CHILE - Assets in Chilean pension funds grew in the month of July to US$102bn, but remain at a lower level than one year earlier, according to data from Superintendencia de Pensiones, the national pension watchdog.
Assets grew 2% for the month, but remain lower than the $103.5bn in assets the funds posted on July 31, 2008.
The pension schemes are divided into five funds that carry different levels of risk with type A being the most risky and type E the least.
Funds A, B, C, and D returned 6.47%, 4.9%, 3.45% and 2.24%, respectively, in the month of July. The funds' investments in international equity mainly drove returns. Exposure to overseas equities range from 55.6% for the riskiest fund to 9.8% for fund D. Fund type E returned 0.92% for the month.
In the year ended July 31, fund type A returned 7.88%, the strongest return of all the funds, while type E, the weakest, returned 3.49%.
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.