) new European hedge fund of funds operations in London.
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Allianz corporate pension business up 37%
GERMANY – German life insurer Allianz Leben has seen its new premiums from corporate pension business rise almost 37% to 850.6 million euros.
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Innovest hires ex-Fitch research head
UK – Andy White, the former managing director of research at ratings agency Fitch, has joined Innovest Strategic Value Advisors’ London office.
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Pensions and savings ‘not in crisis’ says UK Govt
UK - The UK government has denied suggestions that Britain is facing a pensions and savings crisis, responding to questions in the House of Lords.
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Sweden's AP1 announces double-digit loss for 2002
SWEDEN – AP-1, the 117.1 billion Swedish krone (12.8 billion euro) first Swedish national pension fund, has posted a loss of 13.8% for 2002, and has announced changes to its asset allocation following an ALM study....
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Bank of NY in Kimberly Clark UK custody win
UK – The 365 million pound (544 million euro) UK pension fund of paper products firm Kimberly Clark has appointed the Bank of New York as its global custodian.
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Finland’s Varma sees higher-than-inflation yield
FINLAND – The largest Finnish pension insurer, Varma-Sampo, sees its average yield rising to 3%-4% higher than inflation – the prediction came as it reported a 1.9% yield on investments in 2002.
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Pension funds rate Pictet top for custody
EUROPE – Pension funds have again rated Pictet as the best global custodian in the latest survey of the custody business by UK firm R&M Consultants.
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Firms petition European Commission on SRI
EUROPE – Fifty European organisations, businesses and professionals have submitted a formal petition to the European Commission to include provisions related to social responsibility in its new directives on prospectus obligations.
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Skandia chief Ramqvist resigns
SWEDEN – Lars Ramqvist has resigned as chairman of troubled Swedish insurer Skandia following a year in which operating profits almost halved.
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Consultant calls for bond product improvement
UK – Asset managers serving the pensions market should align their bond management products more closely with the liability needs of pension funds, urges consultants Hewitt Bacon & Woodrow.
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Dutch fund seeks E35m emerging market debt manager
NETHERLANDS - A Dutch pension fund has put out to tender a 35 million euro global emerging markets debt mandate via IPE-Quest.
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UK research body calls for action on longevity
UK – The head of the Pensions Policy Institute research body has called for more action on "longevity-related issues" in UK pensions policy.
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PwC sees four priorities for UK pension system
UK – PricewaterhouseCoopers has suggested that there are four pension issues that need to be addressed by the government - better financial education, greater simplicity, fewer tax complications and improved age discrimination.
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SEI wins e45.4m global equity mandate from AEP
UK – AEP Energy Services Generation Ltd.’s pension fund has appointed manager of managers SEI Investments to run a 30 million pound (45.4 million euro) global equity mandate.
