Returns – Page 164
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NewsConsultant calls for longer Belgian recovery time
BELGIUM – A Belgian pensions consultant has warned local pension plans need more time to meet funding recovery plans, as the industry-standard short time frames are placing undue pressure on executives and company sponsors to meet full funding targets.
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FRR enjoys recovery ahead of allocation shift
[16:30 CEST 24-08] FRANCE – Fonds de Reserves pour les Retraites (FRR), the French national pension fund, managed to claw back some of the losses it suffered on investments last year, ahead of changes to its strategic asset allocation.
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AP2 generates 6.4% gain
[16:10 CEST 24-08] SWEDEN – Andra AP-fonden (AP2), the Second Swedish National Pension Fund, has managed to undo some of the losses from last year as active in-house management of certain investments helped generated a first half return of 6.4% on its portfolio.
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Swisscanto sees easing of funding crisis
[15:50 CEST 24-08] SWITZERLAND – The average funding level of Swiss pension funds has recovered slightly since the beginning of this year to 93.4%, according to Swisscanto calculations.
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Horeca pension losses spark passive move
[15:00 CEST 24-08 NETHERLANDS - The €2.5bn pension fund for the hotel and catering sector (PH&C) has changed its asset management approach from active to mainly passive.
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Alecta posts 2.2% H1 return
[17:15 CEST 21-08] SWEDEN – Alecta has revealed the value of its investments increased by SEK6.4bn (€630m) in the first half of 2009, following an overall return of 2.2%.
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Ilmarinen investments jump €2bn on 6.6% return
[17:10 CEST 21-08] FINLAND – Ilmarinen Mutual Insurance Company has reported an increase in its investment assets of €2bn in the first half of 2009, as it revealed its "best ever quarter" in terms of investment performance.
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UK self-certified schemes to require 7.6% contribution
[17:00 CEST 21-08] UK – Initial draft regulations outlining the requirements under which employers will be able to "self-certify" that their existing pension scheme meets the criteria for auto-enrolment, are likely to require a minimum contribution threshold of 7.6% of qualifying earnings, IPE has learned.
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Finnish H1 pension figures stay positive
[16:00 CEST 20-08] FINLAND – Three of Finland's mutual pension insurance companies have posted positive first half results, but Tapiola Pension yielded the highest return of 4.9%.
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UK DC assets rise almost 7% in July
[16:40 CEST 19-08] UK – The combined value of the UK's defined contribution (DC) pension assets rose by £31bn (€36bn) in July and returned schemes collectively to the same levels recorded in September 2008, suggests data presented by Aon Consulting.
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Swiss pension figures brighten funding picture
[16:40 CEST 18-08] SWITZERLAND – Figures released by the supervisory authorities of the cantons of Solothurn, Basel-Land and Basel-City suggest only 32% of local pensionskassen are underfunded.
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Positive gain for Varma ups assets by €2bn
[16:50 CEST 17-08] FINLAND – Varma Mutual Pension Insurance Company reported a first half return of 4.6%, resulting in the value of the investments increasing by almost €2bn to €26.5bn.
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Czech funds see fresh growth in 2009
CZECH REPUBLIC – The 10 pension funds of the Czech third pillar returned an average of 3.1% in the first half of 2009.
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Norway-Global to drill water management
[16:00 CEST 17-08] NORWAY – A revised strategy for active ownership has been adopted by the Executive Board of Norges Bank for the Norway Government Pension Fund – Global, to include a new focus area on water management.
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Merger to create new fund for Swiss canton Valais
SWITZERLAND – The Swiss canton of Valais is finalising a merger between its two public pension funds, to increase the funding level and eventually change from a DB to a DC scheme.
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Czech Allianz fund grows assets to €283m
CZECH REPUBLIC – The Czech third pillar fund of Allianz posted an increase in members, assets under management and profit for the first half of 2009.
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Basel fund proposes contribution hike for 19 years
SWITZERLAND – The government of the Swiss canton of Basel City has refined recovery plans for the civil servants fund PKBS, which will include a one-off payment of CHF 1.12bn (€730m).
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ING in insurance rethink
EUROPE - ING is to integrate its Dutch insurance activities under the Nationale Nederlanden brand, and will create a single insurance operation in the rest of Europe, including Central Europe.
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Improved equity returns lower pension deficits
[16:55 CEST 11-08] UK – Positive activity in the equity markets lowered the UK’s total pensions deficit last month, however the aggregate funding level of UK pension funds is still at a deficit of £158bn (€184bn).
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Romania sees fresh growth in 2009
ROMANIA – Second pillar funds in the Romanian pensions market performed a fraction better in the first seven months of this year than third pillar funds, according to the latest figures from the Romanian Pension Funds’ Association (APAPR).
