Latest on Regulation & Reform – Page 439
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€221bn Norwegian fund keeps on gambling
NORWAY – The NOK1.8trn (€221bn) Norwegian government pension fund has come under fire again for its investments – this time over gambling.
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Butchers asked to chop property portfolio
NETHERLANDS – The Dutch €1.1bn industrywide butchers’ pension fund has clashed with pension regulator De Nederlandsche Bank (DNB) over demands to cut the scheme’s real estate holdings.
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WHO warns on copycat pension systems
GLOBAL - The World Health Organization (WHO) has stated that developing countries should not copy pension systems currently available in the West.
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UK protection fund to create SRI policy
UK – The UK’s £305m (€446.3m) Pension Protection Fund is seeking a consultant to help it create a policy on socially responsible investing.
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Brown comes out fighting on pensions
UK – Chancellor Gordon Brown came out fighting in a debate over his handling of occupational pensions yesterday.
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Belgian association bewildered by DNB comments
BELGIUM – The head of the Belgian pension fund association has responded with bewilderment to comments yesterday by the Dutch central bank warning funds about the dangers of going across the border to their neighbour.
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Aon survey casts doubt on pension buyouts
UK – Only up to 10% of UK companies are candidates for a buyout solution for their pension scheme within the next three years, according to a survey from Aon Consulting.
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Regulators probe Dutch institutional real estate
NETHERLANDS – Dutch regulators are probing institutional investors’ real estate investment activities to detect corruption.
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UK’s Brown faces pensions vote
UK – Chancellor Gordon Brown was tonight facing a rare vote of confidence in the House of Commons about his pensions policy.
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Dutch VB writes SRI manual
NETHERLANDS – The VB, the Dutch Association of Industry-Wide Pension Funds, has drafted a social responsible investments (SRI) manual to help pension funds inject more transparency into their investments.
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Sweden to boost employment of “older” workers
SWEDEN – Sweden plans to scrap the special employer’s contribution for all workers to encourage the employment of older people.
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Greece sets new pension governance rules
GREECE – Following the recent scandal about pension funds’ bond purchases the Greek government has issued new rules on selections of board members for state-controlled funds.
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Swiss pension association makes bold proposals
SWITZERLAND – Swiss pension fund association ASIP has made the novel proposal of abolishing the current rate of conversion for occupational pension benefits and instead calculating those benefits according to life expectancy.
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DNB warns funds about going to Belgium
NETHERLANDS – The Dutch central bank has warned pension funds about moving to neighbouring Belgium, saying they could be faced with disappointing results.
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Link manager pay to data skills – study
GLOBAL – A new academic study has suggested that investment managers’ pay should be tied to their skills in using information.
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Norwegian state fund to raise equity exposure
NORWAY – Changes to the investment rules of the Norwegian Government Pension Fund announced today will see the fund’s equity exposure rise from 40% to 60%.
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Horeca’s new admin system still not functional
NETHERLANDS – PH&C, the €2bn pension fund for the Horeca Dutch hotel and catering sector, says its administrative arrangement with the Dutch Tax Department and Employees’ Insurance Institute (UWV) is still not functioning.
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Norwegian state fund drops gold mine firm
NORWAY – A South African gold mining company has been dropped from the portfolio of the NOK1.8trn (€221bn) Norwegian Government Pension Fund – Global for environmental reasons.
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European institutions win €263m from Shell
EUROPE – European institutional investors led by the two largest Dutch pension funds have won a landmark securities claim from Shell relating to the oil giant’s 2004 reserves misreporting scandal.
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Switzerland’s ASIP names new president
SWITZERLAND – The management board of Swiss pension fund lobby group ASIP has nominated Christoph Ryter to succeed current president Hans Ender.
