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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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
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NewsAPG’s active equity strategies underperform benchmark by almost 7%
The pension asset manager posted a negative return on its actively managed listed equities strategy in 2025, underperforming its benchmark by 6.9%
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AnalysisHow investors are reacting to Europe’s carbon price
The EU Emissions Trading System is up for review this year, with the Commission expected to publish a legislative proposal on its post-2030 design by the summer
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NewsRecord funding ratios prompt DAX firms to rethink pension strategies, allocations
DAX firms achieved a 2.2% return on pension assets through active management, navigating a challenging economic and geopolitical environment, says WTW
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NewsPortuguese pension funds return 5.1% for 2025
2025 was a strong year for European equities, which had lagged US equities in most recent years, says WTW
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NewsPension funds drive recovery in German Spezialfonds after lean years
German pension funds led a sharp rebound in Spezialfonds inflows, as institutional demand recovered strongly in 2025
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NewsIcelandic pension fund majors beat the average, as inflation weighs on all
Gildi reports 3.3% real return for 2025, LV produces 3.2%, while smaller Stapi delivers 1.8%
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NewsGermany eyes boost in pension investment via global equities
Policymakers and industry push to expand occupational and private pensions, eyeing equity markets to drive returns
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NewsGerman dentists’ pension fund rejects industry association claims
ABV, Germany’s association of pension funds for professionals, is pressing for faster audit of VZB
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AnalysisIPE DACH Briefing: Compenswiss overhauls asset allocations
Plus: Beate Petry, chair of aba, said the occupational pension association backs further reform to open social partner defined contribution models to third parties
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NewsSwedish funds agency plans launch of €2.7bn healthcare/biotech tender
FTN says comparative returns data for first tracker procurement shows premium pension reform set to deliver average 0.5% point higher returns
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AnalysisEuropean pension funds report mixed results
Denmark’s ATP posts stellar results, while pension funds in the Netherlands were hit by underperforming interest rate hedges
