All articles by Hugh Wheelan – Page 38
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Features
Myners gets UK pensions industry talking
The name of Paul Myners has been on the lips of pensions professionals in the UK for some months now, and all the more so in the last few weeks since his review of institutional investment practice finally saw the light of day. When Chancellor of the Exchequer Gordon Brown ...
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Features
Karas reports directive findings
Othmar Karas, European Parliament rapporteur for the directive on occupational pensions, has a difficult month ahead. On March 21 he presented his report on the IORP (Institution for Occupational Retirement Provision) proposals of the European Commission to the Committee for Economic and Monetary Affairs (EMAC). However, he must now sit ...
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News
Tesco bucks trend to offer DB plan to part-timers
UK – Supermarket chain Tesco is to offer a defined benefit (DB) pension plan to its part-time and temporary staff from April 6...
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News
'Real' danger that funds may not meet guarantees
BELGIUM – The probability of Belgium pension funds not being able to meet the new 3.25% guarantee rate laid down in January’s Vandenbroucke pensions law is slim, but nonetheless represents a real possibility, according to research by the Brussel’s operations of consultant Deloitte & Touche...
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News
BP pension head proposes cross-border tax clawback
EUROPE – Agreement on cross-border tax solutions for mobile workers’ pensions may not be as difficult as expected if the political will is there to look at novel solutions, according to Gary Hibbard, head of international pensions and benefits at petroleum multinational BP....
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News
Kauppi calls for abolition of quantitative rules
EUROPE – Piia-Noora Kauppi, Finnish MEP and member of the European Parliament’s Economic and Monetary Affairs Committee, has called for the complete abolition of any quantitative investment rules for pension funds under the forthcoming European directive, arguing that they could damage the future of a single European pensions market...
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News
Watsons poaches Mercer employee benefits head
SPAIN – Consultant Watson Wyatt has poached Begoña Benito from rival William M. Mercer to head up its Spanish employee benefits practice....
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News
Former Mercury stars to retire from Merrill
UK – Carol Galley and Stephen Zimmerman, the driving forces behind the growth of UK fund manager Mercury Asset Management during the 1980’s and 1990’s, have announced their retirement from Merrill Lynch Investment Managers (MLIM) just a year after both were named as chief operating officers at the company....
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News
Italy gets first private equity fund of funds
ITALY – Mediolanum State Street SGRpA, the Italian institutional investment management joint venture, has launched the first Italian private equity fund of funds...
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News
MBOs show little time for pension arrangements
Two-thirds of management buy-out (MBO) companies, say they consider the pension scheme aspect of the firms they buy-out is unimportant or not even mentioned in the purchase negotiations....
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News
German private equity market's e600bn boost
GERMANY - The German private equity market will receive an injection of some e600bn from next January on the back of tax reforms that will abolish capital gains tax (CGT), according to a new report by Commerzbank Securities...
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News
PGGM places e500m cash brief with Citigroup
NETHERLANDS - PGGM, the NLG110bn (e50bn) Dutch superfund, has selected Citigroup Asset Management to run an e500m cash mandate...
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News
SEI has right chemistry for £18m Meconic scheme
UK – Manager of managers firm SEI Investments has been awarded the mandate to run the £18m (e29m) assets of the pension fund of Meconic – a specialist manufacturer of pharmaceutical ingredients and chemicals...
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News
Karas pledges support for prudential rules
EUROPEAN DIRECTIVE SPECIAL - Othmar Karas presents his findings to the European Monetary Affairs Committee today (March 21) - arguing that the 'prudent person' investment rule should hold sway, with non-compliant member states given ten years to come into line...
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News
Scrap annuity obligation says European rapporteur
EUROPEAN DIRECTIVE SPECIAL - Pension scheme members should not be forced to take an annuity in retirement, but instead be allowed a degree of freedom in how they spend their capital....
