All articles by Barbara Ottawa – Page 88
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IPE winner loses heads
[11:00 CET 05-12] AUSTRIA – Markus Zeilinger, chairman of the board, and Johannes Puhr, head of asset management, are leaving the €240m Bonus Pensionskasse.
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Education no substitute for good default – Harvard academic
[15:00 CET 04-12] GLOBAL – Financial education and matching contributions from employers for DC schemes will not help raise the pensions savings rate, David Laibson, Professor of Economics at Harvard University, has suggested.
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World Bank in CEE financial reporting push
EUROPE – The World Bank has opened a centre for financial reporting reform (CFRR) in Vienna, to aid countries in Eastern Europe and Central Asia in their transition to international accounting and reporting standards.
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Redefine DC categories, argues Nobel laureate
[13:00 CET 30-11] GLOBAL – Default categories for defined contribution pensions should be devised according to "prototypes" of employees, Nobel economics laureate Joseph Stiglitz has recommended.
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Life cycle investment is 'utter nonsense', claims IPE winner
[16:15 CET 29-11] AUSTRIA – Changing the asset allocation in a portfolio solely on the basis of the members’ age is “complete nonsense”, as are other strictly “mechanical portfolio management concepts”, according to Christian Böhm, managing director of the Austrian multi-employer pension fund APK.
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AEGON picks up 'gap' Czech pensions business
[12:30 CET 28-11] CZECH REPUBLIC – AEGON’s Czech pension fund attracted 3,000 members in In the first three months of its existence, according to industry figures.
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Parliamentary pension fund too costly – German MPs
[12:00 CET 27-11] GERMANY – German MPs have agreed to increase in their retirement and make cuts in their pensions but have voted against the creation of a pension fund for members of the parliament, the so-called ‘Bundestag’.
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Promoting property as a pension is wrong - MetallRente
[16:30 CET 26-11] GERMANY – Plans by the German government to subsidise private property by way of supplementary pensions endangers the level of retirement provision, industry pension group MetallRente noted.
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Hewitt strengthens presence in Austria
[11:00 CET 23-11] AUSTRIA – Hewitt has signed a co-operation agreement with the Austrian firm ‘Benefit Consulting’ to increase its exposure in Austria.
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Pension increase ‘not helpful’ for second pillar - consultant
[15:00 CET 22-11] AUSTRIA – Raising the state minimum pension and telling voters a raise of retirement age was ‘not necessary’, and is not helping to further develop second pillar retirement provision, Peter Prandstätter, managing director of Benefit Consulting, has told IPE.
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Poland urged 'open foreign investment and prevent crash'
[11:30 CET 21-11] POLAND – Current restrictions on pension funds for investment in foreign equities and the use of derivatives could lead to a crisis on the Warsaw stock exchange, Krzysztof Rybiński, deputy president of the National Bank of Poland, has warned.
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Pensionsfonds gain more freedom
[13:30 CET 20-11] GERMANY – The German Parliament has approved changes to the insurance law which will give Pensionsfonds greater leeway in dealing with underfunding.
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IPE Awards: ABP/Cordares will bring new ideas to Italy – Frijns
[16:00 CET 16-11] NETHERLANDS/ITALY – The Italian pension fund industry could develop more towards the Dutch model, Jean Frijns, consultant to the Norwegian Government Pension Fund, has suggested.
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IPE Awards: "Diversification may turn to contagion" warning (Updated)
[13:00 CET 16-11] GLOBAL - Increasing globalisation means correlations between markets and returns of asset classes change frequently, Sudhir Rajkumar, head of the Pension Investment Partnership at the World Bank, has warned.
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IPE Awards: Fiduciary managers make market 'fairer' – Frijns
[16:30 CET 15-11] EUROPE – Smaller pension funds will gain easier access to alternative asset classes thanks to fiduciary managers, Jean Frijns, consultant to the Norwegian Government Pension Fund, has suggested.
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Signing up to ESG is not enough - UNPRI
[15:00 CET 15-11] GLOBAL – The United Nations' Principles for Responsible Investment (PRI) should filter through a signatory company and right through to the companies invested in, James Gifford, executive director at the UNPRI has urged.
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£718m fund extends BNY Mellon brief
[15:45 CET 14-11] UK – The £718m (€1bn) local authority pension fund of the London Borough of Islington has renewed a global custody mandate with Bank of New York Mellon for another two years.
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Pan-Euro funds should not be competitive - Gabellieri
[15:30 CET 14-11] EUROPE – There should be one EU legal framework with national varieties instead of various European countries rivaling for the best location to domicile pan-European pension funds, suggests Bruno Gabellieri, secretary general of the European Association of Paritarian Institutions of Social Protection (AEIP).
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Markets feed further DB surplus growth – PPF
[14:00 CET 14-11] UK – The UK's defined benefit pension funds had a collective surplus of around £53bn (€75bn) surplus at the end of October, the most recent index published by the Pension Protection Fund (PPF) has revealed.
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IPE-QUEST: $90m Swiss equity mandate
[13:00 CET 14-11] SWITZERLAND – A Swiss institutional investor is looking for a global sustainable equity manager via IPE-Quest.
