Latest on Regulation & Reform – Page 469
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Insight, Russell team up to offer LDI
UK – Insight Investments and Russell Investment Group have teamed up to offer customised liability-driven investment solutions to mid-sized UK pension funds.
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Sal. Oppenheim buys into UK hedge funds
GERMANY – Sal. Oppenheim, a German private bank, has acquired sizeable stakes in London-based hedge fund providers Attica Alternative Investments (AAI) and Integrated Asset Management (IAM). Financial details were not disclosed.
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Raise pension age to 67, says DNB president
NETHERLANDS - The government should seriously consider raising the official retirement age by two years to 67, says De Nederlandsche Bank president Nout Wellink.
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Dutch minister: don’t blame me for FTK impact
NETHERLANDS – Dutch social affairs minister Art Jan de Geus says he takes no responsibility for the impact on pension funds’ asset allocation following the new Financial Assessment Framework (nFTK).
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Mercer, Wilshire subpoenaed in US probe
GLOBAL – Mercer Investment Consulting and global advisory company Wilshire Associates have confirmed they were recently subpoenaed to provide information to the US Department of Labor’s investigation of pension consultants.
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Van Lanschot investment director Kraan dies
EUROPE – Theo Kraan, private investment director of Dutch-based Van Lanschot Bankiers, has died in an accident.
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German pension funds face Solvency II regime
GERMANY – Financial services regulator BaFin says it wants to apply parts of the Solvency II insurance regime to certain German pension funds, regardless of whether a future EU directive requires this or not.
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Swiss schemes want investment rules relaxed
SWITZERLAND – Swiss occupational pension funds want investment regulations relaxed, according to a survey by Swisscanto Asset Management.
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Norway’s Baerum tenders €73m in SRI
NORWAY – The Bærum municipality east of Oslo has tendered NOK570m (€73.5m) in socially responsible investing assets.
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DNB stress tests ‘to show funds’ improvement’
NETHERLANDS – Stress tests currently being conducted by the Dutch central bank are expected to show a “significant improvement” in Dutch pension funds’ coverage ratios, according to a new report.
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Saxony-Anhalt plans civil service pension fund
GERMANY – The eastern German state of Saxony-Anhalt plans to set up a pension fund for its civil servants from 2008, saying the move is necessary to relieve long-term pressure on its budget.
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Hymans sees shift to global equities, bonds
UK – The UK’s 50 largest fund managers saw an increased shift from UK equities to fixed income and global equities in 2005, according to an annual survey by Hymans Robertson.
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UK consultants see pension directive problem
UK – More than half of UK pension consultants see a problem with the implementation of the European pension fund directive, according to the Society of Pension Consultants.
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Finland’s FIM starts Russian asset manager
RUSSIA – Finnish investment group FIM says it plans to start a Russian asset management and mutual fund group.
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Economics committee mulls pension portability
EUROPE – Members of the European Parliament’s Committee on Economic and Monetary Affairs got their first chance to chew over the proposed directive on pension portability rights this week.
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Transaction cost analysis product launched
UK - An enhanced transaction cost analysis product aimed at UK pension funds has been launched by TradeShare.
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Germany to seek pension portability compromise
GERMANY – Pensions minister Franz Müntefering has announced that the government will seek a compromise on the EU’s proposed directive on pensions portability that is more in the interest of the country’s pensions industry.
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AP1 managers leave to form hedge fund
SWEDEN – The roughly SEK33.6bn (€3.6bn) Swedish hedge fund outfit Brummer & Partners has nabbed two asset managers from buffer fund Första AP-fonden, or AP1, to develop a new hedge fund.
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UK's Berkshire tenders €599m currency overlay
UK - The Royal Borough of Windsor and Maidenhead has tendered a £410m (€599m) currency overlay mandate for the £1.3bn Berkshire Pension Fund.
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Morgan Stanley IM names alternatives chief
GLOBAL – Morgan Stanley’s prime broker heavyweight and hedge fund specialist, Stu Bohart, has been appointed chief of alternative investments at Morgan Stanley Investment Management.
