Funding – Page 127
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NewsNordic roundup: PIMCO, Storebrand, Catella Fondförvaltning, Söderberg & Partners, AI Pension
EUROPE – PIMCO, the US bond specialist, has appointed Storebrand, the Norwegian pension and insurance provider, for the SRI screening of one of its new bond funds, the PIMCO Emerging Markets SRI Bond.
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NewsDutch fund PFZW prepares for premiums rise, rights cuts
NETHERLANDS – The PFZW's 1.2m active participants may face a contributions increase of 2.5% – to a total of 25.6% of their pensionable salary – if the €96.5bn healthcare scheme fails to recover sufficiently, it said.
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NewsUK roundup: IMA, Legal & General, UNPRI, FTSE 350
UK – The Investment Management Association (IMA) has warned that new proposals to regulate the over-the-counter derivatives market could end up transferring all the risk to the end investor.
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NewsShortfall threatens entire Dutch pension system, says regulator
NETHERLANDS – Allowing shortfalls for a prolonged period will jeopardise the continuity of the entire Dutch pension system because young workers will try to escape the present pension contract if they must foot a disproportionately large part of the bill, according to pension supervisor De Nederlandsche Bank (DNB).
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NewsDutch coverage ratios showing signs of recovery
NETHERLANDS – Dutch pension funds' average coverage ratio has bounced back by 3% to 6% after reaching dramatic lows at the end of last month, according to consultants.
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NewsLow interest rates cause Dutch coverage ratios to plummet
NETHERLANDS – Europe's second-largest pension fund, ABP, has said its coverage ratio fell to 88% in August and attributed the drop on historically low interest rates.
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NewsSwiss pension funds fret over demographic changes, poor returns
SWITZERLAND – Demographic changes and lower than expected returns have been the biggest headaches for Swiss Pensionskassen this year, according to an Ernst & Young survey.
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AP Pension sees surge in contributions, returns of 10% in first half of 2010
DENMARK – Contributions at Danish commercial provider AP Pension soared by 39% in the first half of this year, while its investment return outstripped those seen at all major rivals, according to AP Pension.
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UK roundup: Philips, 5% investment caps [updated]
UK – Philips today announced the sale of its stake in chipmaker NXP to its UK pension fund as part of a funding proposal agreed with the the UK scheme trustees.
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NewsSwiss Canton considers loan for pension fund to boost investments
SWITZERLAND – The finance department for the Swiss canton of Basel-Land is considering a loan to regional public pension fund BLPK in an effort to boost its investments as part of a recovery plan.
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NewsGerman roundup: BVI, Delta Lloyd
GERMANY – Inflows into Spezialfonds are set to exceed 2009’s total volume, according July figures released by the investment and asset management association BVI.
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NewsCPI switch could decrease deferred liabilities by 7.9% for a typical UK scheme
UK – Calculating pension increases according to the consumer price index (CPI) would reduce liabilities for deferred members by around 7.9% for a typical UK scheme, according to PensionsFirst.
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NewsNordic roundup: AP1, AP6, F&C Asset Management, Collectum, SPP, Finnish Centre for Pensions
EUROPE – AP1, one of the Swedish national buffer funds, posted net investment income of SEK2.3bn (€247m) after expenses, representing a total return of 1.1% during the first six months of the year.
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NewsSwitzerland's AHV cites 'positive' first-half results
SWITZERLAND – Marco Netzer, president of first-pillar pension fund AHV, has reported a "positive result" for the first half of 2010 and said he was "not too bothered" about the current weakness of the euro and other currencies.
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NewsIrish pension funds hit by falling bond yields in France, Germany
IRELAND – Falling yields on French and German bonds, coupled with declining equity markets, led to an increase in liabilities in Irish defined benefit schemes in August, according to Hewitt Associates.
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NewsSwiss roundup: BVG minimum return, APK
SWITZERLAND – The Swiss occupational pension commission has recommended the government keep the minimum return rate for Pensionskassen at current levels.
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NewsSwedish roundup: Skandia Liv, AMF, Folksam Liv, Alecta, PP Pension, Länsförsäkringar
SWEDEN – Total returns at Skandia Liv, the life and pensions insurer, reached 4.4% during the first half, equivalent to a 15.2% return for the last 12 months.
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German roundup: Absolute return, BAG, bAV
GERMANY – Absolute return funds in Germany have only returned 0.07% in the first six months of the year, research by asset manager Lupus Alpha has shown.
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NewsSweden's AP funds see returns, profits fall in first half
SWEDEN – Three of the four Swedish national buffer funds saw returns and profits fall in the first half compared with the same period last year.
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NewsDanish roundup: PensionDanmark, PFA Pension, Industriens Pension
DENMARK – Danish labour-market pension fund PensionDanmark posted a pre-tax profit on investments of 7.5% in the first half of this year, due largely to gains on bonds and tactical risk management.
