Latest from IPE Magazine – Page 681
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Features
VPK diversifies strategies and managers for outperformance
Established in 1990, the Vereinigte Pensionskasse AG (VPK) is the largest general pension fund in Austria. The running contributions increased to e106m in 2001. In March 2001 the VPK commenced the formulation of a new equity holding concept. Two central themes dominated this formulation, namely strategy diversification and manager diversification. ...
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Features
Successful overhaul of fund's structure garners Award
What the judges said: “Since 2001 PBU has made a giant leap forward which now allows it to be ambitious and search for best practice in all aspects of running a pension fund. Here is a winner.” When the news broke at Denmark’s fledgling PBU pension fund that it had ...
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Features
APK puts theory into practice
APK is one of Austria’s largest pension funds with roughly (E1.5bn) is assets under management. The beginning of the year 2000 marked the turning point in the thinking of many institutional investors. Therefore, as a result of the events in 2000, APK reviewed its investment decision-making process and developed an ...
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Features
A second win enhances fund's drive to make more improvements
Austria’s APK pension fund was more than delighted to learn that it had won the IPE investment strategy award for the second year running. “Winning this award again is a strong acknowledgement from Europe’s pension fund industry of our professionalism and leadership and it places substantial weight behind our general ...
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Features
VPK launches own absolute return fund
Vereinigte Pensionskasse AG (VPK), founded in 1990 is the largest multi-employer pension fund in Austria with a total of e1.9bn under management. Contributions to the pension fund in 2001 counted more than e106m. Paying attention to the volatile capital markets – on the bond side as well as on the ...
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Features
Double win for fund provides delight and welcome motivation
When Vienna based Verienigte Pensionskasse (VPK), Austria’s largest multi-employer pension fund, heard the news that it had won the IPE Award for both fund administration and investment strategy, the initial reaction was one of surprise. “That’s not to say that we weren’t delighted or we felt it was undeserved,” says ...
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Features
Belgacom takes development to the next stage
Belgacom, the largest pension fund in Belgium, had e3.3bn in pension assets at the end of 2002. Structured as a DB fund for 31,621 employees, it promises its members 75% of final salary with benefits linked to inflation. The benefits covered include social security pensions, a special early retirement programme ...
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Features
Wider exposure will come as result of awards wins
Belgacom is a very well-organised fund, the judges comment. This is not too surprising a view, since the fund to its delight has won both investment strategy and fund administration awards in this year’s roll of honour. Now the Brussel-based pension fund is keen to find out what set it ...
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Features
Industriens trims strategy with hedges
Industriens Pensions’ invested portfolio, which is expected to grow significantly over the next few years as a result of increasing contribution payments, consists of a broad range of asset types, of which shares – according to the investment framework drawn up by the board – may constitute between 25 and ...
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Features
Award demonstrates that fund has 'got it right'
Though the judges awarded the IPE investment strategy prize for Denmark to Industriens Pension because of its clever outsourcing of asset management, the deliberate balance between internal and external managers and its use of new asset classes, Jan Oestergaard, the head of investments at the Copenhagen based fund, feels that ...
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Features
PRO-BTP cornerstone of benefit structure
PRO-BTP is an organisation for the French construction industry, which runs the complementary system of social protection, insurance and pensions for over 3m people who belong to the BTP – ‘batiments et travaux publics’. The organisation was set up in 1993 by the social partners as a paritarian, non-profit making ...
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Features
Determination to show Europe what group can provide
Innovation “with new investment vehicles” is how one judge summed up his view of France’s PRO-BTP Finance. This thriving operator has long benefited domestically from a good reputation reinforced by various awards from French organisations but the IPE Award for investment strategy may allow the company to exploit markets beyond ...
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Features
OGPF increases alternatives weighting
Osuuspankkien eläkekassa is the pension institution responsible for the TEL pension guarantee (obligatory second pillar) of the employees of OKO Bank Group. At the end of 2001 the pension fund comprised of 355 employers, with a total of 9,229 employees on a TEL contract. The investment operations of the pension ...
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Features
Thoroughly 'modern' funds reaps rewards for the second time
What the judges said: “They are a serious player and are developing their strategy. In particular they have developed their reporting system in co-operation with an outside specialist and it is very modern by Finnish standards, for example providing for analysis of performance attribution. Their risk management system is also ...
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Features
Siemens tracks assets globally
Siemens employs around 450,000 people worldwide and in the US is the biggest foreign employer with some 80,000 employees. The group’s pensions liabilities, including Germany, amount to some €18.5bn. At the end of September 2002, to coincide with the end of the group’s financial year, the Siemens group treasury department ...
