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PNO Media sees strongest gains from private equity

NETHERLANDS - Private equity and commodities were the best returning asset classes during the third quarter, for the PNO media €2.8bn pension fund.

Details of its latest results reveals the industry-wide scheme saw an overall return of 1.2%, which is equal to its benchmark, but the two superior asset classes in terms of performance with in the alternatives, delivering 10.2% and 5.9% respectively.

That said, a decrease in interest rates means PNO's liabilities have also risen 2.7%, while its coverage ratio has dropped 0.8% to 128.6%.

PNO's equity investments showed a negative return of -2.3%, after positive returns of 6.7% during the second quarter.

Similarly, fixed income and property returned 1% and 0.5% respectively, while infrastructure yielded -0.1%.

According to the pension fund, it kept its investment portfolio unchanged during the third quarter, but has decided to decrease its equity allocation slightly in favour of fixed income.

PNO is pensions provider for 350 employers, 15,380 active participants, 12,600 deferred members and over 5,900 pensioners.

If you have any comments you would like to add to this or any other story, contact Julie Henderson on + 44 (0)20 7261 4602 or email julie.henderson@ipe.com

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