Returns – Page 145
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NewsFinnish insurer's first half assets make slow progress over Q1
FINLAND – Varma's growth slowed in the first half of the year, despite strong returns from private and unlisted equity, as well as hedge funds.
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NewsSwiss Pensionskassen return to the red
SWITZERLAND – After a year of consolidation the average Swiss Pensionskasse has fallen below a 100% funding level, calculates Swisscanto
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Defensive strategy pushes airline scheme off course
NETHERLANDS – Returns from the €5.5bn KLM pension fund for flying staff fell short of its 2009 target after a defensive strategy failed to capitalise on recovering markets.
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NewsCost-cutting sees Danish pension provider weather tough markets
DENMARK – Profits at Danish pension provider Danica showed strong growth at the half-year stage, with business boosted by revenue from Norway and Sweden rather than the domestic market.
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Private equity proves positive for TNO scheme
NETHERLANDS – The €2.1bn pension fund of TNO, the Dutch institute for applied science, has returned 7.9% during the first six months of 2010.
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NewsEquity exodus slows among largest UK company funds
UK – The UK's top 100 company pension schemes have temporarily halted their flight from equities to bonds with allocations to fixed income remaining static over the past 12 months.
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FRR sees weak second quarter, as it posts negative returns
FRANCE – Fonds de Réserve pour les Retraites (FRR), France’s national pension reserve, has seen a reversal of fortunes as it posted a -4.2% return in the second quarter to the end of June.
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NewsAustrian pension funds return 2.4% in H1
EUROPE – Pension funds in Austria returned just under 2.4% over the first six months of the year, according to figures from the Austrian Control Bank (OeKB).
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Managers for Irish pension funds rally in July, return 4.2%
IRELAND – Pension funds in Ireland saw their fortunes improve last month, as the market stabilised and the average managed fund began seeing year-to-date returns of 4.2%.
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NewsUK roundup: ACA, Barclays UK Retirement Fund, Pitmans Trustees
UK – The Association of Consulting Actuaries (ACA) has called for "better safety valves and flexibility" in the public sector pension scheme.
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NewsSupervisors blast executive board at €945m Dutch scheme
NETHERLANDS – The internal supervisors of the €945m occupational pension fund for Dutch notaries (SNPF) has blasted the executive board's performance in 2009.
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NewsUK roundup: Hymans Robertson, Premier Foods, AJ Bell
UK – Hymans Robertson has outlined its proposals for a "once-in-a-generation opportunity" for reform to public sector pensions in submissions made to Lord Hutton’s pension review.
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News€1.7bn Dutch fund loses two-thirds of return to interest hedge
NETHERLANDS – The €1.7bn pension fund for the Dutch food products industry returned 14.4% on investments, but lost 9.6 percentage points due to a 115% hedge of the interest risk on its liabilities.
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News€4bn PWRI returns 8.2% with new investment strategy
NETHERLANDS – The €4bn Dutch pension fund PWRI has returned 8.2% on investments after it decided to set up a mandate along main themes, with a wide geographical spread of equity and fixed income investments.
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NewsAon warns on overfunding as UK DB schemes cut deficit by 25%
UK – The 200 largest defined benefit (DB) schemes cut their funding shortfall by £26bn between June and July, according to figures released by Aon Consulting.
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DC schemes increase market share to a third of European pension assets
EUROPE – Defined contribution (DC) schemes have witnessed an almost uninterrupted increase in assets over the last five years and now account for almost a third of all European pension assets, according to Cerulli Associates.
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NewsIBM makes €277m contribution to Dutch pension scheme
NETHERLANDS – The €2.9bn Dutch pension fund of IT giant IBM managed to keep its coverage ratio at 123.1% at year-end, mainly due to a €277m additional contribution from its sponsoring company.
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NewsInterest in UK debt rebounds following CPI-link announcement
UK – Interest in index-linked gilts returned this week, after the UK Debt Management Office successfully sold £6bn worth of bonds maturing in 2040.
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NewsUK roundup: default retirement, Local Government Pension Scheme
UK – The government today confirmed its plans to abolish the default retirement age, allowing workers to continue in their position beyond 65.
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NewsInterest rates hit coverage ratios at large Dutch schemes
NETHERLANDS – The €5.3bn pension fund of steelworks Hoogovens, as well as two of KLM's large pension schemes, saw their coverage ratios hit by dropping long-term interest rates in the second quarter.
