Latest on Regulation & Reform – Page 459
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Polish reformer Góra condemns govt plans
POLAND – Marek Góra, the Warsaw School of Economics professor who was one of the architects of the Polish pension reform, has condemned the Polish government’s pre-pensions proposals, saying they would amount to a “disaster”.
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Lithuanian pension funds to merge
LITHUANIA – Invalda AB, the parent company of Finasta Investment Management, has bought Medicinos banko Investment Management.
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DNB study: Dutch funds to use more derivatives
NETHERLANDS – A paper from Dutch pension regulator De Nederlandsche Bank sees derivatives and asset liability management becoming more important for pension funds.
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Is Swiss legislation restricting diversity
In an attempt to encourage so-called ‘riskless’ investing, Swiss pension laws may be preventing funds from allocating their assets properly. Antoine Cuénod reports
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Bleak future for Taft-Hartley plans
Last May the FBI spent almost $250,000 (€197,000) digging for the remains of Teamsters leader Jimmy Hoffa, who disappeared in 1975 a few miles from Detroit, Michigan. Many members of the union that used to be led by Hoffa and is now managed by his son James would have preferred ...
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Conversion rates take a downhill path
The Swiss government’s attempt to lower conversion rates is likely to spark off increased controversy about pension returns. Peter Hunziker reports
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Surge seen in second pillar funds
Asset growth has been exceptional throughout the region, reports Krystyna Krzyzak
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Never a dull moment
Dutch pension funds have had a turbulent time getting to grips with a new law, market conditions an uncertain FTK timetable, George Coats discovers
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Longevity dulls risk appetite
Growing liabilities and the regulatory regime means pension funds are focusing more on matching assets and liabilities. George Coats reports
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Flexible course to holy grail
New regime aims to attract pan-European funds but there are concerns about increased governance rules, George Coats reports
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Hedging pays off for Danes
Danish funds are reaping the rewards from a trend away from guaranteed products, writes George Coats
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Paving way to more equities
Finnish funds are looking forward to increasing their holdings of equities when the Puro proposals are implemented. George Coats reports
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Prospect of yet another reform
Despite several reform initiatives over the past decade, a hefty budget deficit means a further attempt is inevitable, George Coats reports
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Hermes in clear; Clements runs hedge fund
GLOBAL - It’s emerged that Robert Clements, the former Hermes manager at the centre of the firm’s now resolved stock manipulation allegations in Korea, is now running an Israel-based hedge fund.
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Former ABP chief Frijns to chair Kempen
NETHERLANDS - Merchant bank Kempen & Co. has appointed Jean Frijns, the former head of investments at ABP, as chairman of the supervisory board.
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ECB suggests Maastricht-style pensions treaty
EUROPE – The European Central Bank has suggested a Maastricht Treaty-style pact to help solve Europe’s pensions problems.
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Swiss public funds underfunded, Complementa says
SWITZERLAND – Swiss public pension funds were slightly underfunded at the end of the second quarter, while private schemes remained somewhat overfunded, according to a new survey by Swiss consultant Complementa.
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New Dutch pensions act gets OK
NETHERLANDS – The Dutch House of Representatives approved the new pensions act and voted on its proposed amendments on Wednesday.
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BIS to recruit benefits manager
SWITZERLAND – The Bank for International Settlements (BIS), is looking for a new Compensation and Benefits Manager who will also have to “liaise with the Bank's actuaries for pension system evaluations and changes”, according to the job description.
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Big Swiss funds closer to DC switch
SWITZERLAND – Two major Swiss pension funds, the Publica fund for federal workers and the SBB rail scheme, are now closer to switching to defined contribution.
