All articles by Barbara Ottawa – Page 63
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News
Structured products regain trust with German pension funds
GERMANY – Retirement vehicles in Germany are showing increased interest in structured products, hedge funds and infrastructure as well as LDI and SRI, a recent survey by IPE Institutional Investment reveals.
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German DAX firms paid 30% more into pensions in 2009
GERMANY – DAX 30 companies' pension payments reached €9bn in 2009, compared to €6.5bn the year before, Towers Watson has calculated. Overall funding funding levels remained the same.
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Swiss pension funds to name managers under tighter disclosure
SWITZERLAND – Pension funds will in future be required to name their asset managers and advisers in their annual reports, as part of a range of structural governance reforms of the mandatory Swiss second pillar pensions regime.
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Market upturn failed to increase DAX-related pensions' funding levels
GERMANY – The funding levels of pension schemes at Germany’s top stock market-listed companies have not improved despite last year’s market rally, consultancy firm Mercer has found.
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Swiss default fund restructures admin
SWITZERLAND – The CHF6bn (€4.1bn) 'safety net' fund, AEIS, has finished a major administration restructuring and remains “comfortably funded” at 105% per year-end 2009, according to its CEO, Markus Stieger.
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UBS reports net institutional outflows
SWITZERLAND – Swiss bank UBS saw institutional net outflows of CHF12.7bn (€8.72bn) last year while former managers received bonus payments, partly in form of additional pension fund contributions.
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NewsHungarian growth funds return almost 26%
HUNGARY – The growth portfolios of the 19 mandatory Hungarian pension funds returned 25.95% over the last year with the average performance of all funds standing at 18.6%.
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NewsSwiss PKBS gets another CHF800m injection
SWITZERLAND – The Swiss Pensionskasse for the city of Basel, PKBS, will receive another CHF795m (€544m) from the city but other public funds will be granted the right to remain underfunded.
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Austrian severance pay fund finally gains licence
AUSTRIA – After a two year’s wait the tenth severance pay fund fair-finance could announce its licensing today.
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BNY Mellon becomes second largest custodian in Germany
GERMANY – BNY Mellon has agreed to acquire German custodian BHF Asset Servicing and its fully-owned fund administration affiliate Frankfurter Service Kapitalanlage-Gesellschaft.
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News
Swiss Post and PKBS deliver below average returns
SWITZERLAND – The Pensionskasse of the Swiss postal service (PK Post) as well as the one of the city of Basel (PKBS) returned 9.43% and 10.4% respectively last year - less than other pensionskassen because of their lower risk strategies.
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IMF maintains pension reform pressure on Czechs
CZECH REPUBLIC – The 10 funds in the Czech second pillar pensions regime posted an average return of 1.46% in 2009. And the IMF and a pensions reform committee are now discussing reform plans.
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Seven in 10 voted against Swiss conversion rate cut
SWITZERLAND – Almost 73% of voters rejected a proposal in a Swiss referendum yesterday to cut the conversion rate on Swiss second pillar pensions.
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Competition forces Delta Lloyd to withdraw from German pensions market
GERMANY/NETHERLANDS – The German life insurance and Pensionskassen business of Dutch Delta Lloyd will not be taking on any new clients.
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SBB gets CHF1.148bn in state aid
SWITZERLAND – The Swiss government has decided to grant the ailing Swiss federal railways (SBB) Pensionskasse CHF1.148bn (€784.5m) in aid if, in return, the fund drops all demands for a state guarantee on full funding.
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Pension fund trust in external management 'has returned'
AUSTRIA/GERMANY – Asset managers saw major outflows from institutional investors in 2008, but some pension funds are now expected to increase the share of externally-managed assets in their portfolios.
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IMF wants higher fees in Romanian second pillar
ROMANIA – The IMF has made a list of reforms it wants to see in the mandatory Romanian second pillar, including higher fees, but some of the demands are unnecessary, according to experts at the pension fund association, APAPR.
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ASIP hopes for mood change on Swiss referendum
SWITZERLAND – The Swiss pension fund association ASIP is "hoping for a mood swing" in public opinion, just days before the Swiss referendum on the pension conversion rate, its president Christoph Ryter has told IPE.
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News
ÖPAG rebrands as Valida Pension
[15:45 CET 01-03] AUSTRIA – Valida is the new name for the retirement holding and its subsidiaries like ÖPAG, officials announced today.
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Share of long-only investments will reduce – APK
[16:00 CET 26-02] AUSTRIA – Officials at the Austrian multi-employer pension fund APK say the crisis has led them to move its assets further away from long-only benchmark investment, although the old investment categories will still continue to exist.
