News in brief: 3 February

Czech dynamic supplementary pension funds closed the year with an average return of -10.94 per cent, according to the Association of Pension Companies of the Czech Republic.

Alongside this, balanced supplementary pension funds returned -6.24 per cent. The association stated that the appreciation of pension funds was negatively affected by the overall poor economic situation. It noted that despite the poor 2022 returns, pensions were long-term savings vehicles and dynamic pension funds had an average annual return of 4 per cent in the 10 years of their existence.

Dutch pension fund PGB has reported that its current funding ratio closed 2022 at 113.2 per cent.

This is 0.3 percentage points lower than in January 2022 and 7.2 percentage points lower than at the end of November 2022. Meanwhile, the pension fund’s policy funding ratio, which is the average current funding ratio from the previous 12 months, fell from 119 per cent to 118.7 per cent in December 2022.

Glennmont Partners, Nuveen Infrastructure’s clean energy specialist, has invested in an onshore wind portfolio in Sweden.

The investment if the first from the open-ended €700m brownfield European renewable infrastructure fund, which was launched with Dutch investor MN last year to invest in brownfield renewables projects in Europe. The transaction will see the fund acquire Langmarken wind farm in Kristinehamn, Southern Sweden, which has a total capacity of 19.8MW, and Vasberget wind farm in Ljusdal, Northern Sweden, which has a 27.6MW capacity. Vasberget and Langmarken have been purchased from Eolus and the French asset manager Mirova, an affiliate of Natixis Investment Management.

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