INCLUDING: GLOBAL - Northern Trust CIO appointment; UK - SEI wins three DB mandates; UK - Watson Wyatt shows the way to change; ASIA -New Asian fund of funds; UK - Drive for Hewitt; UK - Deregulation debate; UK- Barnett Waddingham hire
GLOBAL – Northern Trust CIO appointment
Northern Trust Global Investments Limited (NTGI) has appointed Wayne Bowers as its chief investment officer. A newly created position, Bowers will have responsibility for NTGI’s active equity management, active fixed income management and quantitative management investment teams in London and Tokyo.
He will also be responsible for ensuring consistent investment process and performance across Europe, Middle-East, Africa (EMEA) and Asia-Pacific (APAC).
UK – SEI wins three DB mandates
It means Perenco UK Pension Trustee Ltd, the pension fund for Perenco, the oil and natural gas producer, has awarded a £20m multi asset mandate to the asset management company.
SEI was also awarded a £9m global equity mandate from Nynas UK Pension Scheme and a £1.2m multi asset mandate from DeLaval Limited.
Nynas is an oil firm, and DeLaval Limited produces milking equipment.
UK – Watson Wyatt shows the way to change
Watson Wyatt has published a checklist of factors that companies need to take into account when considering making changes to pension schemes in light of the government’s Pensions Act 2005.
These recommendations include advice on the establishment of a change framework, consultation planning, employee consultation and the implementation of changes to the scheme.
ASIA – New Asian fund of funds
Aberdeen Property Investors has launched a new fund of funds to invest in the Asian property market, called AIPP Asia Select. Incorporating commitments from 15 institutional investors in seven countries such as the Netherlands and Switzerland, the fund has been selected to provide an annual internal rate of return of 13-17% net, including, upon stabilisation, an annual distribution of 4%.
UK – Drive for Hewitt
Trustees have appointed Hewitt Associates, to provide full actuarial and investment services for three pension plans operated by Goodyear Dunlop Tyres UK Limited.
The plans, the Dunlop Tyres General Pension Scheme, the Goodyear Hourly Paid Pension Plan and the Goodyear Staff Pension Plan have aggregate assets of over £500m and have around 15,000 members.
UK – Deregulation debate
The National Association of Pension Funds (NAPF) will hold a deregulation seminar to debate the proposals outlined in the government’s recently published ‘Deregulatory Review of Private Pensions’ document.
The debate will take place on 19 September from 9.30 to 2pm at the NAPF’s offices in Tothill Street, Westminster.
UK- Barnett Waddingham hire
Barnett Waddingham LLP has announced the appointment of Keith Satchell as chairman of the management board. As the CEO of Friend Provident, Mr Satchell was responsible for the firm’s flotation in 2001. He has joined Barnett Waddingham after working for a variety of senior financial and governmental consultancy positions.
Kim Gubler says it is time that schemes and administrators reassess SLAs and look at what real people need from their pension schemes and when
The Pensions Regulator (TPR) is focusing on reducing the number of "poorly-run" schemes as it seeks to improve standards across the board.
Prudential Retirement has completed around $2.6bn (£2bn) of reinsurance contracts for UK pension scheme longevity risk since the start of the year, it has disclosed.
Funding standards for DB schemes have increased exponentially over the past decades. Con Keating says such significant overstatement of liabilities will lead to pushback through the courts.