June 2020

24Jun

Kenya proposes CMA to regulate private equity firms

Kenya, a popular investment destination for private equity (PE) firms, has proposed measures to make the operations of PE firms and venture capitalists more transparent by bringing them under the scrutiny of the Capital Markets Authority (CMA). Read also The Mixed Case for Private Equity in Retirement Plans The plan is already causing disquiet among PE firms whose fund raising and choice of companies to invest in is often shrouded in secrecy. The measures were announced by the National Treasury...

June 24, 2020
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24Jun

Milliman analysis: Estimated cost of retiree pension risk transfer drops significantly, from 105.5% to 103.9% in May

Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its new Milliman Pension Buyout Index (MPBI). As the Pension Risk Transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer. The MPBI uses the FTSE Above Median AA Curve, along with annuity purchase composite interest rates from insurers, to estimate the average cost...

June 24, 2020
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24Jun

‘Alarming number’: Boomers struggle to save enough for retirement, survey finds

Many baby boomers don’t have nearly enough money to retire. The median amount they have saved for retirement is $144,000, according to a recent survey from Transamerica Center for Retirement Studies, a figure that should be a “call to action” for boomers, said one financial expert. “When we think about it, $144,000 to last in retirement that could be 20 or 30 years just isn’t going to go very far,” said Catherine Collinson, CEO and president of the Transamerica...

June 24, 2020
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24Jun

US. New Labor Department rule reinforces pension funds’ fiduciary duties.

The Labor Department proposed a rule Tuesday that will govern how the $10.7 trillion invested in private pension plans should be managed in light of the push to consider the environment, social factors and corporate governance, or ESG, when making investment decisions. According to Morningstar, from 2018-19 flows into “sustainable” funds increased nearly fourfold, and the number of conventional funds claiming to consider ESG factors rose to 564 from 81. More than 3,100 institutional investors and businesses that provide...

June 24, 2020
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23Jun

México. Las Afore registran alza en rendimiento por segundo mes consecutivo

Luego de registrar minusvalías en marzo, el rendimiento del Sistema de Ahorro para el Retiro (SAR) registró en mayo un alza por segundo mes consecutivo, el rendimiento ponderado del sistema (últimos 36 meses y excluyendo adicionales) pasó a 7.01 por ciento desde 6.18 por ciento en abril, esto a consecuencia de una mejor perspectiva por parte de los mercados financieros globales, señaló Banorte. Leer también Propuesta de reforma del CCE al sistema de pensiones, con 90% de avance: Arturo...

June 23, 2020
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23Jun

La inversión responsable se dispara por el COVID-19 pero ¿ha sido igual el rally en Europa que en EEUU?

La inversión que se realiza con criterios responsables ha tenido en la crisis del COVID-19 su gran prueba de fuego para demostrar lo que venía defendiendo desde hace años: que es un tipo de inversión que consigue reducir el riesgo cuando el mercado colapsa. Al fin y al cabo éste ha sido el primer colapso fuerte de mercado al que se han enfrentado como industria consolidada ya que a nivel global cuentan con 30,7 billones de dólares, según el...

June 23, 2020
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23Jun

República Dominicana. Diputados aprueban en segunda lectura el 30% de las AFP para trabajadores

La Cámara de Diptuados aprobó hoy en segunda lectura el proyecto para entregar el 30% de fondos acumulados en las AFP a los trabajadores dominicanos por la crisis del coronavirus. El proyecto ahora debe pasar al Senado de la República Dominicana, que deberá aprobar en dos lecturas. También necesita de la promulgación del presidente Danilo Medina. Leer también República Dominicana. CONEP insiste dar el 30% de las AFP tendría “graves consecuencias” Esta mañana, el vocero de los diputados reformistas, Máximo...

June 23, 2020
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23Jun

European Parliament Approves CRR “Quick Fix” to Mitigate Economic Consequences of COVID-19

The measures grant relief for EU banks to enhance bank lending to companies and households. Read also Pension funds expect more focused passive approach On 18 June 2020, the European Parliament approved the so-called CRR “quick fix” to Regulation (EU) 575/2013 (Capital Requirement Regulation (CRR)) and Regulation 2019/876 (Capital Requirement Regulation 2 (CRR2)) to mitigate the economic consequences of COVID-19. The temporary measures are, inter alia, intended to enhance credit flows to companies and households, thereby supporting the EU’s economy....

June 23, 2020
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23Jun

How COVID-19 is impacting Nigeria’s pensions industry

Monthly data from Nigeria’s pensions industry shows that the country’s total pension fund assets stood at 10.6 trillion naira as at April this year with Federal Government Securities weighing 66.25 per cent of the total pension fund assets. The data also showed that new retirement savings account grew 85 per cent less in April 2020 compared to the same period in 2019. Pabina Yinkere, Chief Investment Officer at Sigma Pensions joins CNBC Africa for more. Read more @CBC Africa

June 23, 2020
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23Jun

COVID19 impact on the pension risk transfer market

This has had a compounding impact on the premium rates insurers charge for BPA policies. The strong demand from trustees and sponsors of pension schemes to purchase BPAs during 2019 gave insurers a strong negotiating hand to choose which counterparties they would engage with. Consequently, insurers’ focus has gravitated towards larger transactions (where the prize was worth the risk of being unsuccessful). Whilst competition amongst insurers enabled larger schemes to maintain a comparatively strong negotiating...

June 23, 2020
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