IPE's Switzerland Coverage – Page 16
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NewsPension funds consider suing FINMA for AT1 bonds write down
Investors have the legal right to challenge FINMA in court within 30 days from the day the Swiss financial market supervisory authority took the decision
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NewsSwiss parliament considers inquiry commission on Credit Suisse/UBS deal
The Council of States, the upper house of the parliament, will also have its say on the establishment of the commission
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NewsMigros Pensionskasse takes CHF100m loss from Credit Suisse AT1 bonds
MPK is examining the possibility of taking legal action for the losses resulting from FINMA’s decision
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NewsEthos engagement pool ranks biodiversity as top priority
The platform has engaged with companies on the reduction of plastics and air pollution, and to promote circular economy models
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AnalysisAnalysis: Synergies and obstacles of a potential UBS/Credit Suisse asset management merger
The outcome of the merger is positive for UBS which ‘is buying the asset manager of Credit Suisse for nothing’, says Ray Soudah
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NewsABP sold Credit Suisse after fruitless engagement
Several large Dutch pension funds have sold their shares in the troubled bank in the last few years
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NewsSwiss schemes limit losses from Credit Suisse downfall through diversification, risk monitoring
Publica has refused to approve the decisions of Credit Suisse’s board of directors at every AGM since 2016
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NewsEmergency rules trigger AT1 bonds write down in UBS/Credit Suisse deal
Pension funds holding AT1 bonds, also referred to as CoCo bonds, can suffer losses as a consequence of the decision taken by FINMA
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NewsUBS/Credit Suisse: Swiss pension funds face cumulative counterparty risk but low losses
The country’s largest pension fund, Publica, started to reduce its exposure to Credit Suisse at the beginning of 2022
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NewsCredit Suisse, UBS pension funds to remain separate entities for now
Swiss Association of Bank Employees is demanding support particularly for older employees (over 55) in case of layoffs through early retirement
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NewsSwiss pension funds fear Credit Suisse/UBS deal will knock competition in banking sector
Takeover could hinder ability of pension funds to negotiate conditions with banks
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NewsSwiss parliament approves second pillar reform
The threshold to join a Pensionskasse would equal under the new regime to a salary of CHF19,845 per year
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NewsSwiss MPs draw up proposal to set aside disagreements on second pillar reform
The reform plan proposed by the Council of States would cost around CHF100m more per year than the version proposed by the National Council
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NewsSwiss second pillar reform faces hurdle on member wage threshold
Political parties in parliament broadly support lowering the conversion rate from 6.8% to 6%
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NewsSwiss canton changes technical aspects of pension plan
blpk has decided to increase its technical interest rate to 2.25%, from the previous 1.75%
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NewsSwiss canton of Vaud pension fund contains losses with real estate, infrastructure
The scheme’s funding ratio stood at 68.6% at the end of 2022
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NewsCompenswiss accelerates exit from coal sector
The three funds AHV, IV and EO recorded negative performances in 2022
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NewsMigros Pensionskasse fends off losses with real estate, infrastructure investments
The scheme’s broadly diversified investment portfolio has had a positive impact on its risk/return ratio
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NewsComPlan’s funding ratio falls to 108%
Income from pension plan assets was negative in 2022 at -CHF1.12bn
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NewsSwiss Pensionskassen could face risk of exiting illiquid investments
Ongoing global uncertainty poses challenge for pension funds that are underfunded or have not accumulated fluctuation reserves, says PPCmetrics
