Returns – Page 172
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News
More scaling back at loss-making Aegon
[16:15 CET 17-02] NETHERLANDS – Dutch life insurance, pensions and investments giant Aegon today revealed the firm lost €1.2bn in Q4 2008 and is now planning redundancies.
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News
UNJSPF lost quarter of its value in 2008
[16:00 CET 17-02] GLOBAL – The United Nations Joint Staff Pension Fund (UNJSPF) lost over $10bn (€7.8bn), around a quarter of its fund value, to end 2008 at $31.37bn.
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NewsTapiola and Varma figs show hedge fund impact
[15:00 CET 17-02] FINLAND – Final year figures from Varma and Tapiola have highlighted the impact of investment strategies, in particular the use of hedge funds, in 2008.
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News
Union Investment loses assets but gains clients
[17:10 CET 16-02] GERMANY – German asset manager Union Investments saw its assets under management drop by €31bn last year even though it gained 30 new institutional clients.
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UK considers switch to DC for ministerial pensions (amended)
[17:05 CET 16-02] UK – Gordon Brown has ordered a review of final salary parliamentary pension arrangements which could see ministers moved into a defined contribution scheme.
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NewsTNT fund in the red
[16:55 CET 16-02] NETHERLANDS – The pension fund of Dutch postal firm TNT has become the latest scheme to blame falling interest rates for much of its new underfunded status.
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News
Eureko gets €1bn capital boost
[16:45 CET 16-02] NETHERLANDS - Eureko’s capital position has been bolstered with a €1bn capital injection from its major shareholders Achmea Association and Rabobank Group, and talks could resume in the row concerning Poland’s PZU.
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NewsOxford drops TAA over poor performance
[17:00 CET 13-02] UK – Oxfordshire County Council has confirmed its £913m (€1.03bn) pension fund has disinvested from the Tactical Asset Allocation (TAA) strategy run by UBS following poor performance.
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NewsBT sees March surplus reverse into deficit
[16:55 CET 13-02] UK – The UK’s largest pension fund has seen its assets shift under IAS19 accounting rules from a technical surplus of over £2bn (€2.16bn) in March 2008 into a deficit of £1.7bn by the end of last year because of the swing corporate bond pricing, according to ...
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News
Alecta drops 7.4% in 2008
[16:35 CET 13-02] SWEDEN – Alecta pension fund has reported a loss of 7.8% in 2008 although it claimed asset diversification had limited the decline in its portfolio.
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NewsMetallRente grows assets in difficult year
[12:00 CET 13-02] GERMANY – The MetallRente pension provider saw its assets grow by 4% to €1.4bn in a year when its Pensionsfonds posted a negative return of -16.1%.
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NewsThree Swedish pension funds report 'red light'
[17:00 CET 12-02] SWEDEN – The Finansinspektionen (FI), the Swedish Financial Supervisory Authority, has confirmed the buffer capital of Swedish pension funds declined at the end of 2008, and three funds reported a 'red light'.
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News
OECD calls for pension expansion despite $5.4trn loss
[16:55 CET 12-02] GLOBAL – Private pensions across the world lost $5.4trn between January and December 2008, up from $5trn in October 2008, driven mainly by returns on US pension funds, according to figures from the Organisation for Economic Cooperation and Development (OECD).
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NewsRolls-Royce may inject cash despite pensions surplus
[16:40 CET 12-02] UK – Rolls-Royce, the engine manufacturer, has today revealed it may need to contribute even more to its defined benefits (DB) pensions arrangements over the coming year even though pension fund was technically in surplus under IAS19 accounting.
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NewsNPRF contributions to fund €7bn banking rescue (amended)
[13:30 CET 12-02] IRELAND – The Irish government has confirmed rescue of the banking sector will be financed through both existing National Pension Reserve Fund (NPRF) assets and contributions which would have been paid to the State pension fund over the next two years.
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News
Finnish funds fall an average 14%
[12:00 CET 11-02] FINLAND – The Finnish Pension Alliance TELA has revealed Finnish pension funds decreased in value by 14% last year as a result of their high exposure to equities.
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News
Jobs go as AP1 alters asset management model
[10:45 CET 11-02] SWEDEN – Första AP-fonden (AP1), the first Swedish national pension Fund, is making 20 people redundant and changing its asset management model, in response to the credit crunch, to focus on strategic asset allocation.
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News
VER may take 10% of local commercial paper
[16:30 CET 10-02] FINLAND – Valtion Eläkerahasto (VER), the state pension fund, has increased its allocation to commercial paper markets by €100m in February, although government plans to use it to help boost the economy could see it taking a 10% share of the market.
