Does it pay to pay performance fees?
A new study finds no statistical evidence that returns of pension funds that pay performance fees for active investing are significantly higher or lower than the returns of pension funds that don't.
Does it pay to pay performance fees?
A new study finds no statistical evidence that returns of pension funds that pay performance fees for active investing are significantly higher or lower than the returns of pension funds that don't.
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Performance fees hardly worth it
An analysis of 218 Dutch pension funds has shown that paying performance fees has little impact on performance. Size of fund and specialisation were deemed more important for net returns.
Longer horizons lead to more investment
Dutch research has found that pension funds with longer horizons do hold more illiquid assets, but the correlation wanes after about 17 years and other factors also affect illiquidity tolerance.
More evidence big is better in pension funds
A pension fund that has 10 times more assets under management has on average 7.67 basis points lower annual investment costs according to a working paper from authors at De Nederlansche Bank, that explores the relationship between pension fund size and investment costs. Written by Dirk Broeders, Arco van Oord and David Rijsbergen the paper
Holland’s hybrid: defined ambition
Jan Tamerus, actuary director at PGGM, was instrumental in developing the new Dutch pension defined-ambition structure. Back in 2006, he was involved in looking at the sustainability of the defined benefit system and in concluding it was not in fact sustainable, the idea of defined ambition evolved. One of the key reasons for not going
Broeders develops risk-sharing formula
Senior economist, supervisory strategy at De Nederlandsche Bank, Dirk Broeders, has completed research which calculates an explicit formula for risk sharing by pension funds.
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