Euro drop surprises funds
Just under a half of pension funds surveyed for IPE’s new ‘Off the record’ feature (see page 64) were surprised by the drop in the euro value against the dollar since its launch, while 52% of funds say they were not.
Over a fifth of funds reckoned the euro’s decline would be beneficial to their funds’ investments, while a slightly smaller proportion thought they would be adversely affected. But some 55% were adamant that they would not be affected at all.
A half of pension funds responding to our e-mail survey, said that the crisis in Kosovo would not affect their fund, while 25% thought it would have an effect, while the remainder said they did not know.
There is strong support for the European Commission’s moves on pensions, where nearly 60% felt that a directive was required. Around a qurter of those replying thought thies was not needed.
As to whether the emergence of the jumbo financial groups in France or cross border mergers such as that between Deutsche Bank and Bankers Trust would be good for them, the overwhelming response came from agnostics (49%), with only a paltry 14%, seeing them as beneficial.