All articles by Daniel Brooksbank – Page 33
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UK consultants see pension directive problem
UK – More than half of UK pension consultants see a problem with the implementation of the European pension fund directive, according to the Society of Pension Consultants.
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ECB says benchmarks may lead to herding
EUROPE – Institutional investors using benchmarks in managing their portfolios may lead to herd behaviour – and problems for monetary policy - says the European Central Bank.
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Luxembourg facing “stiff” pensions competition
LUXEMBOURG – Luxembourg is likely to face “stiff” competition in the race to become the domicile of choice as European pension funds are privatised, according to a new report.
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Hermes ‘proposes changes for BT scheme’
UK – Hermes is proposing a shift in investment strategy at its owner, the £34bn (€49.7bn) BT Pension Scheme, according to the Financial Times.
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Finland’s FIM starts Russian asset manager
RUSSIA – Finnish investment group FIM says it plans to start a Russian asset management and mutual fund group.
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UK management accountants form pension group
UK – The Chartered Institute of Management Accountants has set up a pensions risk advisory group.
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Aon puts €129m into UK pension plans
UK – Consulting and insurance firm Aon Corp. says it put $164m (€129.3m) of financial instruments into its various UK pension schemes in the first quarter of this year.
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IPE-QUEST: Nordic insurer in high-yield RFI
NORDIC – A Nordic insurance company has issued a request for information (RFI) for global high-yield debt via IPE-Quest.
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Watson Wyatt names new Europe investment head
EUROPE - Senior investment consultant Paul Trickett is to take over as European head of investment consulting at Watson Wyatt from Kevin Carter, who will retire.
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Transaction cost analysis product launched
UK - An enhanced transaction cost analysis product aimed at UK pension funds has been launched by TradeShare.
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Royal Mail fund taps Law Debenture
UK – The £17bn (€24.7bn) Royal Mail Pension Fund has appointed Law Debenture Pension Trust Corp. as a trustee, according to a report.
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UK's Berkshire tenders €599m currency overlay
UK - The Royal Borough of Windsor and Maidenhead has tendered a £410m (€599m) currency overlay mandate for the £1.3bn Berkshire Pension Fund.
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Mn Services names equities director
NETHERLANDS - Dutch fiduciary management firm Mn Services has named Patrick Wierckx as director of equities.
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UK regulator’s funding statement welcomed
UK - The Pensions Regulator's statement today on how it will regulate the funding of defined benefit pension schemes has met with a warm response.
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Hewitt’s consulting income falls 12%
GLOBAL – Hewitt Associates’ consulting income slipped by 12% to $49m ((€38.8m) in the second quarter – due to higher staff pay.
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Swiss schemes still cutting domestic securities
SWITZERLAND – Swiss pension funds have continued to cut their allocation to domestic bonds and equities, according to a report from Credit Suisse.
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ATP makes €470m from hedging
DENMARK – ATP, Denmark’s largest pension fund, made a profit of DKK3.5bn (€469.6m), from its hedging activities in the first quarter of 2006.
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French reserve fund grows to €28bn
FRANCE - The FRR, the Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has grown to €28.1bn after making a 4.3% return on assets in the first quarter.
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Standard Life wins €1bn Citigroup DC brief
UK – Standard Life says it has been appointed to provide a £700m (€1.02bn) defined contribution platform on behalf of Citigroup UK.
