Asset manager and fund are now more clearly defined in Norway’s domestic government pension scheme, which completes a shake-up that has also seen a shift in the fund’s investments, writes Caroline Liinanki.
All but one of the Nordic region’s biggest pension funds saw returns fall last year, and worst-hit Denmark is blaming poor bond performance and reliance on derivatives. Reeta Cevik hears how investors are planning to dig themselves out of the unexpected downturn.
Danica Traditional’s 2006 performance was disappointing after a buoyant 2005, but the fund’s chief investment officer says its problems are over. Reeta Cevik finds out how the firm’s risk management, diversification and foreign expansion have helped.
Peter Norman, executive president of Sweden’s seventh AP fund, is an advocate of pure alpha, urging investment managers to create products that do not allow them to hide behind beta performance. Hugo Greenhalgh spoke to him about the fund’s alpha-beta split, the functioning of the PPM system and the fund’s future investment plans.
Veritas is looking to get the best of both worlds by preparing for long-term goals while keeping one eye on short-term opportunities. However, one of the fund’s guiding principles is to stick to what it knows and get the best out of the sectors it has mastered. Reeta Cevik reports.
The Danish Early Childhood Teachers pension fund is doing well thanks to limited immediate liabilities and the low average age of its members. Thomas Escritt finds out how it is enticing them over from a defined benefit to defined contribution system.
The restrictive investment guidelines in place at Etera when new CIO Mika Pesonen arrived did not suit his vision for the fund. He is now in the process of changing the guidelines to allow the scheme to take a more tactical approach and to keep up with its competitors.
Like many, Norske Shells Pensjonskasse has struggled with the cooling of the global markets. However, its desire to diversify into alternatives and equity investments has been hampered by a strict Norwegian regulatory environment. Reeta Cevik reports.
With the consolidation of Iceland’s second-pillar pension funds, LSJ Nordurlands expects to merge with other schemes in the near future, but it is determined to dominate post-merger. Iain Morse speaks to the country’s sixth largest pension fund on this and its investment strategy going forward.
Bank Pension’s 2005 performance was impressive, but recent market turbulence has meant that they have struggled in the first half of this year. However, this well-diversified yet conservative fund has no intention of initiating any radical shake-ups. Reeta Cevik reports.