All IPE articles in August 2004 (Online) – Page 4
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Alternatives 71% of new UBS institutional assets
GLOBAL – More than 70% of the new institutional assets at UBS’s asset management arm in the second quarter were inflows into its alternative and quantitative business.
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Mercer names new head of pensions admin
UK – Mercer Human Resource Consulting has named Patrick Cosgrave as head of its pensions administration practice.
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Punter Southall opens Glasgow office
UK - Actuarial consultancy Punter Southall & Co. has opened an office in Glasgow run by ex-Hazell Carr Pensions Consulting staffers Ann Marie Dickson and Andy Thomson.
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Medical society taps State Street for custody
UK - The Medical Protection Society Ltd. has awarded State Street a custody and transition management services brief and has retained its asset management arm for its 460 million-pound (688.7 million-euro) portfolio.
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Gartmore names institutional chief
UK - Gartmore Investment Management has named Invesco UK’s Angus Woolhouse as head of business development for its global institutional and alternative investments business, spanning the US, Europe and Japan.
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Trustees and consultants “ill-informed” - ABN Amro
UK - ABN Amro, which last week launched a pension advisory unit, says both pension fund trustees and consultants are “ill-informed in investment matters”.
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Alternative ‘wall of money’ not seen – Mercer
GLOBAL – Mercer Investment Consulting says the predicted “wall of money” into alternative assets such as hedge funds has not materialised – in part due to the lack of transparency, costs and governance problems.
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Irish board spends more on rent than awareness
IRELAND – The Pensions Board, the Irish pensions regulator, spends more on office rent than on its pensions awareness campaign, its accounts reveal.
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CalPERS hedge fund returns miss benchmark
US – CalPERS, the largest US pension scheme, says its hedge fund returns underperformed their benchmark by more than four percentage points for the year to the end of June 2004.
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Dutch funds’ Harcourt in German hedge move
GERMANY - Commerzbank’s Cominvest Asset Management and Dutch pension-fund-owned Harcourt Investment Consulting are planning to launch a fund of hedge funds in the second half of the year.
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Northern Trust hires Leech for planning role
GLOBAL - Northern Trust says it has hired Wilson Leech from State Street to be head of international strategic planning, a new role.
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TKP Pensioen boosts Aegon earnings
NETHERLANDS – Aegon’s first-half earnings have been boosted by its TKP Pensioen pension administration arm.
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Watson Wyatt & Co. in “thought leadership” focus
US – Watson Wyatt & Co., the US sister firm of Europe-based Watson Wyatt LLP, says it aims to stay focused on “thought leadership” – despite a fall in income and revenue.
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Martinez-Aldama hopeful on pan-European pensions
EUROPE – Angel Martinez-Aldama, the head of the Spain’s pension association and vice chairman of the European Federation for Retirement Provision, has expressed hopes that pan-European pension funds will be soon be a reality.
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AMF Pension returns 4.3% in first half
SWEDEN- The 210 billion-crown (22.8 billion-euro) pension provider AMF Pension has reported a return of 4.3% in the first half of the year - compared with last year’s first half result of 5.8%.
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ABN Amro: consultants, trustees not to blame
UK – ABN Amro has sent a letter to IPE about an item we ran yesterday picking up comments it made about consultants and trustees. The full text of the letter is below:
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T&N crisis talks at “stalemate” (Update)
(Updates headline) UK – Alexander Forbes, scheme trustee at the crisis-hit Turner & Newall Pension Scheme, says talks over the future of the scheme have hit an impasse.
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Czech pension clients rise to 2.8m
CZECH REPUBLIC - The number of privately insured Czechs rose by 150,000 year-on-year to 2.81 million in the first half of this year, the Finance Ministry said.
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HSBC AM names global fixed income head
GLOBAL – HSBC Asset Management has named a former Citigroup and Credit Suisse Asset Management executive, Gregg Diliberto, as its new global head of fixed income.
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Fidelity names new UK DC development head
UK – Fidelity Investments has appointed Julian Webb as head of business development for its UK defined contribution business.
