All articles by Barbara Ottawa – Page 66
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German association fears contribution drop
[16:00 CET 10-12] GERMANY – The VFPK, the German association of company Pensionskassen, has warned that a government move to introduce tax advantages for employers offering shares as part of salary entitlement could divert money from occupational pension schemes.
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ÖPAG expects 9% return for 2009
[16:00 CET 09-12] AUSTRIA – The second-largest Austrian Pensionskasse, ÖPAG, will outperform the market average this year, according to Andreas Zakostelsky, head of the Vorsorge Holding.
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Bavaria freezes contribution to public pension fund
[13:30 CET 08-12] GERMANY – The Bavarian regional government is freezing the contributions to its public fund for civil servants instead of paying a promised €35m lift next year, on the back of the financial crisis.
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DB Advisors predicts interest rate and accounting change
[16:00 CET 07-12] EUROPE – Georg Schuh, chief investment manager at DB Advisors, has sought to lift some of the worries that German pension have about their bond yields and predicted the US Federal Reserve will increase interest rates by next year.
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Consultancy sees Pensionsfonds growth
[17:05 CET 04-12] GERMANY – New accounting rules and a higher levy charged by Germany's PSV pension insolvency fund could boost interest in the creation of Pensionsfonds, according to Febs Consulting in Munich.
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One in four German institutions replaced managers post-crisis
[17:05 CET 03-12] GERMANY – German ratings agency Feri has found some German institutional investors have replaced their asset managers in the wake of the recent financial turbulence.
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Romania moves to cut pensions monopoly
ROMANIA – The two largest funds in the Romanian second pillar will not be handed new clients from the pensions default pool over the next two years, the supervisory authority has decreed.
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Deutsche Bank opens cross-border pension vehicle to clients
[15:45 CET 01-12] GERMANY – Deutsche Bank has created a cross-border asset-pooling vehicle for its own pension assets, and is now inviting clients to join too.
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Credit Suisse pension fund cuts equities
[16:00 CET 30-11] SWITZERLAND – Credit Suisse reduced the equity exposure in its Pensionskasse by 10 percentage points in September and October, but officials have indicated they may hike the fund's equity holding again soon.
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Institutional investors should be made to engage – Brady
[14:00 CET 23-11] EUROPE – A proposal to issue binding guidelines for institutional investors on corporate governance was met with criticism at last week's CEIOPS conference.
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NewsGerman funding levels down as equity markets rise
[15:00 CET 20-11] GERMANY – German listed companies have seen their pension liabilities increase over recent months as bond yields have risen, despite the fact that equity markets have recovered well.
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AIFM needs 'lots of changes' – EU's Bowles
[14:00 CET 19-11] EUROPE – Sharon Bowles, Chair of the Committee on Economic and Monetary Affairs at the European Parliament, said the Alternative Investment Fund Managers (AIFM) directive needs “a lot of changes” as she fears it could make pensions unaffordable in its current form.
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EIOPA might end up with fewer powers – Bernardino
[16:15 CET 18-11] EUROPE – The proposed new supervisory authority replacing CEIOPS might not be as powerful as currently drafted, according to Gabriel Bernardino, the new chairman of CEIOPS.
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Innovative SRI products needed, say pensions execs
EUROPE – Panellists at the European Pension Funds Conference in Frankfurt have called on SRI/ESG service and product providers to come up with innovative products to help pension funds adapt their investments.
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NewsGermany's MetallRente to target 80% equities
[15:30 CET 13-11] GERMANY – MetallRente, the pension group for the German metal industry, now has a target allocation of 80% equities in its Pensionsfonds - a pensions vehicle that it believes is most appropriate for young people.
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Asset managers must 'kill sacred cows' – McKinsey
[15:00 CET 13-11] EUROPE – Asset managers were saved by institutional inflows during the crisis but in order to survive it they will have to restructure their businesses, management consulting firm McKinsey & Company says.
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Pensions security overrides Swiss diversification – study
[16:50 CET 10-11] SWITZERLAND – Credit Suisse has conducted a study on the efficiency of Swiss Pensionskassen’s asset allocation, which indicates the strategies applied by schemes are “relatively efficient” but have room for improvement in terms of diversification.
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Study uncovers 'unfathomed' liquidity risks
[15:30 CET 09-11] GERMANY – A study conducted by Union Investment has claimed methods for measuring portfolio liquidity risks are insufficient. It also suggests German institutional investors are already less concerned about this risk measure, despite the recent crisis.
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Poland plans cut to role of pension funds
POLAND – The Polish social insurance body ZUS may be granted the right, from next summer, to manage the money that pension fund companies have to invest in government bonds.
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Better data can help annuity pricing – DC experts
[15:00 CET 04-11] EUROPE – Policymakers can help DC scheme members by providing better data on longevity to ensure fair annuity pricing, says a report by the DC working group of the Groupe Consultatif, the European umbrella organisation of national actuarial associations.
