Markets – Page 195
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News
MPK underfunded for the first time
[17:10 CET 05-03] SWITZERLAND – The CHF14.8bn (€10bn) pensionskasse for the Swiss retail giant Migros (MPK) has fallen to a 97.1% funding level after delivering a negative return of 12.3% last year.
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Government pension fund - Norway drops €3bn
[17:00 CET 05-03] NORWAY – The Government Pension Fund – Norway lost NOK 29.6bn (€2.95bn) in 2008, according to the latest figures from Folketrygdfondet.
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Gov't shareholders are 'the new normal' - Pimco
[16:40 CET 04-03] GLOBAL – Asset management house Pimco is advising investors will have to rethink what makes a good investment in the coming years as governments are changing the investment game by acting as shareholders.
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Publica returns -6.86%
[17:05 CET 03-03] SWITZERLAND – The CHF30bn (€20.3bn) public service pension fund Publica saw its funding level drop by over 10 percentage points to 95.8% over the last year.
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Northern Rock records £31m accounting surplus
[16:55 CET 03-03] UK – Northern Rock has reported an accounting surplus in its defined benefit (DB) scheme of £31.7m (€35.4m), despite previous estimates by trustees of a £100m deficit.
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NewsAllianz GI sees lower income but eyes consolidation
[16:50 CET 03-03] EUROPE – Allianz Global Investors saw its net income fall by over 21.5% in 2008 on the back of lower investment returns and subsequently reduced performance fees, but officials are still looking for buying opportunities within the asset management sector.
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Bos attacks shareholder role in financial crisis
[15:00 CET 03-03] NETHERLANDS - “Shareholders did virtually nothing to prevent and manage the financial crisis”, Dutch finance minister Wouter Bos said this morning at a conference in Amsterdam.
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Gwynedd tenders active bonds portfolio
[16:15 CET 02-03] UK – Gwynedd Council is seeking an active bond manager for a £100m (€113m) active bond mandate for its local authority pension fund following a recent review of its investment structure.
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German investor pursues corporate bonds
[17:00 CET 27-02] GERMANY – A German corporate investor is looking for an asset manager to look after up to €200m in investment grade corporate bonds, using IPE-Quest.
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VBV to raise commodity holding
[17:00 CET 25-02] AUSTRIA – VBV, the largest Austrian Pensionskasse, wants to invest more in commodities and is looking at a foray into infrastructure.
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AFM prolongs short-selling ban after all
[16:50 CET 25-02] NETHERLANDS - The Dutch financial regulator AFM has made a surprise and extended its measures on short-selling, despite its earlier proposal to lift them.
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Czech funds meet need for positive return
CZECH REPUBLIC – Only two funds in the Czech Republic private pension sector managed to generate a return above 1% last year, but all at least delivered positive performance as the other eight just scrapped the zero mark.
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A quarter of Pensionskassen are under 90%-funded
[17:05 CET 19-02] SWITZERLAND – Consultant Swisscanto has discovered the average funding level of Swiss Pensionskassen had deteriorated to 94.4% by the end of 2008 and the buffer funds have all but dried up.
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Expert demands state hand-outs for Pensionskassen
[16:05 CET 18-02] AUSTRIA – Austrian pension expert Johannes Rudda would like to see the federal state put money into Pensionskassen with employers being another possible source for financial aid.
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UNJSPF lost quarter of its value in 2008
[16:00 CET 17-02] GLOBAL – The United Nations Joint Staff Pension Fund (UNJSPF) lost over $10bn (€7.8bn), around a quarter of its fund value, to end 2008 at $31.37bn.
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NewsFunds review diversification and management
[17:00 CET 16-02] GLOBAL – Opinion polls suggest pension fund managers globally are questioning the use of diversification, just as funds are re-evaluating their investment management policy.
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NewsShareholders vote against Fortis deal
[16:55 CET 11-02] NETHERLANDS – Shareholders of the Belgian-Dutch bancassurer Fortis today voted against the sale of Fortis to the Belgian government and the French bank BNP Paribas.
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Actively-managed assets underperformed - Hewitt
[16:15 CET 10-02] NETHERLANDS - Most actively-managed assets underperformed last year because of the additional costs charged over passive strategies, Hewitt Associates has suggested.
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Bonds save severance funds falls
[16:50 CET 05-02] AUSTRIA – Mandatory severance pay funds posted a negative return of -1.8% for 2008, which could have been worse had it not been for their large bond exposure.
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Auditors force repricing of IAS19 discount rate
[15:30 CET 05-02] UK – Corporate executives are being put under pressure by auditors to reprice their apparent pension liabilities to more realistic levels, in light of the huge shift in recent months in corporate bond yields.
