Latest from IPE Magazine – Page 643
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Features
The right numbers for telecoms employees
With the establishment 12 years ago of its own pension fund management company, Fonditel Pensiones EGFP (Fonditel), telecoms group Telefónica claims to be the pioneer model of the new second pillar pensions industry in Spain. Fonditel’s mandate was to implement its own autonomous investment policy with the objective of ensuring ...
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Features
High dividend aspirations with a choice of styles
The objective of Länsförsäkringar Liv is to achieve the market’s highest dividend interest over the long term. Containing costs, along with achieving the highest possible risk-adjusted returns, are the keys to doing so. As the life insurance arm of the Länsförsäkringar group, it benefits from substantial economies of scale by ...
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Features
Information is a special duty for creator of web
The CERN Pension Fund – the fund of the European Organisation of Nuclear Research – was set up in 1955 to insure members, beneficiaries and family members against the financial consequences of disability and old age of members, and death of members and beneficiaries. CERN is a non-profit research laboratory ...
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Features
Quality services at an optimum cost
The London Pensions Fund Authority, set up in 1989, is one of the largest administrators in the UK of the Local Government Pension Scheme (LGPS). It has 73,000 members from this scheme, and includes more than 220 employers. As well as this, the LPFA operates nine agency administration contracts, covering ...
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Features
High-quality service and investment performance
This fund is a Polish mandatory, defined contribution, open pension fund. The state-owned Social Insurance Institution (ZUS) collects and allocates pension contributions to open pension funds, with each individual member contributing 7.3% of their gross salary on a monthly basis. The main aims of the fund, which was established in ...
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Features
Split model balances guarantee with growth
The fund was initiated jointly by the association of the chemical industry employers and the union of the chemical industry employees in Germany. Both associations still support the fund by promoting it among their members and both organisations send members to the supervisory board of Chemie Pensionsfonds. Financially, however, the ...
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Features
Fund of funds gives focus to private equity investment
ATP Private Equity Partners was set up two and a half years ago to manage the global private equity investments on behalf of ATP and SP, the Danish supplementary pension arrangements. ATP Private Equity Partners combines the private equity incentive and co-investment model with the long-term capital source from an ...
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Features
Alternative investments shifts efficiency frontier
In 2002 the Seventh Swedish National Pension Fund (AP7) added hedge funds and private equity to its portfolios. Prior to this decision, however, together with Watson Wyatt Investment Consulting, AP7 built a model that captures the key features of the Swedish pension system. In particular, the model takes into account ...
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Features
Bringing consistency to schemes in 19 countries
As a growing multinational with a young workforce, Vodafone faces atypical challenges when compared to more traditional companies. The pension benefits provided to its employees must be relevant to their expectations and must fit within a total reward package, which also has an emphasis on Vodafone shares. The Vodafone group ...
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Features
Fund aims for 5% real estate share with overseas focus
To bring diversification into ATP’s overall investment portfolio, approximately 4.3% has been invested in property – equivalent to €1.4bn. The strategic goal is to reach a 5% allocation (+/– 3 percentage points) in property by the end of 2003. Until the beginning of 2002, ATP invested solely in Danish real ...
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Features
Policy ladder manages risks and helps funding
In July 2003, ABP introduced a new system of management of pension fund risk, the so-called ‘policy ladder’ (in Dutch ‘beleidsstaffel’). The initiation of the ladder led to two important adjustments in the pension plan: q The introduction of a set of explicit rules regarding the allocation of funding risks ...
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Special Report
From periphery to mainstream
Dutch superfund ABP has been actively involved in both socially responsible investment (SRI) and corporate governance since the mid-1990s. Since then, ABP has undertaken a whole array of national and international activities to include SRI and corporate governance in its mainstream investment processes. ABP is one of the leaders in ...
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Features
Flexibility in matching pension liabilities
“Pension funds worldwide are in big trouble.” This bleak sentence starts a working paper on ‘How derivatives can help solve the pension fund crisis’, written by the Cass Business School1. Factors such as increasing life expectancy and changes in accounting rules have made it difficult for many pension fund managers ...
