Advisers – Page 165
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News
Powys seeks investment managers for £80m
UK – The £160m (€260.7m) Powys County Council pension fund in Wales is looking for asset managers for a £48m active fixed income mandate and two £16m active equity mandates. John McNeil, head of finance at the fund, says the RFP has come about because the fund grew unhappy with ...
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Gissings loses investment consulting head to SBJ
UK- Steve Barker has left his job as head of investment consulting at Gissings after just a year to take up the same role at SBJ Consultants in London. Barker, who has a background in investment consulting and fixed income management, will report to the chairman Peter Gray.
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Clemeur replaces Brasseur at Belgian association
BELGIUM – The Belgian Association of Pension Funds in Brussels has appointed Hugo Clemeur as general secretary, replacing Leon Brasseur, who decided last week to leave the association to concentrate on developing his career directly within the pensions industry.
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VGZ picks GSAM for e1bn fiduciary role
NETHERLANDS- Zorgverzekeraar VGZ, one of the largest specialised health insurers in the Netherlands, has appointed Goldman Sachs Asset Management as fiduciary manager for its entire investment portfolio worth almost e1bn. VGZ remains responsible for dictating the strategic investment policy but as fiduciary manager, Goldman Sachs will look after asset ...
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Polish pensions and insurance regulators merge
POLAND- Poland has merged its pensions and insurance regulators to create a “one-stop” financial services supervisor.
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Avon drops MLIM and Gartmore for underperformance
UK – The £1.5bn (€2.4bn) Avon Pension Fund has dropped Merrill Lynch Investment Managers (MLIM) and Gartmore from mandates worth almost £1bn (€1.6bn) for failing to achieve performance targets since they were appointed in 1997.
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Mercers makes Couchman new head of administration
UK- Paul Couchman is replacing Bill Rayner as consultant William M Mercer’s head of pensions administration. Couchman, who will be based in London, takes up the post at the beginning on April and consequently becomes a member of the UK board.
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Beaver and Edmans join Opra board
UK – The Occupational Pensions Regulatory Authority (Opra) has appointed Wendy Beaver and Laurie Edmans as members of its board with effect from April for one year, replacing John Bowman and Sue Ward whose one-year term of office has expired.
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IKA considers external managers for e1.8bn
GREECE- Greece’s largest pension fund, the Social Security Foundation (IKA), is considering the use of external investment managers to manage E1.8bn of its assets.
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PMI and NAPF launch basic pensions exam
UK – The London-based Pensions Management Institute (PMI) and National Association of Pension Funds (NAPF) have launched a new foundation level qualification, the Retirement Provision Certificate (RPC), aimed at people whose work brings them into contact with pensions and at those embarking on a career in pensions and benefits.
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Royal London recruits Spiller as head of DC
UK- Royal London Asset Management has appointed Susan Spiller head of defined contribution sales as part of a move by the group to increase the volume of assets under management from defined contribution clients.
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East Riding issues RFP for £200m overseas mandate
UK – The £1.3bn (€2.1bn) East Riding of Yorkshire Pension Fund is looking for asset managers to run a £200m active overseas mandate. The pension fund is looking to appoint up to three managers to take care of the portfolio which contains European, Japanese and North American equities. Its current ...
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Watson Wyatt- UK trustees remain underqualified
UK- The qualifications of UK pension fund trustees remain insufficient and are likely to come under increasing examination, according to research by Watson Wyatt and the Cranfield School of Management.
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Government figure for DB closures 'bogus'
UK - The government was today accused of complacency over its approach to the recent acceleration of defined benefit scheme closures in the UK. Speaking at the NAPF investment conference in Edinburgh, Colin Richardson, a partner with actuaries firm Barnett Waddingham, said that the government's official figure of 41 closures ...
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UK government and ASB heading for FRS17 showdown
UK - The government and accounting standards board (ASB) are heading for conflict over the introduction of the FRS17 accounting standard. The warning came after the chairman of the ASB, Mary Keegan, gave a speech at the NAPF's investment conference in Edinburgh in support of the new accounting principle which ...
