Partly as a result of the introduction of the new Financial Assessment Framework (Financieel Toetsingskader – nFTK), pension funds are monitoring interest-rate risk. An average Dutch pension fund has a duration mismatch between its liabilities and its fixed-income investments. Several solutions have been suggested which includes buying long-dated bonds, LDI-funds ...
SWITZERLAND – The Swiss pension industry is confident the House of Representatives ( HR) will go the same way as the country’s lower house, which recently voted against levying stamp duty on the country’s domestic funds, says Peter Wirth of the Versorgeforum, the Swiss second pillar pensions forum.
UK – It’s still too early to know if pension funds have a right to action in the collapse of Railtrack, the UK’s railway station and track maintenance group, says Robin Ellison, chairman of the pensions group at the London office of international legal firm, Eversheds...
EUROPE – Institutional investors across continental Europe are increasingly outsourcing their asset management, according to the results of a soon to be published survey by Greenwich Associates(GA), the Connecticut based research and consultancy firm.
GERMANY – David Mark has been appointed chief executive officer of iBoxx, the new fixed income indices joint venture company between ABN Amro, Barclays Capital, BNP Paribas, Deutsche Bank, Dresdner Kleinwort Wasserstein, Morgan Stanley, UBS Warburg and Deutsche Börse.