Fees & Costs – Page 5
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Opinion PiecesGerman pensions sector backs cost rethink
Applause, which started mildly but ended robustly, suddenly reverberated in a packed Berlin conference room a few weeks ago. An audience of industry experts, pension managers, associations and trade unions clapped at the suggestion that Germany’s BaFin regulator should avoid repeating its exercise on cost reporting for IORPs, initiated by the European Insurance and Occupational Pensions Authority (EIOPA), and implemented in turn by BaFin. The exercise was a disappointment, and an excessive, unnecessary effort for the German pension industry.
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NewsValue over cost, says new UK pensions regulator chief
’Our position is clear: no saver should be in a poorly performing scheme that doesn’t offer value for money,’ says Nausicaa Delfas
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NewsBaFin challenges German pension funds, asset managers with costs reporting
The supervisory authority is carrying out a one-off investigation on costs of IORPs in Germany
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NewsUK roundup: BA Pensions appoints LCP for actuarial, consulting services
Plus: BlackRock gest FCA green light on long-term asset fund; Broadstone launches specialist admin service; FRC consults on revision to actuarial standards
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NewsPME admin switch to TKP leads to sharp cost savings
The scheme also saw a drop in asset management costs thanks to lower performance fee payments to private equity managers
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NewsABP to switch to passive investing
The €470bn Dutch civil service scheme is the last remaining all-active pension investor in the country
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NewsPMT to reduce private equity exposure
The Dutch pension fund for the metals industry aims to halve its exposure to the asset class to €4bn
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NewsArkwright beats McKinsey in tender for AP funds’ evaluation contract
Mats Langensjö and Claes Green to lead Arkwright team in annual evaluations of Swedish state pension funds
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NewsAPG pays higher bonuses despite negative return
Most bonuses were paid to private equity staff working from the Dutch firm’s New York office
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NewsTough PE fundraising environment yet to lead to lower fees
According to data provider Preqin, the average fundraising time for PE funds has risen from 13 months to 21 months since 2019
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NewsBrunel Pension Partnership makes cost savings of £34m ahead of 2025 target
The pool claims to be saving almost four times the costs it incurs thanks to the management fees it negotiates
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NewsTPR’s new funding code causes cost concerns for DB schemes
Nearly half of trustees and sponsors (42%) are concerned about the additional governance challenges, and in turn associated costs, that the code will bring
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NewsLower accruals age adds 100,000s to pension fund member tally
Three sector funds in low-wage industries expect the bulk of new 18-21 year-old members
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NewsVarma beats Ilmarinen on 2022 returns but shrinks faster
Varma suffers 4.9% investment loss in 2022, while Elo loses 3.7% and Veritas sheds 4.5%
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NewsItalian pension fund association calls on government to cut tax burden on returns
The association is also demanding the government replaces the pro-rata standard to calculate pension benefits
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NewsDespite 6.6% investment loss, Ilmarinen refunds €175m as costs fall
Finnish pensions insurer says solvency rules must change
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NewsAUM roundup: Italian pension funds’ total assets drop
Plus: Asset management costs of Swiss pension funds reach CHF5.1bn
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NewsUK pension regulator trio launches value for money consultation
Requirements to disclose and assess additional information should be unduly burdensome, says DWP
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NewsBond portfolio correction knocks down Swiss BVK’s returns
BVK returned -11.2% at the end of 2022
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NewsBritish employers could face £34bn bill following new pension rules, says LCP
Employers could find themselves receiving demands from schemes for large sums, collectively running into tens of billions of pounds
