IPE's Netherlands Coverage – Page 149
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News€1.7bn Dutch fund loses two-thirds of return to interest hedge
NETHERLANDS – The €1.7bn pension fund for the Dutch food products industry returned 14.4% on investments, but lost 9.6 percentage points due to a 115% hedge of the interest risk on its liabilities.
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News€4bn PWRI returns 8.2% with new investment strategy
NETHERLANDS – The €4bn Dutch pension fund PWRI has returned 8.2% on investments after it decided to set up a mandate along main themes, with a wide geographical spread of equity and fixed income investments.
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NewsIBM makes €277m contribution to Dutch pension scheme
NETHERLANDS – The €2.9bn Dutch pension fund of IT giant IBM managed to keep its coverage ratio at 123.1% at year-end, mainly due to a €277m additional contribution from its sponsoring company.
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NewsInterest rates hit coverage ratios at large Dutch schemes
NETHERLANDS – The €5.3bn pension fund of steelworks Hoogovens, as well as two of KLM's large pension schemes, saw their coverage ratios hit by dropping long-term interest rates in the second quarter.
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NewsRabobank pension scheme loses 3.1% due to coverage ratio hedge
NETHERLANDS – The €11.5bn pension fund of Rabobank returned 10.5% on investments, but ultimately lost 3.1% of its assets due to its extensive strategic hedge to protect its coverage ratio.
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News€3bn Horeca fund to increase interest hedge
NETHERLANDS – The €3bn pension fund for the Dutch hotel and catering industry has decided to strategically target a 75% interest hedge on liabilities.
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NewsFalling markets, low interest rates hit larger Dutch pension schemes
NETHERLANDS – Three large Dutch pension funds – PFZW, PMT and PME – suffered from falling financial markets combined with very low long-term interest rates, resulting in marginal returns during the second quarter.
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NewsHigh interest hedge slows coverage recovery on €1.7bn Delta Lloyd fund
NETHERLANDS – The €1.7bn pension fund of insurer Delta Lloyd attributed its slowly improving coverage ratio to its 90% hedge of the interest risk on its liabilities.
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NewsSara Lee pension scheme still rebalancing assets
NETHERLANDS – The €1.1bn Dutch pension fund of consumers goods company Sara Lee is still gradually rebalancing its asset allocation, after its 40% strategic return portfolio decreased to 26% at the end of 2008.
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NewsDutch scheme slashes unconditional indexation by 20%
NETHERLANDS – The €1.8bn occupational pension plan for physiotherapists, Stichting Pensioenfonds voor Fysiotherapeuten (SPF), has slashed its unconditional indexation by 20% to raise its coverage ratio.
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NewsDutch pension fund ABP returns 4.6%, sees coverage fall to 95%
NETHERLANDS – The €218bn civil service scheme ABP returned 4.6% on investments during the first six months of 2010, but saw its coverage ratio drop to 95% in the same period.
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NewsDutch pension fund PMT postpones 'risky' investments
NETHERLANDS – PMT, the pension fund for metalworkers and mechanical engineers, has postponed new investment in relatively risky and less liquid asset classes such as private equity, international property and infrastructure.
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NewsDutch pension fund SBZ transfers administration to Syntrus Achmea
NETHERLANDS – SBZ has begun the two-year process of transferring its in-house administration and board support to pension provider Syntrus Achmea.
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NewsNedlloyd pension fund blames alternatives misery on Madoff scandal
NETHERLANDS – The €1.2bn pension fund of Dutch shipping company Nedlloyd has attributed the 15% underperformance of its alternatives investments to fraudster Bernard Madoff.
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NewsMerchant navy scheme to take stake in MN Services
NETHERLANDS – The €3bn pension fund for the Dutch merchant navy has said it will take a stake in pensions provider MN Services.
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NewsABP raises premiums again after cover ratio falls to 96%
NETHERLANDS – The €220bn civil service scheme ABP has again decided to raise its contributions temporarily by 1% to compensate for the drop of its cover ratio to 96%.
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NewsTNO scraps 'disappointing' tactical asset allocation
NETHERLANDS – The €2bn pension fund of TNO, the Dutch Institute for Applied Science, has axed its 2.7% global tactical asset allocation (GTAA) within a year due to "disappointing" performance.
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Dutch recovery plans need higher pension ages and contributions: OECD
NETHERLANDS – Increasing life expectancy and the recent financial crisis are threatening the solvency of the second-pillar pension system in the Netherlands, leading to a need for changes to the style of recovery plans, the OECD has warned.
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Dutch postal pension fund to hedge interest risk through swaptions
NETHERLANDS – The Dutch postal pension fund TNT will limit its risk by gradually increasing its 75% interest hedge on its liabilities to full cover.
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Hewitt: Most Dutch pension funds failing to meet minimum cover ratios
NETHERLANDS – The cover ratio of most Dutch pension funds has fallen to less than the 105% minimum required by the government, according to Hewitt Associates.
