Latest on Regulation & Reform – Page 487
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Mn Services eyes European, UK expansion
EUROPE – Dutch pension group Mn Services is considering expanding out of its home market – possibly into the UK and elsewhere in Europe.
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IPE to host online pensions symposium
EUROPE – Investment & Pensions Europe magazine is to host an online symposium on European occupational pensions next month.
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UK says new rules to save schemes £10m
UK - The Department for Work and Pensions says new "bulk transfer" rules will save smaller schemes around £10m (€14.7m) a year.
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Watson announces five client wins
EUROPE – Consulting firm Watson Wyatt says it has won five new clients recently.
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Schering puts extra €450m into external fund
GERMANY – Pharmaceuticals company Schering has removed another €450m in pension liabilities from its balance sheet so that they can be financed by its contractural trust arrangement (CTA).
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Finnish postal scheme to be shut down
FINLAND - The roughly €400m pensions arm of Finland Posti - Finland Post Pension Fund - will be closed down following the outsourcing of its entire statutory and supplementary divisions to Ilmarinen Pension Co. and Pohjola Life respectively.
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Troubled Alliance Capital gets NPRF boost
IRELAND – The National Pensions Reserve Fund has made its first move into emerging markets equities with a €142m investment via Alliance Capital Management, which has been under scrutiny from US regulators.
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Funds to embrace independent research – McCreevy
EUROPE – European Commissioner Charlie McCreevy is confident that UK and European pension funds will embrace independent research.
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Dexia AM opens Stockholm branch
SWEDEN – Dexia Asset Management is opening a branch in Stockholm headed by Fredrik Wilkens from Key Asset Management.
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Ex-Mercer partner appointed Hewitt consultant
UK – Hewitt Associates has hired former Mercer HRC European partner Jonathan Gainsford as consultant at the group’s UK retirement business practice.
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JP Morgan Chase assets rise 13% to $828bn
GLOBAL – Total assets under management at JP Morgan Chase surged to $828bn (€692bn) in the third quarter of 2005, up 13% since the third quarter of last year and up $45bn since June 30.
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MEPs to probe pension directive transposition
EUROPE – The European Commission is facing a series of questions about the poor transposition of the occupational pension directive from the European Parliament.
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Dutch pensioners ‘still not involved in funds’
NETHERLANDS – Pensioners are still not sufficiently involved in the running of Dutch pension funds, says the Social Economic Council, or SER.
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British Telecom names head of pensions
UK – Kevin O’Boyle, former UK pensions director at Royal & SunAlliance, has been appointed new head of pensions at phone giant British Telecom.
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Swedish schemes to restructure amid directive
SWEDEN - Top Swedish pension funds are set to re-structure their entire portfolios in the wake of the introduction of mark-to-market valuation of liabilities as part of the pensions directive.
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Changes to UK PPF levy broadly welcomed
UK – The Pension Protection Fund’s plans to change the risk-based levy have been broadly welcomed by the industry today.
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IPE's Hurst wins SSGA fund management award
EUROPE - Martin Hurst, Features Writer at IPE Magazine, has won the Best Fund Management Trade Journalist award at State Street Global Advisors' annual UK institutional press awards.
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EU sees UCITS role in occupational pensions
EUROPE – Charlie McCreevy, the European Union’s internal markets commissioner, says UCITS investment funds are a ready-made solution for defined contribution occupational pensions.
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Watson Wyatt seeking manager researchers
UK – Consulting firm Watson Wyatt has advertised job vacancies for manager researchers, based in Reigate or London.
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Commission set to present portability directive
EUROPE – The European Commission is set to approve a delayed occupational pensions portability directive on October 20 - yet the document has already drawn fire from Germany’s occupational pensions lobby Aba.
