Funding – Page 132
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News
NPRF to increase holding in BoI to 36%
IRELAND – The National Pension Reserve Fund (NPRF) is set to increase its investment in the Bank of Ireland to up to 36% of ordinary stock capital, as part of the bank's plan to raise equity to meet new capital requirements set out by the financial regulator.
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Finnish pension insurers reap equity rewards
FINLAND – Finnish pension insurers continue to benefit from increased allocations to equities, particularly domestic stocks, as both Veritas Pension Insurance Company and Tapiola Pension post three-month returns of more than 4%.
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Alecta’s returns 3.4% for Q1 and cuts costs
SWEDEN - Swedish pension provider Alecta returned 3.4% for the first quarter of 2010, marking a significant improvement on its negative performance for the same period last year, but also below its five-year average.
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Positive returns push Publica above full funding
SWITZERLAND – The CHF 32.5bn (€22.7bn) Swiss Publica fund returned 10.13% in 2009 but is planning some organisational changes.
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IMF predicts Russian pension fund growth
RUSSIA – The International Monetary Fund has stated expects private pension funds “to grow rapidly” in Russia as pension benefits increasingly become part of salary packages.
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Finnish equity investment drives Varma Q1 returns
FINLAND – Domestic equity investments boosted Varma's return on listed equities to 9.7%, to feed into a 4.2% overall return in the first quarter of this year.
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News
Real estate lowered Swiss returns in 2009
SWITZERLAND – Calculations conducted by State Street suggest Swiss pension funds returned in 2009 were driven as a result of equity returns but lowered by real estate.
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NewsPfZW investments return 5% in Q1
NETHERLANDS – Structured credit and the inflation and interest rate hedging mandate helped drive Pensioenfonds Zorg en Welzijn (PFZW) to a 5.2% return in the first quarter of 2010.
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NewsInterest rate pressure keeps PME and PMT cover ratios down
NETHERLANDS - PMT and PME, the industry-wide pension funds for Dutch metal workers, saw their cover ratios drops from 100% to 98% and 99% respectively in the first quarter of this year, despite strong gains from equities and fixed income.
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NewsNordic equities drive Fennia performance
FINLAND - Finnish pension provider Eläke-Fennia returned 3.6% in the first quarter of this year and its equities holding returned 10.1%, driven by Finnish and other Nordic markets.
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News
TNT returns lift need for short-term recovery plan
NETHERLANDS - The €4.9bn TNT postal pension fund returned 16.8% on investments last year and has topped that up with an additional 6.6% earned during the first quarter of 2010, so there is no longer immediate pressure from a short-term recovery plan.
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News
Harbour workers accept settlement in Optas pensions dispute
NETHERLANDS - The representative body of Dutch harbour workers (SBPVH) said it has settled its financial dispute with the Optas Foundation concerning the ownership rights to a harbour pension plan.
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NewsIlmarinen sets a trend for positive returns in Q1
FINLAND – The start of this investment year has continued with the same positive spirit as 2009 for Finnish pension insurer Ilmarinen, as it returned 5% in the first three months of the year.
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NewsLPFA says proposed LGPS Commission would not take on investment strategy
UK – Local authorities could retain control over investment policy but would need to adopt standard guidance on valuation assumptions, under proposals for an independent commission for local government pensions put forward by the London Pension Fund Authority (LPFA).
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NewsIrish DB trustees handed funding deadline reprieve
IRELAND – Trustees of defined benefit (DB) schemes have been given an extra five months to file funding proposals and applications to reduce benefits to enable them to take into account recent regulatory changes including the ability to raise retirement ages with immediate effect.
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NewsIcelandic schemes to learn from financial crisis
ICELAND – Stricter demands on brokers and asset managers and increased involvement in shareholder meetings are among the recommendations for pension funds put forward by an IPFA committee investigating lessons learned from the financial crash.
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Swiss funds returned over 2.3% in Q1
SWITZERLAND – Preliminary calculations by Credit Suisse suggest Swiss pension funds delivered a 2.32% return in the first quarter and surprising asset allocation revelations while Swisscanto's research could show there has been a significant funding level increase.
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News
FTK parameters could cost extra 50% in contributions - VB and OPF
NETHERLANDS - The new parameters for the financial assessment framework FTK, as proposed by social affairs’ minister Piet Hein Donner, could require a 50% rise in contributions, the pensions bodies VB and OPF have claimed.
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News
Austrian funds return 3% in Q1
AUSTRIA – Austrian Pensionskassen could be heading for a good annual result, the pension fund association FVPK has suggested, as the funds returned an average 3% on investments in the first quarter of this year.
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Housing pension SPW gained 13.8% in 2009
NETHERLANDS - The €5bn pension fund for the housing corporations (SPW) has returned 13.8% on investments last year, its preliminary figures suggested.
