Five European leaders named in IPE Awards
Five European pension funds were named industry leaders in two separate categories – investment strategy and fund structure and administration – at the IPE Awards in Amsterdam. Sweden’s AP3 and the UK’s Boots were named the leading European pension funds for their investment strategy, while Diageo, Belgacom and PGGM were chosen as leaders in the fund structure and administration category.
AP3 and Boots were chosen by the judges from six country leaders, a group which also included Austria’s APK, Ireland’s Bank of Ireland, Belgium’s Belgacom and Spain’s Fonditel.
The judges commended the E13.8bn AP3 fund’s “flexible, robust and very interesting asset-liability model”. Boots – with a value of E3.75bn – was praised for its “outstanding courage and leadership” in moving its entire portfolio into bonds.
There were three leaders in the fund structure and administration category: Diageo, Belgacom and PGGM. The judges noted the E2.9bn Diageo fund’s “evident passion for excellence”. Belgacom, Belgium’s largest fund at E3.1bn, was seen as an excellent example of a governance structure in action. The E47bn PGGM fund in the Netherlands caught the judges’ attention with its innovative individual contribution model.
Other leaders in the fund structure and administration category were Sweden’s AP7 and Switzerland’s PFS/Swissair.
The awards were presented by Chantal Cuer at a gala dinner at the Beurs Van Berlage, Amsterdam’s former commodities trading centre.
Full details of all winners are published in the IPE Pensions Awards 2002 Supplement with this issue of IPE, plus report on page 41.