Advisers – Page 84
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CalPERS names asset allocation consultants
GLOBAL – The California Public Employees’ Retirement System (CalPERS), the $210bn (€163.8bn) public pensions giant, has “tentatively” selected contractors for asset allocation consulting, securities lending services and administration of supplemental savings programmes.
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EFRP celebrates 25th anniversary
EUROPE – The European Federation for Retirement Provision (EFRP), which represents occupational pension plans in the EU and candidate states, is today celebrating its 25th anniversary in Brussels.
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Unilever UK scheme taps Mercer for advice
UK – Unilever’s roughly £4.3bn (€6.3bn) UK pension scheme has axed Russell Investment Group as investment consultant in favour of Mercer, scheme chief investment officer Wendy Mayall confirmed today.
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North Yorkshire axes JP Morgan from €1.7bn
UK – The roughly £1.15bn (€1.7bn) North Yorkshire Pension Fund has axed JP Morgan as global custodian, a scheme official confirmed today.
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Former FIM Group chief executive faces jail
FINLAND – The former chief executive of Finnish broking and asset management group FIM, Seppo Sairanen, has been sentenced to jail by the District Court of Helsinki for alleged fraud.
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UBS doubles German institutional assets
GERMANY – Due partly to proliferation of big corporate pension funds, Swiss bank UBS has raised its institutional assets under management in Germany to €8bn – more than double the figure for December 2004.
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Hewitt Associates chief executive Gifford exits
GLOBAL – Dale Gifford, chairman and chief executive of pension consulting and human resources firm Hewitt Associates, is to retire at the end of the year.
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Mcube, Avida in portfolio software partnership
GLOBAL – Dutch-based consulting firm Avida International has entered into a partnership with Texas-based Mcube Investment Technologies with regards to Mcube’s web-based software product AlphaEngine.
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Man Group limits hedge funds in own scheme
UK – Man Group, the world’s largest listed hedge fund group, is limiting the hedge fund allocation in its own pension fund on the advice of Watson Wyatt, says chief executive Stanley Fink.
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Vodafone switches from DB to DC in Germany
GERMANY – The German arm of mobile phone operator Vodafone has replaced its defined benefits plan with a defined contribution plan for 9,300 employees in Germany.
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Bank of New York drawn into US probe
US – A mutually beneficial arrangement between the Bank of New York and consulting firm Wilshire Associates has emerged following questions from two US congressmen.
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New editor named at IPE Real Estate
GLOBAL – Martin Hurst, features writer at IPE Magazine, is to take over as editor at sister publication IPE Real Estate.
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Mercer in risk software link with Dutch consultant
NETHERLANDS – Dutch consulting outfit van Stuijvenberg Financial Services says it has signed a long-term cooperation contract with Mercer Investment Consulting.
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Hewitt considers raising stake in German venture
GERMANY – Hewitt Associates is considering raising its minority stake in the BodeHewitt joint venture it launched almost a year ago with Bode Grabner Beye.
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ABP eyes non-listed sector amid short-termism
NETHERLANDS - Europe’s largest pension fund, the Dutch civil service giant ABP, is planning to shift the accent of its investments to non-listed companies and real estate, says chief investment officer Roderick Munsters.
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City of Westminster axes Henderson, Aberdeen
UK – The roughly £600m (€871m) City of Westminster pension fund has axed Henderson Global Investors and Aberdeen Asset Management following a scheme restructure.
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CSAM Germany gets new chief investment officer
GERMANY - The German arm of Credit Suisse Asset Management has promoted Stefan Keitel as its new chief investment officer.
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Amonis cuts equities, real estate for hedge funds
BELGIUM – The €1bn Amonis pension scheme for dentists, doctors and pharmacists has reduced its exposure to equities and real estate, and ploughed roughly €34.2m into a fund of hedge funds portfolio managed by Key Asset Management.
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Watson Wyatt hires Aon’s Yakoubov
UK – Watson Wyatt Worldwide says it has hired Yakoub Yakoubov from rival Aon Consulting.
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Debate over UK university fund rages in press
UK – Debate over the coverage of the Universities Superannuation Scheme’s asset allocation continues to rage in the letters pages of the financial press.
