Asset Allocation – Page 196
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Features
Norway's funds take stock
Norway’s hard-pressed life insurers and pension funds have enjoyed a brief respite over the past year. This has been provided by the Norwegian stock market which, helped by rising oil prices, has strongly outperformed international equity markets. Norwegian equities rose 25% in the first nine months of 2004 and 120% ...
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Features
Pooling power and fears for the Swiss second pillar
A London conference on pension pooling learnt that not only could the market be worth up to a trillion euros over time – but that the technique might even be a way for corporate schemes to take trustees out of the loop. “We’re talking about very big asset pools,” Willie ...
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Features
Playing safe in Europe
The strengthening euro and the poor prospects for Euro-zone growth have combined to create a condition among Euro-zone equity investors which Rick Lacaille, chief investment officer at State Street Global Advisors (SSgA), describes as “Eurogloom”. “At the start of the year, analysts had generally been too optimistic by an ...
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Features
EMD grows to maturity
Emerging market debt (EMD) has certainly hit the headlines in recent years. Argentina defaulted in 2001; in January 1999 in Brazil the real was devalued by 40%; Russia restructured its debt in 1999, while in 1997 the Asian crisis saw a collapse in investor confidence spread among the region’s countries. ...
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Features
In the sky with diamonds
The pension fund of Dutch national airline KLM was launched 70 years ago to provide pensions for its pilots, cabin crew and ground staff. There are three distinct funds to cater for the different and mostly very individual needs of the three groups of employees. At the end of last ...
