IPE's Nordic Region Coverage – Page 190
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Swedish update: PPM, SAF-LO
SWEDEN - The amount of changes made within pension funds managed by the defined contribution PPM system increased dramatically last year, as 4.5 million changes were made compared to 3.2 million in 2008 - an increase with 41%.
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Norway-Global pension fund delivers record returns
NORWAY – The giant Norwegian Government Pension Fund Global beat its benchmark index by 4.1 percentage points and returned a record 25.6% in 2009 as a result of gains in international equities and fixed income markets.
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NewsEarly-stage investments drag down long-term AP6 returns
SWEDEN - AP6, one of the Swedish national buffer funds, returned 11.3% for the full year 2009, beating the target return by 3.8% and boosting total assets to SEK18.2bn (€1.85bn) . This compares well with 2008 when the fund underperformed by 16.6%.
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Quoted equities boost Etera fund value in 2009
[17:15 CET 27-01] FINLAND – Better than anticipated sales of pensions and a positive performance in listed equities saw Etera Mutual Pension Insurance Company increase the value of its assets by around €300m in 2009.
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Pension transfers and equities boost Finnish providers
[16:55 CET 26-01] FINLAND – A €37m increase in insurance transfers under the Employees Pensions Act (TyEL) and a large position in Finnish equities helped improve the position of Veritas in 2009.
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Equities and hedge funds boost Finland’s Fennia
[15:00 CET 25-01] FINLAND – Preliminary results for Pension Fennia, one of the largest pension insurance providers in Finland, revealed equities returned a massive 33.7% on investments while hedge funds delivered 16.4% in 2009.
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Icelandic pension fund assets estimated at €10bn
[16:20 CET 21-01] ICELAND – An increase in the value of domestic securities and Housing Financing Fund (HFF) bonds led Icelandic pension fund assets to rise by ISK18.8bn (€105.2m) in November 2009.
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Outsourcing trend drives Varma growth
[16:15 CET 21-01] FINLAND – Varma Mutual Insurance Pension Company saw its assets increase to €29.9bn by the end of 2009 after securing a number of new pension contracts from the university sector.
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Investment timing was key to Ilmarinen's 16% return
[16:55 CET 19-01] FINLAND – Ilmarinen pension insurance company has attributed a positive return of 15.8% in 2009 to the allocation and the timing of its investment strategy.
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News
Norwegian pension funds declined 4.4% in 2008
[16:40 CET 18-12] NORWAY – Norwegian pension funds had a combined deficit of NOK4.7bn (€560m) in 2008, according to latest figures from Statistics Norway.
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Norway Global hits NOK 2.6trn in November
[15:45 CET 15-12] NORWAY – The value of investments in the Norway Government Pension Fund – Global increased to NOK2.6trn (€305.6bn) by the end of November after a brief dip in value the previous month.
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Solvency thaw lifts returns for Finnish pensions
[16:15 CET 14-12] FINLAND - The solvency levels of Finnish pension insurance companies were significantly boosted in the third quarter of this year as a result of improved investment returns, much like those enjoyed among pension funds across Europe.
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Icelandic pensions establish private equity fund
[16:10 CET 11-12] ICELAND – Sixteen Icelandic pension funds have co-founded the Icelandic Investment Fund (Framtakssjóður Íslands), which is designed to invest in domestic companies that have suffered in the financial crisis but which show potential.
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Strong gains allow Industriens to pay 6%
[16:00 CET 11-12] DENMARK - Industriens Pension is boosting the account dividend it pays scheme members to 6% next year, as a result of the high returns it made on shares and corporate bonds this year.
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Norway should resume full payment to Global Fund - IMF
[16:45 CET 24-11] NORWAY - The IMF has warned the Norwegian government that it should resume full payment of oil revenues to the Government Pension Fund - Global by reducing the country's non-oil budget deficit to 4% of the Global Fund's value, and within the three remaining years of its ...
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PFA increases market share as it posts 5.1% return
[16:30 CET 20-11] DENMARK - PFA Pension saw its market share increase in the first nine months of the year despite reporting a fall in gross premium income.
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PensionDanmark’s growth kept afloat by pension transfers
[13:00 CET 12-11] DENMARK - Despite dwindling employment levels in Denmark, PensionDanmark’s premium income rose 2% year-on-year in the first nine months of the 2009, thanks to a hefty increase in pension transfers moving to the firm.
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Norway Global sees record return despite external losses
[16:15 CET 10-11] NORWAY – The Norwegian Government Pension Fund – Global posted its "best ever" quarterly return of 13.5% between June and September, even though externally-managed assets lost ground, and raised the value of the fund to NOK2.55trn (€304bn).
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AMF Pension reports 10.9% return
[16:45 CET 05-11] SWEDEN – AMF Pension has reported a nine-month return of 10.9%, allowing it to increase the bonus rate for its defined contribution traditional insurance plan to 8%.
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Danica's traditional scheme returns 5.8%
17:15 CET 04-11] DENMARK – Danica Pension has reported a "satisfactory" return of 5.8% on its traditional pension plan in the first three quarters of the year.
