Latest on Regulation & Reform – Page 469
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News
European Court makes Danish pensions judgment
DENMARK – The European Court of Justice has made an initial judgement in a case brought by the European Commission’s against Denmark on pensions tax.
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City of Westminster axes Henderson, Aberdeen
UK – The roughly £600m (€871m) City of Westminster pension fund has axed Henderson Global Investors and Aberdeen Asset Management following a scheme restructure.
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Germany mulls private equity tax - Handelsblatt
GERMANY – The German government is considering taxing the earnings of locally domiciled private equity funds, according to business daily Handelsblatt.
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Amonis cuts equities, real estate for hedge funds
BELGIUM – The €1bn Amonis pension scheme for dentists, doctors and pharmacists has reduced its exposure to equities and real estate, and ploughed roughly €34.2m into a fund of hedge funds portfolio managed by Key Asset Management.
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Finnish state fund ‘eyes 10% alternatives shift’
FINLAND – Finland’s €8.2bn State Pension Fund, Valtion Eläkerahasto or VER, is planning to allocate 10% of its assets to alternatives, according to a report.
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Watson Wyatt hires Aon’s Yakoubov
UK – Watson Wyatt Worldwide says it has hired Yakoub Yakoubov from rival Aon Consulting.
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Fidelity seeks new Swiss institutional head
SWITZERLAND – Fidelity International says it is talking to headhunters about finding a replacement for Swiss institutional investment director Raoul van der Lugt.
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NYSE-Euronext tie could hit governance - ABP
NETHERLANDS – Giant Dutch civil service pension fund ABP fears the planned merger between Euronext and the New York Stock Exchange could lead to ‘Americanisation’ of European corporate governance.
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Towers Perrin in pact with Polish consultant
POLAND - Towers Perrin HR Services has signed an alliance partnership agreement with Warsaw-based employee benefits and actuarial consultancy Trio Management.
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IASB chief rues “daft” discount rate situation
GLOBAL – International Accounting Standard Board chairman Sir David Tweedie has acknowledged the “daft” consequences of the current method of determining corporate pension liabilities.
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UK regulator consults on scheme accounts
UK - The UK’s Pensions Regulator has issued a wide-ranging discussion document reviewing the form and content of pension scheme report and accounts.
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Small Dutch funds must consolidate – Robeco
NETHERLANDS – Small Dutch pension funds need to consolidate into two or three large national schemes to stay competitive in Europe, says Robeco chief executive George Moller.
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IPE Real Estate Awards: the winners
REAL ESTATE - Pension funds’ adoption of new models for new markets paid off at the IPE Real Estate Awards last night as investors collected prizes for geographical diversification and the move into indirect investment.
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Mercer unveils one-stop-shop pensions service
UK - Mercer Human Resource Consulting has launched a one-stop-shop service in the UK that combines pension scheme management, administration, asset management and member communications for a fixed fee.
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De Geus unveils latest Pensions Bill ideas
NETHERLANDS - Although social affairs minister Aart Jan de Geus still wants the new Pensions Bill come into force as of January 1 2007, he has proposed a one-year transitional period for some aspects.
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Belgium prepares for pan-European schemes
BELGIUM – The Belgian government has reiterated its desire to become a pan-European pension fund domicile ahead of a new control law on the matter.
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Features
Challenges of running a pension fund in the Cypriot way
We are at the point where pension funds in Cyprus are trying to be move into a new era of more modern management under the European standards. It is a transition period from amateurism to more professional management of pension funds and that’s why the challenges of running such a ...
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Features
It's going to be different this time
The Markets in Financial Instruments Directive (MiFID) is expected to have some of the greatest impacts of all financial services legislation introduced in the last decade. It is scheduled for implementation on 1 November 2007 and is the successor to the 1993 Investment Service Directive, a key component of the ...
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OPF names van der Graaff as supervision official
NETHERLANDS – The OPF, the Dutch company pension fund foundation, has appointed a former government official as its new secretary for supervision and financial markets.
