Latest from IPE Magazine – Page 723
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Features
Pinning hopes on the Spanish
Goodbye Belgium, hello Spain then. After much expectation that the pan-European pensions directive would get a sympathetic hearing during the Belgian presidency – Belgium itself in the midst of introducing occupational pensions law not a million miles from the EC Directive, the disappointment has been that this has not translated ...
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Features
Currency change set to boost stocks
The physical introduction of the euro this month, when households, businesses and retail banks will start using and trading in euro-denominated bank notes and coins, is likely to have a positive effect on Europe’s equity markets, analysts agree “Though it is difficult to say what kind of impact the changeover ...
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Features
Start of manager close down
From being joint top-of-the-class Poland is now the subject of disapproving looks from the headmasters of Brussels. Having taken on an enormous reform of the social security, education and health system in 1999, the new government which came to power in September last year is grappling with macro economic problems ...
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Features
Second pillar needs support
Hungary is gearing up for an election in the spring, and the government is facing a serious challenge from the main opposition party, both on current policy and in the opinion polls. Nevertheless, it is showing determination in pressing ahead with EU accession legislation, including significant reforms of the capital ...
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Features
Consultants face uphill task
Looking back over last year, eastern and central Europe remained something of a black hole for consultancy firms, both multi-national and local. Despite their best efforts the companies have failed to persuade local pension funds of the need for their services. This has meant closures, a scale down in operations, ...
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Features
Consolidation hints abound
In line with most other European exchanges those of eastern and central Europe have suffered a disappointing year. Although traditionally less dependent on hi-tech stocks, nonetheless they caught a cold when the larger western exchanges caught a cold earlier this year. There are, nonetheless, some bright spots with at least ...
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Features
Slovenia on EU track
It now seems the dim and distant past when Slovenia seceded peacefully from the then Yugoslav Republic. Although it really is not that long ago, the small republic has come a long way since. While the world concentrated on the rebuilding of the republics shattered by the Balkan war, Slovenia ...
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Features
Time running out for reform
Despite being one of the most favoured nations for EU assimilation the Czech Republic continues to be inward-looking when it comes to investment reform and pensions. It is indeed a measure of the failure of many other countries in central and eastern Europe to create capital markets that the Republic ...
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Features
Russian reform gathers speed
One could hardly have imagined that such a complex issue as reform of the pension system, which has been discussed in Russia since 1995 and failed to be launched three times, would proceed at such an incredible pace in 2001, with practical operation of the new system expected already in ...
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Features
Bulgarians still tied to home
Bulgaria’s first privately managed pension funds were established in 1994. But no special law regulated their activities until 1999. Unlike other countries, which did not allow foreign investment during the initial stages of their private pension systems, the Bulgarian legislature looked at this issue in 1999 when the special second ...
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Features
Benchmarks are for beating
There was a time when British university lecturers carried around bundles of individual life assurance policies accumulated throughout their careers as part of their retirement arrangements. By the mid-1970s, the folly of this approach had become apparent, leading to the establishment of the Universities Superannuation Scheme. It is now the ...
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Features
Novartis fund makes move from concrete to paper
Pension funds in Switzerland have a long tradition of investing in property, and the team responsible for the Sfr18bn(e12bn) Novartis pension fund is not exception. The Basle-based pension fund has for years had a significant exposure to real estate, around 12% of the total portfolio, through direct holdings in property, ...
