Advisers – Page 155
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European private equity down 30% to e27bn
EUROPE – European private equity firms saw the value of funds raised decline by almost 30% in 2002, with the combined total of 27.4 billion euros raised by 57 funds far short of 2001’s 38.2 billion euros, according to private equity research firm AltAssets.
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Watson Wyatt names global financial services head
GLOBAL – Pensions consultant Watson Wyatt has named Philip Brook to replace Nick Dumbreck as its global practice head for insurance and financial services consulting.
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US fund sponsors’ costs rise 10% - report
US – US pension fund sponsors’ operational costs have risen 10% in the last three years, to almost 0.4% of total assets, according to new research by the Callan Investment Institute – with the rise driven by staff pay and fee rises.
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Pension fund in e50m equity mandate via IPE
EUROPE – Zurich-based consultant Kottmann Advisory, acting for a pension fund client, has placed a mandate for a 50 million euro equity portfolio via the IPE-Quest site.
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Sweden warns ABN Amro fund unit
SWEDEN – The Swedish financial regulator has warned ABN Amro’s Banco Fonder over violations to investment rules concerning the amount invested in unlisted securities – Banco says it may have mis-read the regulator’s intentions.
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Green Paper passes UK actuary test
UK – The Association of Consulting Actuaries (ACA) has welcomed many of the proposals put forward by the UK government in its Green Paper.
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Consultants cautious welcome for pension tax plans
UK - The simplification aspects of the proposed pension tax changes announced by the Treasury this week have been welcomed by international consultants Mercers.
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SEB names Lager to head mutual fund unit
SWEDEN – SEB Asset Management has named Cecilia Lager as head of its mutual fund arm, SEB Fonder, replacing Jan Palmberg who is moving to another role within SEB.
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MLIM says it’s still winning European mandates
UK – Merrill Lynch Investment Managers says it is still winning “significant levels" of new mandates across Europe, despite a series of recent losses from UK local authority pension funds and its loss of the Merrill Lynch UK Investment Trust mandate.
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Watson advises clients away from equities
EUROPE – Pension consultancy firm Watson Wyatt says it is advising its clients to move away from equities and that it knows of “very few” firms that invest in accordance with best practice.
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PIRC calls on trustees to take responsibility
UK – Pension fund trustees must take more responsibility for overseeing investment strategy, and must use their power as shareholders to intervene at underperforming companies if markets are to be reformed, says Pensions Investment Research Consultants, or PIRC.
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UK firms providing wider funds choice – report
UK – UK companies with defined contribution schemes are providing employees with an increasingly wide choice of investment funds, says consultants Watson Wyatt.
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Mutual funds are best channel for Italy - Cerulli
ITALY – The Italian mutual fund advisory programme market is the most effective way to penetrate the Italian asset management market, says Boston-based asset management research and consulting firm, Cerulli Associates.
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Chiswell names head of pension fund marketing
UK – London-based investment manager Chiswell Associates has appointed Simon Hill as its new head of pension funds marketing in a push to develop its institutional pension fund business.
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UK government to propose simpler pension rules
UK – The UK government says it will propose simpler regulation and better “information flows” in its long-awaited Green Paper on pension reform.
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Cariplo pension fund seeks operating consultant
ITALY – Cariplo’s 2.7 billion euro pension fund says it is looking for an operating consultant to assist in its recent decision to outsource part of the fund to external managers.
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BGI assets slide 17% in nine months
UK – The largest manager of European pension fund assets, Barclays Global Investors, has seen its assets under management tumble by 90 billion pounds - almost 17% - in the first nine months of 2002.
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Watson Wyatt wary of DC “mis-selling”
UK – Pension consultant Watson Wyatt has called for greater communication about defined contribution pension schemes from employers to avoid the possibility of another pension “mis-selling” scandal.
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AXA sets up UK pensions support unit
UK – AXA says it will spend a “considerable sum” to position itself among the top five players in the UK corporate pension scheme market. It has set up a specialist unit to provide large schemes with a range of support services designed to let firms keep running costs ...
