SWITZERLAND - Swiss pension funds lost 6.8% during the fourth quarter of 2008 in the largest quarterly drop since 2000, Credit Suisse research reveals.
The analysis on asset allocation diversification showed three main changes. The maximum real estate component rose from almost 52% to almost 55% and the liquidity maximum increased from 35.7% to 39.3%.
The maximum for both Swiss and foreign equity classes fell by around 2% each, while the maximum for the two bond classes increased by around 2% each.
Compared to the previous quarter, Credit Suisse said Swiss franc exposure rose by another 1.50% and reached a new all-time high, mainly to the detriment of the US dollar (- 0.7%) and the Euro (- 0.3%).
In the last quarter of 2007 and the first quarter of 2008, the analysis showed anticipated volatility started rising as a consequence of the market turbulence - but pension funds overcompensated this trend by actively shifting weight to other asset classes, which generally reduced volatility.
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.