Advisers – Page 152
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Ex-Watson Wyatt consultant joins Paamco
EUROPE – Stephen Oxley, former senior investment consultant at Watson Wyatt is to head up Pacific Alternative Asset Management Company’s (Paamco) new European hedge fund of funds operations in London.
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Allianz corporate pension business up 37%
GERMANY – German life insurer Allianz Leben has seen its new premiums from corporate pension business rise almost 37% to 850.6 million euros.
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Innovest hires ex-Fitch research head
UK – Andy White, the former managing director of research at ratings agency Fitch, has joined Innovest Strategic Value Advisors’ London office.
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Pensions and savings ‘not in crisis’ says UK Govt
UK - The UK government has denied suggestions that Britain is facing a pensions and savings crisis, responding to questions in the House of Lords.
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Sweden's AP1 announces double-digit loss for 2002
SWEDEN – AP-1, the 117.1 billion Swedish krone (12.8 billion euro) first Swedish national pension fund, has posted a loss of 13.8% for 2002, and has announced changes to its asset allocation following an ALM study....
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Bank of NY in Kimberly Clark UK custody win
UK – The 365 million pound (544 million euro) UK pension fund of paper products firm Kimberly Clark has appointed the Bank of New York as its global custodian.
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Finland’s Varma sees higher-than-inflation yield
FINLAND – The largest Finnish pension insurer, Varma-Sampo, sees its average yield rising to 3%-4% higher than inflation – the prediction came as it reported a 1.9% yield on investments in 2002.
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Pension funds rate Pictet top for custody
EUROPE – Pension funds have again rated Pictet as the best global custodian in the latest survey of the custody business by UK firm R&M Consultants.
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Firms petition European Commission on SRI
EUROPE – Fifty European organisations, businesses and professionals have submitted a formal petition to the European Commission to include provisions related to social responsibility in its new directives on prospectus obligations.
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Skandia chief Ramqvist resigns
SWEDEN – Lars Ramqvist has resigned as chairman of troubled Swedish insurer Skandia following a year in which operating profits almost halved.
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Consultant calls for bond product improvement
UK – Asset managers serving the pensions market should align their bond management products more closely with the liability needs of pension funds, urges consultants Hewitt Bacon & Woodrow.
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Dutch fund seeks E35m emerging market debt manager
NETHERLANDS - A Dutch pension fund has put out to tender a 35 million euro global emerging markets debt mandate via IPE-Quest.
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UK research body calls for action on longevity
UK – The head of the Pensions Policy Institute research body has called for more action on "longevity-related issues" in UK pensions policy.
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PwC sees four priorities for UK pension system
UK – PricewaterhouseCoopers has suggested that there are four pension issues that need to be addressed by the government - better financial education, greater simplicity, fewer tax complications and improved age discrimination.
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SEI wins e45.4m global equity mandate from AEP
UK – AEP Energy Services Generation Ltd.’s pension fund has appointed manager of managers SEI Investments to run a 30 million pound (45.4 million euro) global equity mandate.
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HSBC sets up trustee advisory service
UK – HSBC’s actuarial consultancy arm has launched a service to advise pension fund trustees in the wake of the Myners report.
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France formalises e13bn reserve fund outsourcing
FRANCE - The French government has set the ball rolling on one of the world’s largest institutional RFPs with the formal naming yesterday (February 6) of the executive committee that will administer the 13 billion euro French pensions reserve fund (Le fonds de réserve).
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Mody to develop Hewitt’s business in N. England
UK – Hewitt Bacon & Woodrow has named Raj Mody and Andy Staddon to run its Leeds office in the northern English county of Yorkshire.
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CDC tops French asset management survey
FRANCE – CDC Ixis Asset Management has been voted the top French asset manager by France’s largest institutional investors, according to a survey conducted by consultants Amadeis.
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New UK pensions consultant Epic spies niche
UK – In the current environment, you might think it would not be advisable to start a new pensions business, but Epic Investment Consulting thinks it’s found a worthwhile niche
