POLAND - New results published reveal investment funds (TFI) and Polish PTE pension societies have recorded losses of ZL35.4m and ZL233.8m last year - respectively 8.3 and almost 400% better than the equivalent results for 2000.
The TFI sector saw total combined income of more than ZL176m, 7.9% down on 2000, with the share of management fees in overall income rising by 16% to 55% of total income. PTE income rose 12.1% to ZL820m with distribution fees accounting for 6% less of this sum than a year earlier.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.