Investor Strategy – Page 119
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News
Younger Swedes face lower pensions income
SWEDEN - Swedes born in the 1980s and 1990s can still expect receive a total pension income worth 60-65% of their final salary, yet this is substantially lower than those born in the 1930s and 1940s, according to a survey by pension provider Folksam.
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DC governance needs to develop globally - State Street
GLOBAL – State Street has claimed defined contribution (DC) regulations and fiduciary oversight need to develop in a global rather than national context as the shift from defined benefit (DB) to DC continues.
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News'Packaged passive' investment could address DC risk - study
EUROPE – Members of defined contribution pension schemes might in future be more confident about their investments if strategies were based more around “packaged passive funds”, suggest panelists contributing to a DC study.
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NewsSwedish roundup: AP1, Pensions performance, SIFA, Member knowledge
SWEDEN - The equities team at AP1, one of the Swedish national buffer funds, has been strengthened with two new hires. The appointments take the number of portfolio managers to five, divided into Swedish and European teams.
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Alvoso wins latest Ascoop leaver
SWITZERLAND – The exodus from the heavily underfunded Ascoop transport pension fund is continuing with the Auto AG Schwyz joining the small collective fund Alvoso.
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SPMS considers APG and BlackRock as new providers
NETHERLANDS - The €5bn pension fund for Dutch medical consultants, SPMS, is planning to swap its present pension provider and asset manager Doctors Pension Funds Services (DPFS) for two larger players.
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News
Irish DC pension members show more caution than DB trustees
IRELAND – Irish defined contribution investors are still more cautious about investing their pension assets than defined benefit trustees, but have yet to follow the trend of moving towards passive investment, suggests evidence presented by the Irish Association of Pension Funds (IAPF).
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Enhanced allocation: the cherry on top
EUROPE - A portfolio’s returns are determined primarily by strategic asset allocation (SAA). On top of that, active managers may try to generate some extra returns by means of tactical asset allocation (TAA).
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PGGM proposes equity cutback for engagement reasons
NETHERLANDS - PGGM, the pension asset manager for healthcare and related industries, will suggest to clients including the PFZW health and welfare pension fund that they invest in fewer companies or adopt an exclusion policy.
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News
USS assigns managed account ahead of new strategy focus
UK – The £29bn (€32.9bn) Universities Superannuation Scheme (USS) has awarded a hedge fund-related $1bn (€740m) advisory managed account (MAC) mandate to Man Group.
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News
European pension funds continue to shun equities
EUROPE - Pension funds across Europe are continuing to shy away from equity investments despite last year’s recovery of the global equity market.
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Donner to give pension funds more leeway on recovery
NETHERLANDS - Dutch pension funds will be given more time to submit recovery plans during times of financial crisis, so they can avoid the effects of volatile markets.
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Dutch pensions industry warns of 'communications bottleneck'
NETHERLANDS - The Dutch pension sector is becoming increasingly worried about the effectiveness of pensions communication when it comes to explaining new pension contracts to their participants.
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NewsDutch pension bodies call on government to limit reforms
NETHERLANDS - The Dutch pension fund lobbying organisations have called on a new Dutch government to hold back from adding further pension regulations, as fundamental system changes would be seen as risky to an already under pressure sector.
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Donner seeks to dissuade from allowing pensioner board members
NETHERLANDS - Social affairs’ minister Piet Hein Donner has advised Parliament against allowing pensioners onto the board of industry-wide pension funds at this time.
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News
Swiss Migros sticks to DB but changes pension parameters
SWITZERLAND – The Swiss retailer Migros has decided to maintain a defined benefit scheme in its Pensionskasse but increase the retirement age.
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NewsUK DC schemes increase focus on specialist funds
UK – A third of defined contribution (DC) schemes in the FTSE 100 have altered their investment strategy in the past year, and included a greater use of more specialised investment funds.
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NewsDutch retirement age rose sharply in 2007
NETHERLANDS - The average retirement age of Dutch workers quickly rose by one year to 62 in 2007, according to Statistics Netherlands (CBS).
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NewsNorway proposes reduction of active management for Global fund
NORWAY - The ministry of finance in Norway proposes to reduce active management for the country’s giant NOK2.76trn (€342bn) Government Pension Fund Global.
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News
German SMEs see declining pension interest
GERMANY – Only half of German employees show some or considerable interest in occupational pensions, a Standard Life survey of 270 companies has found. The number is down from 64% last year.
