All articles by Dickon Reid – Page 27
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Alexander Forbes to buy 60% of Lane Clark
UK- Financial and risk services provider Alexander Forbes is taking a 60% stake in the UK consulting actuaries Lane Clark & Peacock in a deal valuing the latter at around £46 million.
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BoA appoints European head of global markets
UK- Bank of America has appointed Arrington Mixon as European head of its global markets group.
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UK rebates for contracting out are insufficient
UK- New rebates for ‘contracting out’ of the UK state second pension to be introduced in April are inadequate to cover the cost of replacing the forgone state pension according to the consultant William M. Mercer.
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Belgian ministers to agree occupational law
BELGIUM- Belgium’s Council of Ministers is meeting tomorrow to pass the final three fiscal amendments to the country’s new occupational pensions legislation.
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Swedish regional fund reappoints Carlson IM
SWEDEN- Swedish regional authority pension fund Landstinget Västernorrland has reappointed Carlson Investment Management to run its Sek270m (e29m) domestic equity and bond portfolio. As a public body, the fund is obliged to re-tender its mandates every three years under EU legislation.
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Ireland's NTMA announces first mandate winners
IRELAND- Ireland’s National Treasury Management Agency (NTMA) has announced the appointment of its first three investment managers to run part of the e6.5bn National Pensions Reserve Fund. Barclays Global Investors has been selected to manage a total of e1.8bn in Eurozone and North American passive equities while Bank of Ireland ...
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T Rowe Price enters German market
GERMANY- US investment manager T. Rowe Price has launched a new Luxembourg SICAV with eight sub-funds aimed at German investors. The launch represents the latest in T. Rowe Price’s European expansion following its move into the Nordic region.
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Bolkestein urges greater internal market reform
BRUSSELS- EC internal market commissioner Frits Bolkestein has aired his frustrations at the pace of structural reform to the internal market and suggested that the Barcelona European Council is an opportunity for Europe’s political leaders to inject a renewed sense of urgency.
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iShares launches Eurotop 100 ETF
UK- iShares, the exchange traded fund provider, today launched the FTSE Eurotop 100 ETF which enables investors to invest in Europe’s 100 largest companies while avoiding currency transaction costs. The LSE-listed fund adds to the eleven other iShares funds available in the UK and managed by Barclays Global Investors.
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PGGM and Delta Lloyd plan insurance venture
THE NETHERLANDS- The €50bn pension fund for healthcare and social workers PGGM has announced it is launching a joint venture with Delta Lloyd offering financial services and products to employers and employees in the healthcare and social work sectors.
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Mellon launches ethical index tracking fund
UK- Mellon Global Investments (MGI) is launching an ethical index fund, Mellon European Ethical Index Tracker, that will mimic Europe’s first ethical index created in 2000 by the independent financial advisors E.Capital Partners.
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SEI picks up £40m global mandate from Millennium
UK- The UK arm of Millennium Chemicals has appointed multi manager SEI Investments to run a £40m global equities portfolio. The mandate represents 70% of the total pension fund and is the sixth appointment for SEI’s UK outlet since it opened in May 2000.
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Radical overhaul at AHV means March and June RFPs
SWITZERLAND- Switzerland’s first pillar federal pension scheme Ausgleichsfonds der AHV has started a radical overhaul to its asset allocation following new legislation allowing it to invest in global equities for the first time.
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CAPS show GAM-run J Rothschild fund top in 2001
UK- The GAM-managed J Rothschild stable of funds was the only UK balanced fund to produce positive returns in 2001 according to the CAPS report on the performance of UK pension schemes’ pooled funds.
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EP backs single market for securities
The European Parliament’s Constitutional Affairs Committee has voted in favour of a draft resolution tabled by the German MEP Karl von Wogau and aimed at creating a single market for financial securities as soon as possible.
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SkandiaLink announces new CEO
SkandiaLink, the unit link arm of Skandia Group, has announced the appointment of Cecilia Daun-Wennborg as its new chief executive officer. Daun-Wennborg was formerly the company’s administrative director.
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Folksam to screen its entire assets in SRI drive
SWEDEN- Swedish investment manager Folksam has announced a screening of its entire Sek105bn (e11.3bn) portfolio for environmentally unfriendly companies and for those that violate human rights. The strategy, launched at the beginning of the year, is underway and expected to take around six months to complete.
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CAPS data show 2001 dire for pooled pension assets
UK- For the first time since 1973/74 pooled pension funds have suffered their second consecutive year of negative returns according to the latest CAPS pooled pension fund update.
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WestAM adds to its fixed income and currency team
UK- Investment manager WestAM has appointed Moe Daniel as technical analyst at its global fixed income and currencies team in London. Daniel joins from Arbor Research and Training where he was responsible for time period analysis for the main bond and FX markets and their derivatives.
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PGGM launches Careon to run its insurance products
THE NETHERLANDS- PGGM Life Insurance and PGGM Non-Life Insurance products have been made available to the general public following the launch of Careon, its new insurance company created after the introduction of legislative changes at the beginning of the year prohibiting pension funds from operating in the insurance market under ...
