Pension System – Page 282
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Country Report
France: Hope beyond the figures
Alain Lemoine assesses some important implications for pensions and institutional investment in an election campaign notable otherwise for its silence on retirement issues
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Country Report
Nordic Region: The right skills on board
Rachel Fixsen outlines controversial requirements designed to improve the governance of financial companies’ supervisory boards
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Country Report
France: On track for change
“You become responsible forever for what you have tamed,” the French writer Antoine de Saint Exupéry once wrote. This maxim might describe the team’s mindset at the French €5.9bn public pension fund IRCANTEC, as it approaches this spring a pivotal moment in its investment lifetime. After 63 years of existence, ...
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Country Report
Nordic Region: Seeking emerging rewards
Norway’s Pension Fund Global – one of the largest institutional investors worldwide, with over €425bn in assets – is reconsidering its European exposure. Jonathan Williams looks at the motivation for the changes
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Country Report
France: Pensions on the move
With no domestic IORP-compatible regime and with Solvency II looming, two of France’s supplementary pension providers are looking to move their domicile. Cécile Sourbes assesses the pros and cons of their plans
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Country Report
France: Paradigm shift
Richard Bruyère comments on a difficult year for the French institutional market
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Country Report
Nordic Region: Green shoots
Iceland’s economic recovery is inflating domestic asset prices as capital controls persist. And the consequent lack of investment opportunities is restricting pension funds’ room for manoeuvre, writes Nina Röhrbein
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Features
Northern lights
Iceland’s Frjalsi is starting to feel the effects of economic recovery but capital controls weigh heavily over its investment policy. Nina Röhrbein spoke with Arnaldur Loftsson and Marinó Tryggvason
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Country Report
France: Life after downgrade
Gail Moss tests the institutional investment waters after January’s S&P downgrade and ahead of Solvency II
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Country Report
Nordic Region: Hard to beat
IPE looks at the sucess of AP7’s 2010 decision to overhaul its investment strategy
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Country Report
Nordic Region: Lonely hearts club
The government has announced plans to channel pension fund assets into debt financing for SMEs. Rachel Fixsen outlines the various initiatives
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Features
Keeping tabs on the costs
Pension funds and trustees need to know exactly what different DC pension providers are charging so they can compare them against each other. Gail Moss reports
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Country Report
Nordic Region: Going long
Sweden, with stable finances and a debt-to-GDP ratio of under 33% is an attractive safe haven for many investors. However, precisely these low debt levels have led to reduced need for longer-dated issuance, currently only 5.6% of debt outstanding. Jonathan Williams looks at reactions to the country’s recent 20-year bond exchange
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Features
Sentiment undimmed
Frank Schnattinger outlines the key findings of IPE Institutional Investment’s 2012 survey following trends in the German-speaking institutional market
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Country Report
Germany: Two anniversaries and a critique
Mercer’s November 2011 summary of German corporate pension provision notes that “….supplementary pension plans… typically either adopt a book reserving approach, with or without segregated assets, or an insured pensions approach”. That’s diplomatic language for “not widespread with too little funding”, a situation that contributes to Germany ranking eleventh out ...
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Country Report
Germany: Ten years of master KAG – an interim assessment
Clemens Schuerhoff and Hans-Jürgen Dannheisig draw on their experience in specialist consulting to assess the achievements and challenges for master KAGs in Germany
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Country Report
Germany: Providers of liquidity
As banks are withdrawing from project financing in real estate and infrastructure, Versorgungswerke like the BVK are stepping in and actively seeking investment partners, finds Barbara Ottawa
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Country Report
Germany: Are Pensionsfonds maturing?
Klaus Stiefermann, Sabine Mahnert and Dr Cornelia Schmid argue that a few regulatory adjustments could greatly improve occupational pensions
