Advisers – Page 118
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Akzo Nobel feels IFRS impact
NETHERLANDS - Pharmaceutical giant Akzo Nobel is to write down almost €500m in the new year in order to comply with the new international accounting standard.
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Lancashire CC Pension Fund allocates mandates
UK – The £2.5bn (€3.56bn) Lancashire County Council Pension Fund has appointed two new asset managers and retained two of his previous managers in a revamping of its portfolio. The changes followed an investment strategy review earlier this year.
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Thomas Murray sets up alternatives services unit
UK -- London-based securities services ratings, research and advisory firm Thomas Murray has established an alternatives investments services division, Thomas Murray Alternative Investment Services (TMAIS).
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Citigroup consultant head Duffain joins Pioneer
EUROPE - Pioneer Investments says it has hired Kerry Duffain from Citigroup Asset Management to be head of investment consultant relations in Europe.
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UK voluntary schemes in 'last chance saloon'
UNITED KINGDOM – The current voluntary approach to pensions in Britain is in the ‘last chance saloon’, a taskforce has warned.
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Pen-Sam completes DKK6bn mandate switch
DENMARK -- Denmark's DKK47.0bn Pen-Sam Pensionfund has completed a restructuring of some DKK4.5bn of its DKK8bn equity portfolio with the awarding of a DKK1.1bn US equities index mandate to Nordea Investment Management ad a DKK1bn US all-cap equity mandate to T. Rowe Price.
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Dutch schemes go into bonds – statistics office
NETHERLANDS - Insurance companies and pension funds in the Netherlands have significantly increased their investments in foreign bonds, Statistics Netherlands has said.
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Pension portability directive seen in Spring
EUROPE – The European Commission is planning a draft directive on occupational pension portability for next Spring, according to a Brussels-based consultant at Hewitt Associates.
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KPMG critical of Dutch firms’ pension closures
NETHERLANDS – Companies in the Netherlands are too quick to push through closures of their pension funds, accountants at KPMG have said.
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Aon sees Dutch FTK leading to “landslide”
NETHERLANDS - The introduction of new regulations to calculate Dutch pension premiums and commitments will lead to “a landslide”, according to consulting firm Aon.
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Towers Perrin hires two consultants from rivals
EUROPE – Towers Perrin says increasing demand from European multinational companies is behind its recruitment of two consultants from rival firms and the transfer of another from its Toronto office.
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BVK using Alpha advisors for hedge mandates
GERMANY - German investment consultant Alpha Portfolio Advisors says it has been retained by Bayerische Versorgungskammer (BVK) for three fund of hedge fund mandates worth 100 million euros recently allocated by the scheme.
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Dutch SBA shifts investment strategy (Update)
(Updates with more details) NETHERLANDS – The 11 billion-euro SBA Artsenpensioenfonds (Pension Fund for General Practitioners and Medical Specialists) says it will overhaul its investment strategy.
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UK debt office consults on long-dated bonds
UK – The UK’s Debt Management Office has launched a consultation on ultra-long dated government bonds following talks with the pension industry this summer.
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IPE-QUEST: UK pension fund tenders overlay
UK – A UK investment consultant has tendered a currency overlay brief worth 100 million pounds (145 million euros) via IPE-Quest.
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Axa hires Nutbrown for new tactical asset allocation division
Axa Investment Managers has hired Kieron Nutbrown to take the new role of head of tactical asset allocation (TAA) under his old boss, Paul Griffiths.
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UK's Pension Protection Fund picks directors
The UK’s safety net for bust pension funds has appointed five non-executive directors, including the chairman of the £17bn Electricity Supply scheme, which has previously been critical of government attempts to help.
