AMD Meets with Sen. Reed on Pension Reform
On Thursday, January 12, 2006, members of the Asset Managers Division met with Senator Jack Reed (D-RI) at the New York Offices of The Bond Market Association. Senator Reed is a member of the House/Senate Conference concerning pension reform legislation. The Senator and AMD discussed possible legislation that might provide an opportunity for the authorization of active cross trading by an asset management firm concerning pension fund accounts.
AMD members that participated in these discussions were John Gidman, Loomis Sayles (AMD Chairman); Bruce Gallant, J.P. Morgan Asset Management and James Wallin, Alliance Capital.
The good news from the meeting is that there is time for the industry to provide input on this issue. The AMD is seeking inclusion of changes to ERISA's transaction rules in the Pension Protection Act. The AMD is planning additional discussions with other Washington leaders.
Bill Gross to Address The Bond Market Association at Annual Meeting
PIMCO Managing Director Bill Gross will address TBMA members at the Association's 2006 Annual Meeting in New York City on May 19th. Mr. Gross' address has particular significance since it marks both the inaugural year of the Asset Managers Division and the 30th Anniversary of The Bond Market Association.
At PIMCO, Mr. Gross oversees numerous bond investment funds-with more than $500 billion in assets under management-and is a regular commentator on US and global credit markets.
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