June 2017

13Jun

India. PE/VC investments hit 10-year high at $3.1 bn in May

Private equity and venture capital (PE/VC) investments have recorded the highest monthly investments in the past 10 years at $3.1 billion in May 2017. For the third consecutive month in a year, the investment flow crossed the $2-billion mark. The financial services sector topped the table on account of the $1.4-billion investment by Softbank in Paytm. This deal accounted 46 per cent of aggregate deal value for the month. According to Ernst & Young (EY) data, the month recorded a 264...

June 13, 2017
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12Jun

Colombia. Los problemas pensionales

En el primer semestre de 2016, la Superintendencia Financiera reportó que las utilidades de los fondos de pensiones arrojaron $866.000 millones. Las administradoras de pensiones obligatorias ganaron $366.000 millones y el saldo correspondió a las voluntarias, que cuentan con generosas exenciones del fisco para los ahorristas. Los bancos ganaron nueve veces más en el mismo período. Los fondos de pensiones privados invierten los ahorros de sus afiliados en papeles de deuda pública, renta fija y acciones, incluyendo títulos en dólares, de...

June 12, 2017
Noticias
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12Jun

Chile. El 70% de los cotizantes más antiguos de AFP tiene ahorros de hasta $ 50 millones

Con esto se financia una pensión de $ 225 mil para un hombre y de $ 199 mil en el caso de una mujer. Un 8% de los cotizantes que ingresaron al sistema entre 1981 y 1985 tienen más de $ 100 millones. El 70% de los cotizantes más antiguos de AFP tiene ahorros de hasta $ 50 millones El 70% de los actuales cotizantes más antiguos del sistema de pensiones acumula hasta $ 50 millones en su cuenta de capitalización...

June 12, 2017
Noticias
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12Jun

En México, desconocen 6.2 millones su Afore

Al menos 6.2 millones de mexicanos saben que tienen una cuenta de Afore, pero desconocen en cuál de las 11 están inscritos, informó la Comisión Bancaria y de Valores (CNBV). De acuerdo con el octavo reporte nacional de inclusión financiera, de los 31.3 millones de adultos que saben que tienen una cuenta de ahorro, 20% no sabe que Afore administra sus recursos. En detalle, 5 millones de adultos desconocen su Afore son trabajadores activos, de los cuales, 77% son empleados u...

June 12, 2017
Noticias
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12Jun

Regulator questions UK pension providers on use of offshore reinsurance.

The UK’s Prudential Regulation Authority, a division of the Bank of England, is reported to have begun questioning UK pension insurers and providers over their use of offshore reinsurance to transfer pension risks. Bank of England logoWith pension de-risking a top priority for insurers, as pension providers grapple with lower returns and longevity risk, among other issues, offloading some or all of a pension scheme to reinsurers has become increasingly attractive. The UK’s Times newspaper reported at the weekend that Sam...

June 12, 2017
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12Jun

SSI Asset Management eyes pension fund ops in Vietnam

The capital market in Vietnam has seen a snowballing expansion throughout the last few years. In the years 2011-2015 as Vietnam kicked off its plan to catapult the capital market, the stock market jumped nearly three times in terms of capitalisation and attracted 50 per cent more investors. In 2016, the market capitalisation rose 26.6 per cent year-on-year to reach $72 billion. Vietnam is now also building a pipeline to grow more instruments such as pension funds and derivatives by 2020....

June 12, 2017
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12Jun

Pension Fund’s Portfolio Decisions: The Dutch Data

DeNederlandscheBank (DNB) issued a working paper this spring about the impact of liquidity and capital constraints on defined benefit pension plans. The paper has three authors, Dirk Broeders, Kristy Jansen, and Bas Werker. The first named author, Broeders, is the only one formally affiliated with DNB. The others are affiliated with Maastricht and Tilburg Universities, respectively. Their paper contains the usual caution that these are the views of the authors, not those of the DNB itself. The relevant definitions are as...

June 12, 2017
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11Jun

Pensions: What Solidarity between Generations?

By Gérard-François Dumont (University of Paris 4 Sorbonne) To understand the fact that solidarity between generations is essential for pensions, Gérard-François Dumont presents a parable inspired by the story of Robinson Crusoe. It shows that it is always the case that assets reduce their purchasing power to release payments to pensioners, whether they are in a distribution or capitalization system. According to the author, "capitalization is a system of financial distribution; Distribution is a system of human capitalization". (more…)

June 11, 2017
Articles, Labor Market, System Sustainability,
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11Jun

Public Pension Reform and the Takings Clause

By Michael B. Kent Jr. (Campbell University) Of the many current issues facing state and local governments, perhaps one of the most pressing is public pension reform. According to the U.S. Census Bureau, there are nearly 4,000 public pension systems in the United States, the vast majority (3,742) of which are administered by local governments. As of 2014, these systems had more than 19,000,000 members and more than 9,000,000 beneficiaries receiving periodic payments. But many of these systems are in...

June 11, 2017
Articles, Pension design, Regulation, System Sustainability, ,
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11Jun

We’ll Live to 100 – How Can We Afford It?

The challenges we face to provide our ageing societies with a financially secure retirement are well-known. In most countries around the world, standards of living and healthcare advancements are allowing people to live longer. This should be celebrated, but we should also consider the implications for the financial systems that have been designed to meet our retirement needs, which in many countries are already under severe strain. This report has been produced as part of the Forum’s Retirement Investment Systems...

June 11, 2017
Aging, Articles, Labor Market, Pension design, , ,
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