Returns – Page 186
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ABP returns 3.8% in "two-faced" 2007 (Update)
[14:00 CEST 20-05] NETHERLANDS – The €216.5bn ABP fund, the industry wide scheme for Dutch civil servants, praised 2007 as a good year, despite booking its lowest investment return in years.
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€16m cash injection cuts IAA deficit by €6.5m
[16:20 CEST 28-04] IRELAND – The Irish Aviation Authority has reduced the deficit on its defined benefit scheme by only €6.5m, despite additional cash contributions of more than €16m in 2007.
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22% of Irish schemes have reduced benefits – Mercer
[12:30 CEST 28-04] IRELAND – Around 22% of Irish defined benefit (DB) pension schemes have modified their benefits in the last two years, and have generally reduced future benefits in some form, according to consultancy firm Mercer.
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‘Reform Dutch first pillar’ – OECD
[16:50 CET 31-01] EUROPE – The Organisation for Economic Co-operation and Development (OECD) has proposed reforming the Dutch first pillar pension system, which unrevised will account for the bulk of future deficits.
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ABP sees strong profit in alternatives
[15:00 CET 16-01] NETHERLANDS - Alternative investments was the best returning asset class for the large civil service pension scheme ABP, while total returns on investments reached 3.8% during 2007.
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Aargau to pay CHF1.7bn into pension
[14:00 CET 21-12] SWITZERLAND – Standard & Poor’s has awarded the Swiss canton of Aargau the top credit rating ‘AAA’ partly because of the region’s commitment to fully fund its Pensionskasse from next year.
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100,000 waiting at PPF doorstep
[13:00 CET 29-10] UK – At least 170 pension schemes in deficit are now in the assessment period, the Pension Protection Fund (PPF) disclosed in its annual report.
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2007 is a good year for Dexia so far
[16:55 CEST 31-08] BELGIUM – Belgian-French financial services group Dexia reported assets under management reached €111.1bn to June 30, up by 2.5% in the second quarter of 2007.
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Aargau scheme in search for new members
SWITZERLAND – Aargauische Pensionskasse (APK), a CHF6bn (€3.7bn) pension fund for civil servants in the northern canton of Aargau, has posted an an above-average return for 2006 and said that it will open its doors to extra-cantonal employers.
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Aberdeen wins £7.7bn in five months
UK - Aberdeen Asset Management plc has won new business worth £7.7.bn (€11.3bn) in the five months to the end of the February.
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ABP returns 9.5% for 2006 and announces new strategic portfolio
NETHERLANDS – Giant Dutch pension fund ABP booked a fourth quarter return of 3.9%, and a total return of 9.5% for 2006, raising the scheme’s entire assets to €209bn.
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ABN Amro asset management quarterly profit slips
EUROPE - ABN Amro said third-quarter net profits at its asset management business fell 5.7% pct to €50m from €53m in the prior year period.
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€5.3bn Hoechst fund wary of alternatives
GERMANY – Hoechster Pensionskasse (HPK), the €5.3bn pension fund for companies that were part of the old Hoechst chemical conglomerate, says it is wary of investing in alternative asset classes currently due to what it perceives as weaknesses with the products.
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Negative returns at Dutch transport, postal funds
NETHERLANDS - The Spoorwegpensioenfonds SPF has booked negative returns of -2.5% during the second quarter of 2006, the €11.1bn scheme reported.
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IBM members fear €7.2bn pension fund sell-off
UK – Fears have emerged that computer giant IBM may decide to sell its £4.9bn (€7.2bn) UK defined benefit pension plan now it has returned to being fully-funded.
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Big Dutch funds increase equity trading – paper
NETHERLANDS - The largest Dutch pension funds are becoming more active as equity traders, keeping shares for increasingly shorter periods in their portfolios, a survey has shown.
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Equity, real estate boost Dutch medics
NETHERLANDS – Equity and real estate were the main drivers behind above-benchmark returns at the €4.7bn scheme for Dutch medical consultants, Stichting Pensioenfonds Medisch Specialisten.
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Equity and real estate drive Stork’s returns
NETHERLANDS - With returns of 29.3% and 29.1% respectively, equity and real estate were the main drivers behind a 14.7% annual return last year at the €2.9bn pension fund of industrial group Stork.
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€4.7bn MNOPF gradually migrating to bonds
UK – The £3.2bn (€4.7bn) industry-wide Merchant Navy Officers Pension Fund, which is currently in the middle of its triennial valuation, is looking to gradually shift from equities to bonds.
