Advisers – Page 167
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UK’s consulting actuaries elect new leader
UK – The Association of Consulting Actuaries (ACA) has elected Gordon Pollock, a word-wide partner with William M. Mercer, as its new chairman.
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Pictet once again heads custodian rankings
GLOBAL - For the eighth time in 10 years Pictet has been voted as the custodian clients are most satisfied with, according to the annual R&M Global Custody Survey...
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AP7 bars 26 more groups from its portfolio
SWEDEN – The €2.6bn Seventh Swedish National Pension Fund, AP7, has sold its shares in 26 global companies, including CocaCola, General Motors, Unilever and BP Amoco, because it claims they “failed to satisfy the fund’s environmental and ethical requirements”.
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MLIM/Unilever will lead to manager consolidation
UK- Former CIO of Phillips & Drew Tony Dye has told a gathering of 400 asset managers in London that the fund management industry will consolidate into large firms focusing on marketing following the court case between the Unilever pension fund and Merrill Lynch Investment Managers.
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TUC praises proposed EU law for part time workers
UK/EUROPE – A Proposed EU directive giving temporary agency workers across Europe the same rights as full time employees has been welcomed by Britain’s Trades Union Congress (TUC), since more than half the EU’s agency workers are employed in the United Kingdom.
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KPMG predicts DC pensions will be 30% less than DB
UK- Employees in defined contribution schemes are likely to receive pensions 30% smaller than those in final salary or defined benefit schemes according to research by KPMG Pensions.
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Commerzbank and Höfer launch pension fund company
GERMANY – Financial services group Commerzbank and investment consultancy Höfer Vorsorge-Management have set up PENSOR Pensionfonds AG, a joint venture pension fund company established in anticipation of the huge demand for occupational products that the Riester reforms will produce.
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Mercers publishes data on its recommended managers
UK/GLOBAL- The consultant William M Mercers today announced the publication of previously confidential track records of the investment managers it recommends to pension funds and institutional investors.
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AP3 to invest Sek6bn in private equity by 2006
SWEDEN- Sweden’s AP3 fund still has up to Sek6bn (e653m) to commit to private equity investments over the next three to four years. Last Summer it announced it was investing up to 5% of the Sek133bn fund in private equity but so far it has only committed Sek729m and invested ...
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Extel Survey includes consultants for first time
EUROPE – Fund manager and analyst ranking survey, the Thomson Extel survey, is to include the investment consultancy industry for the first time in 2002.
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AP2 to drop external managers after ALM study
SWEDEN – Sweden’s €14.4bn AP2 fund has put out a tender for a consultant actuary to undertake a new ALM study to determine its long-term investment strategy. According to AP2, some of the external managers’ contracts will be terminated as the study will lead to some of the assets being ...
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SwissAir publishes details of e680m mandates
SWITZERLAND/UK- SwissAir Pension Fund Services has published mandates valued at a total of e680m on IPE-QUEST.com.
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Swedish ministry picks Hewitt Wassum for AP study
SWEDEN- Sweden’s ministry of finance has asked the consulting alliance of Hewitt Wassum Investment Partners to evaluate the efficiency of the state run AP funds’ restructuring programme.
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Blue Sky CIO Ratra quits for new ten Cate venture
NETHERLANDS- Arun Ratra, the chief investment officer at the KLM pension fund’s investment arm Blue Sky, has left to join the consultant Lou ten Cate in a new venture called Pension Factory. Ratra joins as a managing director and is a shareholder in the company.
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Managers optimistic but want quality, says survey
GLOBAL – Most fund managers worldwide are optimistic that the global economy will strengthen this year, though corporate earnings in the US and Japan continue to come under fire, according to the latest Merrill Lynch fund manager survey.
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Hymans launches international consulting practice
UK- Actuarial and consulting firm Hymans Robertson has launched its international consulting practice and announced the appointment of Keith Faulkner as its head.
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BGI considers introduction of SRI
GLOBAL/UK- Barclays Global Investor, one of the world’s largest investment managers, is considering introducing an SRI component into its management approach.
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ATL recovers £5.1m from mis-sold pensions
UK- The Association of Teachers and Lecturers has recovered £5.1m for its members who were victims of pensions mis-selling. The ATL says more that 220 teachers have benefited from the money which has been restored to the occupational scheme.
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AIMA says hedge fund transparency lacking
GLOBAL- Research by the Alternative Investment Management Association and Capital Market Risk Advisors into the hedge fund of funds industry suggests that although investors remain wary of investing due to a lack of transparency, hedge fund managers are convinced they are providing enough disclosure.
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JP Morgan acquires majority share in FundsHub
EUROPE – JP Morgan has acquired a majority shareholding in FundsHub, Europe’s first outsourced fund supermarket solutions provider.
