Advisers – Page 168
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News
Aon appoints senior executive benefits consultant
UK – Benefits and pensions consultancy, Aon Consulting, has appointed Eileen Imrie as senior consultant to its executive benefits practice.
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UK workers 'blissfully ignorant' about pensions
UK- Most of the UK workforce are blissfully ignorant about their pensions and are deluded about the amount they will receive in retirement according to research by MORI.
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SwissAir fund announces complete restructure
SWITZERLAND- SwissAir pension scheme is undergoing a wholesale reorganisation of its four individual funds which has already included the launch of two institutional umbrella funds. Over the next two months it is searching via www.ipe-quest.com for managers to oversee five further sub funds with assets totalling Chf1bn (e680m).
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DC contributions 50% lower than under DB
UK- Average company contribution rates under the increasingly popular defined contribution plans are about half the rate of those for typical defined benefit schemes according to research by the consultant Towers Perrin.
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New portal offers access to Dutch pensions market
NETHERLANDS – Dutch consultancy firm, Bureau Bosch, has launched DutchInvestor.com, an internet-based portal allowing institutional investors to remain abreast of developments in the Dutch asset management industry.
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Hampshire fires Morley and appoints SG
UK- Hampshire county council’s £2.1bn (e3.4bn) pension fund has fired Morley fund management from a £360m (e585m) balanced mandate and replaced it with SG Asset Management.
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Switzerland's AHV postpones hedge fund investment
SWITZERLAND- Switzerland’s ChF19.7bn (e13.4bn) social security fund AHV has delayed investing 5% of the portfolio in hedge funds in order to focus on developing its global equity portfolio.
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IASB to amend pension standard IAS 19
GLOBAL - The International Accounting Standards Board (IASB) is planning to amend the pensions standard, IAS 19.
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DWP- trustees needn't be investment specialists
UK – The government’s recommendation that pension fund trustees needn’t become investment specialists is the most important aspect of the latest consultation papers to be published by the Department of Work and Pensions (DWP), according to the consultants Watson Wyatt.
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Nussbaum says Swiss funds need performance ratings
SWITZERLAND- Switzerland’s multi-employer pension companies, which manage the bulk the country’s mandatory occupational schemes, should be rated by their performance, say pensions experts.
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UK government under pressure to simplify pensions
UK- Actuaries in the UK have urged the government to simplify private pensions in order to encourage more individuals to save for their retirement. In its submission to the department for Work and Pensions’ review on simplifying private pensions, the actuarial profession says excessively complicated legislation is proving a disincentive ...
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European CMBS market to grow 50% in 2002
EUROPE- Low interest rates in the Eurozone, increasing investor appetite and a broadening origination base have led rating agency Standard & Poor’s to predict a 50% growth in Europe’s commercial mortgage-backed securities (CMBS) market in 2002.
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Alexander Forbes to buy 60% of Lane Clark
UK- Financial and risk services provider Alexander Forbes is taking a 60% stake in the UK consulting actuaries Lane Clark & Peacock in a deal valuing the latter at around £46 million.
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iShares launches Eurotop 100 ETF
UK- iShares, the exchange traded fund provider, today launched the FTSE Eurotop 100 ETF which enables investors to invest in Europe’s 100 largest companies while avoiding currency transaction costs. The LSE-listed fund adds to the eleven other iShares funds available in the UK and managed by Barclays Global Investors.
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Moves to curb police ‘medical retirements’
UK-The government has moved to reduce the incidence of early retirement though ill-health in UK police forces as part of its programme of police reform.
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EU credit deteriorated in 2001 according to S&P
EUROPE – Last year saw a further deterioration in the credit quality of European Union investment grade company bonds, as 122 downgrades against 28 upgrades were recorded, representing some €458bn worth of outstanding debt, against €265bn in 2000, says Standard& Poor’s (S&P).
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Punter Southall launches executive pensions unit
UK- Linda Clark is to head a new specialist unit launched by the consulting actuaries Punter Southall and dedicated to retirement planning for senior executives. Clark joins Punter Southall after eighteen years as a consultant with Hymans Robertson.
