Latest on Regulation & Reform – Page 471
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MEPs adopt asset management report
EUROPE – The European Parliament today adopted the Klinz report on asset management by a “clear majority”.
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Big European funds back UN investment principles
EUROPE – Some of Europe’s largest pension funds have signed up to the United Nations’ new set of six responsible investment principles.
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Hermes writes to VW on corporate governance
GERMANY – Hermes, the asset manager owned by the BT Pension Scheme, has written to German carmaker Volkswagen seeking an investigation over its corporate governance practices.
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Julius Baer asset management chief von Ah quits
SWITZERLAND – Swiss private bank Julius Baer has announced that Roman von Ah, head of asset management for continental Europe, is stepping down as of April 28.
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Latest “Blue Book” UK reference guide published
UK – The latest edition of ‘Pensions Funds and their Advisers’ – the “Blue Book” - has been published by AP Information Services in association with the National Association of Pension Funds.
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Pension fund FX trading surges – Greenwich
GLOBAL – Pension fund and asset manager activity in the global foreign exchange market grew 48% last year according to consulting firm Greenwich Associates.
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Call for streamlined Dutch pension supervision
NETHERLANDS – A Dutch MP has called for the dual supervision of the pensions industry – by the central bank and the AFM market authority – to be scrapped.
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Pension portability directive “problematic”
EUROPE – The EU’s proposed directive on the portability of supplementary pension rights is “very problematic” due to issues about tax and supervision, according to the European Parliament’s ‘rapporteur’ for the measure.
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Norway, Iceland missed out of pension directive
EUROPE – The European Economic Area states of Norway, Iceland and Lichtenstein have seemingly been left out in the cold regarding the adoption of the European occupational pension funds directive.
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Austria: asset management degree offered
AUSTRIA – An advanced technical college in Vienna is offering a new master of science degree for quantitative asset management from this autumn.
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German unions want mandatory corporate pension
GERMANY – The German Union Federation (DGB) has urged the government to make it compulsory for employers to offer corporate pensions to their employees.
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Slovenia pension manager KAD reports profit
SLOVENIA – The supervisory board of the state-run €1.18bn Pension Fund Management, or Kapitalska Druzba (KAD), has reported a SIT15bn (€62m) net profit result for 2005.
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EU raps 11 member states over pension directive
EUROPE – The European Commission has ratcheted up the pressure on 11 member states it says have not fully implemented the occupational pension funds directive.
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ABP data used in analysis of equity trade costs
NETHERLANDS – A paper prepared by staff at the Dutch central bank and civil service pension fund ABP has found that a small number of trades causes most market impact.
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CalSTRS, CalPERS build new manager database
US – US pension fund giants CalSTRS and CalPERS are putting together a database of emergent asset management companies in a bid to gain access to “untapped talent”.
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Heissmann taps Hewitt’s Royers for Paris office
FRANCE – International consultant Buck Heissmann has recruited Joel Royers from rival Hewitt to head its new office in Paris.
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IMF sees bird flu impact on pension regulators
GLOBAL – The International Monetary Fund says pension industry regulators may have to swing into action in the event of a pandemic of avian flu.
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Dutch, UK chiefs quit ABN Amro Asset Management
EUROPE – Two high-level Netherlands and UK executives, Marc Verberne and Dermot Keegan, have quit ABN Amro Asset Management to join rivals.
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Germany’s BVV eyes real estate, private equity
GERMANY – BVV, a €17.7bn pension fund serving Germany’s financial services industry, plans to raise its exposure to real estate to at most 8% over the long-term and is mulling an initial investment in private equity.
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German MPs call for civil service pension fund
GERMANY – The budget committee of Germany’s parliament (Bundestag) has urged the government to create a pension fund for federal civil servants instead of, as now, financing their pensions via tax reserves.
