Latest – Page 342
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Watson Wyatt sees international boost
US – Watson Wyatt & Co. says it expects revenues from its international operations to rise by around 10% in 2003.
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UK’s Greenwich Council awards five mandates
UK – Greenwich Council’s 450 million pound pension fund has dished out five new mandates following a change of strategy, and a loss for Schroders Investment Management.
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Northern Trust hires Martin Currie’s Sagraves
UK – Northern Trust Global Investments has hired Barry Sagraves from Martin Currie to head its European investment business.
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KAS wins Gerling UK custody business
UK – Credit finance provider Gerling NCM’s UK Pension Scheme has appointed KAS Bank as custodian following a move out of pooled funds into segregated funds.
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SWIP hires ex-RSA global funds head
UK - Scottish Widows Investment Partnership has hired former Royal & Sun Alliance global funds head Tim Scholefield as head of international research and global sectors.
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European boost for Aon consulting revenue
EUROPE – Aon says its consulting revenue in the first quarter was boosted by good growth in Europe and the UK.
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Mercer says ALM is a tool, not a solution
GLOBAL – The head of Mercer Investment Consulting’s global practice says it is important to remember that asset/liability modelling is a tool for decision makers – not a process which produces the answer.
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UK-US treaty “significant” for pension funds
UK – A new treaty between the UK and US on double taxation has been hailed as a “significant development” for pension funds by HSBC’s actuarial arm.
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Deutsche says DeAM restructuring is now over
GERMANY – Deutsche Bank says the restructuring of its asset management business is now over.
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Stoxx slams new FTSE
SWITZERLAND – The head of index provider Dow Jones Stoxx says the new FTSE-Euronext pan-European index series is a “copy” of the DJ Stoxx 50 – and that many institutions won’t shift index providers in the current market.
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Irish reserve fund to move into new asset classes
IRELAND - The commissioners responsible for the investment strategy of Ireland’s eight billion euro National Reserve Pension Fund have decided about exposure to additional asset classes apart from equities and bonds.
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ISIS sees asset management consolidation
EUROPE – “Active managers are competing for a smaller share of the pot”, but specialists and large managers will be the winners, says ISIS’s chief executive, Howard Carter.
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Strathclyde in E1.52bn bond, equity tender
UK – The five billion pound Strathclyde pension fund has put out two tenders of up to 1.05 billion pounds (1.52 billion euros) following an asset liability study.
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DeAM plans new activist shareholder stance
GERMANY - Deutsche Asset Management says it plans to take an activist approach to the running of companies in which it owns significant holdings.
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Mercer retirement consulting revenues rise 11%
US – Mercer Inc. has reported that its first-quarter retirement services consulting revenue rose 11% to 300 million dollars from 270 million dollars a year before.
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Swedish DB premiums “too high” for older workers
SWEDEN – The Organisation for Economic Cooperation and Development says premiums for defined benefit pensions in Sweden are too high for older workers - making companies reluctant to employ them.
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Pension funds targeted with new SLAM fund
UK – Swiss Life Asset Management UK is targeting pension funds wishing to gain global exposure to equity markets outside the UK with the launch of a new fund.
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Research shows European allocation to private equity ‘too low’
UK - Research showing that asset allocation to private equity of nearly 20% for a pension portfolio that 50% invested in equities is an ‘efficient’ figure has been issued by Standard Life Investments (SLI).
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UK pension tax proposals to cost “e1.44bn”
UK – The government’s proposals on simplifying the taxation of pensions could cost the industry as a whole up to one billion pounds (1.44 billion euros) in the short term, a consultant says.
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Top staff leave as e628m Dutch fund closes
NETHERLANDS – Senior staff at Rijswijk-based building group HBG’s pension fund will next month leave for new jobs in the Dutch pensions industry.
