Latest from IPE Magazine – Page 682
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Features
Coping with fixed liabilities and volatile assets
Pension funds, and particularly defined benefit (DB) ones, are basically a bag of liabilities. These obligations have to be matched by both current assets and the future income stream. In the past 50 years, pension funds have benefited successively from high returns on equities, bonds, and equities again. Since September ...
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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 ...
