World Finance declares winners of 2019 Pension Fund Awards

LONDON, July 12, 2019 (GLOBE NEWSWIRE) -- Pension funds are on the precipice of a dramatic overhaul. Due to the sector’s historically risk-averse nature, underperforming players have been able to slip under the radar, with retirement savers simply accepting low returns as par for the course. This year, however, has seen a substantial rise in regulatory appetite, meaning funds that are not delivering for investors risk being wiped out.

In these testing times, a strong sense of direction and adaptability are key qualities that set leading firms apart from the pack. It is these firms that World Finance is celebrating through its 2019 Pension Fund Awards.

Last year saw dismal financial performance in the pension funds sector, with the world’s seven largest markets experiencing their third-worst year of the last 20. Australia was particularly badly hit by claims of ineptitude and underperformance, as detailed in a report released by the Australian Productivity Commission. As a result, the country’s new Treasurer Josh Frydenburg pledged to seriously consider the report’s recommendations for a new ‘name and shame’ model and annual outcome tests, providing a wake-up call for floundering funds.

Despite poor results in 2018, the industry remains stable overall, thanks predominantly to its vast size; in the UK alone, for example, pension funds have over £1.5trn of assets under management. In order to safeguard their position for the future, however, large funds must improve their technological capabilities. Cybersecurity is one area that is ripe for revolution, as noted by the UK Treasury Select Committee; in 2018, it identified a spate of IT failures that cost the industry dearly.

As digital transformation continues apace, the funds that have already seen, and will continue to see, the greatest success are those that have incorporated new technologies, while also delivering on their regulatory responsibilities. It is these firms that World Finance is honouring in its Pension Fund Awards 2019.

To see a full list of this year’s winners, pick up the latest issue of World Finance, available in print, online and on tablet now.

World News Media is a leading publisher of quality financial and business magazines, enjoying a global distribution network that includes subscriber lists of prominent and senior decision-makers around the world.

World News Media
Elizabeth Matsangou
Editorial Department
+44 (0)20 7553 4162