Investor Strategy – Page 220
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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.
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Railpen names Johnson as finance director
UK - The 14 billion-pound (20.8 billion-euro) Railways Pension Trustee Co. has appointed Frank Johnson as finance director following the retirement of Malcolm Gray.
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UK coal scheme aligns with BTPS on governance
UK – The 10 billion-pound (14.9 billion-euro) British Coal Staff Superannuation Scheme has aligned with the BT Pension Scheme on governance issues, with an outsourcing deal with Hermes.
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France’s FRR awards transition management brief
FRANCE – The French reserve fund, the Fonds de réserve pour les retraites, has awarded a transition management mandate to Goldman Sachs International for three years.
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BIS sees “disruptive” cuts in pensions benefits
GLOBAL – The Bank for International Settlements has raised the spectre of potentially “disruptive” cuts in retirement benefits in the industrialised world.
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PGGM gives Aegon its largest-ever win with €1bn
NETHERLANDS – The €55bn PGGM pension fund has given Aegon The Netherlands a €1bn mandate for European government bonds, its largest-ever win and a sign of a change within the investment management style of large pension funds.
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Finatem picks up Hennings and deal flow from DZ
Germany- German mid-market private equity firm Finatem has appointed Robert Hennigs as partner and managing director of the firm’s second portfolio, which has recently has its first closing with commitments of €74m.
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Gyllenhammer calls for portable pensions in Europe
EUROPE - Pehr Gyllenhammer, the chairman of the European Financial Services Round Table (EFR) of leading product providers and Aviva, has said pensions is one of the three the“ key areas” on which the European Commission should concentrate to bring about a single market.
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Epic hires Hermes' White
UK – Epic Investment Consulting, a pension fund trustee advisory company, has made snapped up Adrian White from Hermes and John Siska for its panel and asked the regulator to crack down on unauthorised independent advisers.
