Latest on Regulation & Reform – Page 472
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News
ABP is considering opening an Asian office
NETHERLANDS – Stichting Pensioenfonds ABP, Europe’s largest pension fund, is considering opening an office in Asia.
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OECD releases pension investment survey
GLOBAL – The Organisation for Economic Cooperation and Development has released its latest survey of global pension fund investment regulations.
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No data on longevity impact on yields – study
GLOBAL – There’s no quantitative data on the impact of pension fund buying and longevity changes on bond yields, according to a new study.
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Pension funds buy into Clariant bond issue
SWITZERLAND – A significant amount of pension fund money went into Swiss chemical firm Clariant’s new UK-listed seven-year €600m Eurobond.
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Bulgaria plans first-pillar ‘Silver Fund’
BULGARIA – The Bulgarian government is preparing a law to introduce a “Silver Fund” to bolster first-pillar pensions.
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Pensions conference glut claims first victim
EUROPE – An unusual convergence of pensions and investment industry conferences on Tuesday April 25 has claimed its first victim: Credit Suisse.
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Cambridge council tenders pension fund custody
UK – Cambridge County Council has tendered a global custody mandate for its pension fund via consulting firm Thomas Murray.
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Institutions pull €3bn from Robeco
NETHERLANDS – Robeco, the asset management arm of Dutch bank Rabobank, had a €3bn outflow of institutional assets in 2005.
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NAPF worried about NPSS ‘fourth pillar’
UK – The National Association of Pension Funds has expressed its fears about the proposed National Pensions Savings Scheme becoming an unnecessary “fourth pillar”.
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ABP setting 2007 investment plan
NETHERLANDS – Stichting Pensioenfonds ABP, Europe’s largest pension fund, is currently in the process of establishing its new strategic investment plan to run from 2007 to 2009.
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Cambridge hires ex-State Streeter for hedge funds
US – Consulting firm Cambridge Associates has former State Street’s Charles Cassidy to the new role of director of operational due diligence for its hedge fund group.
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New pension risk blog set up
GLOBAL – A new online blog aimed at pension financial risk and fiduciary implications has been launched.
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Ex-Mercer chief joins BT scheme as trustee
UK – The £35bn (€50.2bn) BT Pension Scheme has appointed former Mercer Human Resource Consulting chief executive David Barford and former Prudential Group finance director Les Cullen as trustees to the fund.
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Swedish watchdog wants more provider flexibility
SWEDEN - The Swedish Financial Supervisory Authority Finansinspektionen has called for all private pension savers in Sweden to have the right to move their pension savings between pension providers.
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TKP Investments names van Wijk as CIO
NETHERLANDS – TKP Investments has named SNS Asset Management research chief Roelie van Wijk as chief executive, chief investment officer and president of the investment board.
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Pension funds hit as Swedish fund firm rapped
SWEDEN – The Swedish Financial Supervisory Authority Finansinspektionen today issued a warning to the SEK5.8bn (€616m) fund management firm Erik Penser Fonder relating to two of its guaranteed funds, which could affect pension fund investors.
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Central banks need to monitor ageing – ECB
EUROPE – The European Central Bank says central bankers will increasingly need to monitor the impact of demographic ageing on the wider economy and markets.
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Norgrove rejects pension-bond yield ‘bubble’
UK – David Norgrove, the chairman of the Pensions Regulator, has rejected the idea that there is a bubble in gilts caused by pension fund demand.
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ABN Amro AM considers “bolt-on” acquisitions
GLOBAL – ABN Amro says it will consider “bolt-on” asset management acquisitions.
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Features
Portability plan in limbo
Despite the commission’s prevailing optimism that last-minute tweaks would have saved its pensions portability proposal from sinking beneath a quagmire of inter-governmental wrangling, those that are now handling the dossier say that it is looking decidedly more troublesome than they first allowed for. For one thing, Austria, which currently has ...
