Asset Allocation – Page 240
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Features
Bank of Ireland's 'mission statement'
The €2.85bn Bank of Ireland Staff Pensions Fund (BSPF) is the main fund for the Bank of Ireland Group, covering 75% of the employees of the Bank of Ireland Group. Its 13,500 members, of which just under 10,000 are active members, include employees in the Republic of Ireland and the ...
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Features
Focus on IT developments has been key part of strategy
AP7 has won an IPE Country Award for fund structure and administration in Sweden. The AP7 national fund is the default fund of the Swedish PPM system set up two years ago. Since then, the developments within the PPM system and the AP7 fund itself have been closely followed by ...
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Features
Being a second-time winner underpins the success of strategy
Fonditel continues to be one of Spain’s strongest pension gestoras, winning for the second year, an IPE Award for the investment strategy of one of its pension funds – Fonditel B. This covers pension provision for employees of 25 companies affiliated to the Telefónica group. Fonditel B has assets under ...
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Features
Belgacom takes development to the next stage
Belgacom, the largest pension fund in Belgium, had e3.3bn in pension assets at the end of 2002. Structured as a DB fund for 31,621 employees, it promises its members 75% of final salary with benefits linked to inflation. The benefits covered include social security pensions, a special early retirement programme ...
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Features
For Belgacom governance is key
Belgacom, the largest pension fund in Belgium, is structured as a DB fund for 31,621 employees, it promises its members 75% of final salary with benefits linked to inflation. The benefits covered under the scheme include social security pensions, a special early retirement programme (PTS), disability pension, and, from the ...
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Features
PRO-BTP cornerstone of benefit structure
PRO-BTP is an organisation for the French construction industry, which runs the complementary system of social protection, insurance and pensions for over 3m people who belong to the BTP – ‘batiments et travaux publics’. The organisation was set up in 1993 by the social partners as a paritarian, non-profit making ...
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Features
Diageo keeps benefits flowing
Diageo’s £2.9bn defined benefit scheme comprises eight membership categories: three non-contributory sections (closed since 1988); two main contributory sections (Silver and Gold); and three executive sections (two contributory, one non-contributory). The scheme has a total of 70,700 members and is open to all permanent, temporary or casual employees of the ...
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Features
Boots win highlights shift to risk management issu
The move made by the Boots pension fund in the UK to shed all its equities and to do so before the severe declnes in the market have provoked considerable comment in the market. It is clearly one of the funds, and perhaps the most clearcut example, of the general ...
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Features
Finns cross boundaries
This has been the year when asset liability management reasserted itself in Finland in the light of difficult markets and the need to meet tight solvency regulations. While the investment trends that became apparent at the time of the euro introduction are still evident, the focus has clearly shifted to ...
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Features
BPMT finds the perfect inflation match
BPMT is the Netherlands’ third largest pension fund for the metal industry. In common with other Dutch defined benefit pension funds, the biggest risk it faces is inflation, since its liabilities are index-linked to prices. This impact of inflation on a pension fund can be huge and can be costly. ...
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Features
Novartis shifts from 'bricks and mortar'
The SFr16.8bn (e11.4bn) pension scheme of Swiss pharmaceutical giant, Novartis, holds real estate assets that comprise 12% of the fund’s assets. Earlier this year, it completed a major transition in the approach to its property portfolio, which allowed the fund to maintain its exposure to this asset class, while enabling ...
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Features
Inarcassa builds on strong pillars
Inarcassa is the e2bn pensions and social assistance fund for Italy’s self-employed engineers and architects and has approximately 100,000 members. The fund’s asset allocation strategy is designed to take into account hypothetical situations looking at the long-term risk/return balance and all potential investments. It must also consider risk tolerance, return ...
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Features
Centrum PensPlan's seal of quality
Centrum PensPlan is the company set up to develop all the necessary operations for the regional Trentino Alto Adige’s supplementary pensions provision project. It also has a mandate to offer economic support by helping people in temporary financial difficulty make their fund contributions and provide adequate guarantees concerning the retirement ...
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Features
New government faces reform challenge
After its predecessor’s failure to push through a package of pensions reforms, the new government that took power in June will be trying again. The June elections once again returned a centre-left Czech Social Democratic Party (CSSD)-dominated government. Unlike its predecessor, a minority administration that relied on the tacit support ...
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Features
Investing in a cold climate
Three years of falling equity markets in Sweden have acted like a cold shower for the institutional asset management in Sweden and their pension fund clients: initially acting as a shock to the system, but ultimately invigorating. Fund managers have shivered but emerged fitter from the experience. Many of the ...
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Features
CNA combines three into one
The pension plan for employees of Spain’s Central Nuclear de Almaraz, AIE, is the only one connected to the Santander XXV pension fund, and had 530 members and beneficiaries and an asset base of €11.6m. The scheme resulted from an agreement to transform three collective insurance funds – capitalised pension ...
