DENMARK: PENSION FUNDS SECURED AGAINST INTEREST FALL
Article Abstract:
A number of Danish pension funds have chosen to insure themselves against technical insolvency if the interest rate should drop for a longer period of time. If the interest rate should drop to a certain level, pension funds would not be able to fulfil their 4.5 per cent interest guarantee. Pension funds have invested approximately DKr10 billion in insurance against a fall in the interest rate. The insurance allows pension funds to invest and still comply with the demands of the Danish Financial Supervisory Authority.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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DENMARK: PENSION FUNDS HAD DIFFICULT FIRST HALF-YEAR
Article Abstract:
Danish pension funds generally had negative yields on shares during the first six months of the year. This means that pension funds are a long way from obtaining last year's yields of up to 30 per cent. Among Danish shares only five funds had positive yields. Most foreign shares have also had negative yields, however, SkandiaLink is able to present a 45 per cent yield on its Russian Alfred Berg fund. Bonds generally had positive yields with results of 2-3 per cent during the first six months.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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DENMARK: PENSION FUNDS HEADING TOWARDS INSOLVENCY
Article Abstract:
The Danish Financial Supervisory Authority, Finanstilsynet, is strengthening its demands upon pension funds which are based on trade unions. Finanstilsynet has sent a letter to the unions asking them to increase their net capital considerably. However, a number of them say that they do not have that kind of money and are in serious risk of having to declare themselves technically insolvent. The money may also in fact be there, but simply placed on the wrong account.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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