Latest on Regulation & Reform – Page 492
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Features
Directive to 'impact discount rates'
The implementation of the European directive on occupational pensions could lead to a change in the way discount rates are determined, according to the European actuarial consultative group. “We expect to see significant changes in the way discount rates and other assumptions are determined as EU states begin to implement ...
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News
Citigroup in German hedge fund move
GERMANY - The German investment arm of Citigroup has teamed up with a German and an Austrian private bank to launch one of Germany’s first single hedge funds.
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AMF Pension names Björkén to fixed income role
SWEDEN – AMF Pension has rejigged its fixed income management, with Bengt Björkén become acting head of fixed income and Lars Aberg taking an ALM role.
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European schemes differ on pension directive
EUROPE – Managers of European pension funds have widely differing views about the directive on pension funds that is due to implemented by member states in less than a month.
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COMMENT: Germany’s draconian BaFin
COMMENTARY – German regulators’ new securities trading disclosure rules are far too draconian, writes European Fund Focus Editor Bruce Love.
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Man Investments CEO Chambers quits
UK - Man Investments’ chief executive Chris Chambers is stepping down at the end of the month after three and a half years at the alternative investments firm.
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IPE-QUEST: Swiss consultant tenders two mandates
SWITZERLAND – Lugano-based investment consultant Kieger has tendered two mandates worth up to a combined $100m on behalf of clients via IPE-Quest.
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‘No reason to celebrate’ for Swiss funds
SWITZERLAND – Despite a more than 6% return in the first half, Swiss pension funds have no reason to celebrate due to low bond yields, says the Swiss pension fund association ASIP.
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Mellon eyes stake in WestAM – FT
GERMANY – Mellon Financial Corp. is considering taking up to a 50% stake in WestAM, a German institutional fund provider that specialises in fixed income, according to the Financial Times.
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Norway’s Kvaerner embroiled in UK pension row
UK – Norwegian industrial holding group Kvaerner ASA has become embroiled in a row over its relationship to the Kvaerner Pension Fund (KPF), the UK pension plan of the former Trafalgar House.
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Norwegian pension premiums set to rise, says KLP
NORWAY – Pension premiums are set to rise in Norway if the authorities decide to cut the maximum basic rate even further, occupational pensions provider KLP says.
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T. Rowe Price opens Luxembourg office
LUXEMBOURG - T. Rowe Price has opened an office in Luxembourg, headed by senior product manager Ian Hoddy.
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Cayman Islands boosted by pension inflows
CAYMAN ISLANDS – The Cayman Islands’ hedge fund industry is still being boosted by pension fund inflows, according to a local legal firm.
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Deutsche warns on German demographics
GERMANY - Germany’s labour force could shrink by as much as a fifth by 2050, which could worsen the demographic problem and hinder economic growth, according to a new research report from Deutsche Bank.
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Threadneedle names Nordic distribution head
NORDIC – Threadneedle Investments has named Thomas Berglund as head of Nordic distribution, responsible for the developing the firm’s business in Sweden, Norway, Denmark and Finland.
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Dutch occupational schemes eye own governance
NETHERLANDS - The 11 Dutch occupational pension funds are developing their own code for corporate governance.
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Dutch schemes ‘prefer internal supervision’
NETHERLANDS - The Dutch pensions industry is resisting the appointment of external supervisors amid negotiations for a code for corporate governance, according to reports.
