All articles by Barbara Ottawa – Page 86
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Polish pension managers lose €1.8bn
POLAND – Managers at Polish pension companies recorded losses of PLN6.5bn (€1.8bn) for the month of January.
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Pension funds cautious about GTAA
[15:45 CET 18-02] GLOBAL – Adding a global tactical asset allocation (GTAA) mandate to a portfolio is still a question of money, belief and regulation, according to pension funds.
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NewsZurich and Credit Suisse profit, as UBS loses
[16:25 CET 14-02] SWITZERLAND – Despite drops in the performances of their investment banking and asset management operations Swiss banks Zurich and Credit Suisse (CS) reported positive net results in their overall operations while UBS saw institutional investors shun its funds.
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German funds need incentives for private equity – minister
[15:00 CET 13-02] GERMANY – The reluctance of large domestic investors to go into private equity and venture capital is discouraging foreign investors from investing in German start-ups, according to a study commissioned by the German federal economy ministry.
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Bavaria chooses "Fed" for pension fund
[16:00 CET 12-02] GERMANY – The German Federal Bank “Bundesbank” will manage the assets of the now established pension fund for Bavarian civil servants.
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Exotic beta is the new alpha
[13:00 CET 11-02] GLOBAL – The quest for alpha is increasingly being replaced by a search for exotic beta as pension funds are losing faith in managers' abilities to really outperform markets.
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"Don't be obnoxious", pension funds tell managers
[14:00 CET 08-02] GLOBAL – Being targeted with sales pitches after 11.30pm when attending conferences and leaving "half an hour" messages on voice mails are just two of the 'don'ts' asset managers have been told to avoid, as pension fund officials find them annoying.
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'No technical argument against Solvency II' - supervisor
[15:00 CET 07-02] AUSTRIA/EUROPE – The decision on whether or not to apply Solvency II requirements to pension funds will be a political one as there are “no technical arguments” against such a step, according to Harald Gössl of the Pensionskassen department at the Austrian financial supervisor FMA.
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APK outperforms Austrian average
[13:00 CET 06-02] AUSTRIA – Multi-employer Pensionskasse APK performed considerably better than the domestic market average last year with a 4.8% return.
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"Portability not main aim of pension promise" - academic
[16:00 CET 05-02] EUROPE – The European Commission is “too much focused” on full portability of pension rights and has forgotten occupational pensions are a bonus which companies offer employees to stay with the firm, according to Austrian economics professor Ulrich Runggaldier.
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UBS completes French push
[16:30 CET 04-02] SWITZERLAND – Swiss bank UBS has received reguatory approval to purchase the French asset manager Caisse Centrale de Réescompte (CCR) from German Commerzbank, amid preparations for its extraordinary general meeting (EGM).
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EU issues new warnings over tax discrimination
[15:45 CET 01-02] EUROPE – Germany and Estonia received formal notices from the commission of the European Union (EU) requesting information in different tax treatment of foreign pension funds when it comes to dividends and interest.
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“Strong investor" could help small UBS shareholders - Profond
[16:30 CET 30-01] SWITZERLAND – President of the Pensionskasse Profond, Herbert Brändli, has suggested having one large shareholder at Swiss bank UBS might prevent similar “mistakes by the management” which led to losses of several billion Swiss francs last year.
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Swiss funds saved by direct real estate
[12:30 CET 29-01] SWITZERLAND – Direct ownership of domestic property helped Swiss pension funds bring up their performance from just under 1% on average to over 2%.
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NewsNew player enters Austrian MVK market
[11:30 CET 28-01] AUSTRIA – Markus Zeilinger, former chairman of the board at the Bonus Pensionskasse and Mitarbeitervorsorgekasse (MVK), is setting up a new Vorsorgekasse for severance pay MVK.
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NewsSwiss pension funds miss minimum rate
[16:50 CET 25-01] SWITZERLAND – Swiss Pensionskassen returns for 2007 will be “only just positive”, Christoph Ryter, president of the pension fund federation ASIP, told IPE.
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MetallRente posts negative return
[14:00 CET 24-01] GERMANY – The MetallRente pension fund saw its assets grow from €781m to €1bn in 2007, despite a negative return of -2.6%.
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Pensionskassen under pressure
[16:20 CET 23-01] AUSTRIA – Labour organisations are demanding more guarantees for returns on pension assets, following publication of annual return, but Pensionskassen are urging members to see the whole picture.
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Right issue too costly, says UBS
[16:45 CET 22-01] SWITZERLAND – Swiss bank UBS has angered smaller shareholders by planning an exclusive capital increase with the help of two Asian institutional investors.
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SAM hires former pension fund head
[12:30 CET 21-01] SWITZERLAND – Ex-Pension Fund Services (PFS) chief executive Reto Kuhn will head a new division at Zurich-based Sustainable Asset Management (SAM).
