Returns
In-depth reporting on investment returns for our pension fund and asset management readers from IPE’s award-winning journalists
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NewsSwiss pension funds increase domestic equity exposure as funding ratios surge
Strong equity returns and higher domestic allocations lifted Swiss pension funds to historic funding highs
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NewsPME credits ESG filters for equity outperformance despite benchmark lag
Dutch pension fund says ESG screening enhanced equity returns, despite underweight to US technology
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AnalysisIPE Netherlands Briefing: New ABP index strategy disappoints
The index is based on ABP’s own ESG criteria and excludes several hundred companies, mainly in the US, including Alphabet (Google) and Meta (Facebook)
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NewsPublic market allocations drive 8% return for Church Commissioners in 2025
2025 performance marks 17th consecutive year of positive returns
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NewsFidelity FutureWise grows to £25bn amid UK DC private markets push
The FutureWise workplace pension strategy has grown from £6.5bn since adopting a target date fund (TDF) structure in 2022
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NewsUK DC consolidation drive gathers pace as L&G default fund reaches £25bn
L&G says its flagship DC default fund exceeded government scale ambitions and private markets commitments
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NewsPGB defies trend with positive 2025 return – but only just
The Dutch multi-sector fund reaped the benefits of strong equity returns and a higher dollar hedge
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NewsVatican bank boosted by pension fund gains as net assets rise to €815m
Improved pension fund reserves and investment gains helped drive Vatican bank profitability and net assets higher
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NewsWeak dollar drags PFZW into loss despite strong credit performance
Dutch healthcare pension fund saw climate transition mandate make a 20% loss on returns
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NewsNBIM’s Tangen warns lawmakers of SWF’s unprecedented big tech concentration
AI development going faster ‘than seen before’, says NBIM CEO, as finance minister points to ‘great risk’ of concentration
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NewsInarcassa pulls €500m from US equities in portfolio rebalancing
Italian pension funds see Q1 volatility weigh down returns, with sub-funds for Cometa and Pegaso returning negatively
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NewsSiemens Pensionskasse targets direct lending to capture illiquidity premium
The Swiss pension fund refined its investment strategy and improved its risk/return profile following an ALM
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NewsFinnish pension CEOs say cuts talk is about weak state finances
Keva, Ilmarinen, Varma and Veritas reveal losses for January to March of between -0.1% and -0.5% after Iran war shook markets
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AnalysisIPE Netherlands Briefing: Dutch pension fund returns disappoint
Dutch pension funds delivered an average return of -2.9% in 2025 as positive equity returns failed to compensate for losses made on bond portfolios
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NewsNBIM beats benchmark in Q1, as three of SWF’s four asset classes contract
Norway’s giant SWF takes -1.9% hit on investments in the first quarter, with only unlisted real estate in positive territory at end of March
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NewsElo doubles pace of Finnish unlisted growth bets with €100m push in H1
Finnish pensions insurer posts narrowly positive Q1 return as bonds, property gains offset equities losses
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NewsRising rates wipe out asset gains as Dutch pension returns fall to -2.9%
HAL pension fund, the €166m pension scheme of the owner of FD Mediagroep (IPE’s parent company) returned 14%
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NewsPFA says moves to underweight US stocks, tighten dollar hedging paid off
Danish pension funds upbeat about their ability to weather war-triggered market rout
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NewsSwedish premium pension’s default fund paid off for most savers, agency finds
0-pp[Just over 13% of pension savers picking own funds actually outperformed AP7’s default product Såfa since the start, Pensionsmyndigheten reports
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NewsWhy Dutch funds made negative returns on private equity in 2025
Pension schemes partly blame high purchase prices in the period 2019-2021 for the poor returns over the past three years
