All articles by Jan Wagner – Page 21
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News
BMW denies CTA pension plan
GERMANY – Car maker BMW has denied that it plans to announce next month the creation of a contractual trust arrangement (CTA) to fund up to €2.6bn in pension liabilities currently on its balance sheet.
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Features
MetallRente records double-digit sales growth
MetallRente, the pension fund for employees in Germany’s metalworking and engineering industries, has recorded another year of double-digit growth in sales of its corporate pension. As of December 31 last year, MetallRente says it insured 155,417 workers in the sectors, an increase of around 15% on the previous year. The ...
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News
Swiss schemes post best returns since 2000
SWITZERLAND – Swiss pension funds have finished 2005 with a return on assets of 13% - their best result since 2000, when Swiss pension fund association ASIP began disclosing their annual performance.
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Trustee blamed for Fribourg scheme woe
SWITZERLAND – A special commission investigating the financial problems of a pension fund for civil servants in the city of Fribourg has placed part of the blame for the scheme’s troubles on its former trustee.
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News
Lower Saxony’s €5bn AEVN hit by bond yields
GERMANY – The Ärtzeversorgung Niedersachsen (AEVN), a €5bn pension fund for physicians in Lower Saxony, has blamed low bond yields for its 5% return for 2005 – one of the lowest among European pension funds.
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News
€10bn German public scheme VBL streamlines
GERMANY – The Versorgungsanstalt des Bundes und der Länder, a €10bn pension fund for public sector employees, plans to streamline its operations to boost efficiency.
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News
SSGA takes on €2bn in new assets in Germany
GERMANY – State Street Global Advisors’ German arm says that since the beginning of the year, it has taken in €2bn in new assets – or the same amount for all of 2005.
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News
Austrian funds returned 11.4% in 2005 - FVPK
AUSTRIA - Buoyed by strong equity markets, Austrian pension funds finished 2005 with an average return of 11.4% on assets, according to fund association FVPK.
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News
German fund administrator BHW disappears
GERMANY – BHW Invest, an administrator of institutional funds launched in 2002, has disappeared from the market as a result of its recent takeover by BHF-Bank, a German private bank.
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News
Dexia AM to open Frankfurt office
GERMANY – Belgium-based Dexia Asset Management is to open a new office in Frankfurt by June in a bid to win business from German institutional clients, industry sources said.
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News
Aargauische Pensionskasse returns 13%
SWITZERLAND – Aargauische Pensionskasse (APK), a €3.2bn pension fund for Swiss civil servants, says a strong performance by its equity and commodities investments helped it achieve a 13% return on assets in 2005 – its best ever.
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News
German institutions seen exiting bonds
GERMANY – German institutional investors, which are highly exposed to fixed income, could this year hike allocations to riskier asset classes like equities and alternatives, says the asset management arm of private bank Sal. Oppenheim.
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News
Deutsche unveils €7bn outflows
GERMANY – Deutsche Bank’s asset management division, including private clients and institutions, was hit by €7bn in outflows during the fourth quarter of 2005.
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News
IBM to transfer German staff to DC plan
GERMANY – IBM’s campaign to slash worldwide pension costs has spread to Germany, with the computer giant aiming to save several hundred million euros by transferring 11,000 employees there from a defined benefit schemes to a defined contribution one.
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Features
Rules trigger CTA boom
To the delight of Germany’s asset management industry, the much-anticipated boom in corporate pensions finally happened last year. And as 2006 begins, it shows no signs of slowing. Interestingly, the type of boom is not what one would normally expect. While corporate pensions have spread dramatically since historic pension reforms ...
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Features
Germany plans inflation-linked bond issue
German pension funds have been reflecting on the news that Germany plans to issue its first-ever inflation-linked bonds in the near future. The government’s treasurer, Finanzagentur, has confirmed the plans. It did not say when the bonds would be sold, only that the government had empowered it to do so ...
