Romanian pension funds; US private equity; Watson Wyatt UK appointment
Romanian pensions up 13%
ROMANIA - Romanian pension funds were up an average of 13% for the first nine months of the year, according to the Romanian Pension Fund Association.
Mandatory funds, the second pillar schemes, returned 13.61% while third pillar voluntary funds returned 12.97% in the nine months ended September 30. Total assets in the system reached €516.6m (US$767.6m).
GI Partners closes $1.9bn fund
US - Private equity firm GI Partners said it raised US$1.9bn for the GI Partners Fund III from institutional investors, including several pension funds.
Investors included the Florida Retirement System Trust Fund and Teachers` Retirement System of the State of Illinois, the firm said in a release.
GI executive managing director said: "Given the difficult economic environment, we are extremely pleased to have grown our base of new investor relationships by more than 50% and to have secured larger capital commitments from almost all of our existing limited partners."
Loveday to lead hedge fund research at Watson Wyatt
UK - Watson Wyatt has named Damien Loveday global head of hedge fund research, the consulting firm said today.
Loveday, who took the position on October 1, replaced Craig Baker, who leads the global manager research team.
Baker said: "While the crisis has exposed many hedge funds that are not structured to add value for investors, it is an industry that still has a high proportion of the world's most talented investors capable of delivering value in difficult markets. Damien's appointment is part of an ongoing strategy to identify those hedge fund managers that can generate strong net risk-adjusted returns."
Retirees could benefit from more sustainable income and higher death benefits by including guaranteed income in the asset mix of their portfolios at retirement, according to research by Milliman.
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.