Latest on Regulation & Reform – Page 478
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News
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.
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Actuaries ‘lack enthusiasm’ for longevity bonds
UK – Actuaries have expressed scepticism about the potential for the longevity bonds market to take off.
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Features
Among the EU's 'bad' citizens
The IORP directive, while calling for more transparency in pension matters, could hardly be regarded as an example of transparency itself. Clarity and transparency are indeed probably the most missed items in the directive. Therefore, the correct transposition into national laws is not always a foregone conclusions. The directive should ...
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Features
Shareholders become active
Ever since the financial scandals of Enron and WorldCom that rocked the US, and more recently Parmalat in Europe, there has been a growing awareness among fund managers that they should be more actively involved in the running of the companies that they invest in. On 10 January, the European ...
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Features
For your Euro watch-list
In Brussels-speak, a directive is a decision by the EU. It has to be implemented in national law. The Institutions of Retirement Provision (IORP) directive creates pan-European pension funds. It should have been implemented on 23 September 2005, but towards the end of 2005, less than half of the EU ...
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Going their own way
While governments across Europe are pulling out all the stops to ensure working people are making enough provision for retirement, the dominant forms of non-state pension schemes vary from country to country. Besides corporate schemes and industry-wide schemes, professional schemes perform a vital role on the pensions stage, even though ...
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Enhanced indexers ‘still gaining assets’
SPAIN - Enhanced indexing managers are continuing to attract assets, the World Cup of Investment Management conference has been told.
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Dutch levensloop arrangement ‘struggling’
NETHERLANDS - The implementation of the Levensloop, or ‘life course’, the substitute for pre-pension arrangements, is not living up to expectations, according to a new report.
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Xerox scheme taps PIMCO for LDI
UK – The roughly £1.3bn (€1.9bn) Xerox UK Final Salary Pension Scheme has awarded a £260m “cutting edge” liability-driven mandate to fixed income fund management firm, PIMCO.
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Dutch VB sees drop in premium revenues
NETHERLANDS – There will be a roughly 3% or €500m drop overall in premium revenues of Dutch industry-wide pension funds in 2006, according to the VB, the Dutch Association of Industry-wide Pension Funds.
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CEIOPS approves pensions supervisory protocol
EUROPE – CEIOPS, the European pension supervisory committee, has approved a protocol on cooperation between member states in the field of occupational pensions.
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AP3 considering portable alpha
SWEDEN – Tredje AP-fonden, the roughly €20bn Third National Pension Fund/AP3, is currently brainstorming about portable alpha – although there is no guarantee it will be implemented.
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Hermes to stand trial in Korea
KOREA – Hermes Investment Management, owned by the BT Pension Scheme, says it is to strand trial in Korea following allegations of stock price manipulation.
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UK consultants see limited conflict of interest
UK – The Society of Pension Consultants, responding to comments from the financial watchdog, says there is only “limited” scope for potential conflicts of interest in advising pension trustees and asset managers.
