SWEDEN - Swedish occupational pensions company Alecta has posted a return of 6.3% for the first nine months of the year, boosted by strong performance in the real estate portfolio.
The return was above the industry average, which according to the Swedish Financial Supervisory Authority was 5.1% for the same period, Alecta said.
The company’s profit after tax was SEK16.3m.
President Tomas Nicolin commented: “ In the first nine months of the year we have succeeded in reaching a total return that is above the industry average.
“We have achieved this excellent return despite a comparatively low proportion of equities which means that the risk in Alecta’s portfolio is lower than for many other Swedish life insurance companies.”
Nicolin said all three of its asset classes performed well but best performance was noted for the real estate portfolio, which achieved a return of 9.2% for the first nine months. Equities returned 7.6% and fixed income 5.3%
Alecta’s collective funding ratio was 126% on September 30 and the company has SEK330bn assets under management.
Alecta handles the major part of the ITP pension plan on behalf of the Confederation of Swedish Enterprise and the Federation of Salaried Employees in Industry and Services (PTK).
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.