All Features articles – Page 360
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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Features
Responding to courage and vision
Courage and vision are the two key attributes that the management of Pension Fund Services (PFS), the pension fund company created by the boards of the three main pension schemes in the Swissair group following the latter’s demise last year, believes convinced the judges to give PFS the IPE Award ...
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Features
Rapid response to Swissair crisis
Within hours of the collapse of Swissair last October, the powers-that-be at the group’s various pension schemes, worth collectively SFr11bn (e7.5bn) at the time, decided to take action to protect its assets and members. Before the funds could be dragged down with the bankruptcy proceedings and see their assets exposed ...
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Features
ESB's DC redesign enhances flexibility
The E6m ESB Subsidiary Companies Pension Scheme provides retirement benefits and protection in the event of death for employees of subsidiary companies of the Electricity Supply Board. A separate scheme provides benefits in the event of prolonged disability. The schemes were set up in 1991 to provide for the employees ...
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Features
PGGM integrates DC into main scheme
The €47bn PGGM scheme is a compulsory pension arrangement for the 950,000 or so employees in the Dutch healthcare and social work sector. Until May this year, the pension scheme was entirely defined benefit (DB) in orientation. This changed with the introduction of the PGGM Extra Pension, which provides a ...
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Features
Double win for fund provides delight and welcome motivation
When Vienna based Verienigte Pensionskasse (VPK), Austria’s largest multi-employer pension fund, heard the news that it had won the IPE Award for both fund administration and investment strategy, the initial reaction was one of surprise. “That’s not to say that we weren’t delighted or we felt it was undeserved,” says ...
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Features
Denmark switches lanes
It’s hard to avoid the traffic lights in Denmark these days. When the Danish Financial Supervisory Authority (DFSA) introduced its two new colour-coded stress tests to assess the financial strength of life insurers and pensions institutions, Danish pension funds suddenly found themselves slamming the brakes on a steadily rising exposure ...
