Advisers – Page 168
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News
KPMG predicts DC pensions will be 30% less than DB
UK- Employees in defined contribution schemes are likely to receive pensions 30% smaller than those in final salary or defined benefit schemes according to research by KPMG Pensions.
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Commerzbank and Höfer launch pension fund company
GERMANY – Financial services group Commerzbank and investment consultancy Höfer Vorsorge-Management have set up PENSOR Pensionfonds AG, a joint venture pension fund company established in anticipation of the huge demand for occupational products that the Riester reforms will produce.
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Mercers publishes data on its recommended managers
UK/GLOBAL- The consultant William M Mercers today announced the publication of previously confidential track records of the investment managers it recommends to pension funds and institutional investors.
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AP3 to invest Sek6bn in private equity by 2006
SWEDEN- Sweden’s AP3 fund still has up to Sek6bn (e653m) to commit to private equity investments over the next three to four years. Last Summer it announced it was investing up to 5% of the Sek133bn fund in private equity but so far it has only committed Sek729m and invested ...
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Extel Survey includes consultants for first time
EUROPE – Fund manager and analyst ranking survey, the Thomson Extel survey, is to include the investment consultancy industry for the first time in 2002.
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AP2 to drop external managers after ALM study
SWEDEN – Sweden’s €14.4bn AP2 fund has put out a tender for a consultant actuary to undertake a new ALM study to determine its long-term investment strategy. According to AP2, some of the external managers’ contracts will be terminated as the study will lead to some of the assets being ...
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SwissAir publishes details of e680m mandates
SWITZERLAND/UK- SwissAir Pension Fund Services has published mandates valued at a total of e680m on IPE-QUEST.com.
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Swedish ministry picks Hewitt Wassum for AP study
SWEDEN- Sweden’s ministry of finance has asked the consulting alliance of Hewitt Wassum Investment Partners to evaluate the efficiency of the state run AP funds’ restructuring programme.
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Blue Sky CIO Ratra quits for new ten Cate venture
NETHERLANDS- Arun Ratra, the chief investment officer at the KLM pension fund’s investment arm Blue Sky, has left to join the consultant Lou ten Cate in a new venture called Pension Factory. Ratra joins as a managing director and is a shareholder in the company.
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Managers optimistic but want quality, says survey
GLOBAL – Most fund managers worldwide are optimistic that the global economy will strengthen this year, though corporate earnings in the US and Japan continue to come under fire, according to the latest Merrill Lynch fund manager survey.
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Hymans launches international consulting practice
UK- Actuarial and consulting firm Hymans Robertson has launched its international consulting practice and announced the appointment of Keith Faulkner as its head.
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BGI considers introduction of SRI
GLOBAL/UK- Barclays Global Investor, one of the world’s largest investment managers, is considering introducing an SRI component into its management approach.
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ATL recovers £5.1m from mis-sold pensions
UK- The Association of Teachers and Lecturers has recovered £5.1m for its members who were victims of pensions mis-selling. The ATL says more that 220 teachers have benefited from the money which has been restored to the occupational scheme.
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AIMA says hedge fund transparency lacking
GLOBAL- Research by the Alternative Investment Management Association and Capital Market Risk Advisors into the hedge fund of funds industry suggests that although investors remain wary of investing due to a lack of transparency, hedge fund managers are convinced they are providing enough disclosure.
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JP Morgan acquires majority share in FundsHub
EUROPE – JP Morgan has acquired a majority shareholding in FundsHub, Europe’s first outsourced fund supermarket solutions provider.
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Aon appoints senior executive benefits consultant
UK – Benefits and pensions consultancy, Aon Consulting, has appointed Eileen Imrie as senior consultant to its executive benefits practice.
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UK workers 'blissfully ignorant' about pensions
UK- Most of the UK workforce are blissfully ignorant about their pensions and are deluded about the amount they will receive in retirement according to research by MORI.
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SwissAir fund announces complete restructure
SWITZERLAND- SwissAir pension scheme is undergoing a wholesale reorganisation of its four individual funds which has already included the launch of two institutional umbrella funds. Over the next two months it is searching via www.ipe-quest.com for managers to oversee five further sub funds with assets totalling Chf1bn (e680m).
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DC contributions 50% lower than under DB
UK- Average company contribution rates under the increasingly popular defined contribution plans are about half the rate of those for typical defined benefit schemes according to research by the consultant Towers Perrin.
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New portal offers access to Dutch pensions market
NETHERLANDS – Dutch consultancy firm, Bureau Bosch, has launched DutchInvestor.com, an internet-based portal allowing institutional investors to remain abreast of developments in the Dutch asset management industry.
