Latest on Regulation & Reform – Page 491
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Dutch central bank sees no alpha move in FTK
NETHERLANDS – The Dutch central bank, the DNB, says the new FTK framework should not result in a massive move into so-called alpha generating investments by pension funds.
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IPE publishes Top 1000 European Pension Funds
EUROPE – Investment & Pensions Europe has published Europe’s Top 1000 for 2005, a listing of the largest schemes in Continental Europe and the UK.
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Robeco sees “disappointing” asset inflow
NETHERLANDS – Robeco, the asset management arm of Rabobank, had a disappointing inflow of new assets in the first half of the year – hit by US outflows.
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German institutions ‘to seek lower hedge fees’
GERMANY – German institutional investors will increasingly pressure fund of hedge fund providers to cut management and performance fees, reckons consulting firm Faros.
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No delay for Dutch levensloop bill - minister
NETHELANDS - The new bill on VUT, pre-pension and 'levensloop', or VPL, should come into force as of January 1 2006, Dutch social affairs minister Aart Jan de Geus has told parliament.
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Germany: BaFin fund regulator Bartels to retire
GERMANY - Financial services regulator BaFin has confirmed that Volckmar Bartels, its chief supervisor for institutional, retail and hedge funds in Germany, will retire at the end of this month.
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ABN Amro Mellon makes Nordic hire
DENMARK - ABN Amro Mellon has appointed Danske Bank’s Soren Eberhard as business development manager for the Nordic market.
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European social model at risk – McCreevy
EUROPE – The European social model is at risk amid low growth and changing demographics, says Charlie McCreevy, the European Commission’s internal markets chief.
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COMMENT: Petroleum Fund up for grabs?
COMMENTARY – The head of the Norwegian central bank, Svein Gjedrem, appears to have dropped a hint about the future of the Petroleum Fund.
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Dutch doctors’ fund becomes limited company
NETHERLANDS – The €11bn doctors scheme SBA Artsenpensioenfondsen has announced its decision to become a private limited company - Doctors Pension Funds Services BV.
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Belgian pension funds now known as IORPs
BELGIUM – The Belgian Pension Fund Association has gone perhaps further than anyone else in reflecting the pension directive, by renaming pension schemes as IORPs.
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UK and Ireland in talks with EU on IORPs
IRELAND – Ireland and the UK are in talks with the European Commission over the recognition of UK/Ireland pension schemes under the pension fund directive.
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Petroleum Fund excludes firms for cluster bombs
NORWAY - Eight defence companies have been excluded from the Petroleum Fund because of their involvement in cluster bombs, the Ministry of Finance says.
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UK’s BBC drops DeAM for NewSmith
UK – The BBC says its £6.4bn (€9.4bn) pension scheme has dropped Deutsche Asset Management in favour of NewSmith due to an underperformance on investment targets.
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IPE-QUEST: European fund tenders Japan equities
EUROPE – A European pension fund has tendered up to $100m (€80.2m) in Japanese large-cap core equities via IPE-Quest.
