Advisers – Page 156
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News
Hewitt’s fourth-quarter consulting revenues surge
US – Pension and human resources consultant Hewitt Associates’ fourth-quarter consulting revenues rose 47% to 186.1 million dollars from 126.7 million dollars in the fourth quarter of 2001. It said the rise was partly driven by its purchase of Bacon & Woodrow in the UK.
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News
UK’s Brown disappoints on pensions
UK - The UK’s Chancellor of the Exchequer Gordon Brown has disappointed industry-watchers for providing no new incentives for pension provision in his pre-budget report.
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News
Gerling expands pensions consulting business
GERMANY – German insurer Gerling has expanded its employee benefits operation by merging of its internal pensions department with its existing pensions consultancy business.
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News
IPE previews UK pension reform proposals
UK – With the UK government’s “Green Paper” proposals on pension reform expected to be released from November 27 onwards, IPE-Newsline previews the key issues that will be addressed.
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News
UK to release pension proposals on November 27
UK - The UK government’s proposals on pension reform – in a so-called Green Paper - will be released on Wednesday November 27, according to a spokeswoman at the UK Treasury.
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News
Finland: discretionary management to rise
FINLAND - Around 20% of Finnish institutional investors say they will increase their use of discretionary and mutual fund management by the end of 2004, according to an industry report released in November by Scandinavian Financial Research (SFR).
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News
MLIM faces another UK mandate loss
UK - Merrill Lynch Investment Management risks losing its third mandate in a month with the north-west London local authority of Harrow putting out to tender a 90 million pound (141.14 million euro) global equity mandate which it currently manages.
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News
Beerling takes top pensions admin job at SFB
NETHERLANDS- The administration arm of Dutch financial services company SFB Groep has named Frans Beerling as its new director following the death of Joop van Wees earlier this year.
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News
TotalFinaElf hires Hewitt Bacon for new scheme
UK - French oil company TotalFinaElf has hired consultants Hewitt Bacon and Woodrow to act as advisor on its newly merged 1 billion pound (1.57 billion euro) UK pension fund. Financial terms of the deal were not disclosed.
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News
Pension funds shun domestic stocks - report
EUROPE - Pension funds are moving away from investing in domestic equities, says research group Greenwich Associates. And what it calls a “global standard” of investment management methods is emerging.
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Norway: investment proposals welcomed
NORWAY - Norway’s market players have welcomed proposals to change regulations governing pensions fund investments as set out in a report by Caspar Holter, partner of Oslo-based consultants Pensjon & Finans.
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News
UK funds "post 13% negative return"
UK - Deutsche Bank-owned consultancy the WM Company calls the situation “severe” as UK pension funds post a negative return of almost 13% in the three months to the end of September 2002.
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News
State Street clinches Deutsche custody deal
GERMANY/US - US bank, State Street Corporation, has signed definitive agreements with Deutsche Bank to acquire its global custody business. The business has assets under custody of approximately e2.2trn, taking State Street’s assets under custody up to almost e8trn. The move will result in State Street becoming the largest custodian ...
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News
French utilities unions mull pensions protest
FRANCE - France’s energy unions are preparing to strike on November 14 over changes to their pensions system brought about by the forthcoming privatisation of Gaz de France (GdF) and Electricite de France (EdF).
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News
Swiss funds face increasing 'fiduciary risk'
SWITZERLAND - The majority of Swiss pension funds are not adequately geared to face today’s market conditions, reveals a survey by RCP & Partners, European fiduciary rating agency in Geneva. As a consequence, beneficiaries in defined contribution plans are facing increasing fiduciary risk.
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News
Dundee seeks specialist manager for bond mandate
UK - Dundee City’s £775m (e1.21bn) Tayside superannuation fund is tendering for a fund manager to manage a £93m bond mandate. The scheme joins the latest in a line of UK funds switching from a balanced strategy to a specialist strategy.
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News
Aon appoints Wilken in Amsterdam
NETHERLANDS - Aon Consulting has apppointed Bob Wilken as a senior consultant in its Amsterdam office. Formerly, Wilken held management and account management positions at Delta Lloyd NV.
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Features
Tasters of world fund styles
o The Merrill Lynch Global Equity Fund currently has more than half of its $302.3m in assets invested in US stocks. But because the fund takes a bottom-up approach to stock selection, says Graham Bamping, retail investment director at Merrill Lynch Investment Management, geographical distribution is not the driving force ...
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Features
Factors in global equity success
Experience and a pragmatic approach are the critical factors in boosting relative performance for global equity managers according to the latest analysis of offshore based funds, published by Standard & Poor’s Fund Research. In the current bear market, few global equities fund managers have experienced such a protracted recession. Long ...
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Features
Turning down the volume
Pension funds and their consultants are wary of hedge funds, largely because they cannot pigeonhole them into any of the traditional asset classes, and therefore find them difficult to benchmark. As a result, they have tended to approach them through the multi-manager route, rather than directly. By apportioning a mandate ...
