Asset Allocation – Page 128
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News
German institutions willing to increase risk but feel hindered, survey shows
Respondents believe they could improve returns by 100bps with fewer restrictions, Union says
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News
Norway to review active management at Government Pension Fund Global
Expert panel to review Norges Bank Investment Management’s historical performance
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FeaturesBe smart with smart beta
Stefan Dunatov emphasises the importance of consistency between strategy, investment beliefs and implementation when exploiting techniques like smart beta
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News
Finland's VER sees fixed income exposure fall as returns decline year on year
FINLAND – Returns at State Pension Fund fall over 4 percentage points year-on-year.
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News
Dutch grocery industry fund to raise European small cap allocation
NETHERLANDS – Levensmiddelen reports double-digit returns for 2012, outperforming benchmark.
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Features
Is history quietly repeating itself?
With the system already as heavily leveraged as it was in 2007, markets are hanging on every word from Ben Bernanke. Dan James thinks this only adds to the feeling of déjà vu
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Features
The fallacy of CB independence
Central banks are no longer independent of politics, argues Kommer van Trigt, and investors should take that into account
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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
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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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
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
