All articles by Barbara Ottawa – Page 86
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MLP strengthens occupational pension position
[16:40 CET 04-03] GERMANY – Financial services group MLP has acquired pension consultant TPC for an undisclosed sum.
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Selection isn't everything, fund tells Mercer
[16:30 CET 03-03] AUSTRIA – Selection of the right manager alone does not necessarily lead to a better performance, ÖPAG head Johannes Ziegelbecker told IPE.
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Ethos and Profond fail with UBS motions
[16:30 CET 28-02] SWITZERLAND – Swiss bank UBS will increase its capital without the help of ordinary shareholders and there will be no special audit on subprime losses, it was decided at an EGM yesterday, but insiders claim “shareholders sent a message to the board”.
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Market turbulence "harms pensions insurance market"
[16:15 CET 27-02AUSTRIA – Insurance group Allianz outperformed the market in life insurance and second-pillar insurance products last year despite “strong headwinds”, but officials have warned turbulence could hinder pensions take-up.
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ASIP finds median performance at 1.8%
[12:15 CET 26-02] SWITZERLAND – The Swiss pension fund association ASIP calculated a median performance of 1.8% with emerging markets equity and real estate contributing most positively.
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Market dropout sparks Hungarian consolidation
[15:45 CET 25-02] HUNGARY – Austrian insurance group UNIQA has sold its Hungarian pension asset management to Dutch financial group AEGON because it felt the pressure of consolidation.
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SAM powered by global warming to eco funds
[11:00 CET 25-02] SWITZERLAND – Sustainable Asset Managment (SAM) saw its assets under management double over the last year as interest in eco-related investments increased.
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Europeans "rely on occupational pension"
[11:30 CET 21-02] EUROPE – More and more people see the responsibility to provide guaranteed retirement income with the employer, AXA insurance found in its latest pension barometer.
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Polish pension managers lose €1.8bn
POLAND – Managers at Polish pension companies recorded losses of PLN6.5bn (€1.8bn) for the month of January.
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Pension funds cautious about GTAA
[15:45 CET 18-02] GLOBAL – Adding a global tactical asset allocation (GTAA) mandate to a portfolio is still a question of money, belief and regulation, according to pension funds.
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NewsZurich and Credit Suisse profit, as UBS loses
[16:25 CET 14-02] SWITZERLAND – Despite drops in the performances of their investment banking and asset management operations Swiss banks Zurich and Credit Suisse (CS) reported positive net results in their overall operations while UBS saw institutional investors shun its funds.
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German funds need incentives for private equity – minister
[15:00 CET 13-02] GERMANY – The reluctance of large domestic investors to go into private equity and venture capital is discouraging foreign investors from investing in German start-ups, according to a study commissioned by the German federal economy ministry.
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Bavaria chooses "Fed" for pension fund
[16:00 CET 12-02] GERMANY – The German Federal Bank “Bundesbank” will manage the assets of the now established pension fund for Bavarian civil servants.
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Exotic beta is the new alpha
[13:00 CET 11-02] GLOBAL – The quest for alpha is increasingly being replaced by a search for exotic beta as pension funds are losing faith in managers' abilities to really outperform markets.
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"Don't be obnoxious", pension funds tell managers
[14:00 CET 08-02] GLOBAL – Being targeted with sales pitches after 11.30pm when attending conferences and leaving "half an hour" messages on voice mails are just two of the 'don'ts' asset managers have been told to avoid, as pension fund officials find them annoying.
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'No technical argument against Solvency II' - supervisor
[15:00 CET 07-02] AUSTRIA/EUROPE – The decision on whether or not to apply Solvency II requirements to pension funds will be a political one as there are “no technical arguments” against such a step, according to Harald Gössl of the Pensionskassen department at the Austrian financial supervisor FMA.
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APK outperforms Austrian average
[13:00 CET 06-02] AUSTRIA – Multi-employer Pensionskasse APK performed considerably better than the domestic market average last year with a 4.8% return.
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"Portability not main aim of pension promise" - academic
[16:00 CET 05-02] EUROPE – The European Commission is “too much focused” on full portability of pension rights and has forgotten occupational pensions are a bonus which companies offer employees to stay with the firm, according to Austrian economics professor Ulrich Runggaldier.
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UBS completes French push
[16:30 CET 04-02] SWITZERLAND – Swiss bank UBS has received reguatory approval to purchase the French asset manager Caisse Centrale de Réescompte (CCR) from German Commerzbank, amid preparations for its extraordinary general meeting (EGM).
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EU issues new warnings over tax discrimination
[15:45 CET 01-02] EUROPE – Germany and Estonia received formal notices from the commission of the European Union (EU) requesting information in different tax treatment of foreign pension funds when it comes to dividends and interest.
