All articles by Robert Melia Watson – Page 27
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Calls for mutual insurance to replace UK's MFR
UK – The UK Industrial Society (IS) has called on the government to replace the minimum funding requirement (MFR) with a government backed mutual insurance scheme....
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DeAM calls pension fund expectations 'unrealistic'
GLOBAL – Financial assets around the world are likely to generate lower returns in the future than investors have come to expect and this could have serious consequences for pension funds, since their valuations are based on unrealistic expectations, claims a new Deutsche Asset Management (DeAM) report on long-term asset ...
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Dutch player KAS wins first UK custody mandate
UK/NETHERLANDS – The London office of Dutch custodian bank, KAS Associatie (KAS), has won its first UK custody mandate with the brief to provide services for a UK equity portfolio of the £145m (€233m) Norwest Holst Group staff pension scheme....
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UK needs to slash pensions regulation, says SPC
UK – Substantial volumes of legislation will need to disappear if the simplification of UK pension schemes, currently under review by Alan Pickering for the UK government Department of Work and Pensions, is to be in any way successful, warns the Society of Pension Consultants (SPC).....
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Parallel in Spanish venture capital tie-up
SPAIN/UK – London based private equity investment managers, Parallel Ventures Managers (Parallel), has moved into the Spanish market with the announcement of a new link-up with Spanish private equity investment and advisory firm, Excel Partners....
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Europe's pension providers need to get aggressive
EUROPE –European pension providers need to be more aggressive if they are to reap the rewards of the growth in the market brought on by the switch from public to private retirement provision, warn Goldman Sachs (GS) and Deloitte Consulting (Deloitte) in a new report....
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AMEX announces new fund of hedge funds
US/SWITZERLAND – American Express Bank (AEB) has launched its third fund of hedge funds, the global market neutral conservative fund of funds portfolio....
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IAPF sets up special Irish pensions tax seminar
IRELAND – The Irish Association of Pension Funds (IAPF) has organised a special seminar of Irish pensions experts to take place this month in order to discuss the problem of taxation and retirement provision....
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UK DB scheme closures double in one year
UK – The number of companies that have closed their defined benefit (DB) schemes to new members has more than doubled over the last year, according to the National Association of Pension Funds’ (NAPF) annual survey of UK pension funds....
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Irish budget heralds pension scheme tax cuts
IRELAND – The Irish government has announced tax cuts on occupational pension schemes and a rise in the state pension in its 2002 budget....
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170,000 textile workers join German pensions giant
GERMANY – The 170,000 strong West German textiles and clothing industry workers have formally joined their metal, electronic and steel industry counterparts in the new industry wide pension scheme company, Metall-Rente, which will start operating next year.....
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Aberdeen wins Windsor Life property mandates
UK – Aberdeen Property Asset Managers (APAM) has won the mandate to run the £180m (€287.5m) property investment portfolios of Windsor Life Assurance Company (WLAC)....
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Hermes poaches F&C's Mustoe for CIO role
UK – Pensions management company, Hermes, has appointed Nick Mustoe as chief investment officer (CIO) with effect from January 1, 2002.....
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Rothschild wins out in £80m CWFS mandate
UK – Rothschild Asset Management (Rothschild) has beaten rival management groups, Hermes, Gerrard and Tilney, to win the mandate to run the £80m (€127.5m) investment portfolio of the Communication Workers Friendly Society (CWFS)....
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Capital wins Russell UK equity brief
UK – Capital International has won a mandate to run a UK equity portfolio for the Frank Russell Company within its manager of managers investment structure.
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Mercer opens second Austrian consulting office
AUSTRIA – Mercer HR Consulting, the Vienna based subsidiary of international consultancy group William M Mercer, has opened an office in Innsbruck in conjunction with its sister company Marsh Austria....
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Permal launches multi-manager hedge fund
NETHERLANDS/UK - London based Permal Investment Management (PIM), part of French group Worms & Cie, has launched the Permal Long Short Global Equity Holdings fund, a Dutch registered multi-manager fund....
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Reports give Allianz German metalworkers contract
GERMANY – Metall-Rente, the new Berlin based pension fund company set up by the metal and electronics employers’ association and its industry’s trade union has selected Allianz to run its new occupational pension system, according to reports in German daily newspaper Handelsblatt....
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CDC venture arm launches large-scale buy-out fund
FRANCE – €600m CDC Equity Capital, the leveraged buy-out arm of CDC Ixis, itself part of the Caisse des Dépôts group, has launched a new fund, CDC-Entreprises II, which is aimed at large-scale buy-outs in France with a target total of €450m....
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Mellon wins Direct Line stakeholder admin brief
UK - Mellon Trust has won a mandate to provide administration services to the stakeholder pension scheme of Direct Line Life, the Glasgow based life insurance company....
