Investor Strategy – Page 145
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News
Allianz rallies against 'safety pension'
[16:40 CEST 27-04] AUSTRIA – Calls to introduce a 'safety pension' with a lower calculation rate in Austria will not completely rule out the need for pension cuts, officials at Allianz have argued.
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Henkel creates global fiduciary pensions structure
[16:00 CEST 27-04] GLOBAL - Henkel, the Düsseldorf-based personal and consumer goods multinational, has completed what is thought to be the first global restructuring of pension schemes as a notional pooling structure and appointed three firms to manage its plans globally as custodian, fiduciary and risk manager.
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Danes to withdraw €3.3bn from pensions 'for luxuries'
[16:35 CEST 24-04] ATP, the manager of the Danish state-owned SP pension scheme, says approximately DKK25bn (€3.35bn) could be withdrawn from the scheme to be spent on luxuries by the Danish population when the government allows access to the assets later this year.
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PNO Media considers cuts as a recovery option
[13:00 CEST 24-04] NETHERLANDS - PNO, the €2.5bn pension fund for the media, has not ruled out the prospect of cutting pension benefits and claims, if additional recovery measures turn out to be insufficient to improve its funding level.
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Pension funds turn to specialists and alternatives
[14:30 CEST 23-04] EUROPE – Pension funds are increasingly moving into alternatives but the next growth area could be in the expansion of specialist fixed income mandates and single strategy hedge funds, according to Mercer’s review of pension fund asset allocation.
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Future provision threatened by early pension access - OECD
[12:00 CEST 23-04] GLOBAL – The OECD has warned future pension provision could be undermined by giving early access to pension funds to aid people in “severe economic difficulties” alongside access to national pension reserves.
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Norway Global sees value increase in March
[17:15 CEST 20-04] NORWAY – The Norwegian Government Pension Fund – Global increased in value to NOK 2.08trn (€236.4bn) in March, following two consecutive months of decline.
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News
PMA recovery to alter asset allocation
[16:40 CEST 20-04] NETHERLANDS - The €889m pension fund for pharmacies’ staff PMA expects to recover from its reserve shortfall within 15 years by adjusting its yearly indexation and changing its asset allocation strategy.
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News
Property and infra to see investment resurgence - study
[16:30 CEST 20-04] GLOBAL – A study of pension funds and institutional investors suggests funds will increase their listed and private equity holdings this year, but the asset classes of most interest for future years are likely to be property, infrastructure and hedge funds of funds.
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News
Eureko and Poland to enter 'secret' talks
POLAND – Dutch insurer Eureko and the Polish Treasury have signed a new memorandum to bring about a new round of negotiations concerning the insurer's shareholding in pension firm PZU.
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Industriens diversifies to tap high-yielding dividends
[16:00 CEST 17-04] DENMARK – Industriens Pension, the €8.3bn pension fund, has diversified its equity holdings a fraction to tap potential opportunities linked to dividend income.
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Providers say traditional diversification needs rethink
[17:00 CEST 16-04] EUROPE – Classic balanced or multi-asset mandates have failed to protect pension funds during the current crisis and need to be reconsidered, according to both Allianz Global Investors and German consultancy Heubeck Feri.
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News
ECJ to review Poland's overseas investment limit
POLAND – The European Commission has referred Poland to the European Court of Justice for limiting the amount of money that local pension funds can invest overseas to just 5%, arguing this in turn breaks EC rules concerning the free movement of capital.
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News
Unions agree to AUA contribution cut
[17:15 CEST 09-04] AUSTRIA – Employee representatives of onboard staff at Austrian Airlines Group (AUA) have consented to a 75% cut in company contributions to their pension fund for one year.
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News
Quantitative easing has 'distorted' pension liabilities
[17:00 CEST 09-04] UK – The Bank of England’s policy of quantitative easing has indirectly increased the pension scheme deficits of FTSE 100 companies as the price of gilts “soared to their highest level in 20 years”, Deloitte has claimed.
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Maltese reforms cut 2006 liabilities by €1.6bn
MALTA – Pension reforms introduced in 2006 to raise the state pension age from 61 to 65 between 2014 and 2023 have reduced pension liabilities by €1.6bn, according to figures from the National Statistics Office (NSO).
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News
Horeca maintains strategy with small cap appointment
[16:00 CEST 09-04] NETHERLANDS – The €2.5bn Horeca & Catering pension fund is continuing with its asset allocation diversification plan despite a recent further fall in its cover ratio, and has awarded RCM a mandate to manage European small cap equities.
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News
50 pension funds miss DNB deadline
[16:45 CEST 07-04] NETHERLANDS - Almost 50 Dutch pension funds with a funding shortage have yet to submit a recovery plan, a spokesman for De Nederlandsche Bank (DNB) has confirmed.
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NewsLongevity swaps reality improved by pensions funds
[16:30 CEST 07-04] UK – It may soon be possible for UK pension funds to purchase longevity swaps as protection against members living longer than anticipated because pension funds have themselves improved pricing by making more cautious mortality assumptions.
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News
Employers warned over cost of deferred DC
[17:20 CEST 07-04] UK – Employers need to address the extra costs associated with administering defined contribution (DC) schemes for deferred members, as large firms could be spending more than £500,000 on ex-employees, Towers Perrin has warned.
