Returns – Page 144
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Swiss funds shying from their core business – Profond
SWITZERLAND – Swiss Pensionskassen are shying away from longevity risk by outsourcing pensioners and switching to DC, a trend criticised by Herbert Brändli, head of the multi-employer fund Profond.
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Minister defends lower FTK parameters
NETHERLANDS – Dutch pension contributions can remain at the same level for the short term for most funds following a decrease in the upper limits for forecast returns, according to social affairs minister Piet Hein Donner.
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Only 1 in 10 Swiss funds has sufficient buffer – Swisscanto
SWITZERLAND – The majority of Swiss pensions funds have recovered to full funding levels, but only 10% have repaired their buffers, according to Swisscanto.
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Overseas equities drive up Icelandic pension assets
ICELAND – Net pension fund assets at the end of March increased by approximately ISK44bn to ISK1.846trn (€11.3bn) as the value of foreign equity investments increased, figures from the Central Bank of Iceland have revealed.
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Japanese equities help Belgian schemes post positive Q1 return
BELGIUM – Pension funds in Belgium delivered an average return of 4.4% in the first quarter of 2010, according to a study by Mercer.
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Swedish roundup: KPA, Folksam, Länsförsäkringar, SIFA
SWEDEN - Swedish pension providers have continued to show positive numbers for the first quarter.
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German employers propose simplified solvency levy
GERMANY – The German federation of employer representatives (BDA) is suggesting a simplified alternative to its proposal for a risk-based levy to the German pension insolvency fund PSV.
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NewsTNO scheme returns 6.2% in first quarter
NETHERLANDS - The €2.1bn pension fund of the applied technical research institute TNO returned 6.2% on investments during the first quarter of 2010.
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NewsUK roundup: Marks & Spencer, J Sainsbury, BT Group
UK – Marks & Spencer and J Sainsbury have announced agreements to help cut the deficit in defined benefit pension schemes through property partnerships. Elsewhere, BT has reported an increase in its pension deficit on an accounting basis.
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Norway reduces drawdown of oil funds as economy improves
NORWAY – In a revision of Norway's fiscal budget for 2010 the government proposes to reduce the use of petroleum revenues by NOK17bn (€2.18bn) compared to the approved budget as economic activity has picked up.
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FRR assets grow 25% in 12 months
FRANCE – Fonds de Réserve pour les Retraites (FRR), France’s national pension reserve, has seen its strong growth of 2009 continue into the first quarter of 2010, posting a return of 2.6% for the three-month period.
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ABP ups risk focus as cover ratio drops to 102% in April
NETHERLANDS - ABP, the large civil service pension fund, saw its assets increase to a record level of €220bn in 2009, on the back of a return of 20.2%, and an additional 6% in the first four months of 2010. The fund is also to tighten its risk management and ...
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Increased de-risking may drive up buyout costs
UK - Pension funds could face soaring costs for buyouts as interest in pension scheme de-risking increases, an actuarial consultancy has warned.
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NewsUK funding update: April put DB schemes into deficit
UK – The funding position of around 7,400 defined benefit (DB) schemes deteriorated by approximately £2.5bn (€2.91bn) in April, according to latest figures from the Pension Protection Fund (PPF).
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NewsUK roundup: Environment Agency, Merseyside, Aviva
UK – The Environment Agency Pension Fund is seeking one or more managers to run an emerging market equity portfolio for the scheme.
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BVV to diversify through commodities
GERMANY – The €20.9bn BVV Pensionskasse for German banks saw returns from its bond-heavy portfolio drop last year and is now seeking to increase its diversification by investing in commodities.
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NewsUK trustees must engage with overseas parents
UK – British pension funds with sponsoring employers owned by an overseas parents need to engage directly with the latter on funding issues instead of relying on The Pensions Regulator (TPR) to bail them out, Lane Clark & Peacock (LCP) has warned.
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NewsFinnish state pension welcomes EU bail-out
FINLAND - Valtion Eläkerahasto (VER), the Finnish State Pension Fund, has welcomed the €750bn stabilisation package for the EU region, after reporting a first quarter return of 5.3%.
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NewsSwedish roundup: AP7, solvency levels, Q1 performance, AMF survey
SWEDEN – AP7, the national buffer fund with a mandate to manage assets within the Swedish premium pension system (PPM), will close its premium choice (Premievalsfonden) and default (Premiesparfonden) funds this month and begin managing two new low-cost equity and fixed income funds.
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Finland referred to ECJ over pension tax rules
FINLAND – The European Commission has referred Finland to the European Court of Justice for failing to address legislation that discriminates against foreign pension funds.
