GREECE – A “huge bet” on Greek government bonds has seen a fund for pension schemes in Greece almost double assets under management (AUM) in around six months. This is a boon for its clients following the restructuring of Greek debt in March 2012, in which the crisis – hit country’s pension funds, which were heavily invested in domestic bonds, lost an estimated total of € 10bn. However, compensation for the losses promised to Greek pension funds by the government has yet to materialise. The Athens – based Hellenic Pension Mutual Fund Management Company (HPMF), which manages pooled funds exclusively for state retirement schemes, saw assets under management slump from €496m in January 2012 to €3 84m at the end of June.
Click here for the full articleGREECE – A “huge bet” on Greek government bonds has seen a fund for pension schemes in Greece almost double assets under management (AUM) in around six months. This is a boon for its clients following the restructuring of Greek debt in March 2012, in which the crisis – hit country’s pension funds, which were heavily invested in domestic bonds, lost an estimated total of € 10bn. However, compensation for the losses promised to Greek pension funds by the government has yet to materialise. The Athens – based Hellenic Pension Mutual Fund Management Company (HPMF), which manages pooled funds exclusively for state retirement schemes, saw assets under management slump from €496m in January 2012 to €3 84m at the end of June.
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