Latest on Regulation & Reform – Page 475
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News
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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News
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 ...
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Features
EU action may boost funds
With the exception of Italy, Denmark and Sweden, all EU member states apply either the EET or the TEE system to pension taxation. EET means that the pension contributions are ‘exempt’, that is the contributions are deductible from the taxable income, the investment results of the fund itself are also ...
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UN scheme looks to hire chief risk officer
GLOBAL – The in-house investment management firm of the $32bn (€26.5bn) United Nations Joint Staff Pension Fund (UNJSPF) is looking to appoint a chief risk officer, and a senior investment officer to its alternative investment portfolio.
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AP4 selects ORTEC’s Pearl attribution system
SWEDEN – Swedish buffer pension fund Fjärde AP-Fonden (AP4) has selected Dutch consulting firm ORTEC’s Pearl performance attribution system.
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DekaBank sets up €222m pension CTA
GERMANY – DekaBank, the asset management arm of Germany’s state-owned savings banks (Sparkassen), has set up a contractual trust arrangement (CTA) for €222m in pension liabilities.
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Institutional money market funds set for $1trn
UK – The assets managed in institutional money market funds could reach $1trn (€827bn) in five years’ time, says Institutional Money Market Funds Association chairman Donald Aiken.
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AP2 investment chief resigns in tax probe
SWEDEN – Petter Odhnoff, chief investment officer of the SEK190.6bn (€20.5bn) Second Swedish National Pension Fund or AP2 has quit amidst allegations of tax irregularities following an audit conducted by the Swedish tax authorities.
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Allianz's Corley to chair asset management forum
EUROPE - Elizabeth Corley, chief executive of Allianz Global Investors Europe, has been appointed chairman of the Forum of European Asset Managers, FEAM.
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Bank of NY launches Poland fund firm
POLAND – The Bank of New York has launched an investment fund company in Poland to tap pension fund demand.
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Hewitt nabs Mercer Germany consulting chief
GERMANY – Hewitt Associates has hired Dieter Oppermann, the former head of Mercer’s international consulting operations in Germany.
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News
Barriers set to fall German hedge funds
GERMANY - Further barriers to hedge fund investing could be removed later this year in the coming reform to the German Investment Act, according to a law firm.
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News
Van den Brink likens PME to Harvard and Yale
NETHERLANDS - Roland van den Brink, chief investment officer at the €19bn Dutch metals industry fund PME, has likened his fund to the US university endowments Yale and Harvard.
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News
Dutch govt critical of portability directive
NETHERLANDS – Social affairs minister Aart Jan de Geus has made critical comments about the European Commission’s proposed directive on pensions portability.
