Advisers – Page 164
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New Swedish government fund angers employers
SWEDEN- A new collectively-agreed supplementary pension scheme for 220,000 central government workers in Sweden has angered employers, who fear it will encourage private sector employees to press for higher employers’ contributions to their own schemes.
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Meijer builds back office for European schemes
NETHERLANDS- Former Shell pension fund treasurer Robert Meijer is launching an integrated back office system for pension funds in Europe. Meijer, now an independent consultant, along with an IT company, an accountancy firm and a software house began developing the system two months ago.
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Hymans Robertson names new partners
UK- Actuarial and consulting firm Hymans Robertson has announced the appointment of five new partners: David Bowie is head of quantitative analysis in the firm’s investment practice and has been with Hymans since 2000 when he joined from the WM Company.
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Mercer presses for change to pensions regulations
UK- Mercer Human Resource Consulting is urging the government to introduce radical changes to taxes and regulations governing both public and private pension provision.
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Luxembourg's first SEPCAV closes
LUXEMBOURG- Luxembourg’s first SEPCAV has closed after two years having failed to raise any funds. Launched at the end of 2000, Alliance Pension Fund (APF) was a partnership between the consultants Barnett Waddingham, Banque Generale du Luxembourg and Alliance, the Dubai-based insurance company.
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Dresdner RCM promotes Doyle to consultant role
UK – Dresdner RCM Global Investors has promoted Frank Doyle as head of global consultant relations, with Eilish O’Hagan taking over Doyle’s previous position as head of institutional sales, UK and Ireland.
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EC directive will not complete in next six months
EU member states have come closer together in recent months in their positions about the EC’s proposed pensions directive, said Jean-Yves Muyelle of the commission. “However, there is not as yet agreement among them,” he added.
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Belgian minister sets 2003 pension law deadline
BELGIUM- The Belgium ministry of finance has said that the country’s new occupational pensions legislation will be passed and in place by the beginning of next year.
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Lothian seeks manager for e130m mandate
UK- The £1.9bn Lothian pension fund is looking for a manager to oversee a new £80m (e130m) global equity mandate. The decision follows a structural review of the fund last year by consultant Hymans Robertson.
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Mercers launches online custody database
UK- Mercer Investment Consulting has launched an internet-based global custody database that it says will produce a more up to date and efficient source of information for pension plans, foundations and investment managers.
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Alsma named as general secretary of OPF
NETHERLANDS – Meindert Alsma has been named as the new general secretary of The Hague-based OPF, the Dutch pension fund association, following the departure of Nico Obolonsky who left the association in March to concentrate on his career in insurance.
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Jobling is new CAPS UK and Europe marketing head
UK- Information provider Russell/Mellon CAPS has appointed Richard Jobling to the newly-created position of head of sales, marketing and relationship management for UK and Europe.
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UK pension funds view private equity as 'trouble'
UK- The flight of UK pension funds from equities into bonds has dashed hopes that schemes would increase their investment in private equity, according to a senior pension fund consultant.
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US managers want more transparency from analysts
US – Almost half of US portfolio managers want to direct more of their business to brokers that don’t have a conflict of interest between their research and investment banking operations, according to Connecticut-based consulting firm, Greenwich Associates.
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Only 6.6% Italians sign up to new pension funds
ITALY – Only 6.6% of Italy’s 19.5 million workers have signed up to one of the country’s new complementary pension funds, according to Milan-based consultancy firm, IAMA Consulting, who says the figure falls way below the 20% forecast at the time of the Dini pensions reforms of 1995.
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Swiss fund seeks managers for two $20m mandates
SWITZERLAND: Two $20 million mandates for Index-Enhanced Global Debt and Active Swiss Equities have been announced by Zurich-based investment consultant Felix Kottmann of Kottmann Advisory for a Swiss pension fund client.
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Watson Wyatt to take on limited liability status
UK- Watson Wyatt is this week introducing a limited liability aspect to its partnership structure. At present partners’ possessions, including houses, are liable if the consultancy is sued but will be exempt following the introduction of limited liability.
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Fixage poaches Watson Wyatt's Deville
FRANCE – Richard Deville, director of employee benefits and investment consulting at Watson Wyatt in Paris, has left the company and joined rival Paris consultancy, Fixage, as head of its pensions and benefits practice.
