EUROPE- IPE Magazine has announced the winners of its 2002 pension fund awards for both “investment strategy” and “fund structure and administration”. Entrants were judged by selected panels of experts selected country by country.

In the investment strategy category, the winners are as follows. In Austria, APK and VPK, the country’s largest multi-employer fund, take joint honours as the judges gave them equal scores. The telecoms fund Belgacom picked up the award for Belgium while Industriens Pension takes the award for Denmark.

In France, PRO BTP takes the award while Okobank comes away, for the second consecutive year, with the highest accolade for Finland. Siemens is Germany’s winner, the Bank of Ireland fund, Ireland’s and Inarcassa, Italy’s.

The Netherlands prize did not go to those large and better-known funds but to BPMT, one of the MN metalworkers schemes. In Spain Fonditel took top prize for the second year, as did Sweden’s third national fund, AP3.

Novartis prevailed in Switzerland while in the UK, the London Pensions Fund Authority and the Boots scheme, much publicised for its timely switch into fixed income, were both granted the award for best investment strategy.

In the fund structure and Administration category, VPK picks up the prize for Austria. Belgacom is clearly getting it right as it claims the award for the second year, albeit shared with Le Fonds de Pension Metal.

PBU, the teachers pension fund, takes the honours in Denmark and TotalFinaElf for France. MetallRente and Nestle are joint winners for Germany. ESB, or the Electricity Supply Board, is this year’s winner for Ireland as is PensPlan Centrum for Italy, PGGM for the Netherlands and Central Nuclear de Almarez for Spain.

Another National fund, this time AP7, takes the award f or best fund structure and administration in Sweden, BVK and SwissAir/PFS are winners in Switzerland while Diageo takes the UK award for the second year.

For both categories, each country leader's submission will automatically be entered for the category of European Leader. Last year’s winners for best investment strategy in Europe were ABP and Belgium’s VHG/CPM while Diageo and Belgacom took home the prize of best fund structure and administration in Europe.

European Leaders will be announced for the first time at the IPE awards dinner in Amsterdam on 13 November 2002.


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