Investor Strategy – Page 233
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News
Railpen hires ex-ISIS director Watts
UK - Railpen Investments, the investment arm of the UK Railways Pension Trustee Co., has hired Polly Watts, a former director of institutional funds at ISIS Asset Management.
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Watson Wyatt Co. reveals “billing irregularities”
US – The US arm of pension consulting firm Watson Wyatt has postponed its fourth-quarter earnings report after disclosing “billing irregularities”.
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Hedge fund assets now almost $665bn – report
GLOBAL – Hedge fund assets are now almost 665 billion dollars, a record, according to Hedge Fund Research.
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Sweden’s SEB posts E287bn profit as AUM rises
SWEDEN – SEB Group has announced net profit of 2.64 billion Swedish crowns (287 million euros), and an increase in assets under management for its fund units.
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BAA scheme in partial shift to enhanced indexing
UK – The pension scheme of international airports group, BAA, has moved some of its portfolio out of a passive strategy into an enhanced index strategy.
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SEI expands its institutional team
UK – SEI Investments has expanded its institutional team with the creation of three new roles, including a new appointment.
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Institutions lift German spezialfonds investment
GERMANY – Institutional investment into German spezialfonds increased in the second quarter of 2003, according to new statistics from the BVI Bundesverband Investment and Asset Management.
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ISIS dismisses "arbitrary benchmarks"
UK - The chief investment officer at ISIS Asset Management wants the investment industry to rethink its views on benchmarking to an index.
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SWIP hires again from Edinburgh Fund Managers
UK – Beleaguered Scottish fund manager Edinburgh Fund Managers has lost another of its UK equity team to rival Scottish Widows Investment Partnership.
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Foreign firms top Austrian fund of funds market
AUSTRIA – Foreign providers of funds of funds have increased their share of the Austrian market, with US houses now dominant.
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Mercer offers “alpha transport” derivatives idea
EUROPE – Mercer Investment Consulting is offering a new concept for pension fund managers that involves the use of derivatives in constructing portfolios of independent alpha and beta sources.
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Insight in swoop for Axa Rosenberg’s Millar
UK – Axa Rosenberg Investment Management’s UK and Ireland institutional marketing director, Stephen Millar, has surprised his employers by moving to Insight Investment.
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State Street’s research chief Persaud leaves
UK – Avinash Persaud, high-profile head of global research at State Street Corp., has left the company to run a currency investment fund.
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Pickering advises against personal pensions
EUROPE – The chairman of the European Federation for Retirement Provision, Alan Pickering, says he would not advise a young person in the UK to put money into a personal pension.
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WM chief gets expanded role at State Street
UK – State Street has appointed the head of its performance-measuring arm WM Co., Peter Adams, as the London head of its UK pensions servicing team.
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MLIM loses UK equity manager Thompson
UK – Merrill Lynch Investment Managers has lost three of its UK equity specialist team including UK equity manager, Steve Thompson.
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Water scheme awards SSGA passive mandate
UK – The 300 million-pound (426.7 million euro) Water Companies Pension Scheme has appointed State Street Global Advisors to manage over two-thirds of its assets.
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Study says derivatives can help pension crisis
GLOBAL – A new academic study says options can be used to make defined benefit pension schemes more sustainable.
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Higham Black Mountain names senior actuary
UK – Higham Black Mountain is expanding its pension administration and consultancy services with the addition of Paul Jayson.
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Institute blasts failure of German Riester reform
GERMANY – “The Riester reform has failed” and “Germans must save more” – this is the message from the German Institute for Retirement Provision.
