Advisers – Page 110
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SSGA names European consultant liaison director
EUROPE - State Street Global Advisors has named F&C's Valerie Nicholson as director of marketing and consultant liaison, with a Europe-wide brief.
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BGI says it has two-thirds of bond ETF market
GLOBAL – Barclays Global Investors says its exchange traded funds, iShares, have around two thirds of the $9bn (€6.9bn) fixed income ETF market.
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Pension reform hit as Czech PM resigns
CZECH REPUBLIC – The resignation today of Czech Prime Minister Stanislav Gross appears to have delivered a deathblow to attempts to accomplish pension reform before next year’s general election.
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Watson-Lyonnais court hearing postponed
UK – A court hearing between consulting firm Watson Wyatt and the UK pension fund of French bank Credit Lyonnais over negligence allegations has been postponed to May 9.
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Germany’s EnBW to cut managers in €3.8bn revamp
GERMANY - Energie Baden-Württemberg (EnBW), Germany’s third largest energy firm, is planning a sweeping revamp to its €3.8bn in corporate pension assets.
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Dutch consultant Strategeon hires ex-ING exec
NETHERLANDS – Strategeon, the consulting firm run by former Watson Wyatt Dutch investment head Paul van Aalst, has hired a former ING Investment Management marketing executive.
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Corporate governance manual launched
EUROPE – The CFA Institute has launched a 55-page manual on corporate governance for investors.
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CalSTRS plans $3bn emerging market move
GLOBAL – The $127bn (€97bn) California teachers fund CalSTRS is to launch a search for up to six active equity managers to invest about $3bn in emerging markets, or 10% of its international equity portfolio.
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Clients put $10bn into currency overlay - Mercer
GLOBAL - Mercer Investment Consulting says its clients put $10bn (€7.7bn) into currency overlay mandates in 2004.
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Watson using psychological tools for managers
GLOBAL – Consulting firm Watson Wyatt has confirmed that it is using “psychological tools” to identify the best investors.
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Nestlé defeats pension funds amid “mistrust”
SWITZERLAND – Food group Nestlé has defeated a corporate governance motion brought against it by a group of pension funds - with outgoing chairman Rainer Gut questioning their motives.
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Hymans Robertson names seven new partners
UK – Consulting actuaries Hymans Robertson has named seven new partners, bring the total number of partners to 27.
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IPE-QUEST: Swiss multi-manager tenders €161m
SWITZERLAND - A Swiss multi-manager has tendered a Swiss large cap-core equity mandate worth up to CHF250m (€161m) via IPE-Quest.
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Swiss consultancy Allea joins Milliman Global
SWITZERLAND – Employee benefits firm Allea has joined Milliman Global, the consulting network that includes firms such as Fixage in France and Hymans Robertson in the UK.
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Greenwich: foreign exchange becoming asset class
GLOBAL – With volumes up almost 25% last year, foreign exchange is evolving into a separate asset class for “real money” investors, says Greenwich Associates.
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OECD sees no evidence of longevity deceleration
GLOBAL – The Organisation for Economic Cooperation and Development says the increase in longevity seems to be a permanent effect.
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UK milk industry scheme retains Aon Consulting
UK - The £275m (€398m) multi-employer Milk Pension Fund has retained Aon Consulting as actuarial and investment adviser.
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Heissmann to acquire Dutch pension firm Montae
NETHERLANDS - Heissmann Consultants is to buy Dutch pension consulting and law firm Montae Advies for an undisclosed sum.
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DeAM names Germany institutional sales head
GERMANY - Deutsche Asset Management has appointed J P Morgan Fleming’s Peter Kerger to head institutional sales in Germany.
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Nestlé resisting pension fund pressure
SWITZERLAND – Food manufacturer Nestlé has dismissed media reports that its board of directors would step down if a group of pension funds succeeded in preventing CEO Peter Brabeck from becoming chairman of the board as well.
