Latest – Page 354
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Towers to promote Russell's multi management
UK- Consultant Towers Perrin has announced an alliance with Frank Russell under which it will promote the latter’s multi management product for its UK pension fund clients.
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Watson Wyatt hires First Quadrant's Robert Brown
UK- Consultant Watson Wyatt has appointed Robert Brown from First Quadrant as a senior consultant in its investment practice.
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Fixed income ETFs due in Europe after US launch
EUROPE/US – The New York Stock Exchange (NYSE) has issued the world’s first fixed income exchange traded funds (ETFs) but a spokeswoman for Morgan Stanley in London says foreign investors would do better to leave the four new funds alone.
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ABP & PGGM curb stock-lending to combat volatility
NETHERLANDS – Dutch pension funds ABP and PGGM, which have combined assets of almost €200bn, have announced joint action to suspend all stock-lending activity for short-selling in order to help combat market volatility.
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Italian railway workers' scheme tenders RFP
ITALY – The €26m Eurofer, the fledgling supplementary pension scheme for Italy’s state railways industry workers, has issued an RFP for managers for its assets.
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Risk is key investor concern in manager selection
EUROPE – Risk control is now the most important factor investors consider when employing external asset managers, according to the latest Invesco annual survey of European institutional investors and their markets. In sharp contrast, risk control didn’t even figure in the top six factors in 2000.
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UK MP scheme to review investment advisor
UK – The £300m (€475m) Parliamentary Contributory pension scheme, the pension fund for UK members of parliament (MPs) is reviewing its investment advisor Hewitt, Bacon & Woodrow.
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Fortune AM beefs up marketing team
UK– London-based alternative asset management group, Fortune Asset Management, has appointed Peter Arkell and John McDonald as directors within its marketing team in London.
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Number of DC schemes in Ireland surges
IRELAND- Defined contribution pension schemes remain in the ascendancy in Ireland according to the annual report from An Bord Pinsean, the pensions supervisor and regulator.
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AP2 issues equity mandates worth $5.4bn
SWEDEN – The Gothenburg-based $13.5bn (€13.6bn) second Swedish national pension fund, AP2, has issued a RFP for managers for various European, North American, Asia-Pacific ex-Japan, Japanese and global equity mandates, worth a collective $5.4bn.
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DKW raids Deutsche's securities lending team
UK/US– Dresdner Kleinwort Wasserstein (DKW) has poached four more members of Deutsche Bank’s agency securities lending team in order to build up its own new securities lending division.
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Watson Wyatt's Stockholm head leaves for Nordea
SWEDEN – Johan Sidenmark has left Watson Wyatt Worldwide’s Stockholm office nine months after joining the benefits and investment consultancy from rivals Mercer Human Resource Consulting.
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Valeiras quits Morgan Stanley for Applegate CM
UK – Morgan Stanley Investment Management in London has announced that Horacio Valeiras, head of its global core equity team, has left the company to join San Diego-based Nicholas Applegate Capital Management as chief investment officer.
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Sandler review outlines need to slash red tape
UK- A long-awaited report into the UK’s savings market has delivered a harsh verdict on an industry it says is expensive, overly-complicated and inefficient.
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State Street names UK relationship management head
UK- State Street Corporation has appointed Paul Chapman to serve as head of relationship management and strategic marketing for its UK operation.
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Bosch launches new supplementary fund
GERMANY – Stuttgart-based household appliance manufacturer Robert Bosch has launched a new supplementary pension fund for its 102,000 domestic workers. The company is awaiting regulatory approval from the German federal financial services supervisory board, BAFin.
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Parliament to hold hearing on financial regulation
EU- The European Parliament’s economic and monetary affairs committee is holding a public hearing on the supervision of financial services next Tuesday in the wake of the Enron and WorldCom collapses.
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Gartmore appoints director for UK clients
UK- Geraldine Wright is joining Gartmore as an account director for UK institutional clients, a role that sees her responsible for a number of pension fund clients. Wright will report to head of client services Elaine Gordon and will work closely with both the client service and investment management teams.
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Willis joins forces with ABN Amro and Alfred Berg
DENMARK- Benefit consultant Willis Denmark has signed an agreement with Alfred Berg and ABN Amro Asset Management in a move that gives its unit link clients access to tactical and strategic asset allocation. Willis says the agreement is designed to offer a more comprehensive and sophisticated product.
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Less than 40% of UK DB schemes remain open
UK- The predicament of generous final salary pensions may be worse than previously estimated according to new research that suggests fewer than four out of ten final salary schemes remain open to new members.
