Latest on Regulation & Reform – Page 483
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‘Fully funded’ may not mean that, says Maher
EUROPE - The European pensions directive’s requirement that IORPs be “fully funded” does not mean exactly that, Irish pensions regulator Anne Maher told the IPE Multipensions Conference in Amsterdam.
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Levensloop for self-employed reconsidered
NETHERLANDS – Dutch Social Affairs minister Aart Jan de Geus is again to look at the possibilities of creating a ‘levensloop’, or life course, scheme for the self-employed.
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Loss of key people impacts Norway’s Petrol Fund
AMSTERDAM – The loss of key people is the main reason why fund managers are fired by the Norwegian Petroleum Fund, according to its chief executive Knut Kjær.
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EU sees common pensions and market regulation
EUROPE – The European Commission says the European pensions, banking and securities regulatory committees will deliver “common decision-making and enforcement” within five years.
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Buck’s investment research head Treich exits
UK – Rob Treich, head of investment research at Buck Consultants, has left to join Mercer Investment Consulting.
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PGGM consortium buys €1bn real estate portfolio
NETHERLANDS – Dutch health care fund PGGM is part of a consortium that is buying retailer Vendex KBB’s real estate portfolio in a sale-and-lease-back agreement.
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Hermes plans commodity fund for pension schemes
UK - Hermes Pensions Management is planning to launch an index commodity fund exclusively for pension schemes early next year.
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Meeting set to debate 26th pensions regime
EUROPE – The so-called 26th regime for pan-European pensions is set to be discussed in a meeting at the European Parliament in Brussels next week.
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Lloyd’s scheme opts for Northern Trust
UK – The £365m (€534m) Lloyd’s Superannuation Fund has awarded an exclusive global custody and performance measurement brief to Northern Trust.
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Features
EU support needed for 'new' Europe
Much more co-ordinated action is needed at EU level to speed up pension reforms in the new member states, which are likely to suffer from an even greater demographic imbalance than “old” Europe, a conference in Brussels heard on November 14. The new member states were also told how they ...
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20% of UK schemes invest in hedge funds - NAPF
UK – Around one in five large UK pension funds have some exposure to hedge funds, the National Association of Pension Funds says.
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Uncertainty over BaFin real estate stress tests
GERMANY – BaFin, the German financial services regulator, has yet to make a decision on whether to include real estate investments in the so-called “stress tests” that it requires German lifer insurers and insurance-tied pension funds to undergo.
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Grafische scheme taps Kas Bank for levensloop
NETHERLANDS - Kas Bank will implement the 'levensloop', or life course, scheme of the industry-wide pension fund for the printing industry, or the Grafische BedrijfsFondsen, as of January 1 2006, the scheme has announced.
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Sweden's AP2 names new chief executive
SWEDEN – Andra AP-fonden, the SEK173bn (€18.2bn) Second Swedish National Pension Fund or AP2, has appointed Eva Halvarsson as chief executive.
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SEI sees 25% European growth
EUROPE – SEI, the US-based multi-manager fund provider, expects to grow its business in Europe by 25% annually, with nearly all of that growth taking place in the UK, its managing director for Europe says.
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Northern, Nordea in manager-of-manager move
EUROPE – Northern Trust and Nordea have launched two manager-of-manager funds in Finland, with a view to rolling them out across Sweden, Denmark and Norway in the near future.
