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."
Kim Gubler says it is time that schemes and administrators reassess SLAs and look at what real people need from their pension schemes and when
The Pensions Regulator (TPR) is focusing on reducing the number of "poorly-run" schemes as it seeks to improve standards across the board.
Prudential Retirement has completed around $2.6bn (£2bn) of reinsurance contracts for UK pension scheme longevity risk since the start of the year, it has disclosed.
Funding standards for DB schemes have increased exponentially over the past decades. Con Keating says such significant overstatement of liabilities will lead to pushback through the courts.