EUROPE - Despite positive performance from the equity and bond markets and a 60% increase in company contributions, the collective deficit of European pension funds only fell 6% in 2004, leaving a gaping deficit of e214bn at year-end, according to research by Dresdner Kleinwort Wasserstein (DrKW).
A research paper published by DrKW European and UK equity strategist Karen Olney on the Euro-top300 pension funds, revealed a mere 6% improvement in funds’ collective deficit last year, compared to...
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