SWITZERLAND - Swiss pension funds have begun investing heavily in platinum, according to reports by trade press to the mining industry.
It has been reposted that Swiss pension funds have bought 20% of the Best Asset Class (BAC) Platinum fund.
Best Asset Class (BAC) fund manager Bernard Loriol is reported to have said that pension funds were likely to increase investment to platinum companies for at least the next three to five years as a result of development in China and growth in alternative energy sources such as fuel cell energy.
Loriol said pension funds may stop investing in gold to invest in the undervalued platinum, if the undervaluation of platinum exploreration persisted and the platinum story remained great.
Loriol’s Bushveld Fund reportedly achieved a performance of 65.7% last year, compared to 22.5% in 2005, and has realised returns of 29.3% in Q1.
The Department for Work and Pensions (DWP) will develop and test new ways to include 4.8 million self-employed workers in pension savings.
Opt-out rates at the end of June 2018 "remained consistent" with levels before the April contribution rate increase, according the Department for Work and Pensions (DWP).
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb next year.
The Financial Reporting Council (FRC) should be abolished and audit and advisory businesses should be split into separate entities to improve the sector for both savers and investors, two reports published today say.