Investor Strategy – Page 225
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Watson Wyatt pursuing “strategic acquisitions”
GLOBAL – The chief executive of Watson Wyatt & Co. has said the company is pursuing “strategic acquisitions” as part of its growth strategy.
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Pickering: trustees have 'outlived their usefulness'
EUROPE – The chairman of the European Federation for Retirement Provision, Alan Pickering, has called into question the 'Anglo-Saxon' system of trustees, saying trustees have “outlived their usefulness”.
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IAPF chief worried about DC awareness
IRELAND – The Irish Association of Pension Funds says it is concerned about the lack of awareness among members of defined contribution pension schemes.
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M&G sees increased allocation to fixed income
UK – M&G won 1.4 billion pounds (2.1 billion euros) in fixed income mandates from institutional business, driven by increased asset allocation by pension funds.
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Watson Wyatt names Ramamurthy as European head
EUROPE – Babloo Ramamurthy is to take over as managing partner of Watson Wyatt LLP from Alan Whalley, who is to become US regional manager of Watson Wyatt & Co.
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SEI names sales director for Germany
GERMANY - Asset manager SEI has named Nadine Fugert as sales director for Germany, to be based in Munich.
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Bulgaria raises 2nd-pillar contributions
BULGARIA – The Bulgarian government says it has raised the share of social security contributions to second-pillar to three percent.
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T. Rowe Price European assets rise to E3.4bn
EUROPE – US-based asset manager T. Rowe Price says its assets under management in Europe have risen to 4.4 billion dollars (3.4 billion euros) at the end of 2003.
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Philips pension fund moves away from equities
NETHERLANDS - The 12.5 billion-euro Dutch pension fund of electronics company Philips is targeting an allocation of 38% equities in 2004 - down from 46% in 2002.
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IPE Awards to be held in Zurich in November
EUROPE - IPE has announced the IPE Awards 2004 will be held in Switzerland at Zurich’s Kongresshaus on November 30.
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CIOs see 32% rise in hedge fund assets
EUROPE – The chief investment officers at European and US investment managers expect a 32% rise in hedge fund assets under management in the next year, according to a new survey.
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Covip satisfied with new regulatory proposals
ITALY – Pension regulator Covip has expressed satisfaction with the government’s new plan to set up an authority for the protection of savers and investors that, contrary to previous hints, will not see Covip submerged.
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State Street sees “work to do” in Europe on GSS
EUROPE – State Street says it still has “work to do” on integrating the Global Securities Services business it bought a year ago – but insisted the integration was going well.
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Henderson, UBS under scrutiny as Warwick revamps
UK - Warwickshire County Council‘s 660 million-pound (966 million-euro) pension scheme is restructuring - looking for new asset managers and a single global custodian.
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UK's Lincoln awards global custody to J P Morgan
UK - The 650 million-pound (952.1 billion-euro) pension fund of Lincolnshire County Council has awarded a global custody mandate to J P Morgan Investor Services.
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Netherlands: Hermes hires ex-SPF CEO de Koning
NETHERLANDS - London-based pension fund manager Hermes has hired former Dutch railway pension fund executive Peter de Koning.
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Standard Life Investments names acting CEO
UK – Standard Life Investments has named its chief investment officer Keith Skeoch as acting chief executive following Sandy Crombie’s appointment as CEO of the parent company.
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ABP explains reasons for sticking to asset mix
NETHERLANDS – A top manager at the Dutch civil service pension fund ABP has expanded on the reasons why the 150 billion-euro fund has stuck with its long-term asset allocation.
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Wolters Kluwer pension director van Schie retires
NETHERLANDS – Cees van Schie has retired as director of the 500 million-euro Dutch pension fund of publishing firm Wolters Kluwer.
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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)
