Advisers – Page 93
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News
ABN Amro AM names investment strategy head
UK – Former World Bank and IMF consultant Richard Duncan has been promoted to head of investment strategy at ABN Amro Asset Management.
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Commission says Europe needs more ageing reform
EUROPE – The European Commission says European Union governments need to step up reform efforts to deal with their ageing populations.
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News
GSAM sees consultant-manager line blurred
SWITZERLAND - The line between traditional pension fund consultants and investment managers could become increasingly blurred in the future, the Institutional Fund Management conference has been told.
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Swiss fund loses 92% property allocation case
SWITZERLAND – A small pension fund tied to a co-operative bank in the city of Thun has failed in court to get an exemption from government rules requiring schemes to diversify their holdings.
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News
French institutions ‘using more consultants’
FRANCE – French institutional investors are now more likely to select their fund managers using external consultants – slowly mirroring the British institutional market, according to research by bfinance.
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Mercer hires Punter Southall’s Vassiliades
UK – Mercer Investment Consulting has hired Punter Southall’s London office head Danny Vassiliades as a principal.
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News
US steps up probe of pension consultants
US – The US Department of Labor is now investigating pension consultants following an earlier probe by the Securities and Exchange Commission.
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News
Hewitt international chief Morgan retires
UK - Peter Morgan, chief of Hewitt’s international actuarial and benefits team, has retired after more than 30 years.
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News
Shake-up at UK government actuary department
UK – The Government Actuary’s Department’s roughly £1m (€1.5m) national population projections arm has been transferred to the Office for National Statistics (ONS) following recommendations in the Morris Review released in March 2005.
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News
MP says NAPF “scared stiff” of national scheme
UK – A Member of Parliament for the ruling Labour Party has said the National Association of Pension Funds is “scared stiff” of the Pension Commission’s proposed new National Pension Savings Scheme.
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News
SG buys UniCredit securities services arm
ITALY - Société Générale Securities Services has bought UniCrédit’s securities services business 2S Banca for €548m, giving it an extra €455bn in custody assets.
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DB/DC shift may be cyclical, says UK actuary
UK – The shift from defined benefit to defined contribution pension arrangements may simply be a cyclical trend that could be reversed, says the president of the Institute of Actuaries.
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News
Measures to tackle ageing not enough - Barroso
EUROPE – European member states’ measures to tackle population ageing are “not equal to the task,” says European Commission president José Manuel Barroso.
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London pension fund gets new board members
UK – London Mayor Ken Livingstone has appointed former Insight Investment CIO Michael Deakin, and retired Deloitte & Touche director Icky Iqbal to the board of the £3bn (€4.4bn) London Pension Fund Authority (LPFA).
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Features
FoF take-off
Funds of funds had a terrific run in November, confirming market sentiment about the technical correction witnessed in October (and consequently, a dip in returns) – that it is of a short-term nature. The lowered risk appetites seen in October were visibly buoyed by robust economic data, moderate inflation in ...
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News
Record demand for Germany’s Riester pensions
GERMANY- Demand for the ‘Riester-Rente’, a government-subsidised private pension launched in 2002, hit a new record last quarter, pushing the total number of contracts for the pension to more than five million, according to German insurance lobby GDV.
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News
Korea seeks to arrest ex-Hermes fund manager
KOREA – An arrest warrant has been issued by the South Korean prosecuting authorities for former Hermes Investment Management fund manager Robert Clements, who has left the country.
