Latest on Regulation & Reform – Page 482
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ABP publishes IORP investment principles
NETHERLANDS - Civil service scheme ABP is the first pension fund in the Netherlands to publish a declaration on its investment principles.
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EU’s Almunia sees no changes to social model
EUROPE - Joaquín Almunia, the European Commissioner for Economic and Monetary Affairs, says the continent’s social models will not have to be sacrificed to deal with population ageing and globalization.
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Hewitt names Szelecki as East European head
EUROPE – Hewitt Associates has named Zsolt Szelecki to head its European emerging markets group covering mostly Eastern European countries.
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EFAMA names UK’s Trenchard as director general
EUROPE – European investment fund association EFAMA has named the UK’s Viscount Hugh Trenchard as its new director general.
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DeAM, Trinkaus in running for Henkel CTA
GERMANY – Industry sources say Deutsche Asset Management and HSBC’s Trinkhaus Capital Management may be in line to advise chemicals firm Henkel on its planned contractual trust arrangement – an external fund to finance more than €1bn in pension liabilities.
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Saab AB sets up €265m pension fund
SWEDEN – The board of aviation firm Saab AB has approved the allocation of roughly SEK2.5bn (€265m) to a new pension fund, the Saab Pensionsstiftelse.
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Belgian funds see pan-European opportunity
BELGIUM – For Belgium, 2006 presents a window of opportunity to establish itself as a central player for pan-European pensions, the pension fund association says.
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Fortis loses out to KAS at De Eendragt scheme
NETHERLANDS – Stichting Pensioenfonds De Eendragt, the €800m Dutch paper and graphics industry scheme, has chosen KAS Bank as its custodian.
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IPE-QUEST: European bank seeks Japan advisor
EUROPE – A European bank has tendered for a Japanese equities advisor via IPE-Quest.
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Mercer names multi-management president
GLOBAL – Mercer has named Fidelity’s Phil de Cristo as president of its multi-manager arm Mercer Global Investments, a new role.
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Fortis to switch to ‘levensloop’
NETHERLANDS – Fortis Bank will switch its full pre-pension contributions to the new ‘levensloop’, or life course, scheme from 1 January.
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Aegon institutional chief joins board
NETHERLANDS – Aegon management board member Jan Overmeer is due to retire next year – to be replaced by corporate and institutional client chief executive Erik van Houwelingen.
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Study finds pension funds are fickle
EUROPE – Pension funds are the most fickle of all European institutional investors when it comes to asset managers, according to a new study.
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UK actuarial standards board chair named
UK – Former Laurentian Financial Group chief executive Paul Seymour has been appointed chairman of the UK’s new actuarial standards board.
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OECD global pension forum postponed
GLOBAL – A forum on global pensions organized by the OECD and the new International Organisation of Pension Supervisors has been postponed.
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ATP named best European pension fund 2005
EUROPE – Denmark´s ATP has been named overall Best European Pension Fund in 2005 at the annual IPE Awards in Berlin. It was also named Best European Public Pension Fund as well as scooping the top award for Denmark and risk management.
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MEAG targets third-party growth
GERMANY – MEAG, the asset management arm of reinsurance giant Munich Re, plans to expand its third-party business by between 25-30% annually, according to Robert Helm, managing director at MEAG responsible for third-party business.
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ABP opts for ORTEC performance system
NETHERLANDS - Stichting Pensioenfonds ABP, the Dutch civil service scheme, has chosen Pearl, ORTEC's performance and risk management system.
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Shier to chair Groupe Consultatif pensions group
EUROPE – Hewitt’s Philip Shier has taken over as chairman of the Groupe Consultatif Actuariel Européen’s Pensions Committee from Watson Wyatt’s Paul Thornton.
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PIMCO boosts its Swiss team
SWITZERLAND – Specialist fixed-income manager PIMCO has appointed Joachim Suter to the position of Swiss head of institutional business development.
