All articles by Daniel Brooksbank – Page 22
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Mercer acquires Pendia in Switzerland
SWITZERLAND - Mercer Human Resource Consulting has acquired Swiss consulting firm Pendia Associates.
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State Street CEO eyes hedge fund acquisitions
GLOBAL – State Street chief executive Ron Logue has indicated that the bank sees opportunities to make acquisitions in the areas of asset management, institutional books of business and - possibly - hedge funds.
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NAPF seeking pensions investment policy adviser
UK – The National Association of Pension Funds has advertised a vacancy for a Pensions Investment Policy Adviser.
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Siemens pension assets return just 3.4%
GERMANY – Siemens says it made a return on its pension assets of an annualised 3.4% in the first nine months – as against an expected annual return of 6.7%.
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London University awards £102m to Newton
UK – The London University pension fund has awarded a £70m (€102.5m) Continental European equities brief to Newton Investment Management.
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Shell indicates $500m settlement with investors
NETHERLANDS – Oil giant Royal Dutch Shell has indicated it would settle the class action suit brought by investors over its misreported reserves for $500m.
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Williams exits Railpen Investments after a year
UK – Griff Williams, senior investment manager at Railpen Investments, has left after just over a year to join Pioneer Investments.
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Expert warns over pensions at German SMEs
GERMANY – Small-to-midsize companies in Germany that finance pension liabilities via book reserves could face insolvency if they do not find an alternative, like creating an external fund, a senior Frankfurt tax official has warned.
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L&G eyes longevity risk products for big schemes
UK – Legal & General says it sees “significant” growth opportunities in new products offering longevity products to larger pension schemes.
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New report calls for European pensions regulator
EUROPE – A new report has called for a European pension regulator among a host of recommendations for the global pensions industry.
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North Yorks tenders TAA (Correct)
UK - The £1.1bn (€1.6bn) North Yorkshire Pension Fund says it has tendered a £44m Global Tactical Asset Allocation mandate following a review of its equity investment strategy (Corrects name of advisor).
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UK regulator fails to collect £50m of levies
UK – The Pensions Regulator says it was only able to collect 71% of the levies due from companies in the most recent financial year – leaving more than £50m (€73.2m) in outstanding payments.
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Law Debenture trustee revenue up 15.4%
UK – Trustee services and investment group Law Debenture has posted a 15.4% increase in trustee services revenue in the first half of 2006.
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ABP in €417m Barcelona hotel deal
REAL ESTATE – Dutch civil service pension fund Stichting Pensioenfonds ABP and partners including an affiliate of the Government of Singapore Investment Corp. have agreed to buy the Hotel Arts Barcelona for €417m.
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SSGA Nordic chief de Greef joins Acadian
EUROPE - Laurent de Greef, head of marketing and business development for Nordic and Southern Europe at State Street Global Advisors, has joined Acadian Asset Management to run its new London office.
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IASB sets up pensions accounting review
GLOBAL - The International Accounting Standards Board has added post-retirement benefits, including pensions, to its latest research agenda.
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FRR shrinks by €500m as returns turn negative
FRANCE – The Fonds de Reserve pour les Retraites, the French Pensions Reserve Fund, has shrunk by €500m amid negative returns in the most recent quarter.
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Thurgau fund returns 11.5% in 2005
SWITZERLAND – Pensionskasse Thurgau (PKTG), a CHF2.2bn (€1.36bn) pension fund for civil servants in the Swiss canton of Thurgau, said it ended 2005 with a performance of 11.5% on its assets – on par with the average for other Swiss Pensionskassen.
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Russell hires Mercer Global Investments chief
GLOBAL - Russell Investment Group has hired Mercer Global Investment’s US president Barry McInerney as director of client service.
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IPE-QUEST: Dutch fund tenders Euro real estate
NETHERLANDS – A Dutch pension fund has tendered €50m-€60m in pan-European publicly traded European real estate via IPE-Quest.
