SWITZERLAND - Transaction costs for trades in the Swiss stock markets dropped 8.92% from the first quarter to the second quarter, according to data released by State Street.
These costs include commissions, fees and opportunity costs and can make up two-thirds of total asset management costs, said State Street. Institutional investors spent 11.34 basis points on opportunity costs, 10.36 basis points on commissions and 0.35 basis points on fees.
However, the cost of executing trades in Switzerland is still among the highest among the main financial markets. Trades in the Dutch markets cost nearly the same as in the Swiss markets. The US comes in as the cheapest place to execute trades with average transaction costs of under 15 basis points.
Separately, the firm said the State Street Pension Fund Index, which tracks the returns of Swiss pension funds, was up 5.61% in the second quarter and up 3.35% for the first six months of the year.
State Street vice president and regional director of the investment analytic team for continental Europe Reto Tschäppeler said: "Markets have recovered sharply, particularly in April. However, there can be no talk yet of a lasting all-clear signal with regards to many pension funds' funding ratio and recapitalization needs."
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.