INCLUDING: NIGERIA - Pension assets hit US$4.8bn; UK - Waltham Forest shakes up management; GLOBAL - Watson Wyatt releases its managerial performance; EUROPE - International Asset Management in CEO appointment.
NIGERIA – Pension assets hit US$4.8bn
Total assets under management in the new Nigerian pension system have risen to US$4.8bn, a spokesman for the regulator, the National Pension Commission, told Reuters.
The public-private pension scheme was started at the beginning of 2005.
UK – Waltham Forest shakes up management
The London Borough of Waltham Forest pension fund has awarded six new mandates.
The £435m fund realigned its portfolio as follows: a UK equities mandate went to Axa Framlington; a £15m global tactical asset allocation mandate went to Nordea; two property mandates worth £37m together went to DTZ and UBS; a £155m global equities mandate went to Bankinvest; and a £73m diversified fixed income mandate went to European Credit Management.
GLOBAL - All 20 of Watson Wyatt's model portfolios have outperformed their benchmarks since inception, with 19 doing so after all transition costs and fees, according to the company.
The track records of the firm's model portfolios range between five and seven years and the performance data covers mandates in most major equity and bond markets around the world.
EUROPE - International Asset Management in CEO appointment
International Asset Management Limited (IAM) has decided that as of 1 August 2007, Morten Spenner will replace Albert Fuss as IAM's CEO.
Fuss will become executive director of the business, retaining an active involvement in investment management and client relationships. The company said the decision was a strategic evolution of the business.
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.