All articles by Barbara Ottawa – Page 79
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NewsSwiss set pensions minimum rate
[15:00 CEST 22-10] SWITZERLAND – The Swiss government has lowered the minimum return rate for Pensionskassen by 0.75 percentage points to 2%.
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No need for second pillar – IHS (updated)
[16:05 CEST 21-10] AUSTRIA – Increasing the real retirement age is enough to ensure people will still be able to live off the state pension in 60 years' time, according to Bernhard Felderer from the Austrian Institute for Advanced Studies (IHS).
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NewsBonds better than real estate - study
[16:25 CEST 20-10] SWITZERLAND – Direct real estate investments failed to help Swiss pension funds’ performances in last quarter but quite the contrary dragged returns down compared with earlier periods, according to a study which does not track the impact of property investments.
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NewsVera/Pevos acquittals are final
[16:45 CEST 17-10] SWITZERLAND – All seven defendants in the Vera/Pevos trial have been officially confirmed as free men, as the public prosecutor had withdrawn his appeal against their acquittal.
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UBS spins off riskier assets
[16:00 CEST 16-10] SWITZERLAND – Swiss bank UBS has created a standalone fund which allows the firm to rid itself of illiquid assets burning its balance sheet and raise capital through the Swiss central bank.
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Former minister calls for end of three-pillar system
[17:00 CEST 15-10] AUSTRIA – The head of the European Senior Organisation (ESO) Karl Blecha has demanded to scrap the three-pillar retirement system and go back to solely relying on the state as pension provider.
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Swiss funds fall 1.6% in Q3
[16:25 CEST 14-10] SWITZERLAND – September delivered the second-worst month in terms of performance this year for Swiss Pensionskassen, as market volatility generated a negative return of –3.25%, according to Credit Suisse.
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Swiss funds stick to allocation
[17:10 CEST 13-10] SWITZERLAND – Swiss funds are in general content with their long-term asset allocation and are only making tactical adjustments, according to consultancy Lusenti.
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German investors cut pension savings
[16:50 CEST 10-10] GERMANY - German investors are wary of putting money aside for their retirement in the current economic climate, a new survey suggests.
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Credit interesting again, managers agree
[17:05 CEST 09-10] GLOBAL – With priced-in defaults being at a record high the time has come to invest in credit products, fixed income managers has suggested.
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Aegon loses more clients
POLAND – Aegon’s Polish pension fund is once again among the funds to lose the most money in the so-called transfer session, even though its performance beat the market in August.
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Analyst sees return to simple assets
[17:10 CEST 06-10] EUROPE – Complicated structured products will not survive the current crisis, predicts Peter Brezinschek, chief analyst of the Austrian Raiffeisen Zentralbank (RZB).
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ÖPAG and university create ALM tool
[15:45 CEST 03-10] AUSTRIA – The multi-employer pension fund ÖPAG and the University of Vienna have developed an ALM tool to help the fund simulate future developments around their assets and liabilities.
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Rümmeli convicted over Swiss kickbacks
[16:10 CEST 02-10] SWITZERLAND – Roland Rümmeli, the former asset manager of the Siemens Pensionskasse, has been convicted by the Swiss authorities after confessing to being involved in the payment of 'kickbacks' concerning the Swissfirst merger.
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Ziegelbecker goes federal
[11:00 CEST 01-10] AUSTRIA – Johannes Ziegelbecker, head of the Austrian multi-employer pension fund ÖPAG, will manage the federal Pensionskasse for civil servants (BPK) from today.
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Capital guarantee hinders pensions – analyst
[16:30 CEST 30-09] EUROPE – Institutional investors in Europe are hindered by guarantees to grow returns and in their ability help stabilise capital markets, according to Peter Brezinschek, chief analyst of Raiffeisen Zentralbank (RZB).
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NewsUnion content with its slice of pensions performance
[16:15 CEST 29-09] GERMANY – The union for the food industry said it is content with last year’s performance of its pension fund when compared with others in the market.
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NewsSwiss funds can cope with the crisis – Complementa
[17:10 CEST 26-09] SWITZERLAND – The current financial crisis has thrown many Swiss Pensionskassen back under the fully-funded mark but Michael Brandenberger, CEO of consultancy Complementa, has claimed most funds are in a good position to weather the storm.
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Boutiques might profit from crash – Böhm
[17:15 CEST 25-09] AUSTRIA/GLOBAL – Asset management boutiques might profit from the collapse of large asset management companies in current market conditions as good managers will be in need of new jobs, according to Christian Böhm, head of Austrian Pensionskasse APK.
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New tax might reduce long-term fund saving – BVI
[16:15 CEST 24-09] GERMANY – Long-term investors in funds must be exempt from the new CGT to be introduced in Germany from next year, the federal association of investment and asset management BVI has warned.
