Latest on Regulation & Reform – Page 477
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Allianz hails pension, asset management demand
EUROPE – Insurance giant Allianz has attributed continued strong demand for its pension and asset management products for a double-digit increase in earnings during 2005.
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DNB consults on pension reporting pre-FTK
NETHERLANDS – The Nederlandsche Bank, the Dutch central bank, is consulting on pension reporting ahead of the implementation of the new FTK (Financial Assessment Framework) and Pension Law.
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Call for UCITS to come under pension directive
EUROPE – Othmar Karas, the Austrian MEP who was the rapporteur for the occupational pension fund directive, has proposed bringing UCITS investment funds within the directive’s scope.
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NAPF Conference: Hitchen on flight to bonds
UK - A flight to bonds is short-term thinking, according to Chris Hitchen, chairman of the National Association of Pension Fund's investment council.
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Directive to boost German Pensionsfonds - Bosch
GERMANY – Bernhard Wiesner, head of corporate pensions at Robert Bosch, says German multinationals will favour Anglo-Saxon-style Pensionsfonds due to the EU directive on occupational pension funds.
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Akzo Nobel working under PPF on UK scheme
UK – Dutch-based chemicals and coatings firm Akzo Nobel is working under Pension Protection Fund regulations on the situation at one of its UK subsidiaries.
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STAR urges changes to new pension law
NETHERLANDS – The Dutch Labour Foundation (STAR) has written to the parliamentary social affairs committee urging that changes be made to the government’s proposed pension bill.
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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.
