UK Money News

20th November 2007
NAPF welcomes Walker proposals
The National Association of Pension Funds (NAPF) has said that the Walker report on private equity outlines a number of good proposals for the pensions industry.
According to the organisation's head of corporate governance, David Paterson, the report supports further use of private equity by pension funds, in part due to increased transparency measures.
"Taken in the round, we believe that these proposals will support the success of the industry by encouraging an appropriate level of transparency, reporting to investors (limited partners) and improved performance reporting," Mr Paterson said.
However, he added that whether the proposals in the guidance succeed or fail will be based on the conduct of private equity firms and whether they "comply with the guidelines".
Around ten million people are in pension funds registered with the NAPF, with some five million pensioners receiving personal finance in retirement through such schemes.
The Walker report was developed through a working group featuring members of private equity groups such as 3i, KKR and Apax Partners.
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