Advisers – Page 182
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Mercer retains consultancy brief of £20bn USS fund
UK – Consultant William M. Mercer has beaten off competition from Watson Wyatt and Hymans Robertson to retain the mandate for actuarial and investment consultancy to the Liverpool based £20bn (e32bn) Universities Superannuation Scheme (USS)...
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Global pension assets could rise to $18trn by 2005
Global pension assets, which at the end of 2000 represented more than $12.2trn (e13.4trn) are forecast to grow to more than $18trn by 2005, according to figures from research corporation InterSec....
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Few Europeans in US international mandate awards
US/EUROPE – Only two of the top ten managers in international cross-border mandate wins from US tax-exempt pension plans last year were European, with both houses UK based, according to Deutsche Bank owned research group InterSec....
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Baillie Gifford reopens for UK segregated business
UK - Edinburgh-based asset manager Baillie Gifford (BG) will reopen its doors to segregated mandates from UK clients as of next month, having refused new business since November last year....
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Finnish actuarial consultant expands services
FINLAND – Helsinki based actuarial consultancy and pension scheme administrator, Pensionservice (EPS) is to undergo a radical re-structuring to expand its services from May 1….
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Europe should beware US patents says ISMA
EUROPE - European banks and securities houses may have to prepare for a more widespread, US-style, application of patent rights in the financial sector, according to a report by the Zurich based International Securities Market Association (ISMA)....
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Swedes fear pensions loss on retirement
SWEDEN – Almost one third (32%) of Swedish pension savers think that they are going to get only half, or even less, of their premium (PPM) and state pensions when they retire, according to a study by Stockholm based Sifo Research & Consulting....
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Mercer climbs aboard at £15m National Express fund
UK – Bus, train and coach company, National Express Group, has appointed William M. Mercer as actuarial and benefits consultant to its £15m (e24m) pension plan....
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Giant Swiss fund goes passive for SFr1.5bn
SWITZERLAND - The SFr20bn (e13.1bn) Geneva-based Swiss Social Security fund AHV-Fonds has appointed two new asset managers for passive global equity mandates totalling SFr. 1.5bn, in the first tactical switch following changes in Swiss law earlier this year…
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UK must examine tax rules under EC communication
EUROPE – Last week’s tax communication on cross-border pension provision by the European Commission (EC) has been welcomed by consultant PricewaterhouseCoopers (PWC), although the adviser warns that the UK government will have to come up with a response to the EC over its own tax treatment on contributions made to ...
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Thornton takes top European slot at Watson Wyatt
EUROPE - Paul Thornton is to become the new senior partner at consultant Watson Wyatt Partners, the European arm of Watson Wyatt Worldwide, following the retirement of Bob Masding on April 30….
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UK pension fund pursues private equity strategy
UK – The London Borough of Newham is looking to appoint a private equity manager to invest between £5-15m (e8-24m) in a private equity fund of funds mandate....
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SFr10bn fund elects president to begin outsourcing
SWITZERLAND - The newly created SFr10bn (e6.5bn) pension foundation for the Swiss post office has elected Jurg Puchar as president of the board, in advance of a full board announcement and details of investment outsourcing expected in mid-May....
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European property figures hold up strongly
SWEDEN/IRELAND – Swedish property returns rose strongly in 2000, while Irish property assets retained their strong performance levels, according to figures published by the London based property index provider, Investment Property Databank….
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European pension fund awards ceremony announced
EUROPE - Investment & Pensions Europe Magazine (IPE) – parent magazine to IPE-Newsline.com, has announced the first awards ceremony specifically for Europe’s pension funds, with the aim of setting an industry benchmark for excellence in scheme management....
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Sector funds pool DKr1.5bn with T. Rowe Price
DENMARK – Three sector-wide Danish pension funds have pooled assets and appointed US investment manager T. Rowe Price to run a DKr1.5bn (e201m) global high-yield bond brief....
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Delays expected on European pensions directive
EUROPE – The European directive on supplementary pensions may not be ratified by the Parliament until the end of the summer, following a delay in the adoption of the Karas report in the European Monetary Affairs Committee (EMAC)....
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DC benefits may 'unpleasantly surprise' members
UK – Contributions to defined contribution (DC) plans are inadequate to provide acceptable income levels in retirement, according to a survey by consultants William M Mercer....
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Aberdeen buys Swedish property outfit Celexa
UK/SWEDEN – Swedish pension insurance company Alecta (formerly SPP) is selling its property management firm, Celexa Group, to Aberdeen Asset Management....
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UK MPs choose BoNY for custody
UK – The Parliamentary Contributory Pension Fund, the retirement scheme for UK members of parliament (MPs), has appointed The Bank of New York to provide investment accounting and global custody services to its £300m (e487m) assets….
