All articles by Daniel Brooksbank – Page 180
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USS long-term mandate shortlist announced
UK – Three corporate entries have made it onto the shortlist of eight candidates in the Universities’ Superannuation Scheme’s long-term mandate competition.
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EET would boost European second-pillar – CEA
EUROPE – Tax exemption of contributions and investment returns, or exempt-exempt tax (EET), at the European level would boost the development of second-pillar pension schemes, says the Comite Europeen des Assurances.
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Hermes boosts corporate governance team
UK – Hermes Pensions Management has make three appointments to its corporate governance team, taking the total staffing of the team to 45.
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Rogge Partners in Japanese joint venture
EUROPE/JAPAN – Fixed income manager Rogge Partners has teamed up with Tokio Marine to form a Japanese asset management venture.
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WM says Dutch funds cut domestic equity holdings
NETHERLANDS – Dutch pension funds have cut their domestic equity holdings to 15%, from 40% in 1988, according to WM Co.
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UK unions to use pension assets for governance
UK – The head of the main trades union body has signalled that unions will use their pension assets to make sure that companies are ethically managed.
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LGIM says corporate pensions business rises
UK - Legal & General Investment Management has posted a 40.5% rise in new corporate pension business in the third quarter.
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OPRA names three new board members
UK – The head of pensions at oil giant BP, a union representative and a Watson Wyatt partner have been appointed to the board of the Occupational Pensions Regulatory Authority.
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UK’s Smiths taps Northern Trust for custody
UK – Industrial group Smiths Group has awarded a two billion-pound (2.83 billion-euro) global custody mandate to Northern Trust.
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EU missing older workers target – report
EUROPE – The European Commission says the European Union is missing the target of increasing the employment rate of older workers by around 650,000 a year.
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Watson Wyatt hires ex-PWC consultant
UK – Consulting firm Watson Wyatt has appointed Jacqueline Holmes as a senior consultant in the executive consulting team in its benefits practice.
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UK pension funds “hit by soft commission changes”
UK – The asset management trade body says proposed changes to rules on soft commissions will result in higher costs for pension funds – though pension consultants welcomed the moves.
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Germany’s VIP sets up governance institute
GERMANY/ITALY – German institutional shareholders’ association, the Vereinigung Institutioneller Privatanlager, has set up a corporate governance institute in Florence.
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Petroleum Fund says it fires SRI firm CaringCompany
NORWAY – The Norwegian ministry of finance has decided not to continue the Petroleum Fund’s relationship with ethical consulting firm Caring Company/Etikanalytikerna.
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CEA names pension specialist as economics head
EUROPE – The Comité Européen des Assurances has named a specialist in pensions and insurance auditing as its new economics and finance director.
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Luxembourg: foreigners key to pension system
LUXEMBOURG – Luxembourg’s public pension system is being kept in balance by cross-border workers, says the Organisation for Economic Cooperation and Development.
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Five countries vote against investment directive
EUROPE – The European Council has reached political agreement on the Investment Services Directive - although five countries voted against it.
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SSGA’s Brown wants end to strategic benchmarks
UK – Alan Brown, group chief investment officer of State Street Global Advisors, has called for an end to strategic benchmarks.
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Study finds salary liability-asset price link
GLOBAL - There is a "long-run" link between salary-linked liabilities and asset prices, according to a technical paper by an economist at consulting firm Watson Wyatt.
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P&O scheme awards E71m mandate to Investec
UK – The 1.7 billion-euro P&O Pension Scheme has awarded a 50 million-pound (71 million-euro) UK equities mandate to Investec Asset Management.
