Advisers – Page 114
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UK actuaries warn of “huge dangers” of DC
UK – The head of the actuarial profession in the UK has warned that the country faces “huge dangers” with defined contribution pension provision.
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Two regional Icelandic schemes in €312m merger
ICELAND - Two regional Icelandic pensions funds, Sudurnes and Sudurland, plan a merger.
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Denmark: occupational schemes now ‘dominant’
DENMARK – Occupational pension schemes are taking a “clearly dominant” position in the pension savings market, says the Danish Insurance Association.
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Watson Wyatt’s Sweden MD leaves amid revamp
SWEDEN – Erik Linder-Aronson, managing director of Watson Wyatt’s Stockholm office, has left the firm amid a restructuring of the firm’s benefits consulting team in Sweden.
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Capita names life and pensions sales director
UK - Capita Life and Pensions has appointed John Connor as its new sales and marketing director.
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German dentists hire Alpha as consultant
GERMANY - VZB, a Berlin-based pension fund for dentists, says it has hired Alpha Portfolio Advisors as its new investment consultant for its €700m portfolio.
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UK’s PPF could be a “new arena of conflict”
UK – Consulting firm Towers Perrin has warned that the UK’s new Pension Protection Fund could usher in a “new arena of conflict” between employers and scheme members.
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European fund body FEFSI becomes EFAMA
EUROPE – FEFSI, the European investment funds body, has officially changed its name to the European Fund and Asset Management Association.
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Unprecedented demand for London longevity event
UK – This week’s conference on longevity risk and capital market solutions at Cass Business School in London has been so popular that the organisers have had to set up an external video link.
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Dutch doctors implement new accounting system
NETHERLANDS – The €11bn Dutch doctors pension fund SBA has implemented a new portfolio management and accounting system.
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Cominvest sees up to €700m inflows in 2005
GERMANY – The chief executive of Commerzbank’s fund arm Cominvest expects up to €700m in inflows this year – on top of broadly unchanged assets under management in 2004.
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New consolidation moves in Iceland
ICELAND -- Two mergers of Icelandic pension funds have been proposed while the possibility of a third is being discussed.
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New hires at Swiss consultant Ecofin
SWITZERLAND - Ecofin, one of Switzerland’s largest investment consultants, has brought in a pair of new senior advisers and, for the first time, has opened itself up to private banking clients.
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Germany’s BVI sees more institutional outsourcing
GERMANY - Providers of German institutional funds, or Spezialfonds, are increasingly outsourcing the management of their assets, according to new statistics from the BVI, Germany’s fund industry association.
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Barclays Global Investors’ AUM up €161.5bn
UK – Barclays Global Investors’ assets under management at the end of last year rose 19% - or £111bn (€161.5bn) – to £709bn, from £598bn at the end of 2003.
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Rabobank says swaps may ease Dutch FTK impact
NETHERLANDS – Rabobank says the new Dutch FTK, or financial assessment framework, will have a “marked impact” on Dutch pension schemes’ investment policy – and that a swap overlay strategy could be a solution.
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UBS says institutional business almost doubles
SWITZERLAND –UBS said its Global Asset Management arm reported a pre-tax profit increase of 64% in 2004 and that institutional business almost doubled.
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UK occupational contributions 'rise 50%'
UK - Employer contributions to occupational schemes have risen almost 50% to £8.3bn (€12bn), according to a survey by Incomes Data Services.
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Deutsche denies it plans to sell DeAM in UK
GERMANY - Deutsche Bank has poured cold water on speculation in London that it is on the verge of selling all or part of Deutsche Asset Management in the UK, stressing that its first priority is “to fix the business”.
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ABN Amro AM lost almost 10% of staff in 2004
NETHERLANDS – ABN Amro Asset Management’s staff numbers fell almost 10% in 2004 amid a levelling off of assets under management.
