Denmark: Harsh criticism of interest guarantees
Article Abstract:
Interest guarantees in the pension business were the target of harsh criticism yesterday during a conference held by the Association of Finance Analysts. Interest guarantees combined with share price cuts were claimed to threaten the existence of the pension companies. Peter T. Christensen of Nordea Markets said that the interest guarantees hamper investment strategies to such an extent that clients will not get optimum return on their investment. PFA is one of the companies that has been hardest hit by the recession and may find it difficult to cope with the competition. Giving up interest guarantees would be a way to solve this problem.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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DENMARK: NORDEA TO ENTER LETTISH PENSION MARKET
Article Abstract:
Nordea and the Danish Foreign Ministry are preparing a pension reform for Latvia, which should be ready for launch by January 2003. The pension reform means that Letts will gain access to private pension funds as a supplement to state pension schemes. The cooperation may be an advantage for Nordea. The bank hopes to manage some of the DKK12-25 billion that Letts will save up each year. Thomas Jensen, partner in Nordea Investment management, says that Nordea also has the advantage of being culturally and geographically close to Latvia. Nordea is already represented in the Baltic countries through Merita Bank.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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DENMARK: FALL IN PENSION INTEREST RATES IN 2002
Article Abstract:
Danish pension companies still have a high interest rate, with AP Pension and Tryg-Baltica Pension at the top with 10,50 percent and 9,50 percent respectively. According to most of the companies that the newspaper has spoken to, the interest rates will be forced down in 2002 to compensate the present fall in the stock markets. According to Michael Brag, at Tryg-Baltica, the interest rate will probably be lowered to a rate of around 6,5-7 percent. PFA Pension does not want to comment the possible declines, but emphasizes that no changes in the interest rates will take place this year.
Publication Name: Boersen
Subject: Business, international
ISSN:
Year: 2001
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