Investor Strategy – Page 143
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NewsMEP pension decision will apply to all members
[17:10 CEST 19-06] EUROPE – The European Parliament has agreed to apply a judgment to all members of the MEPs' pension fund if it loses a legal action over changes to the ABSL voluntary pension scheme, and not just to participants who pursue the case.
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FRR lowers equity holding in strategic review
[16:55 CEST 19-06] FRANCE – FRR, the French national pension fund, has completed its strategic asset allocation review and effectively split equities and bonds holdings as well as introduce new standards on the level of returns and volatility set.
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NewsHarvard expert urges 'back to beta basics'
[13:00 CEST 18-06] EUROPE - Institutional investors should rethink their obsession with chasing alpha and 'go back to basics' with asset allocation models based on beta or fundamental risk, claimed Luis Viceira at the 12th Annual Portfolio Management Conference in Frankfurt.
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Lower predicted pension returns would reflect investment risk - OECD
[16:00 CEST 15-06] GLOBAL – The Organisation for Economic Cooperation and Development has published fresh evidence suggesting long-term investment returns will have to be revised downwards, as equally weighted portfolios can only 9% returns in jut 10% of cases.
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Pensions funds buy back into equities
[16:00 CEST 12-06] NETHERLANDS – Dutch pension funds invested over €21bn in securities again in the first quarter of this year, though the bulk of that money headed for bonds and the purchase of equities did not offset losses, figures from the pensions regulator have revealed.
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PIMCO unveils GDP-based debt strategy
[16:00 CEST 11-06] GLOBAL – PIMCO has launched a new concept in fixed income investing which is said to provide an improved measure of credit market beta by shifting away from market cap weightings and adopting a variety of credit vehicles to deliver counter-cyclical rebalancing.
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SSRB consults on future of MP pensions
[16:10 CEST 10-06] UK – The Senior Salaries Review Board (SSRB) has issued a consultation to gather feedback on the future of the Parliamentary Contributory Pension Fund (PCPF), which includes proposals for reducing costs and the possibility of switching to a different pension arrangement.
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Arcandor pensions could face the PSV
[17:20 CEST 09-06] GERMANY – Arcandor, the firm behind German high street retail giant Karstadt, may eventually see its defined benefit pension obligations placed in the hands of Germany’s lifeboat fund for pensions, as the firm today announced it had filed insolvency papers.
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German funds catch up on SRI
[17:15 CEST 09-06] GERMANY – Approximately 50% of German retirement providers are using ethical criteria within their investments, but not all of them are adopted on a wider scale, a study has claimed.
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Alternatives as much to blame as banks - Swiss funds
[16:25 CEST 08-06] SWITZERLAND – Swiss pensionskassen believe the main causes of the financial crisis were a lack of appropriate regulation as well as excessive risks taken by the financial sector, among banks as well as managers of alternative asset classes such as private equity and hedge funds.
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Companies are liquid enough to keep pensions - consultant
[17:15 CEST 08-06] AUSTRIA – Consultancy firm Arithmetica has claimed the recent financial crisis is further proof that occupational pensions are better left on the companies’ books than in separate arrangements.
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Fear of DB closures pre-empted tough week for pensions
[17:05 CEST 05-06] UK - Seven out of 10 Britons fear company pension schemes could be closed to all workers because of the tax changes in this year's Budget.
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Capital rules may have forced Barclays' DB decision - consultant
[14:00 CEST 05-06] UK - Barclays' decision to close its UK defined benefit pension scheme may have been influenced by regulatory capital requirements, according to pensions consultancy Punter Southall.
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Union strengthens position on Corus DB closure
[17:25 CEST 04-06] UK – Community, the UK trade union, has claimed that Corus, the Anglo-Dutch steel manufacturer, has withdrawn a deadline for closing its DB scheme to new members.
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Longevity swaps – buy now while stocks last?
[17:00 CEST 04-06] UK - DB pension schemes planning to offload longevity risk by purchasing swaps should strongly consider buying them now, according to Mercer.
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Future gov't bond returns to be 'considerably lower' - PIMCO
[16:50 CEST 04-06] GLOBAL – Fixed income specialist Pimco has warned that investors must expect government bonds to deliver poorer returns over the coming years than recently seen, as the state of US government borrowing is likely to frighten investors away when the market is being flooded by paper.
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BP closes final salary scheme to new members
[17:15 CEST 03-06] UK - BP is closing its $18.24bn (€12.83bn) final salary pension scheme to new members from 1 April next year.
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Norway seeks partners in climate change risk study
[16:00 CEST 03-06] GLOBAL - Norway's Government Pension Fund has signed up to a project led by Mercer to measure the impact of climate change on strategic asset allocation.
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Buyout market set to halve in 2009
[17:00 CEST 02-06] UK – The UK’s pension buyout market is expected to fall to £4bn (€4.6bn) in 2009, in the wake of the financial crisis.
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DB schemes still too equity-heavy, claims IIA
[16:50 CEST 02-06] UK – A UK-based pensions consultant has urged defined benefit pension schemes to abandon their traditional investment approach for a risk-based investment approach where assets are more closely matched to scheme liabilities, as officials believe there is still too much emphasis on equities.
