Asset Allocation – Page 14
-
NewsBayer Pensionskasse prioritises fixed income high credit rating allocation
Following an ALM study last autumn, the scheme has adjusted its strategic asset allocation
-
NewsAP7 takes first direct private equity step and plans to pick GPs for long term
Per Olofsson, acting CIO, gives IPE the low-down on the Swedish pension fund’s journey into new asset classes
-
NewsGerman doctors’ pension scheme builds up directly-held bond portfolio
The pension fund recorded positive returns of 3.3% last year on assets invested, despite losses in bond and equity markets
-
NewsDanish pension funds recoup seventh of 2022 losses by end of May
Velliv warns it could take up to five years to iron out last year’s pension losses
-
NewsLothian scheme commits to infrastructure with 13.4% allocation
The value of unquoted private equity, infrastructure, timber and secured loan investments at 31 March 2023 stood at £1.7bn
-
NewsGerman church pension fund pivots to private debt in new strategy
The scheme is also reviewing its overlay mandates for equities and currencies
-
Country ReportItaly: Casse di Previdenza roll with the punches
Italian industry-wide pension funds fail to attract new members, with potentially serious long-term consequences
-
FeaturesFixed income, rates & currency: US debt crisis averted – what next?
The US debt ceiling crisis was resolved in June, avoiding potentially major fireworks, with a suspension of the limit until early 2025. This ensures that the next time the politicians have to fight about it will be after the November 2024 presidential election. Although markets were relieved at the temporary resolution, the process of rebuilding the very depleted Treasury cash balances – with some huge bill auctions planned – will drain significant liquidity from the system, which could put pressure on the rates market.
-
FeaturesAhead of the curve: Is growth back or is it a trap?
It is likely you have heard about ‘value traps’. They are low-multiple companies that are priced at an ever expanding discount to the market and structurally underperform as fundamentals weaken due to new competition and, in extreme scenarios, may even face obsolescence.
-
FeaturesIPE Quest Expectations Indicator: July 2023
The war in Ukraine is starting to look like a stalemate. This would be in Russia’s favour. Delivery to Ukraine of more of the tanks promised or fighters to contest Russian air control might lead to a breakthrough, but is unlikely to happen in the summer. In the US, Trump looks like a leading but weak candidate for the Republicans, even against a Democrat as unpopular as Biden. Legal pushbacks against the fight to prevent permanent climate change, notably in Texas, have the potential to cause a trade war with the EU. They illustrate how European and North American values are slowly drifting apart.
-
FeaturesQontigo Riskwatch – July 2023
*Data as of 31 May 2023. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants
-
-
FeaturesIPE Quest Expectations Indicator: August 2023
Politics is on hold until September. Normally, markets do not care and analysts reduce their activity. A political crisis in the Netherlands shows the danger. There are warnings from all sides that climate measures are ever more urgently needed. Markets need a clearer view of which products govern- ments will support with market-shaping measures and when, especially in the face of a faltering pace towards climate goals. Early signs of problems include a lack of capital for innovative start-ups and the increasingly loud voices of climate change deniers.
-
Opinion PiecesViewpoint: UK defined contribution market
Many investors nearing retirement are unable or unwilling to take on the volatility associated with a more aggressive portfolio
-
NewsWPP launches new sustainable global active equity sub-fund
The new sub-fund has launched with £1.2bn, with all eight Welsh Funds participating, and will be managed by Russell Investments.
-
NewsIOSCO calls on regulatory cooperation to allow innovation
‘Globally we do not have a strong model of how to encourage innovation in a highly regulated sector like finance,’ says IOSCO
-
NewsEIOPA says national supervisors need more data on liquidity risks
European pension funds, insurers holding up well despite higher stability risks, says latest risk report from EU pension and insurance watchdog
-
NewsIlmarinen anchors new Amundi climate-focused Europe ETF with €580m
Finnish pensions major edges closer to having all its passive equities tracking MSCI’s Climate Action indices
-
AnalysisAnalysis: German states realign €30bn pension fund assets to stricter ESG standards
Four German states have recently revised their sustainable investment strategies, sticking to stricter ESG rules
-
NewsCompenswiss on path to invest €1bn in private debt
The pension scheme is pursuing a more robust diversification, capturing illiquidity premium, as the bulk of its investments is still invested in fixed income
