Investor Strategy – Page 195
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News
Netherlands’ Bouwend awards admin to NN
NETHERLANDS - Construction sector organisation Bouwend Nederland has awarded a pension administration contract to ING Group’s Nationale Nederlanden.
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Achmea looking to boost profits ahead of merger
NETHERLANDS – Pension common management firm Achmea is undergoing a “commercial vitality project” ahead of its merger with Interpolis.
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GSAM says it wins €785m from local authorities
UK - Goldman Sachs Asset Management says it has won a total of £533m (€785m) from three UK local authorities.
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Greek pension strikers clash with police
GREECE – Greek bank workers have clashed with police during a strike about pensions, according to a union official.
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News
Reuters awards custody to Bank of NY in revamp
UK - The £650m (€953m) Reuters Pension Fund, the main UK scheme of the news and data group, has awarded a custody mandate to the Bank of New York after a revamp.
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Dutch experts at odds over average premiums
NETHERLANDS - Abandoning the average pension premiums will threaten rather than improve the Dutch pensions system, says the director of the Association of Industry-wide Pension Funds, or VB.
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News
Florida awards $113bn master custody to Mellon
US – Florida’s State Board of Administration has awarded a $113bn (€91.7bn) master custody mandate to Mellon Global Securities Services.
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UK coal scheme gets new secretary
UK – The £9.6bn (€13.8bn) British Coal Staff Superannuation Scheme has named Dawn Shirley as its new scheme secretary, replacing John Haigh.
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Low rates hit German industry schemes
GERMANY - German industry schemes known as Versorgungswerke have reported a slight decline in the annual return on their investments owing to low interest-rates.
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ING IM plans European multi-manager launch
EUROPE - ING Investment Management is pushing forward with the launch of its multi-manager programme in Europe, scheduled for later this year.
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UPM-Kymmene UK taps Hymans for consultancy
UK – The £84m (€122m) pension scheme of UPM-Kymmene UK has appointed Hymans Robertson as investment consultant.
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Mercer facing SEC investigation over Putnam links
GLOBAL – Marsh & McLennan is being probed by the Securities and Exchange Commission about business referrals between its Mercer consulting arm and Putnam Investments asset management unit.
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Bayer gains €200m from shift to DC in the US
GERMANY – Industrial giant Bayer expects to gain a one-time bonus of €200m in the third quarter, mostly as a result of changes to its US pension plan.
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Row looms between German consultants, managers
GERMANY – A row is looming in Germany as investment consultants complain that asset managers are trying to break into their market – a charge that managers deny.
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COMMENT: Interesting times for multi-managers
COMMENTARY - The news that Mercer is getting an excellent response for its new multi-management offering is interesting.
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Coats Pensions chairman Dow steps down
UK – Sam Dow, chairman of board of Coats Pensions Trustee Ltd., has stepped down to be replaced by Laurie Todd of Guinness Peat Group, according to the scheme’s web site.
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Hewitt boosted by international revenues
GLOBAL – Hewitt Associates has reported stronger profit and revenue at its consulting division in the third quarter, driven by growth outside its North American base.
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News
Essex scheme set to change asset allocation
UK – The more than £2bn (€2.9bn) Essex County Council Pension Fund says it is poised to change its asset allocation as soon as possible.
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News
Barclays Global Investors gains €47bn of assets
GLOBAL – Barclays Global Investors gained £33bn (€47bn) of net new assets in the first half of 2005, parent Barclays Plc said in its earnings statement.
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News
Schroders’ Zerner joins Lazard AM as marketer
UK - Lazard Asset Management has appointed Schroder Investment Management’s Mary Zerner as head of central marketing services.
