Advisers – Page 125
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Zurich fund CSIF postpones independence
SWITZERLAND – The continued coverage deficit at the 16.95 billion-franc (11 billion-euro) Canton of Zurich Civil Service Insurance Fund means its planned independence has been postponed, possibly for years.
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IPE-QUEST: Swiss corporate seeks asset manager
SWITZERLAND - Investment consultant Kieger is looking for an asset manager for an actively managed short duration portfolio, on behalf of a corporate client.
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Northern hires SSGA’s de Boer for Europe sales
EUROPE – Northern Trust Global Investments has hired State Street Global Advisors’ Heico de Boer as a sales director for Continental Europe.
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German hedge market could grow to E20bn
GERMANY- The German hedge fund markets, newly open to institutional investors, could grow to 20 billion euros in the next five years, according to consultant Mercer.
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Swiss pension funds boost alternatives - CSAM
SWITZERLAND – Swiss pension funds have raised their allocation to alternative assets to 1.8%, Credit Swiss Asset Management says.
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PGGM discontinues chief economist role
NETHERLANDS – The Dutch health care fund PGGM’s appointment of Peter Kraneveld as special adviser means that the chief economist role no longer exists at the scheme.
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ABN Amro's institutional AUM fall
EUROPE – Institutional assets under management at ABN Amro’s asset management arm have fallen to around 86.3 billion euros at the second quarter from almost 88 billion euros at the first quarter of 2004.
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Standard Life unveils manager-of-manager range
UK - Standard Life Investments has launched a range of manager-of-managers pension funds in conjunction with Wilshire Associates.
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Mercer’s strength offsets weak Putnam - MMC
GLOBAL – Marsh & McLennan says strength in its Mercer consulting arm and Marsh insurance unit offset weakness at asset management division Putnam in the second quarter.
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KAS Bank wins E484m Norcros custody brief
UK - Dutch custodian KAS Bank has won another global custody mandate in the UK, taking its institutional clients in the UK to 13.
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New VB code could hit fund performance - Hewitt
NETHERLANDS – The VB’s new pension fund governance code could hit the overall performance of pension funds, Hewitt Associates says.
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Watson Wyatt LLP still looking for acquisitions
EUROPE – Watson Wyatt LLP, the UK-based consulting firm, says it is still looking for acquisitions - in a market where it faces “opportunities and threats”.
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T. Rowe Price hiring staff as earnings surge
GLOBAL – T. Rowe Price Group says its second-quarter net income rose 49% to 80.3 million dollars (66.52 million euros) – with staff numbers rising six percent since the start of the year.
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German funds set to increase equities – survey
GERMANY – German pension funds and insurers are likely to increase their weighting to equities in the medium to long term, according to a survey by Heissmann Consultants.
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NAPF to host conference for pension trustees
UK – The National Association of Pension Funds is to hold a conference for pension scheme trustees amid fears that the traditional trustee system in the UK is facing decline due to regulatory pressure.
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BAT taps SWIP for bonds
UK - The British American Tobacco UK Pension Fund has selected Scottish Widows Investment Partnership to manage a 165 million-pound (248.8 million-euro) mixed bond mandate.
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Mineworkers’ scheme seeks skilled trustee
UK – The 10.4 billion-pound (15.6 billion-euro) Mineworkers’ Pension Scheme is seeking to appoint a skilled trustee who will be able to debate investment strategy and assess consultant advice.
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MEPs say directive could save firms up to E40m
EUROPE – The European Parliament’s economic affairs committee says multinational companies could save up to 40 million euros by pooling pension assets under the European occupational pensions directive.
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DWP: consultants unchallenged post-Myners
UK – Trustees of occupational pension schemes in the UK are finding “barriers” to challenging their relationships with investment consultants, says a new government report on the uptake of the Myners Principles.
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Watson’s Yeo calls for non-political pensions
UK - The time has come to remove politics from pensions in the UK, said Watson Wyatt’s Stephen Yeo, former pensions policy adviser to the opposition Conservative Party.
