Markets – Page 135
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NewsDenmark's PFA acquires Cantobank from Finansiel Stabilitet
DENMARK – Pension fund to run bank as investment provider targeting existing clients.
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High yield now a 'strategic asset class', says UBP
EUROPE – Director says pension funds to use high yield for tactical asset allocation only.
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London council proposes collective vehicle as merger alternative
UK – Retaining status quo of individual management ‘not viable alternative’ to mergers.
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NewsCollective DC in UK would require 'radical' legislative changes
UK – Towers Watson uncertain whether CDC would aim for scale rather than simply pool risk.
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NewsDeutsche Bahn pension fund cites onerous regulation for merger decision
GERMANY – Managers say single Pensionskasse 'can no longer cope' with EU regulation.
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NewsDutch pension funds should promise less, young workers say
NETHERLANDS – PensionsLab also claims discount rate has had opposite effect intended.
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Fund managers ignore industry shift towards passive 'at their own peril'
GLOBAL – Stability seen in industry in recent decades ‘coming to an end’, says Principal CEO.
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NewsSmall-scale DC pension funds should be 'discouraged', Irish watchdog says
IRELAND – Comments come after Board says country should have no more than 100 DC funds.
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NewsUK roundup: KPMG on LDI, Lloyds TSB Pension Scheme
UK – Liability-driven investment market grows by 11% year on year, study shows.
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NewsSwiss court to decide on raft of appeals in BVK corruption trial
SWITZERLAND – Both winners and losers appeal five of six verdicts handed down last November.
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NewsIrish government to sever ties between NPRF, pre-funding liabilities
IRELAND – Equity, bond holding to be divested as government launches Ireland Strategic Investment Fund.
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NewsDC pension plans should prioritise income risk – experts
NETHERLANDS – Pension funds wishing to switch from DB to DC could get 'best of both worlds'.
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NewsAPG unveils administration system for DC plans, PPIs in Netherlands
NETHERLANDS – Clients free to select own insurers, asset managers, APG says.
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Polish prime minister rules out nationalisation of second pillar
POLAND – Donald Tusk still highly critical of ‘imperfect, unacceptable’ system.
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NewsTraditional investing principles 'not fit for purpose', institutionals say
GLOBAL – Nearly 90% of survey respondents in US say traditional practices have 'outlived usefulness'.
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NewsEuropean Commission laments widening gender gap in pensions
EUROPE – At 39%, pension gap much larger than 16% gender pay gap, study shows.
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PensPlan launches 'minibond' fund for SME corporate bonds
ITALY – Minibonds created to give SMEs alternative source of finance as lending dries up.
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ISP Pension outsources 'all activities' to AP, but retains independence
DENMARK – Pension fund for engineers cites growing importance of economies of scale.
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NewsSwiss pension funds turn backs on securities lending market
SWITZERLAND – Schemes cite 'unattractive' risk/reward, conflicts of interest with borrowers.
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NewsInquiry into Swedish PPM system produces opposing recommendations
SWEDEN – DC pension system should be 'left intact', or number of funds cut 'dramatically'.
