Latest on Regulation & Reform – Page 475
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UK actuaries want permanent Pension Commission
UK – UK actuaries have become the latest group to call for a permanent Pensions Commission.
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Vanguard launches $10bn pension pooling fund
IRELAND – Vanguard Investments has launched an Ireland-based pension pooling fund with more than $10bn (€8.4bn) of assets.
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Fortis buys Caribbean-based hedge fund firm
GLOBAL – Fortis Prime Fund Solutions, the fund-servicing arm of Fortis Merchant Banking, has acquired Hedge Fund Services (HFS) for an undisclosed amount.
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Belgian pension industry ‘facing destruction’
BELGIUM – Increasing regulatory requirements could destroy the smaller Belgian pension fund industry, according to a consultant at Hewitt Associates.
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IPE-QUEST: Four new searches on system
GLOBAL – There are four new searches - for global fixed income, enhanced equities, euro zone bonds and Russian equities - on IPE-Quest.
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Dutch social council in first-pillar refusal
NETHERLANDS – SER, the Social and Economic Council of the Netherlands - the main advising council to the Dutch government – is refusing greater flexibility in the AOW, the first-pillar pension.
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DeAM's Harrison named MPC Investors’ CEO
UK – Peter Harrison, former Deutsche Asset Management global chief investment officer, has been appointed chief executive of MPC Investors and member of the board.
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PGGM’s Noordzij to get €500k severance deal
NETHERLANDS – Karel Noordzij, who unexpectedly quit as chairman at €71bn Dutch health care fund PGGM today, will get a severance package worth more than €500,000.
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AP7 puts hedge funds on watch
SWEDEN – Sjunde AP-fonden, the roughly SEK66bn (€7bn) Seventh Swedish Pension Fund or AP7, has put its only two fund of hedge fund mandates on a watch list due to underperformance and administrative issues.
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PWC nabs Hewitt’s Mody
UK - PricewaterhouseCoopers has hired Hewitt Associates’ Raj Mody for its UK pensions practice.
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Pension funds in low-yield feedback effect – BIS
GLOBAL – A pension fund “feedback effect” could be behind the current puzzling low long-term yield situation says the Bank for International Settlements.
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No initiative on scheme takeovers – UK regulator
UK – There’s no specific initiative to allow investment banks, asset managers or hedge funds to take over pension schemes of financially challenged firms, the Pension Regulator says.
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Institutions ‘should beware commodity indices’
SPAIN - Institutional investors were put into the dock on their approach to commodities indices, at the World Cup of Indexing Conference.
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Dutch regulators are pension “cannibals”
NETHERLANDS – Dutch pension regulators are the “cannibals” of pension funds, making it difficult for schemes to survive, according to a senior figure at Delta Lloyd.
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BGI introduces Sudan divestment strategies
US - Barclays Global Investors has launched index strategies to help US pension funds to comply with new rules requiring them to divest of companies with ties to Sudan.
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Hewitt opens human resources centre in Poland
POLAND – Hewitt Associates has announced the opening of a 300-person human resources outsourcing centre in Krakow, Poland.
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RBC Dexia tops R&M custody survey
EUROPE - RBC Dexia Services has topped the latest poll of custody providers organised by R&M Consultants.
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UK mulls SRI for national pensions scheme
UK – The UK government is considering putting long-term socially responsible investing (SRI) at the heart of the proposed National Pensions Savings Scheme, an official has said.
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‘Major weaknesses’ in Belgian pension oversight
BELGIUM – “Major weaknesses” in the supervision of pension funds in Belgium have been identified by the International Monetary Fund.
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Big German schemes to avoid new linkers
GERMANY – BVV, Germany’s largest Pensionskasse or traditional pension fund, has no immediate plans to buy the new inflation-linked bonds to be issued by the German government from next week.
