PKE goes on-line
A Swiss pension fund is due to publish quarterly performance figures on the internet and could move to monthly and even daily re-ports.
Franz Winkler, head of portfolio management at the Zurich-based PKE (electricity utilities) pension fund says: It is not our money. It is pension fund money and all the people have a right to know what we do."
The fund will publish information on in-house and external managers. "We want to put on what holdings we have on our own portfolio and for the managers in the different fields, what are they doing, what is their performance, what kind of volatility they are showing." Winkler continues: "If we can further enhance the links from our computers to the in-ternet, then we will do it on a monthly basis and I can imagine do-ing it on a daily basis at a later date."
The internet should also ease pressure on officials to answer inquiries.
"It is not only from members but also from banks. They ask what kind of strategy we have and what tactical weightings and this can happen about 20 times a week. The internet answers general questions and if they need more depth we can talk to them,"
The internet address, when the site is operational, is http//www.pke.ch."