Investor Strategy – Page 219
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Swiss pension funds boost alternatives - CSAM
SWITZERLAND – Swiss pension funds have raised their allocation to alternative assets to 1.8%, Credit Swiss Asset Management says.
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PGGM discontinues chief economist role
NETHERLANDS – The Dutch health care fund PGGM’s appointment of Peter Kraneveld as special adviser means that the chief economist role no longer exists at the scheme.
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ABN Amro's institutional AUM fall
EUROPE – Institutional assets under management at ABN Amro’s asset management arm have fallen to around 86.3 billion euros at the second quarter from almost 88 billion euros at the first quarter of 2004.
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Mercer’s strength offsets weak Putnam - MMC
GLOBAL – Marsh & McLennan says strength in its Mercer consulting arm and Marsh insurance unit offset weakness at asset management division Putnam in the second quarter.
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KAS Bank wins E484m Norcros custody brief
UK - Dutch custodian KAS Bank has won another global custody mandate in the UK, taking its institutional clients in the UK to 13.
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Brambles awards consulting brief to Aon
UK – The Australian-headquartered Brambles group, which provides support services globally, has chosen Aon Consulting to provide pensions and actuarial consulting services to its UK subsidiaries.
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Watson Wyatt LLP still looking for acquisitions
EUROPE – Watson Wyatt LLP, the UK-based consulting firm, says it is still looking for acquisitions - in a market where it faces “opportunities and threats”.
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T. Rowe Price hiring staff as earnings surge
GLOBAL – T. Rowe Price Group says its second-quarter net income rose 49% to 80.3 million dollars (66.52 million euros) – with staff numbers rising six percent since the start of the year.
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Czech minister seeks mandatory retirement saving
CZECH REPUBLIC - The draft pension reform plan will have to contain some form of mandatory retirement savings, according to Tomas Prouza, who was recently appointed Czech deputy finance minister with responsibility for pension reform.
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Investment Solutions picks up Minit DB brief
UK - The pension fund of shoe-repairer Minit UK has appointed multi-manager Investment Solutions to manage its 10 million-pounds (15.06 million-euro) defined benefit pension scheme.
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Mineworkers’ scheme seeks skilled trustee
UK – The 10.4 billion-pound (15.6 billion-euro) Mineworkers’ Pension Scheme is seeking to appoint a skilled trustee who will be able to debate investment strategy and assess consultant advice.
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MEPs say directive could save firms up to E40m
EUROPE – The European Parliament’s economic affairs committee says multinational companies could save up to 40 million euros by pooling pension assets under the European occupational pensions directive.
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DWP: consultants unchallenged post-Myners
UK – Trustees of occupational pension schemes in the UK are finding “barriers” to challenging their relationships with investment consultants, says a new government report on the uptake of the Myners Principles.
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Population ageing could hit euro – Commission
EUROPE – The European Commission has warned that population ageing may be one of the “asymmetric shocks” that could hit the euro.
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BP Investments' Pidcock joins Newton
UK - Newton Investment Management says it has hired Jason Pidcock, a fund manager from BP Investment Management, the firm which manages the pension assets of oil firm BP.
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Watson Wyatt to measure its own advice
UK – Consulting firm Watson Wyatt is working on measuring its own investment strategy advice, according to one of its senior consultants.
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Spanish pension fund assets rise 14%
SPAIN - The assets managed by Spanish pension funds rose more than 14% in 2003, according to the economy ministry.
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Pensions grow to 41% of asset management - report
GLOBAL - Pension fund assets have risen to 41% of the asset management industry's client assets in Benelux, France, Germany and Italy, up from 41%.
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Mellon consulting arm hires Hymans’ George
UK - Mellon Financial Corp.’s Human Resources & Investor Solutions arm has named Marian George as a senior investment consultant.
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Merchant Navy scheme CEO retires after revamp
UK - Geoffrey Henry, the chief executive of the 2.7 billion-pound (4.03 billion-euro) Merchant Navy Pensions Administration Ltd. Merchant Navy Officers Pensions Fund, MNOPF, has retired.
