All articles by Daniel Brooksbank – Page 194
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Hymans sets up London investment practice
UK – Pensions actuaries Hymans Robertson has set up a London-based investment practice – and hired a consultant from rival firm Hewitt Bacon & Woodrow.
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Ignore consultants’ advice, says Somerset
UK – The head of the 600 million-pound (867 million euro) local authority pension fund of Somerset County Council says only a bad pension fund follows the advice of investment consultants to the letter.
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AMF names Northern Trust as custodian
SWEDEN - The 22.9 billion-euro AMF Pension has appointed Northern Trust as custodian for its international portfolio.
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LGIM is largest UK pension fund manager - report
UK – Legal & General Investment Management is now the largest manager of pension fund assets in the UK, with 60.4 billion pounds (87 billion euros) under management, according to Hymans Robertson.
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ABP posts second quarter returns of +6.9%
NETHERLANDS – Europe’s largest pension fund, Stichting Pensioenfonds ABP, has announced that it made a total return on investment of 6.9% in the second quarter - boosted by rises in equities and alternatives.
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Directive a success for insurers, says CEA
EUROPE – The European insurance industry body, the Comité Européen des Assurances, says the European directive on occupational pensions represents a “substantial success” for insurers.
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Diageo takes E136m pensions charge
UK – Drinks firm Diageo is to take a 95 million-pound (136.8 million euro) charge in relation to its 1.4 billion pound pension deficit.
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Spain has 10-year pension reform window – PWC
SPAIN – The Spanish government has a 10-year window of opportunity to reform the pension system which it “cannot afford to miss” says PricewaterhouseCoopers.
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European institutions shun consultants - poll
EUROPE – A new poll has found that 67% of European institutional investors do not employ the services of an external investment consultant.
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HFR boosts European institutional marketing
UK – Hedge Fund Research has hired a former Bank of America vice president to boost its European institutional marketing.
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Scandinavian fund tenders EM equities via IPE-Quest
EUROPE – A Scandinavian public pension fund has tendered an 80 million-dollar (70 million euro) emerging markets equities mandate via IPE-Quest.
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IMF backs French pension reform plans
FRANCE – The International Monetary Fund says French pension reform is likely to raise participation rates – which would have a positive effect on fiscal sustainability.
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Law Debenture names new chief financial officer
UK – Law Debenture has named a former Arthur Anderson partner as its new chief financial officer to replace Peter Skeggs.
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Kosovo pension fund looking for auditor
KOSOVO – The Kosovo Pension Savings Trust is seeking to appoint an auditor for its accounts for the 2002 and 2003 financial years.
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OPRA chairman gets 14% pay rise
UK – The chairman of the Occupational Pensions Regulatory Authority has seen her salary rise by 14%.
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Pension funds were top contributors to PE in 2002
EUROPE – Pension funds were the largest contributors to European private equity vehicles in 2002, according to a new report.
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Irish managed funds rise 3.7% in first half
IRELAND – Irish group managed funds rose an average of 3.7% in the first half of this year, according to figures from Mercer Investment Consulting.
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Credit Suisse AM UK bond director leaves
UK – Credit Suisse Asset Management’s director of UK fixed income, Kevin Adams, is to rejoin Henderson Global Investors.
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ABP to submit recovery plan to regulator
NETHERLANDS – Europe’s largest pension fund, the 133-billion euro Dutch civil service Stichting Pensioenfonds ABP, is to submit a recovery plan to the pensions regulator PVK.
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Consultants should not provide asset mgmt - poll
UK - A new survey has found that pension funds are not happy about investment consultants providing asset management services.
