POLAND - Polish pension fund (OFE) assets under management rose by 5.7% during the month of April, the highest increase in the past year, according to data by research company Analizy Online.
Analizy Online attributed the improvement to the rally in the Polish Stock Exchange. The main Warsaw Stock Exchange index (WIG20), recorded a monthly growth of almost 19%, which was the highest number since January 2002.
In addition, the level of OFE assets in April was boosted by 1.1 percentage points by a cash injection from ZUS, a public institution servicing the social security system in Poland.
OFE Polsat was the best performer with a return of 7.1%, due to the fact it has the highest allocation to equities, accounting for 37.6% of its portfolio. ING OFE returned 6.2% and Generali OFE 6.1%.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers