Released on: October 29, 2007, 4:44 am

Press Release Author: invest-biz.info

Industry: Financial

Press Release Summary: Ovetii research reveals that deficits of the top 300 European
companies\' pension schemes have dropped by 60% over the last 12 months as a result
of capital investment from Asia and higher savings.

Press Release Body: Yannis Papandreou a senior analyst at Ovetii, apparently said
that the latest pension deficit total for the companies in the FTSE Euro top 300
index has been reported by those companies to stand at €252bn, down from €332bn at
the end of September the previous year.

However, a source revealed that, by assessing asset growth since the release of the
companies\' annual reports and using current discount rates to estimate the growth of
pension scheme holdings, Ovetii now estimates that deficits have fallen to as low as
€131bn.

A spokesperson from Ovetii is said to have commented on the falling deficits saying
that, until this year the deficit has largely moved in an upwards direction. He said
that companies had weathered collapsing bond yields, a step-change in mortality
assumptions, and a stricter regulatory regime. The spokesperson apparently showed
little surprise at the latest developments, saying that it was no wonder the deficit
leapt up to €332bn last year, even in a backdrop of rising asset prices.

Papandreou reportedly said that money inflows from Asia meant there was now more
money chasing fewer assets, a main factor in price elevation and therefore, the
reduction of scheme deficits.


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