Advisers – Page 85
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News
UBS doubles German institutional assets
GERMANY – Due partly to proliferation of big corporate pension funds, Swiss bank UBS has raised its institutional assets under management in Germany to €8bn – more than double the figure for December 2004.
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Hewitt Associates chief executive Gifford exits
GLOBAL – Dale Gifford, chairman and chief executive of pension consulting and human resources firm Hewitt Associates, is to retire at the end of the year.
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Mcube, Avida in portfolio software partnership
GLOBAL – Dutch-based consulting firm Avida International has entered into a partnership with Texas-based Mcube Investment Technologies with regards to Mcube’s web-based software product AlphaEngine.
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Man Group limits hedge funds in own scheme
UK – Man Group, the world’s largest listed hedge fund group, is limiting the hedge fund allocation in its own pension fund on the advice of Watson Wyatt, says chief executive Stanley Fink.
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Vodafone switches from DB to DC in Germany
GERMANY – The German arm of mobile phone operator Vodafone has replaced its defined benefits plan with a defined contribution plan for 9,300 employees in Germany.
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Bank of New York drawn into US probe
US – A mutually beneficial arrangement between the Bank of New York and consulting firm Wilshire Associates has emerged following questions from two US congressmen.
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New editor named at IPE Real Estate
GLOBAL – Martin Hurst, features writer at IPE Magazine, is to take over as editor at sister publication IPE Real Estate.
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Mercer in risk software link with Dutch consultant
NETHERLANDS – Dutch consulting outfit van Stuijvenberg Financial Services says it has signed a long-term cooperation contract with Mercer Investment Consulting.
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Hewitt considers raising stake in German venture
GERMANY – Hewitt Associates is considering raising its minority stake in the BodeHewitt joint venture it launched almost a year ago with Bode Grabner Beye.
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ABP eyes non-listed sector amid short-termism
NETHERLANDS - Europe’s largest pension fund, the Dutch civil service giant ABP, is planning to shift the accent of its investments to non-listed companies and real estate, says chief investment officer Roderick Munsters.
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City of Westminster axes Henderson, Aberdeen
UK – The roughly £600m (€871m) City of Westminster pension fund has axed Henderson Global Investors and Aberdeen Asset Management following a scheme restructure.
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CSAM Germany gets new chief investment officer
GERMANY - The German arm of Credit Suisse Asset Management has promoted Stefan Keitel as its new chief investment officer.
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Amonis cuts equities, real estate for hedge funds
BELGIUM – The €1bn Amonis pension scheme for dentists, doctors and pharmacists has reduced its exposure to equities and real estate, and ploughed roughly €34.2m into a fund of hedge funds portfolio managed by Key Asset Management.
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Watson Wyatt hires Aon’s Yakoubov
UK – Watson Wyatt Worldwide says it has hired Yakoub Yakoubov from rival Aon Consulting.
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Debate over UK university fund rages in press
UK – Debate over the coverage of the Universities Superannuation Scheme’s asset allocation continues to rage in the letters pages of the financial press.
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Towers Perrin in pact with Polish consultant
POLAND - Towers Perrin HR Services has signed an alliance partnership agreement with Warsaw-based employee benefits and actuarial consultancy Trio Management.
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IASB chief rues “daft” discount rate situation
GLOBAL – International Accounting Standard Board chairman Sir David Tweedie has acknowledged the “daft” consequences of the current method of determining corporate pension liabilities.
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UK regulator consults on scheme accounts
UK - The UK’s Pensions Regulator has issued a wide-ranging discussion document reviewing the form and content of pension scheme report and accounts.
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Germany’s Ehrhardt targets UK institutions
GERMANY – Independent German asset manager Dr. Jens Ehrhardt (DJE) is launching its funds in the UK, targeting institutional investors such as pension funds.
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Swiss Life names Dutch asset management CIO
NETHERLANDS - Pension insurer Swiss Life has named Gerard Sirks as chief investment officer of its Dutch arm Zwitserleven, it announced.
