All articles by Barbara Ottawa – Page 81
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News
PKZH suspends rebalancing on solvency drop
[16:30 CEST 28-07] SWITZERLAND – The CHF14.5bn (€8.9bn) City of Zürich Pension Fund has decided not to make any major changes to its portfolio in light of the credit crisis, even though its funding level has now dropped from 130% in 2007 to an estimated 116% today.
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Is real estate increase only statistical?
[14:00 CEST 25-07] SWITZERLAND – According to the Credit Suisse Pensionskassenindex for the second quarter pension funds' exposure to foreign equities, real estate and alternative assets has increased over the last three months – but this may not have been down to active allocation decisions.
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Credit Suisse stems asset bleed
[16:20 CEST 24-07] SWITZERLAND – After major asset outflows in the first three months of this year Swiss bank Credit Suisse has reported more positive figures for Q2, though all is not yet well.
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Defendants acquitted in Vera/Pevos pensions trial
SWITZERLAND – All seven defendants in the trial around the collapse of the Vera and Pevos Pensionskassen in Switzerland in 1996 have been acquitted by a regional court and officials say it now may be too late to take the case further.
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BVI sees trend towards specialisation
[16:45 CEST 23-07] GERMANY – Investors are once again choosing separate providers for portfolio management and fund administration, according to the German investment and asset management federation BVI.
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Few Slovaks move to opt out
SLOVAKIA – Just 6% of Slovakians had chosen to leave the second pillar pension system by the end of the recently implemented 'opt-out' deadline, figures reveal, but new member inflow will be slower from now on as it is no longer mandatory.
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Swiss returns slump to -8.38% without property
[12:40 CEST 21-07] SWITZERLAND - Swiss Pension funds returned -8.38% for the first half of this year, according to State Street's latest Swiss Pensionskassenindex.
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New group targeted for German second pillar
[10:27 CEST 18-07] GERMANY – German insurance company R+V will offer low earners second pillar pension products.
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German SMEs confused by pension disclosure
[15:36 CEST 17-07] GERMANY – The pension provider Dgbav has warned that smaller companies are struggling with transparency rules for pensions. (amends Dgbav's label)
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NewsPolish pension funds down 2.6% in H1
POLAND – Polish pension funds reported a fall in the value of their assets of -2.6% for the first half of 2008.
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NewsNew mortality tables ease pension funding
[10:13 CEST 15-07] AUSTRIA – Mortality updates issued by the Austrian actuary association AVÖ show a slight increase in longevity but financing pensions will be cheaper than expected confirms ÖPAG Pensionskasse.
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Pensionskasse gets new roof
[15:26 CEST 14-07] AUSTRIA – The €1.9bn Austrian Pensionskasse ÖPAG will be included in Raiffeisen and Uniqa's soon-to-be-unveiled pensions conglomerate.
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NewsUkraine's second pillar on hold
UKRAINE – Adverse financial market conditions have led to a further postponement of the introduction of a second pillar in Ukraine.
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Swiss pension funds move back to positive ground
[16:30 CEST 09-07] SWITZERLAND – Pensionskassen are back in black for the second quarter but Credit Suisse's calculations are pointing downwards again.
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News
Pension deal dies along with coalition
[12:30 CEST 08-07] AUSTRIA – Austrian voters will have to choose a new government as the coalition between the SPÖ and ÖVP parties has broken over pension, health and EU issues.
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Romanian pension assets to reach €224m by year end
ROMANIA – Romanian second pillar funds are expected to collect €224m in contributions in their first year of existence - but that is not enough according to the IMF.
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Resistance against SBB financial aid
[15:50 CEST 04-07] SWITZERLAND – The Swiss economic federation “economiesuisse” as well as the conservative opposition party SVP reject plans to further subsidise the underfunded federal railways pension scheme SBB.
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Serbia mulls second pillar (amended)
SERBIA – Within the next few years Serbia will be next in line in the CEE region to introduce a mandatory second pillar, Marija Medenica, director of Erste Invest Beograd, has told IPE.
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News
SRI indices underperformed in market turmoil
[12:00 CEST 01-07] AUSTRIA/GLOBAL – SRI indices have underperformed their peers during recent market turbulence but Martin Cech, portfolio manager at Austrian SRI asset manager Vinis argues this is only a glitch in the responsible investment success story.
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News
Pictet claims growth towards packaged funds
[15:00 CEST 30-06] EUROPE – Institutional investors are increasingly looking at ready-made fund solutions for their investments rather than go through the process or tendering mandates, Swiss private bank Pictet has claimed.
