All Country Reports – Page 49
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Country Report
The Mediterranean: Injection of enthusiasm
Smart tax reforms look likely to boost Turkey’s small supplementary pension sector, which is predicted to reach €100bn by 2023, according to Reeta Paakkinen
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Switzerland: Pension funds seek returns
Persistent low interest rates are making it harder to achieve risk-free returns. Pension funds will need the tailwind of friendly stock markets, argues Peter Bänziger
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The Mediterranean: Uncertainty reigns
Cyprus’ economic proximity to Greece is causing uncertainty. Nina Röhrbein looks at the effect of regional economic turmoil on the investment strategies of pension funds
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The Mediterranean: Pensions in crisis
Pension reform proposals have been put forward, writes Roxane McMeeken. The trick will be to implement them amid the current political and economical chaos
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France: Pensions on the move
With no domestic IORP-compatible regime and with Solvency II looming, two of France’s supplementary pension providers are looking to move their domicile. Cécile Sourbes assesses the pros and cons of their plans
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France: Hope beyond the figures
Alain Lemoine assesses some important implications for pensions and institutional investment in an election campaign notable otherwise for its silence on retirement issues
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France: On track for change
“You become responsible forever for what you have tamed,” the French writer Antoine de Saint Exupéry once wrote. This maxim might describe the team’s mindset at the French €5.9bn public pension fund IRCANTEC, as it approaches this spring a pivotal moment in its investment lifetime. After 63 years of existence, ...
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France: Paradigm shift
Richard Bruyère comments on a difficult year for the French institutional market
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Nordic Region: Green shoots
Iceland’s economic recovery is inflating domestic asset prices as capital controls persist. And the consequent lack of investment opportunities is restricting pension funds’ room for manoeuvre, writes Nina Röhrbein
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Nordic Region: The right skills on board
Rachel Fixsen outlines controversial requirements designed to improve the governance of financial companies’ supervisory boards
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Nordic Region: Seeking emerging rewards
Norway’s Pension Fund Global – one of the largest institutional investors worldwide, with over €425bn in assets – is reconsidering its European exposure. Jonathan Williams looks at the motivation for the changes
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Nordic Region: Funding the baby boomers
One of the brains behind the Swedish pension reform of the late 1990s, Bo Könberg, then the country’s minister for health and social security, has now come up with a way to handle the increasing healthcare costs for the largebaby-boom generation. He spoke with Pirkko Juntunen
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France: Life after downgrade
Gail Moss tests the institutional investment waters after January’s S&P downgrade and ahead of Solvency II
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Nordic Region: Lonely hearts club
The government has announced plans to channel pension fund assets into debt financing for SMEs. Rachel Fixsen outlines the various initiatives
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Nordic Region: Hard to beat
IPE looks at the sucess of AP7’s 2010 decision to overhaul its investment strategy
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Nordic Region: Going long
Sweden, with stable finances and a debt-to-GDP ratio of under 33% is an attractive safe haven for many investors. However, precisely these low debt levels have led to reduced need for longer-dated issuance, currently only 5.6% of debt outstanding. Jonathan Williams looks at reactions to the country’s recent 20-year bond exchange
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Germany: Providers of liquidity
As banks are withdrawing from project financing in real estate and infrastructure, Versorgungswerke like the BVK are stepping in and actively seeking investment partners, finds Barbara Ottawa
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Germany: Are Pensionsfonds maturing?
Klaus Stiefermann, Sabine Mahnert and Dr Cornelia Schmid argue that a few regulatory adjustments could greatly improve occupational pensions
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Germany: Two anniversaries and a critique
Mercer’s November 2011 summary of German corporate pension provision notes that “….supplementary pension plans… typically either adopt a book reserving approach, with or without segregated assets, or an insured pensions approach”. That’s diplomatic language for “not widespread with too little funding”, a situation that contributes to Germany ranking eleventh out ...
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Germany: Ten years of master KAG – an interim assessment
Clemens Schuerhoff and Hans-Jürgen Dannheisig draw on their experience in specialist consulting to assess the achievements and challenges for master KAGs in Germany
