Advisers – Page 151
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Actuaries see “disturbing” UK final salary data
UK – The Association of Consulting Actuaries says that almost three-quarters of UK final salary pension schemes are now closed to new entrants – a state of affairs it calls disturbing.
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E1.2bn TNO fund appoints enhanced index manager
NETHERLANDS - The Rijswijk-based e1.2bn TNO pension fund for workers in the Dutch public/private sector for research and statistics, has awarded State Street Global Advisors an enhanced index mandate worth around e100m over the next couple of years.
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Fund managers see little value in bonds
GLOBAL – Only 4% of fund managers believe that there is any value left in bonds, according to a survey conducted by Merrill Lynch.
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Hewitt focuses on international business
US - Employee benefits and investment consultancy firm Hewitt Associates says it is paying a lot of attention to its international business, following its acquisition of pension consultant Bacon & Woodrow in the UK.
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Watson Wyatt hires Friends Ivory equities head
UK – Pensions consultancy form Watson Wyatt has hired the head of global equities from Friends Ivory & Sime to be a senior consultant in the UK.
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Multi-management to hit consultants, managers
UK - The increasing appeal of multi-managers will have an effect on both the UK consulting industry and the investment management industry, according to investment firms Frank Russell and Morgan Stanley.
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Dutch PVK seeks comment on pension solvency
NETHERLANDS - The Dutch pensions and insurance regulator PVK has invited the country’s pension funds to comment on a new White Paper concerning pension fund solvency requirements.
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CDC hires Ofivalmo head for equities
FRANCE – CDC Ixis Asset Management has appointed a former board member of Ofivalmo as its head of European and emerging equity investments.
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Mercer consultant named Irish ombudsman
IRELAND – The Irish government has appointed its first pensions ombudsman. Paul Kenny will take on the position in mid-April.
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UK pension trustees set to challenge managers
UK - A survey of pension funds has found that trustees are becoming more likely to question their investment managers over transaction costs and activism.
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Dutch pension funds buy e20bn of equities
NETHERLANDS – Dutch pension funds bought eight billion euros worth of bonds and 20 billion euros in equities in 2002, according to government statistics.
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UCITS now 78% of European fund market
BELGIUM – UCITS, or Undertakings for Collective Investment in Transferable Securities, now account for almost 78% of the European investment fund market, according to new data from the European Federation of Investment Funds and Companies, FEFSI.
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UK e1bn council pension fund names actuary
UK – The 700 million pound (1.02 billion euro) Dorset Council Pension Fund in southern England has appointed a subsidiary of South Africa’s Sanlam to provide actuarial services.
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ECB rate cut raises pressure on pension funds
EUROPE – The European Central Bank’s quarter-point rate cut today is likely to increase the pressure on pension funds, analysts said.
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State Street hints at custody acquisition
UK – State Street Corp. says it would not rule out a further global custody acquisition as the industry consolidates.
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Io Investors makes hires in UK push
UK – Manager of managers firm Io Investors, part of South African financial services group Sanlam, has hired Old Mutual’s head of research as part of a UK push.
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Ireland to “grasp nettle” on pensions
IRELAND – The Irish government says it will “grasp the nettle” if it finds that it needs to make supplementary pensions mandatory.
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Accountants debate pension liabilities
UK – There’s a lively online debate taking place amongst accountants about the merits - or otherwise - of including actuarial liabilities within the financial reports of pension schemes.
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Watson Wyatt makes Swedish hire
SWEDEN – Pensions consultancy Watson Wyatt has appointed Elisabeth Wass as head of employee benefits consulting services in its Stockholm office.
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UBS wins top European fund award
LUXEMBOURG – Swiss bank UBS has been named the “best overall” European fund promoter in the second annual European Funds Awards.
