GERMANY- Global money managers are bullish on Germany's pension prospects, estimating it will be a hundred billion dollar market in the next few years.
Industry experts at Morgan Stanley place early indicators of the German market at around $430bn by 2010, although valuations are more conservative than other reported figures which place market potential somewhere between $614bn and $880bn.
Last year the the German parliament gave the green light to landmark pension reforms, paving the way for reform of the country’s beleaguered social security system and the introduction new private arrangements, or Pensionfonds.
According to Gareth Derbyshire, executive director of Morgan Stanley’s European pensions group, there is plenty of scope in the German market, although the progress of reform is slow and is further hindered by sluggish performance in equity markets.
By Madhu Kalia
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.