All articles by Daniel Brooksbank – Page 163
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Hewitt’s Fitzpatrick queries consultant relations
GLOBAL – Nick Fitzpatrick, head of global investment consulting at Hewitt Associates, says investment managers will regret putting effort into consultant relations at the expense of client relations.
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Germany: Watson sets up insurance consulting
GERMANY - Watson Wyatt says it is setting up an insurance and financial services consulting team based in Munich under Matthias Bonikowski, who joins from consulting firm COR.
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ABP boosts State Street alliance with E79m
NETHERLANDS – The Dutch civil service pension fund ABP has given a boost to its tie with State Street with the award of 100 million dollars (79.5 million euros) to State Street Global Alliance member Advanced Investment Partners.
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Harvard professor says funded systems beat PAYG
GLOBAL – Harvard professor David Bloom says the funded pension systems in Chile, Singapore and Malaysia are superior to the pay-as-you-go systems in Europe, the US and Japan.
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Britannic AM hires sales head for pension funds
UK - Britannic Asset Management says it has hired a former Baring and Mercer executive to head sales to pension funds.
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ING pension executive Okhuijsen in internal move
NETHERLANDS – Dick Okhuijsen, who was involved in setting up ING’s global pensions operation, is to become head of ING’s business in the Czech and Slovak republics.
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European ageing to boost insurers
EUROPE – Towers Perrin’s Tillinghast arm says the European insurance industry could stand to benefit from population ageing and poor state pension systems.
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UK's OPRA issues late contributions guidance
UK - The Occupational Pensions Regulatory Authority has issued new guidance on how trustees should report late payments of contributions, saying it aims to reduce the amount trustees have to report.
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Pension funds plan “huge” hedge fund move – study
GLOBAL – Greenwich Associates says pension funds plan to put “huge amounts” into hedge funds – though transparency will become more of an issue.
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Denmark’s PKA awards US small-caps to Russell
DENMARK - The €9.7bn pension administration company Pensionskassernes Administration has awarded Russell a US small-cap equities mandate worth around $140m (€110m)
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US fund tenders micro-cap brief via IPE-Quest
GLOBAL – The pension fund of a US insurance company has tendered an actively managed micro-cap equity mandate worth an initial 25 million dollars (19.7 million euros) via IPE-Quest.
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Avon appoints ABN Amro Mellon for custody
UK - The 1.3 billion-pound (1.8 billion-euro) Avon local government pension scheme has awarded a global custody brief to ABN Amro Mellon, resulting in a loss for seven-year incumbent HSBC Global Investor Services.
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UK pooled funds rise 18.1% - Russell/Mellon CAPS
UK - Pooled balanced pension funds returned 18.1% in 2003, their first positive calendar year performance since 1999, said measurement firm Russell/Mellon CAPS.
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Siemens posts 14% pension returns
GERMANY – Industrial group Siemens says the assets of its 14.9 billion-euro pension fund returned 14% on an annualised basis in 2003, though it is still underfunded by 3.2 billion euros.
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Aventis awards Depotbank brief to State Street
GERMANY - Franco-German pharmaceuticals company Aventis has awarded a Depotbank mandate to State Street for its 1.7 billion euros of funded pension arrangements in Germany.
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Abbey confirms job losses in outsourcing plan
UK – Abbey National has confirmed that jobs will go as it plans to outsource most of the in-house fund management of its 29 billion-pound (42 billion-euro) portfolio.
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BoNY eyes continued “strategic investments”
GLOBAL – The Bank of New York has dropped a hint about its future plans, saying it will continue to make “strategic investments”.
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FRR seeks transition broker, overlay manager
FRANCE – The 16 billion-euro French pension reserve fund says it is seeking a transition broker and an overlay manager.
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MLIM sees European institutional outflows
EUROPE – Merrill Lynch Investment Managers saw outflows from its European institutional business in the fourth quarter, according to its parent company’s latest earnings report.
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Frankfurt to house EU occupational pensions group
EUROPE – European Union finance ministers have decided to locate the occupational pensions supervisory committee in Frankfurt.
