References
PROTINUS has advised a large number of international companies, foundations, insurance companies and other large-scale investors on their strategic allocation decisions. In the context of these projects, many of the companies were also advised comprehensively on issues relating to the set-up, design and operation of their pension vehicles and subsequently provided with ongoing support.
Below, we present a few select projects with their individual challenges as examples for our extensive range of services.
Client
Pension fund
DAX company
DAX company
Size
> €2bn
Project content
| ALM studies in two-year intervals | |
| Comprehensive forecasting to determine the annual contributions as well as the fund distributions required to generate the necessary return on book value | |
| Recognition of tax effects of distributions or realisation of income both in the tax balance sheet and in the commercial balance sheet | |
| Goal of the investment strategy: Ensuring stable growth of market value in order to build up hidden reserves and improve the coverage ratio | |
| Determine a range of different allocations for various levels of risk | |
| Simulation of the BaFin stress tests |
Size
> €2bn
Client
Pensions and
provident fund
Size
> €5bn
Project content
| ALM studies on an annual basis | |
| Extensive investment universe with different investment avenues (direct investment or funds) and options for reporting purposes (registered or bearer securities) | |
| Parallel analysis of national accounting rules (German HGB) and US-GAAP reporting in one model | |
| Parallel analysis of assets and liabilities from the perspective of both the pension fund and the group | |
| Identification of actionable strategic allocations for several different levels of risk |
Size
> €5bn
Client
Foundation
Size
Project content
| Annual allocation studies and presentation of the results to the supervisory body | |
| Detailed mapping of the foundation's typical objectives, including regular, inflation-protected distributions, strict preservation of the essential foundation assets | |
| Modelling of capital repayment schedules, as well as of individual unsellable illiquid investments, such as real estate and private equity investments |
Size
Client
Individual optimization of strategy for life insurance fund policies
Size
currently around 60,000 portfolios
Project content
| World's first implementation of fully automated optimisation of every single retail investor policy | |
| Very extensive, open-ended mandate, with extremely extensive due diligence (including external expert reports on processes, methods and systems of PROTINUS) | |
| Development of the entire IT structure as well as mapping of complex fund products in the investment universe, development of a range of conditional strategies to hedge returns |
Size
currently around 60,000 portfolios
Client
Risk controlling for
DAX company
Size
Project content
| Ongoing support for all risk controlling and reporting aspects relating to international pension matters | |
| Support for the initial establishment and continuing improvement of the information system on the corporate pensions vehicles at home and abroad | |
| Support for monthly management reports and the preparation of the annual financial statements. |
Size