Horlick sees future in film, land deals
LONDON, March 15 (Reuters) – Two and-a-half months into the
year and funds doyenne Nicola Horlick is already feeling tired
– worn out from juggling the demands of film production, a
Brazilian farmland buy and launching a chain of members clubs.
“It (2011) is going to be extremely busy, I feel exhausted
already,” says Horlick, the chief executive and founder of
Mayfair-based investment house Bramdean Asset Management.
Morning Line-Up: pension poverty, BNY currency trade, hedge funds, Kazakhstan sukuk
News and views on the asset management industry from Reuters and elsewhere:
BNY currency trading dispute with LA pension fund – WSJ
If the Hutton report hath offended
The heat is on! Lord Hutton, the author of the report tackling reforms of the UK public pension system has been grilled by the representatives of the whole British media; TV, radio, Reuters, and no doubt he is making a case with newspapers and magazines too. The question on everybody lips is: what’s the damage? What’s the bill?
The scale of the comment to the report has been sensational, my mail-box has been hit with comments from the CBI (the bosses association), the ABI (the insurers association), the NAPF (the pension fund association), Labour, a countless number of pension consultancies, not to mention the trade unions, some of which are on the war path.
UK signals end to final salary public pensions
LONDON, March 10 (Reuters) – Public sector pensions in
Britain will be delinked from final salaries, a review
recommended, contributing estimated savings of 8 billion pounds
to government efforts to eliminate a record budget deficit.
The review, published on Thursday and expected to be broadly
adopted by the Conservative-Liberal Democrat coalition by 2015,
is likely to prompt a wave of industrial action, unions warned.
Hutton recommends pensions overhaul
LONDON (Reuters) – A review of British public sector pensions on Thursday recommended less generous terms, which it says will favour workers on low-pay, and called for the end of retirement before 60 years of age.
The report by the Independent Public Service Pensions Commission, led by former cabinet minister John Hutton, is expected to be broadly adopted by the government and prompt a wave of industrial action by unions.
Ex Labour minister recommends UK pensions overhaul
LONDON, March 10 (Reuters) – A review of British public
sector pensions on Thursday recommended less generous terms,
which it says will favour workers on low-pay, and called for the
end of retirement before 60 years of age.
The report by the Independent Public Service Pensions
Commission, led by former cabinet minister John Hutton, is
expected to be broadly adopted by the government and prompt a
wave of industrial action by unions.
RCM sees inflation shield in commodities
LONDON (Reuters) – Equity manager RCM plans to increase its range of commodity-focused funds as investors look to rising raw material prices as a means to protect their wealth against high inflation, its investment chief said.
Andreas Utermann, who is responsible for global strategy at the Allianz Global Investors (ALVG.DE: Quote, Profile, Research) unit, sees rising inflation and continued strong economic growth in emerging markets as dominant themes for 2011.
UK pension reform could spark wave of strikes
LONDON, March 9 (Reuters) – A review of public sector
pensions will on Thursday propose ways to save Britain several
billions of pounds a year but could trigger strikes across a
sector already facing pay freezes and hefty job losses.
On Thursday the Independent Public Service Pensions
Commission, led by ex-Labour minister John Hutton, is expected
to suggest the UK should stop paying final salary pensions to
public employees such as nurses, doctors and teachers.
Charlemagne profit rise defies fleeing funds
LONDON, March 4 (Reuters) – Emerging markets equity manager
Charlemagne Capital Ltd (CHAR.L: Quote, Profile, Research, Stock Buzz) saw pretax profit jump 51
percent in 2010 as growth in high-margin business including
hedge funds helped offset net withdrawals.
The group posted net outflows of $64 million as investors
moved money to developed economies because of mounting concerns
about the sustainability of growth in some emerging markets.
Allianz IM unit eyes China for pensions growth-CEO
LONDON, Feb 28 (Reuters) – Allianz Global Investment (AGI),
the funds arm of one of Europe’s largest insurers, see growth
opportunities in China’s burgeoning pensions market, where
ageing residents are battling to fund their retirements.
Chief Executive Joachim Faber said the budding industry for
Chinese voluntary corporate pensions, known as enterprise
annuities, was a market to watch.
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