Latest on Regulation & Reform – Page 484
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Supervisors to circulate pension principles
GLOBAL - The International Organisation of Pension Supervisors is to circulate a newly approved set of principles for pension supervision in the New Year.
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Unilever sets up €5bn asset pooling vehicle
EUROPE – Consumer products group Unilever has set up a pension asset pooling vehicle called Univest which could grow to around €3-5bn in size.
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Dutch Treasury won’t issue index-linked bonds
NETHERLANDS - The Dutch State Treasury Agency won’t issue index-linked bonds in the near future, it said in its outlook for 2006.
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Germany’s FERI to expand into Switzerland
GERMANY – FERI Institutional Advisors plans to break into the Swiss institutional market sometime in 2006, according to Arnd Thorn, who took over as FIA’s chief executive last August.
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OECD flags up scarcity of government bonds
GLOBAL – The Organisation for Economic Cooperation and Development has flagged up the potential scarcity of high-quality long-term government bonds for pension funds.
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IPE-QUEST: Nordic bank seeks sub advisor
NORDIC – A Nordic bank has tendered an initial $80m sub- advisory mandate via IPE-Quest.
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Hoogovens scheme’s Bronger joins Robeco
NETHERLANDS – Patrick Bronger, senior investment manager at the €5.3bn Hoogovens pension fund, has joined Robeco’s hedge fund department.
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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.
