All articles by Dickon Reid – Page 10
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Gartmore launches new fixed income funds
LUXEMBOURG- Gartmore Investment Management has launched two fixed income sub funds for its Luxembourg-based SICAV range.
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New laws reform Luxembourg's state pension
LUXEMBOURG- Luxembourg’s government has introduced radical and generous reforms to the country’s first pillar state pension that will produce higher basic pensions and provide incentives to retire later.
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Local authority returns negative for second year
UK- Local Authority pension funds have registered a second consecutive year of negative returns according to the performance measurement consultants WM Company.
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Mercers makes senior changes to retirement unit
UK- Mercer Human Resource Consulting has announced a number of senior management changes to its retirement practice.
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EU launches financial regulatory panel
EUROPE- Europe’s Committee of European Securities Regulators (CESR) has established a panel of consultants to help it work towards harmonising the EU’s financial regulatory system.
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Icelandic fund picks MFS for $100m equity mandate
ICELAND- Iceland’s largest pension fund, LSR, has appointed MFS Investment Management to run a segregated global equity mandate that will eventually be worth $100m.
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UK funds fail to embrace ethical investing
UK- A new report suggests UK pension funds continue to shun ethical investing despite an amendment to the 1995 Pensions Act two years ago designed to make them take social and environmental issues more seriously.
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Government wary over Pickering recommendations
UK- The government has reacted cautiously to recommendations in yesterday’s pensions simplification report that it legislate to end a compulsory inflation link for pensions and to scrap benefits for spouses.
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Review proposes beefed up UK pensions regulator
UK- Alan Pickering’s report into simplification of the pensions industry has proposed a new beefed up pensions regulator to work alongside the Financial Services Authority.
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Pickering's 2004 target 'very ambitious'
UK- The logistics and complexity of introducing the recommendations in Alan Pickering’s report on simplifying the pensions industry have come under fire from some sectors of the industry.
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F&C investment head quits for public sector career
UK- Arnab Banjeri, head of investments as F&C Management is leaving to pursue a career in public services following his appointment last year as a member of the advisory panel of a government think tank.
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New Dutch government to cut tax exemption levels
NETHERLANDS- The Netherlands’ incoming government is to cut tax exemption levels for contributions to occupational schemes from 2% to 1.75% in a move that will force workers either to retire later or to pay more for an equivalent final salary pension.
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Sandler review outlines need to slash red tape
UK- A long-awaited report into the UK’s savings market has delivered a harsh verdict on an industry it says is expensive, overly-complicated and inefficient.
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State Street names UK relationship management head
UK- State Street Corporation has appointed Paul Chapman to serve as head of relationship management and strategic marketing for its UK operation.
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Legal changes give new German pension funds parity
GERMANY- Germany's new pensionfonds will finally receive parity with other occupational savings vehicles at the beginning of next month when members are allowed to opt for the first to take some of their pension in a lump sum at retirement. Pensionfonds will in addition enjoy greater freedom to invest following ...
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Mercers attacks UK government's pensions policy
UK- Mercer Human Resource Consulting has attacked the government’s pensions policy on the eve of publication of reports on pensions simplification and the medium and long-term savings markets.
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Inco picks Rothschild for £20m specialist mandate
UK- The £60m European pension plan of Inco, the Canadian mining company, has appointed Rothschild Asset Management to manage its £20m specialist UK equity investment portfolio.
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Parliament to hold hearing on financial regulation
EU- The European Parliament’s economic and monetary affairs committee is holding a public hearing on the supervision of financial services next Tuesday in the wake of the Enron and WorldCom collapses.
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Gartmore appoints director for UK clients
UK- Geraldine Wright is joining Gartmore as an account director for UK institutional clients, a role that sees her responsible for a number of pension fund clients. Wright will report to head of client services Elaine Gordon and will work closely with both the client service and investment management teams.
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Euroclear and CRESTCo announce merger
UK/EUROPE- The merger of Brussels-based settlement house Euroclear and its UK counterpart CRESTCo announced today will create Europe’s largest settlement operation, one that will handle over 60% of European equity trades.
