Advisers – Page 85
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Towers Perrin in pact with Polish consultant
POLAND - Towers Perrin HR Services has signed an alliance partnership agreement with Warsaw-based employee benefits and actuarial consultancy Trio Management.
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IASB chief rues “daft” discount rate situation
GLOBAL – International Accounting Standard Board chairman Sir David Tweedie has acknowledged the “daft” consequences of the current method of determining corporate pension liabilities.
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UK regulator consults on scheme accounts
UK - The UK’s Pensions Regulator has issued a wide-ranging discussion document reviewing the form and content of pension scheme report and accounts.
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Germany’s Ehrhardt targets UK institutions
GERMANY – Independent German asset manager Dr. Jens Ehrhardt (DJE) is launching its funds in the UK, targeting institutional investors such as pension funds.
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Swiss Life names Dutch asset management CIO
NETHERLANDS - Pension insurer Swiss Life has named Gerard Sirks as chief investment officer of its Dutch arm Zwitserleven, it announced.
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PPM tenders performance evaluation
SWEDEN - Sweden’s Premium Pension Authority, PPM, is seeking a consultant for, among other things, performance evaluation of its external asset managers.
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Novartis pension fund returns 6.2%
SWITZERLAND – Novartis’ pension fund, one of Switzerland’s biggest with CHF14.6bn (€9.3bn) in assets, has reported a return of 6.2% for 2005 - well below the 11% average for other Swiss schemes.
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SSGA names Owen as UK institutional sales head
UK - State Street Global Advisors has named Citigroup Asset Management's Richard Owen as head of institutional sales for the UK and Ireland.
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Germany’s Feri and MLP intensify cooperation
GERMANY – Investment consulting and wealth management firm Feri Finance has agreed to intensify its asset management and investment product tie with independent financial advisor MLP.
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DB buyout firm Paternoster hires from Hewitt
UK – Paternoster, the new UK defined benefit pension buyout firm, has hired Hewitt Associates’ principal consultant Cliff Speed.
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USS mulls €8.7bn switch from equities – FT
UK – The Universities Superannuation Scheme is considering a £6bn (€8.7bn) shift out of equities into alternative assets such as private equity and infrastructure investments, according to a news report.
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Swiss teachers fund BLVK rejects legal action
SWITZERLAND – The CHF4.6bn (€2.95bn) Berne teachers pension fund BLVK says it won’t take legal action against those deemed responsible for its financial woes – despite calls from members.
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FIM Asset Management hires two from Nordea
FINLAND – FIM Asset Management has hired two executives from Nordea, with Petri Aho becoming head of international sales and Jouni Salmenkivi head of fixed income.
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Greater Manchester tenders investment consultancy
UK – The £8.5bn (€12.4bn) Greater Manchester Pension Fund has tendered for a new actuarial and investment consultant.
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Metzler says German pensions business booming
GERMANY – Metzler Asset Management says its German corporate pensions business is booming, with contributions from the business set to more than double to €250m in 2006 from €105m in 2005.
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Reuters injects €336m to cut pension deficit
UK – News and information group Reuters is to inject a total of £230m (€336m) into its pension funds to help eradicate a £265m deficit.
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US proxy firm Glass Lewis expands into Europe
EUROPE – US proxy research and institutional voting services firm Glass, Lewis & Co. has opened a European headquarters in London.
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German corporate pension assets rise 4.1%
GERMANY – Corporate pension assets in Germany totalled €381bn at the end of 2004, up a moderate 4.1% from €366bn a year earlier, according to the statistics from German occupational pensions association Aba.
