Advisers – Page 74
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Paternoster CEO outlines “keys to success”
UK – Mark Wood, chief executive of Paternoster, has outlined what he terms the keys to the success of the new breed of pension buyout firms.
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Smaller schemes chase ‘more liquid’ property
REAL ESTATE - Robin Goodchild, head of European investment at property firm LaSalle, this week urged large pension funds to invest directly in real estate and claimed smaller ones were re-thinking their lack of exposure.
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Aviva’s annuity sales fall 6%
UK – Insurance group Aviva has become the latest to warn about pricing pressure in the UK’s bulk annuities market after reporting a 6% decline in total annuity sales.
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Irish fund servicing industry reaches $1.2trn
IRELAND – Over $1.2trn (€955bn) in funds were serviced in Ireland as at 30 June 2006. The industry grew 28% over the last year, according to Lipper Fitzrovia’s 12th annual Dublin Fund Encyclopedia.
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EU Commission report to analyse UCITS
BELGIUM – The European Commission’s Directorate-General for Internal Market and Services is looking to commission a €600k comparative analysis of investment funds in the European Union.
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Royal Mail scheme chairman joins Synesis
UK – Jane Newell, chairman of the £21bn (€31.3bn) Royal Mail Pension Plan, is to join the board of new pensions annuity firm Synesis Life as a non-executive director.
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Towers Perrin opens office in Apeldoorn
NETHERLANDS – Consultancy firm Towers Perrin says it has opened an office in the Dutch town of Apeldoorn.
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Germany’s FERI hails new shareholder MLP
GERMANY – Top executives at investment consultant Feri Institutional Advisors (FIA) have hailed the involvement of new majority shareholder MLP.
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EDS names new treasurer to oversee pensions
GLOBAL – Computer firm Electronic Data Systems has named Anthony Glasby as its new corporate treasurer, a role which is responsible for pensions management worldwide.
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Pension funds in bid for Lane Clark parent
GLOBAL – An investor group including pension funds has made a ZAR8.3bn (€875m) bid for Alexander Forbes, the parent company of pensions consulting firm Lane Clark & Peacock.
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SPF offers assistance to small schemes
THE NETHERLANDS - SPF Beheer has offered ‘collegial’ assistance to small pension funds, which want to remain independent, it announced.
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Dutch painters award €450m to Theodoor Glissen
NETHERLANDS – A&O Services, which runs the €3.2bn Dutch painters pension fund BPF Schilders, has awarded a €450m pan-European equity index mandate to private bank Theodoor Glissen.
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New Danish construction pension set up
DENMARK – PensionDanmark and the Danish construction industry association Dansk Byggeri have teamed up to offer a new pension product.
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Wiltshire fund tenders following review
UK – The £1bn (€1.48bn) Wiltshire County Council Pension Fund is tendering for pension investment services representing a total of up to £525m in active currency, unconstrained global equity and long-short equity.
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RREEF nabs Coca-Cola UK real estate brief
REAL ESTATE - RREEF will run the real estate element of the Coca-Cola Enterprises Pension Scheme.
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Warwick-Thompson rejoins Hewitt Associates
UK - Andrew Warwick-Thompson has rejoined Hewitt Associates as a principal consultant with responsibility for the business development of the firm's retirement consulting activities.
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Newham Pension Fund ventures into active currency
UK – The £540m (€747m) London Borough of Newham Pension Fund is looking to appoint one or more managers for a new active currency portfolio.
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Academic urges Chilean-style reform for Germany
GERMANY – A leading economist has called for Germany’s pay-as-you-go state pension system to be replaced by a Chilean-style capital-backed arrangement.
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DB buyout firm Synesis hires from Watson, L&G
UK - New pension buyout firm Synesis Life has boosted its staff with hires from Watson Wyatt and Legal & General.
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Mercer launches multi-manager business in Europe
EUROPE – Mercer Global Investments (MGI) has formally launched its European multi-manager business from its Dublin office. At first it will target the UK and Ireland but it will seek to expand to continental Europe.
