Advisers – Page 146
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News
Towers advises against rash pension decisions
UK – Consulting firm Towers Perrin has warned companies not to make rash decisions when dealing with pensions issues – saying there is a danger of being “too decisive”.
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BAE names Northern Trust as pension custodian
UK – Defence group BAE Systems has appointed Northern Trust as global custodian for its pension funds...
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Shropshire moves into hedge funds
UK – Shropshire County Council has announced a change in its pension fund benchmark with greater allocation to bonds and the introduction of a hedge fund portfolio.
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Pensions should be compulsory, says UK report
UK - Employer and employee pensions should be made compulsory if the UK’s 27 billion-pound (38.7 billion-euro) pension gap is to be filled, says market analysis firm Datamonitor.
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Hymans sets up London investment practice
UK – Pensions actuaries Hymans Robertson has set up a London-based investment practice – and hired a consultant from rival firm Hewitt Bacon & Woodrow.
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Ignore consultants’ advice, says Somerset
UK – The head of the 600 million-pound (867 million euro) local authority pension fund of Somerset County Council says only a bad pension fund follows the advice of investment consultants to the letter.
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UK's South Tyneside to name new actuary
UK – The two billion-pound (2.9 billion euro) South Tyneside Metropolitan District Council pension fund is to announce the replacement of Watson Wyatt as scheme actuary over the coming week.
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Baring AM’s Mantel leaves to start hedge fund
UK - European pensions expert Jan Mantel has left Baring Asset Management, where he was head of the UK and European equity team, to start his own hedge fund.
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European institutions shun consultants - poll
EUROPE – A new poll has found that 67% of European institutional investors do not employ the services of an external investment consultant.
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AP1 tenders $200-300m US small-cap mandate
SWEDEN - The 12.8 billion-euro Swedish national pension scheme AP1 has put out to tender a 200-300 million dollar US small-cap mandate.
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Chynoweth retires as chief executive of university scheme
UK – David Chynoweth, chief executive of the 31.2 billion euro Universities Superannuation Scheme education pension fund, has retired after almost 10 years with the scheme.
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International Benefits Network expands membership
UK – Finland is one of the three new countries included in the consultancy network operated by International Benefits Network (IBN), a worldwide grouping for employee benefits services. Three new member firms have been added to give greater international presence.
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UK makes proposal to raise retirement age to 70
UK – The UK government has outlined proposals to raise the retirement age to 70 – though the plans are only seen as tackling part of the problem.
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Aon in talks to buy ABN Amro’s Consultas actuarial unit
NETHERLANDS – Aon Consulting’s Dutch arm is in talks to buy actuarial consultant Consultas from ABN Amro.
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Five new mandates tendered via IPE-Quest
EUROPE – There have been five new mandates tendered via IPE-Quest, one from a Scandinavian industry-wide pension fund and four from a Swiss corporate pension fund.
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Consultants HBW launch ‘conflict free’ fund service for pensions
UK – Major consulting firm Hewitt Bacon & Woodrow(HBW) has introduced the Fund Delivery Service enabling pension funds to choose investment funds from a wide range of managers, but on a basis that claims to avoid any conflicts of interests.
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Features
'Conflict free' fund service
Major consulting firm Hewitt Bacon & Woodrow(HBW) has introduced the Fund Delivery Service enabling UK pension funds to choose investment funds from a wide range of managers, but on a basis that claims to avoid any conflicts of interests. This is for defined contribution and smaller defined benefits plans as ...
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News
AMS pension tax case seen resolved by year-end
UK – The pension taxation case of computer firm AMS Management Systems is expected to be resolved by the end of the year – helped by yesterday’s ruling against Swedish pension tax treatment by the European Court of Justice.
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HSBC’s actuarial arm hires Hewitt’s Latham
UK - HSBC Actuaries and Consultants Ltd has hired Robert Latham from Hewitt Bacon & Woodrow to be its new actuarial director in its pensions consulting practice.
