All articles by Barbara Ottawa – Page 59
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NewsSwitzerland's Ethos foundation weighing options on UBS class action
EUROPE – Switzerland's Ethos foundation is keeping "all options open" in its struggle to start legal proceedings against former board members at UBS, including joining a class action suit.
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NewsBoard calls for insolvency levy changes to Germany's PSV
GERMANY – The German pension insolvency fund, Pensionssicherungsverein (PSV), is thinking to adopt a more risk-based levy and increase reserves, according to Dieter Hundt, chairman of the supervisory board.
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NewsCanton of Zurich pension fund scandal widens
SWITZERLAND – The corruption scandal at the Zurich civil servants' fund (BVK) has taken another dramatic turn, as yet another arrest has been made.
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NewsSwiss ECOFIN co-founder's views on passive investment 'naïve'
SWITZERLAND – Herbert Brändli, head of the €2.2bn Swiss pension fund Profond, has slammed a recent article written by industry expert Martin Janssen and rejected the notion that active investment in particular lends itself to criminal activity in pension funds.
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Romanian pension funds return nearly 10% in H1
ROMANIA – Mandatory second-pillar funds in Romania returned 9.9% over the first half of 2010, and plans to cut contributions are now off the table, according to the Romanian pension fund association APAPR.
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News€1.3bn Ascoop spin-off starts operations, sets out SAA
SWITZERLAND – Symova, the spin-off Pensionskasse for companies in the transport sector, has started operations, while Ascoop is facing liquidation.
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NewsGerman pension funds focus on liquidity, poll says
GERMANY – Among German institutional investors, pension funds are the least concerned about security when making investment decisions, according to a poll commissioned by alternatives manager Aquila Capital.
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NewsBosch boosts alternatives
GERMANY – The German technology multinational Bosch is close to achieving its 10% strategic asset allocation to alternatives for its Pensionsfonds.
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Complementa not under suspicion, public prosecutor confirms
SWITZERLAND – In the ongoing scandal over alleged corruption at the Canton of Zurich pension fund (BVK), the fund’s investment controller Complementa has now received confirmation from the public prosecutor that it is not under suspicion.
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Austria’s APK to up absolute returns, Valida underweights credit
AUSTRIA – Austria’s APK Pensionskasse plans to increase absolute return investments, while its competitor Valida Pension is to reduce its allocation to credit.
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Nordic institutional investors abandoning long-term SAA, says Union
EUROPE – German asset manager Union Invest is seeing increasing demand in its absolute return and capital preservation strategies, particularly among Anglo-Saxon and Scandinavian institutional investors.
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NewsSwiss corruption saga continues as media storm gathers over Complementa
SWITZERLAND – The Swiss media has swarmed around yet another player in the ongoing corruption scandal involving the civil servants pension fund for the canton of Zurich (BVK).
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NewsHessen chemical companies divert 'demography' funds into pensions
GERMANY – Chemical companies in the German province of Hessen are increasingly spending money from so-called 'demography funds' on occupational retirement provision, a poll has revealed.
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NewsSwitzerland's BLVK dumps hedge funds, hedges euro
SWITZERLAND – The CHF5bn (€3.7bn) BLVK Pensionskasse for the teachers in the Swiss capital of Bern has been "unconvinced" by the performance of hedge funds and is therefore liquidating the mandate as part of a minor revision to its strategic asset allocation (SAA).
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No fee boost for Swiss TV pension fund, government says
SWITZERLAND – The CHF2bn (€1.4bn) Pensionskasse PKS for the Swiss public broadcasting company SRG SSR has returned to full funding and will not receive additional money from TV license fees to build reserves, the federal government has said.
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NewsErste: Only 8% of Austrians see pension funds as 'ideal' retirement vehicle
AUSTRIA – More than half of Austrians no longer believe the state pension will suffice when they reach old age, but faith in second-pillar pensions is even weaker, a poll commissioned by Austrian banking group Erste has found.
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Austria's VBV increases exposure to domestic corporate bonds
AUSTRIA – VBV, the largest Austrian Pensionskasse, underperformed the market last year, but made good returns, increasing its exposure to Austrian corporate bonds.
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Listed companies still 'major part' of Austrian pension system, says Arithmetica
AUSTRIA – The unfunded pension reserves of Austrian listed companies weathered the financial crisis well and will remain a major part of the country's pension system, according to Christoph Krischanitz, chief executive of Austrian consultancy Arithmetica.
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Canton of Zürich pension scheme sacks head of asset management
SWITZERLAND – The head of asset management for the canton of Zürich pension scheme has been sacked after 20 years in government service after the regional government said its trust in him had been "damaged".
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Slovenia government waters down second-pillar reform
SLOVENIA – Second-pillar funds in Slovenia will not have to shift from insurance funds to mutual funds under a new pension reform proposal, the government has said.
