Asset Allocation – Page 114
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Features
A tragedy of small decisions
Bob Swarup and Dario Perkins look at the latest developments in the euro-zone crisis and warn that while history doesn’t repeat itself, it does rhyme.
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Features
Britain and Europe
The UK has squandered its fiscal strength relative to the rest of Europe, argues Holger Schmieding – and talk of a ‘Brexit’ will only make things worse
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News
Belgian pension funds return more than 12% on average
BELGIUM – BVPI says schemes investing lion’s share of assets in real economy.
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News
€1.5bn pension fund for dentists to divest one-third of equities
NETHERLANDS – Scale of equity holdings posed ‘considerable risk’ to scheme, study shows.
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News
Sponsor contributions protect Exxon Mobil scheme from investment losses
NETHERLANDS – Scheme also reduces exposure to equities, completes LDI study.
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News
Pension fund for doctors re-allocates bonds to Germany, Netherlands
SPH also maintains cash overweight in equity portfolio to protect coverage ratio of 128%.
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News
SPF slashes equities to protect assets from possible Greek exit
€12bn Dutch railways pension fund temporarily halves equity exposure to 16.6%.
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News
ABP to stick with core strategic investment mix for long haul
€260bn scheme returns 3.3% in 2011, largely as result of 25% hedge of interest risk on liabilities.
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News
UK roundup: State Street, Woolworths, PPF, Capita Hartshead
UK pension schemes return 3% return in 2011 despite turbulent equity markets.
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News
UK pension schemes slash domestic equity exposure by a third – NAPF
Annual survey finds continued reduction in equity exposure, further DB scheme closures.
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Special Report
The shipping news
The shipping business would seem to be directly linked to the health of the world economy. Why would you want to invest as the world slows down? Lynn Strongin Dodds finds that it is not that simple
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Special Report
Turning Japanese?
Technical signals from the bond markets and fundamental economic parallels have spooked some commentators about the ‘Japanisation’ of the world. Anthony Harrington asks if we should be bracing ourselves for the inevitable ‘lost decades’
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Special Report
Too early to tell
It’s clear to everyone that globalisation is re-shaping the world economy. But Maha Khan Phillips asks questions of the consensus around which sectors will benefit
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Special Report
Rich diversity
The bewildering variety of multi-asset funds can make them difficult to compare. But Martin Steward thinks that 2011 has revealed some useful patterns
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Special Report
And what about Japan itself?
Clearly the view a fund manager takes of Japan’s short to medium term macro prospects has a strong determining influence on their view of Japanese equities. Simon Edelsten, senior fund manager of the Artemis Global Select Fund, likes the fact that neither Japan – nor the rest of Asia – has adopted the EU’s penchant for austerity, or seen their banks have to de-lever to the same extent.
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News
Sovereign funds stepped up direct investment in 2010, finds report
Emerging markets increasingly of interest for SWFs but Asia retains 41% of direct investments.
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News
PwC scheme maintains 40% allocation to insurance contract
Officials say unconventional investment has brought stability, decreased volatility.
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Features
How independent is the Old Lady?
Neil Record worries that the Bank of England’s bias towards low rates correlates with a political imperative to inflate away public and financial sector debts. So is monetary policy now controlled by Whitehall, rather than Threadneedle Street?
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News
BVK returns 4.9%, lowers fixed-income duration 'considerably'
Pension fund for Bavaria increases allocation to equities, alternatives to 9%.
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Features
Strategic dynamism
Optimal strategic asset allocation cannot be the same for investors with different levels of wealth at different moments in time, argue Philippe Aurain and Eric Bouyé
