Advisers – Page 188
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News
Irish Pensions Board "customers" happy
IRELAND – Survey finds most of public never heard of board
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News
Swedish kommun takes on foreign equity managers
Sweden - The SEK100m Swedish kommun of Partille has selected Carlson Investment Management and Länsförsäkringar Wasa to Swedish balanced mandates of SEK40m each and pulled in overseas managers Fidelity and Indocam to manage SEK10m apiece in global equity funds.
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Calor cuts off P&D and Merrill
UK - The UK retirement benefits fund for gas group Calor has dropped Phillips & Drew and Merrill Lynch from a pair of £140m balanced mandates
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German employees to lead the way
GERMANY - German workers may be able to force employers to implement hybrid DB/DC second pillar pension plans under forthcoming German pensions legislation
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Spanish government postpones outsourcing deadline
SPAIN - The deadline for outsourcing of pension commitments by Spanish companies has been put back by two years due to low levels of compliance
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Consultant covets multi-manager business
UK - Consulting actuary and pension administrator Punter Southall is to merge with South Africa’s Gensec International Asset Management in a bid to enter the multi manager market..
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Myners spells out end of MFR
UK - As expected Paul Myners, the chief executive of Gartmore, has recommended in his interim report on the UK pension fund industry that the minimum funding requirement be scrapped as a safeguard for pension funds.
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FCPE shift
FRANCE - The marked shift into shares within France’s FCPE (Fonds Communs de Placement D’Entreprise) individual company savings plans, is under scrutiny following recent dips in the equity markets, according to Richard Deville, managing director of Watson Wyatt in Paris.
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News
APAM adjusts European focus
EUROPE - Allianz PIMCO Asset Management (APAM) is reshaping its European investment management business in a move it says will introduce best practice and avoid marketing conflicts across the continent.
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Diageo decides on custodian
UK - The UK-based Diageo Pension Scheme has re-appointed The Bank of New York (BNY) to act as global custodian for its fund, valued at £3.6bn (e6bn)
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News
Cornwall splits global mandate
UK - The £600m (e990m) Cornwall County Council Superannuation Fund has split a Merrill Lynch Investment Managers (MLIM) global balanced mandate into two, following a review in conjunction with consultants Hymans Robertson.
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News
New manager system launched
SWITZERLAND - Felix Kottman, executive vice president of St Gallen based Swiss consultants Complementa, has launched managerselection.com - a new internet based data platform for pension funds, consultants and asset management companies.
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News
Bacon and Callan reach parting of ways
UK - consulting actuary firm Bacon & Woodrow and US consultants Callan Associates are set to unravel their global consultancy relationship.
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Irish funds focus on managers' process
IRELAND - Irish plan sponsors are becoming more aware of the investment strategies of their funds.
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UK funds review SRI issues
UK - Jardine Reeves Brown consultants and actuaries has published its fourth annual ‘Survey into Pension Plan Compliance and Standards’ in the UK.
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Swedish investment arm closed
SWEDEN - Consultant William M Mercer has closed its three-strong investment consulting operation in Stockholm and will instead run it from the London office.
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PPM pulls in 70% of Swedes
SWEDEN - Around 70% of Swedes in the north of the country have chosen to actively invest their assets in the second round of selection under the PPM (Premium Pensions Authority) national pension scheme.
