Germany: BRSG beyond the new DC plans
A year into the implementation of Germany’s BRSG law to strengthen occupational pension schemes many legal uncertainties remain
Pensionskassen facing challenges
The number of insurance-based pension funds on the supervisor’s watchlist is falling. But some providers are in serious trouble
Belgium targets €100bn in pension assets by 2025
PensioPlus wants to increase size of Belgian-based pension fund market by more than double in six years
Aon relaunches bid to transfer Dutch scheme to Belgium
Move subject to approval by two thirds of participants and pensioners
Poland finalises abolition of €38bn second-pillar system
Transfer to state or private provision set for January 2020, subject to consultation and parliamentary approval
Romania faces ‘last call’ to save second pillar
Industry fears nationalisation by the back door through government reforms
Currency aided Danish pension funds in first quarter: Willis Towers Watson
SEB comes close second to Danica as Willis Towers Watson compares market-rate returns
Danske Bank cashes in as Swedish pension arm sale finalised
Consortium including Sampension and Unigestion completes purchase as Danica reports strong first-quarter performance
Finland’s Mandatum Life eyes international growth with acquisition
The Nordic insurance company has bought a 20% stake in Swedish alternatives specialist Crescit Asset Management
Ilmarinen backs BlackRock US ESG exchange-traded fund with €750m
Finnish pension insurer co-developed the ETF as part of a shift towards responsible investments in its €47bn portfolio
France’s FRR awards €1.7bn domestic, European small cap mandates
Award concludes search launched in April last year, with US small cap and Japanese equity searches still outstanding
Mandate roundup: Ircantec awards five mandates worth €2.8bn [updated]
Plus: German church fund awards currency overlay mandate to Metzler; Italian education workers’ scheme shakes up manager line-up; Hampshire hires JP Morgan
Analysis: Experts warn of bank stress test impact on covered bonds
ECB’s banking sector stress tests have caused concern among covered bond analysts over the potential impact on the attractiveness of the asset class
Mandate roundup: Ircantec awards five mandates worth €2.8bn [updated]
Plus: German church fund awards currency overlay mandate to Metzler; Italian education workers’ scheme shakes up manager line-up; Hampshire hires JP Morgan
Chart of the Week: Brexit helps Ireland hit record AUM
ETFs, Brexit transfers and market performance pushed Irish AUM to an all-time high of €2.64trn in the first quarter of 2019, according to new data
Asset managers urged to implement ‘no-deal’ Brexit plans
Prime minister Theresa May loses vote on withdrawal agreement; ‘No deal’ to be debated today
Mandate roundup: Ircantec awards five mandates worth €2.8bn [updated]
Plus: German church fund awards currency overlay mandate to Metzler; Italian education workers’ scheme shakes up manager line-up; Hampshire hires JP Morgan
Italian telecoms scheme appoints Payden & Rygel to €250m mandate
€1.8bn Fondo Telemaco pension fund began an asset allocation overhaul last summer
Ex-regulator slams piling up of pension fund rules
A former head of pension fund supervision in the Netherlands has argued that risk reduction requirements for schemes are over the top and counter-productive
€5.9bn Dutch green bond deemed ‘expensive’
APG, PGGM, SPOV and Cardano were allocated €411m collectively, from a total of €5.9bn raised by the first AAA-rated sovereign green bond
Nordic insurer hunts UK equity exposure via IPE Quest
The insurance company has intiated a search for a UK equity fund to be added to its ‘guided’ fund range
Finland’s Mandatum Life eyes international growth with acquisition
The Nordic insurance company has bought a 20% stake in Swedish alternatives specialist Crescit Asset Management
KLP purges NOK3.2bn of shares as coal ban goes total
The Norwegian pension fund has reduced its coal tolerance limit to just 5% of a company’s revenue, cutting RWE, Sasol and BHP from its portfolio
Falling costs and strong returns prompt KLP price cut
Norwegian municipal pension provider’s premium reduction comes as reforms threaten its near-monopoly on local authority sector
Spanish pension funds cutting equities after 2018 losses
Rise in dollar softens CaixaBank scheme losses, while Geroa Pentsioak posts losses across all equity sectors
Poor Q4 leads to 3.2% 2018 loss for Spanish pension funds
Fourth-quarter performance was the worst since the 2008 financial crisis, says Mercer
Sweden revamps AP fund boards with industry veterans and academics
New chairs for AP1 and AP3, along with three new deputies and 12 new board members across the €126bn system
Sweden’s AP3 appoints permanent CIO
Pablo Bernengo will join the SEK341bn state pension buffer fund from his current CEO role at Öhman Fonder in November
Swiss voters approve €4bn recapitalisation of Geneva pension fund
A plan worth CHF4.4bn will take the Swiss canton’s public pension scheme to a funding level of 75%, but without a DB to DC shift
Swiss back top-up cash for state pension fund in referendum
Proposal, which was linked to corporate tax reform, foresees an extra CHF2bn (€1.8bn) annually for state pension plan from 2020
Study highlights imbalance between dividends and pension payments
LCP found that FTSE 100 companies paid £90bn to shareholders and just £13bn to pension funds in 2018
Brexit: UK recession warning as prime minister quits party leadership
Economists have issued renewed warnings of a possible UK recession after prime minister Theresa May this morning announced her resignation.
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