VICTORIA-VOLKSBANKEN Pensionskasse a top performer yet again
Press release 1 March 2011
The successful retirement fund is part of the ERGO Group’s extensive company provision portfolio.
In 2010, the performance of the VICTORIA-VOLKSBANKEN Pensionskasse, published in mid-February by the Oesterreichische Kontrollbank, amounted to a cumulated 8.8 percent. This is 2.2 percentage points higher than the average value of all of Austria’s cross-company retirement funds. This makes it the fourth year in a row that the result has exceeded the market average.
Depending on the risk profile, the investment results for the VICTORIA-VOLKSBANKEN Pensionskassen AG lay between 5.9 and 10.4 percent in 2010. For Board member Claudio Gligo this is a logical consequence of the company’s consistent long-term development of its investment process. “This above-average performance, which was maintained even during the recent global financial crisis, is the result of our innovative asset management. Using our distinct risk management as a basis, we are proactive in our strategies for dealing with the changing market circumstances in the various investment classes. What is most important to us is the quality of the selected investment instruments. Consequently, in 2010 our members with accrued entitlements and other beneficiaries in the investment and risk community were not affected by the negative effects of the debt crises in the PIGS countries, where we did not make any investments at all.”
The VICTORIA-VOLKSBANKEN Pensionskassen AG is one of the operational businesses of the holding company ERGO Austria International AG and is part of the company’s extensive offering in the area of company provisions. “We pooled all of the ERGO Austria services relating to company old-age provisions into one independent area. We combine company insurance solutions, retirement fund solutions and employee provisions all under one roof. Independent of the selected product or the risk carrier behind it, we provide the customer with a solution that is tailored for his or her needs. That makes us unique on the Austrian market,” explains Axel Hartleib, Chairman of the Board of Management at VICTORIA-VOLKSBANKEN Pensionskassen AG.
The retirement fund also has a special role when it comes to looking after internationally active companies. “We are the only retirement fund in Austria that offers across-the-board bilingual assistance in the areas of consultation and ongoing support. The cost benefits for companies that are active outside of Austria too are also ensured by our collaboration with the largest and oldest international insurance network IGP (International Group Program).”
The company’s competence in international service and successful investment management has brought it international recognition. In 2010, the VICTORIA VOLKSBANKEN retirement fund was the recipient of the IPE Award as ‘Best Pension Fund in Austria’ for the second year in a row. The IPE Award is presented on the basis of the judgement of an expert panel of international specialists in company provisions.
Further information under www.bav.victoria.at.
Mag. Claudio Gligo
Member of the Board of Management, VICTORIA-VOLKSBANKEN Pensionskassen AG
Tel 050 4004-3880
The investments for the Victoria-Volksbanken retirement fund are carried out by Volksbank Investments, the asset management unit of the Volksbank Group. Volksbank Investments administers an investment volume of over 8 billion euros on behalf of institutional investors; in particular, insurance companies, retirement funds, charitable foundations and private companies. A specially set-up competence centre develops tailored asset management solutions to ensure that all customer needs are taken into consideration. The focus for all clients is on asset allocation and risk management.
About ERGO Austria
ERGO Austria International AG includes the operating insurance companies BANK AUSTRIA Versicherung and VICTORIA-VOLKSBANKEN Versicherung, as well as ERGO Insurance Service GmbH, in which back office activities such as assessment, accounting, controlling, human resources and IT have been brought together. ERGO Austria currently has operations in Hungary, Slovakia, the Czech Republic, Croatia, Slovenia, Romania and San Marino. As part of strategic alliances with their partners UniCredit / Bank Austria and the credit unions, BANK AUSTRIA Versicherung and VICTORIA-VOLKSBANKEN Versicherung offer a differentiated range of products that meets its customers’ requirements for all areas of private provision and long-term investment in Austria and in anumber of other countries in Central and Eastern Europe. ERGO Austria International AG in Vienna is a subsidiary of ERGO Versicherungsgruppe AG, based in Düsseldorf.
More information is available at www.ergo-austria.com