Advisers – Page 148
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News
ADAM launches ‘new balanced’ approach for European institutions
EUROPE – The European asset management industry could well be moving away from traditional balanced portfolios to a new-type of balanced funds with elements of multi-management and specialisation, says Allianz Dresdner Asset Management (ADAM).
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ABP’s chief investment officer backs equities
NETHERLANDS – The chief investment officer of Europe’s largest pension fund, the 133-billion euro Stichting Pensioenfonds ABP, has put his weight behind equities’ role in pension fund portfolios.
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New head for Milliman Global network
GLOBAL - Carl Hansen has been appointed executive director of Milliman Global, an international organisation of actuarial and consulting firms that includes Hymans Robertson and Milliman UK.
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Romania to raise pensions by 2.7% - report
ROMANIA – The Romanian government has decided to raise public pensions payments by almost three percent from next month, according to local reports.
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Towers Perrin promotes 11 new principals in Europe
EUROPE - International consultants Towers Perrin has announced seven new principals to its European consulting practice. Four of these are in the UK, two in France and one each in Germany and Italy.
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SWIP names head of Italian business
ITALY – Scottish Widows Investment Partnership has appointed Francesco Albano as its new head of Italian business development.
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OPRA wants fund managers to blow whistle
UK - The Occupational Pensions Regulatory Authority has suggested that fund managers act as “whistleblowers” for mis-managed pension schemes – which a trade body said could result in a conflict of interest.
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Dutch dental fund SPT names new director
NETHERLANDS – The 1.1 billion euro industry-wide pension fund for Dutch dentists has named Mr. B van de Belt as its new director.
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ABP, PGGM oppose Telecom Italia-Olivetti merger
EUROPE – Some of Europe’s largest pension funds have backed a call opposing Telecom Italia’s planned merger with Olivetti.
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Institutions flex muscles in Glaxo pay vote
UK – Shareholders have voted to reject a controversial pay package of the chief executive of drugs company GlaxoSmithKline - the first time a UK blue-chip company has had its pay scheme rejected by shareholders.
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UK pension funds lack formal assessment of consultants
UK – An overwhelming majority of UK pension funds have no formal way of assessing the advice they receive from consultants, according to a new survey.
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Citigroup AM hires Doyle from Allianz Dresdner
UK – Citigroup Asset management has appointed Frank Doyle of Allianz Dresdner Asset Management to head up institutional sale in the UK and Ireland.
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West Sussex tenders property portfolio
UK – The 750 million pound (1.05 billion euro) West Sussex County Council pension fund has put its direct property portfolio up for tender.
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UK’s Surrey Council looking for custodian
UK – Surrey county council is looking for a global custodian for its 850 million pound pension fund following Deutsche Bank’s exit from the custody market.
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Hymans Robertson names new partners
UK – Pensions actuaries Hymans Robertson has named two new partners – taking its total partners to 23.
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Asset managers “need louder voice at Brussels”
EUROPE – The outgoing head of the UK’s asset management trade association says there is a lack of understanding of the industry at the European policy level.
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Mercer: managers open to liability benchmarking
UK - Mercer has found that UK investment managers are open to the idea of using liability benchmarking – though it says there has to be more dialogue between trustees, consultants and managers to make them workable.
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Minister says Germans need occupational schemes
GERMANY - Germans should not only be investing in their pensions through Riester-Rente but also through occupational pension schemes - says German labour minister Ulla Schmidt.
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New European property investment body to launch
EUROPE – A new pan-European body for investors in non-listed real estate is to launch next week which hopes to tackle the issues arising in the growing market.
