All IPE articles in December 2002 (Magazine) – Page 4
-
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. ...
-
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 ...
-
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 ...
-
Features
Rising tide of cash
What are the reasons why pension funds might hold cash, and how do consultants suggest their pension fund clients manage these holdings? “The starting point would be an ALM study, to find out if cash has a place in the strategic asset allocation,” says Peter Eerdmans, senior analyst at Watson ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
Features
Working through complexities of externalisation
For a small pension fund like the pension fund for the employees of the Central Nuclear de Almaraz (CNA) in Spain, winning the IPE award for best fund structure and administration in Spain came as nice surprise, only two years after the fund was created. With around €12m under management ...
-
Features
Fonditel reacts to daily market conditions
Fonditel is a pension fund management company (‘gestora’) that manages five pension funds, all of which are defined contribution structures. The company currently manages pensions for 71,500 people, representing 1% of the salaried workforce in the private sector and 14% of occupational pension schemes. Fonditel is a company dedicated exclusively ...
-
Features
Why LPFA is contrarian
As one of the largest providers of the Local Government Pensions Scheme (LGPS) in the UK, the LPFA fund provides defined benefit (DB) pensions for the employees of over 220 organisations in the non-profit sector, as well as delivering administration services to eight London boroughs amongst other organisations – giving ...
-
Features
Public recognition for 'massive contribution' to funding
The strategy of the fund, clearly impressed the judges. The process of review is well defined and seems to be performing, says one. “Very clear logical processes,” says another. At the fund, the news of the award was warmly welcomed by group chief pensions manager Frank Flynn: “The trustees and ...
-
Features
Controlling your investment and other costs
Low management fees are not necessarily the best management fees, believe senior managers at some of Europe’s top pension funds. Addressing pension market professionals at the second seminar at the IPE Awards, the panel of five gave their opinions on how to control investment and other costs. The panel comprised ...
