3/7/2009
By Sophie Baker
The Local Government Pension Institution (LGPI) has signed an agreement with Ortec Finance to license its Asset Liability solution for pension plans.
The pension institution for local governments in Finland will be able to formulate ALM strategies based on Ortec Finance's scenario generation, asset and liability methodologies.
"Based on our extensive evaluation process, we selected Ortec Finance due to the strength of its offering as well as their proven experience in supporting organisations like ours throughout the strategy development process," commented Timo Viherkenttä, deputy CEO at LGPI. "While the technical evaluation of the tool is important to us, so is the partnership we expect to build with an organisation like Ortec Finance."
Managing director at Ortec Finance, Sinikka Demaré, added: "We are delighted that a professional organisation like LGPI has chosen us and look forward to a long-term strategic partnership with this team."
Other stories you may find of interest:
Germans require education on pensions – Fidelity
Many Germans are clueless about the build-up of their pension, a new study by Fidelity International has shown. The investment company said that despite all the initiatives to improve people’s pensions knowledge, most employees neither know how high their pension will be nor are they familiar with the three pillar pension system
Industry responds to EIOPA consultation
Pension and investment associations across Europe have expressed different views on what they see as the future of cross-border pension provision, as the European Investment and Occupational Pension Association (EIOPA) closed its consultation on the IORP Directive yesterday
European mandates July 2009
The O2 Pension Plan has selected BlackRock as investment only defined contribution (DC) provider, to £30million in assets. The deal, for which O2 has selected BlackRock's DC Diversified Growth Fund as part of its default option, means the 3,000 members of the fund will be able to select BlackRock funds, including its DC UK Focus Fund
