NETHERLANDS – Stichting Pensioenfonds ABP has been named as an observer at a new expert sub-group on hedge funds set up by the European Commission.

The Dutch civil service scheme’s Robert Coomans is one of five observers to the group that was announced today, as part of a wider industry group that also includes a private equity sub-group. ABP is involved in its capacity as a wholesale investor.

There are 15 experts on the sub-group, including executives from Barclays Global Investors (Lindsay Tomlinson), Goldman Sachs (Segun Aganga) and MAN (Rupert Rossander).

It’s part of a wider ‘Expert Group on Alternative Investment Funds’ which will analyse the current organisation of the alternative investments business.

“It will examine whether operators in these asset classes are confronted with significant difficulties in organising their activities in the European marketplace, and explore whether these issues warrant attention from EU policy-makers,” the Commission said.

A 10-strong private equity sub-group and 23-strong expert group on investment fund market efficiency was also set up. These groups have four and five observers each.

The composition of the groups was based on nominations received from 13 European-level associations, including the European Federation for Retirement Provision.

The European Commission said the groups’ objective would be to look at how the EU framework for investment funds could be improved.

The groups will meet on several occasions until June 2006 and report on their findings, which will feed into the Commission's White Paper on investments funds and related impact assessment work - scheduled for publication in October 2006.

The groups were proposed by the Commission Green Paper on investment funds published in July 2005.

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