All articles by Barbara Ottawa – Page 56
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NewsGerman institutional investors 'unaware' they are under-diversified
GERMANY – Only 19% of institutional investors have a broad enough diversification across asset classes to mitigate risks, according to a risk management study commissioned by Union Investment.
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NewsSwiss roundup: SAP fund, funding levels, PKZH
SWITZERLAND – The Swiss subsidiary of SAP Group is reducing the buffers in its Pensionskasse and will allow its members participate directly in capital markets.
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NewsAustrian pension funds question value of master KAGs
EUROPE – Austrian pension funds APK and Bonus have questioned the benefits of using external providers and said they found it hard to trust them with risk reporting and other services.
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NewsBulgaria abandons plan to nationalise pension system
BULGARIA – The Bulgarian government has said it will abandon its plans to redirect funds from 'professional' pension funds into the first pillar, but it will withdraw some money for early retirees.
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NewsLiechtenstein establishes first pension fund association
LIECHTENSTEIN – The small principality of Liechtenstein, lodged between Switzerland and Austria, has created its first pension fund association, the Liechtensteinischer Pensionskassenverband.
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NewsIASB failing to prioritise IAS19, says International Actuarial Association
GLOBAL – IAS19 standards on pension fund accounting are not a top priority for the IASB at the moment, according to Paul Thornton, head of the International Actuarial Association (IAA).
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Features
German education funds a no-brainer
Germany has jumped on the bandwagon of education funds, with pension funds sensing an opportunity for uncorrelated returns above bond yields with an altruistic benefit. On average, a German student wanting to graduate from a private university needs €25-30,000, of which only a small proportion is covered by grants.
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NewsGerman roundup: Auxilion on second-pillar interest, Union Investment on Riester contracts
GERMANY – Pension agents in small and medium-sized enterprise are not doing enough to pique interest in second-pillar pension schemes and need expert advice, according to HR representatives.
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NewsSwiss roundup: Swisscanto, Credit Suisse, Melbourne Mercer
SWITZERLAND – Funding at Swiss Pensionskassen has returned to levels seen at the end of last year, according to a survey by Swisscanto.
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NewsGerman pension system falls short on sustainability, integrity
GERMANY – The German pension system is particularly lacking in the areas of sustainability and member communication, according to Mercer Germany.
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NewsBulgaria takes steps to pull funds from professional pension schemes
BULGARIA – The Bulgarian council of ministers has decided to stop contributions to professional pension funds from next year and eventually withdraw all accrued assets from the funds.
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NewsGerman province to discontinue MP fund
GERMANY – The German province of Saxony is thinking to discontinue a pension fund set up for regional MPs due to its inefficiency.
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NewsShareholder groups thinking to join US class action against UBS
GLOBAL – Swiss shareholder groups Ethos and Actares are considering to join a US class action against Swiss bank UBS.
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NewsSwiss roundup: Complementa MBO, Swiss BVK scandal
EUROPE – Swiss consultancy Complementa has sold part of its German business to a former board member.
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NewsReturn for Swiss pension fund index fails to meet required minimum
SWITZERLAND – The Credit Suisse Pensionskassenindex increased by nearly 2.5 points, or just over 2%, in the third quarter, yet the return failed to meet the legally required minimum rate, according to Credit Suisse.
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News
Mercer warns of funding issues at German blue-chip pension schemes
GERMANY – Underfunding in German blue-chip companies’ pension plans is set to widen by €40bn due to the effects of low interest rates, Mercer has found.
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NewsEstonia lines up stricter investment rules for pension funds
ESTONIA – Investment regulations for Estonia's second pillar are set to be revised following a post-crisis analysis by the country's finance ministry.
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NewsGerman institutional investors to double equity allocations
GERMANY – German institutional investors are aiming to increase their equity exposure by 6.8 percentage points in the first half of next year, nearly doubling the current allocation, according to a survey by SEB Asset Management.
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NewsNestlé names former UK CFO Phillips as pension head
SWITZERLAND – Stephen Phillips, former CFO at Nestlé UK, has been named head of Nestlé's pension department.
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FeaturesAustria: still searching for the way ahead
Negotiations on the next stage of Austria's pension reform have produced consensus on some points and a pile of wish-lists for further discussion, reports Barbara Ottawa
