NETHERLANDS - PME, the Dutch metal and electro-technical engineering sector fund, has announced its funding ratio has increased 5.2% over the past year.
The fund has reworked its asset mix this year and has reduced its fixed income exposure from 46% to 41% and equity exposure from 41% to 39%, as well as a 1% drop in property exposure to 6%. This was to clear assets for its special projects investments.
The funds special projects included Chinese equities, North American forestry and life settlements which make up 7% of the fund and returned 31.9% last year.
However, the total return for the fund was dented because of a -3.1% return on the interest rate hedge, investment return was 8.3% but total return was only 5.2% because of the interest rate rise in 2007.
The fund also scored second best in the Dutch responsible investment benchmark.
The recently published Dutch responsible investment benchmark, a study paid by Oxfam Novib and the Ministry of Foreign Affairs, showed that PME scored second best, just after PGGM.
The benchmark rates the policy, operations and transparency on responsible investments of the 30 largest pension funds and pension insurers.
The Department for Work and Pensions (DWP) has launched a website dedicated to signposting people to where they can receive guidance typically associated with a so-called 'mid-life MOT'.
This week's edition of Professional Pensions is out now.
Ben Gunnee reflects on 2018 and talks about the Fiduciary Management trends to keep an eye on in 2019
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