DENMARK - The Danish government wants to set up a DKK5bn ($880m) venture capital pool with the country's pension funds to invest in small and medium sized domestic businesses.
The Economy and Business Affairs ministry said most of the money should come from Danish pension funds such as ATP. Part of the money should be used for loans that would match up to DKK6m kroner in private capital invested in small companies, the ministry added.
"It's in the pension funds' interest that we ensure we have a dynamic business sector," said Prime Minister Lars Loekke Rasmussen said in a news conference.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.