Advisers – Page 177
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News
Dutch to change law on M&A pension rights
NETHERLANDS – The Dutch parliament looks set to ratify European legislation on pension transfer rights in the event of company mergers and acquisitions (M&A) next month, following a favourable decision by the country’s second and most powerful legislative chamber.....
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Japan joins global alternative investment body
UK/GLOBAL – The London based Alternative Investment Management Association (AIMA) has created a new chapter in Japan, bringing the number of chapters worldwide to five....
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New CIO at Phillips & Drew
**New CIO at Phillips & Drew** UK – Matthew Stemp is new chief investment officer at Phillips & Drew (P&D), replacing Robin Apps who has left the company.
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Separate account business to reach $650bn by 2005
US – The separate account consultant programme industry serving affluent investors is showing tremendous growth, with assets under management (AUM) having more than quadrupled from $75bn (€85bn) to $275bn in the last six years...
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Actuaries launch ‘innovative solutions’ firm
UK / EUROPE – Consulting actuaries firm, Punter Southall, have established a new dedicated investment consultancy subsidiary, Psolve, offering “innovative solutions”...
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AUM of European institutional managers rise 38%
FRANCE / GERMANY / ITALY / BENELUX – Assets under management by European institutional managers only rose 38% in 2000, compared to 65% in 1999...
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Membership of Irish pensions funds rises
IRELAND - The total number of pension schemes registered with the Pensions Board, the Irish regulatory body, rose by 19% in 2000 to 86,348, while the numbers covered by all schemes rose by 10% to 629,801...
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Andrew Ross is new chief executive at Cazenove
**New Chief Executive at Cazenove** UK – Andrew Ross has been named as new chief executive of London based Cazenove Fund Management. Ross was previously chief executive at HSBC Asset Management (Europe).
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Aon to launch multi-manager funds for UK
UK – Aon Consulting is to launch a new investment management company later this year, Aon Asset Management, which is expected to have between £500m (€815m) and £1bn (€1.6) in assets under management...
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Cornhill opts for Scottish Life’s DC admin scheme
UK – Scottish Life Administration Services (SLAS) has been appointed to provide third party administration to the new defined contribution (DC) scheme of Cornhill Insurance...
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Mercer wins brief for Boxclever plan
UK – Major employee benefits consultancy firm, William M. Mercer, has been chosen to act as consultant for the pension fund of Boxclever, the newly formed television and video rental joint venture company...
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Smith & Nephew awards £120m multi-manager mandate
UK – Smith & Nephew, the London based international medical device development and marketing firm, has appointed Frank Russell to manage through its multi-manager funds a £120m (€195m) portion of Smith & Nephew’s £220m UK pension fund
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Italian group picks Pimco for E300m bond portfolio
UK / ITALY – Pimco Europe has secured two specialist investment grade US bond mandates from Italian banking group, Fondi Monte dei Paschi di Siena (MPS) worth €300m.
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Punter Southall gives MacGregor stakeholder advice
UK – Aberdeen-based oil and engineering services company, MacGregor Energy Services, has selected Punter Southall Financial Management (PSFM) to advise on the stakeholder pension plan it is setting up...
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CSAM announces fixed income fund for Hungary
UK – Crédit Suisse Asset Management (CSAM) is to launch a fixed income mutual fund in Hungary.
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IBN extends network with new members
UK – The International Benefits Network has announced three new members...
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Future looks bright for Europe's venture market
EUROPE - The medium-term outlook for the private equity industry in Europe has never been brighter, according to a Bank of Scotland sponsored report into the positive impact of legislation and initiatives at both European and government level.....
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Portugal's e3bn reserve fund to start outsourcing
PORTUGAL – The e3bn Lisbon based Portuguese pension reserve fund, created in 1989 to plug the future hole in Portugal’s social security retirement payments, could outsource up to 20% of its assets to external managers by the end of the year....
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General Motors appoints Man as hedge fund advisor
UK – Glenwood, a wholly owned subsidiary of the Man Group, the international hedge fund and futures broker, has been appointed as strategic hedge fund consultant to General Motors Investment Management Company (GMIMCo).....
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Norwegian fund appoints Den Norske and Pareto
NORWAY – The NKr 800m (€101m) Larvik Primary Fund, the fund established to support the city of Larvik’s local economy has awarded two active segregated balanced mandates to Den Norske Bank Asset Management (DNB) and Pareto Asset Management....
