All articles by Daniel Brooksbank – Page 155
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PWC hires Watson Wyatt partner McDonald
UK - Watson Wyatt partner Peter McDonald has joined PricewaterhouseCoopers as head of its team of 30 actuaries and pension consultants in the north west of England.
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SEB says new pension standard to hit profit
SWEDEN – SEB estimates new pension accounting standards will hit 2004 profit by around 250 million crowns (27.2 million euros).
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CoreRatings hires EBRD’s Nazari as research head
UK – Corporate governance and socially responsible investing consultant CoreRatings has hired an environmental specialist from the European Bank for Reconstruction and Development as head of research.
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Sweden’s AMF Pension swings to positive returns
SWEDEN – AMF Pension made a total return of 10.8% in 2003, marking a shift from a negative 10.2% return a year before.
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Petroleum Fund beats benchmark by 0.59 points
NORWAY – The Petroleum Fund made its highest ever return in 2003, 12.6%, beating its benchmark by 0.59 basis points.
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EU says DC schemes not classed as social security
EUROPE – The European Union’s statistical office says government-run defined contribution pension schemes cannot be classified as social security schemes.
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New funding guidelines for UK local govt scheme
UK – New guidelines on funding strategy statements have been published for authorities involved in the Local Government Pension Scheme.
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European investment funds rise 12% - FEFSI
EUROPE – The combined assets of the European investment fund market rise by 12% in 2003, said industry body FEFSI.
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Enlargement “to ease UK pension problems”
UK – A new report backed by accounting firm Ernst & Young says inward migration to the UK as a result of the expansion of the European Union will help to ease pension problems.
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State Street joins equity trade platform E-Crossnet
EUROPE – State Street Corp. has become a participant and shareholder in the European equity trading platform E-Crossnet.
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S&P to shift US indices to ‘free float’
US – Standard & Poor’s is to change its US indices so they more closely reflect the amount of shares available to investors.
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Austria’s Raiffeisen buys Russian pension fund
RUSSIA - Raiffeisenbank Austria has bought non-state Russian pension fund Dobroe Delo for an undisclosed sum in a bid to enter the third-pillar market.
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Schroders to spend more on portfolio management
UK – Schroders said it expects to spend more on portfolio management and research this year than it did in the last two years.
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State Street Jersey fund executive joins ING unit
JERSEY – The head of operations at State Street’s Jersey fund administration unit, Graeme McArthur, has joined ING’s Baring Financial Services Group.
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Nordea buoyed by end to guaranteed returns
SCANDINAVIA – Nordea says a change to its life and pensions model - which ended guaranteed returns - has helped to reduce the volatility of its earnings.
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M&S to issue bonds to aid pension shortfall
UK – Marks & Spencer says it will issue bonds to fund a 400 million-pound (600 million-euro) injection into its 2.6 billion-pound UK defined benefit pension scheme.
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ISIS invests in alternatives firm Cardinal
UK – ISIS Asset Management is buying a 15% stake in a new alternative investment house called Cardinal for 7.5 million euros.
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Deutsche Boerse, Euronext report strong turnover
EUROPE – Both Deutsche Boerse and Euronext have reported strong turnover figures for February.
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AXA IM adds E9.5bn in new institutional business
EUROPE - AXA Investment Managers had a net inflow of 9.5 billion euros of institutional business in 2003.
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EFRP’s Pickering queries trustee training
EUROPE – The chairman of the European Federation for Retirement Provision, Alan Pickering, has queried the value of trustee training.
