All articles by Jan Wagner – Page 23
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Germany confirms real estate stress tests
GERMANY – Financial services regulator BaFin has confirmed that it will include direct investments in real estate in so-called “stress tests” for German life insurers and certain pension funds.
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Allianz Global sees Europe, Asia pensions boost
GLOBAL – European and Asian pension funds will remain the growth drivers for Allianz Global Investors’ pension business, according to chief executive Joachim Faber.
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Germany’s ZF taps Allianz for DC advice
GERMANY – Auto component maker ZF Friedrichshafen is to take advice on two new defined contribution pension plans from consulting firm Allianz Pension Partners.
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Dresdner Bank in €1.8bn pension CTA move
GERMANY – Dresdner Bank has joined dozens of other multinationals by outsourcing pension liabilities so that they are funded by a contractual trust arrangement (CTA).
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Swiss government approves first-pillar reforms
SWITZERLAND – The Swiss government has given final approval to several major first-pillar reforms, including equalising the legal retirement age for men and women and reducing the legal amount of the reserve fund for the state pension scheme.
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Allianz Global Investors sets up Luxembourg arm
EUROPE – Allianz Global Investors has founded a subsidiary in Luxembourg from which it plans to bolster its European presence, especially where investment funds are concerned.
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German pension association Aba rejects DC
GERMANY – Germany’s occupational pensions association Aba has come out against the proliferation of defined contribution plans in Germany, arguing that DC creates new risks for employers and is ineffective.
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Study rejects retirement asset meltdown theory
GLOBAL – The retirement of the baby-boom generation from 2010 will not result in a capital market meltdown, according to a new study.
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Allianz’s DEGI cuts German real estate holdings
GERMANY – Real estate fund provider DEGI plans to cut the German holdings of its core German fund, after the fund was hit by €271.5m in net outflows in the first 11 months of this year.
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Germany’s FERI to expand into Switzerland
GERMANY – FERI Institutional Advisors plans to break into the Swiss institutional market sometime in 2006, according to Arnd Thorn, who took over as FIA’s chief executive last August.
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German funds react to inflation-linked bond plans
GERMANY – German pension funds have been reflecting on the news that Germany plans to issue its first ever inflation-linked bonds in the near future.
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DeAM, Trinkaus in running for Henkel CTA
GERMANY – Industry sources say Deutsche Asset Management and HSBC’s Trinkhaus Capital Management may be in line to advise chemicals firm Henkel on its planned contractual trust arrangement – an external fund to finance more than €1bn in pension liabilities.
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Valais canton boosting civil service schemes
SWITZERLAND – The government of the Swiss canton of Valais has unveiled a set of measures aimed at improving the poor financial health of two pension schemes that serve teachers and civil servants in the region.
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Study finds pension funds are fickle
EUROPE – Pension funds are the most fickle of all European institutional investors when it comes to asset managers, according to a new study.
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Siemens hit by pension costs
GERMANY – Siemens AG has confirmed that its pension costs in its current business year may rise by 15% as a result of a reduction in its Rechnungszins – a figure used in calculating how pension obligations can be met.
