Asset Allocation – Page 21
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NewsAustrian Pensionskassen cut equities, up alternative investments in H1
Austrian Pensionskassen returned -8.78% in the first half of this year, down from 7.63% recorded in 2021
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Veritas manages slim positive return in Q3 despite plunging equities
Finnish pensions insurer thanks alternatives for counteracting listed equities decline in January to September
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Danish pension funds’ global equity losses doubled in Q2
Financial watchdog expects more pension providers to impose withdrawal penalties on guaranteed products, depending on how buffers are faring
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FeaturesIPE Quest Expectations Indicator: monthly commentary
Political risk has decreased. An attack in the north-east of Ukraine took the Russian army by surprise but did not cause collateral damage in Russia. Russians’ resistance to the war is mounting but far from a critical level. It looks like the EU will survive the winter without major energy disruption and caps on energy prices are falling into place.
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Book ReviewBooks: How liquid are liquid assets?
Amin Rajan speaks to Pascal Blanqué about his latest book
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FeaturesAhead of the curve: Clearing up the ‘scaling’ confusion in carbon intensity
Today, a company’s carbon intensity is typically measured in one of two ways – scaling by revenue, or by EVIC (enterprise value including cash). The choice an investor makes can lead to differences in portfolio characteristics.
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FeaturesFixed income, rates & currency: Central banks act tough
This year’s Jackson Hole Symposium, an annual high-level event sponsored by the Reserve Bank of Kansas, yielded relatively little policy news. But the fighting talk from the US Federal Reserve and others was striking. Fed chair Jerome Powell’s speech was markedly more hawkish than expected, while Isabel Schnabel, board member of the European Central Bank, referred to the need for central banks to act ‘forcefully’ because “both the likelihood and the cost of current high inflation becoming entrenched in expectations are uncomfortably high”.
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FeaturesQontigo Riskwatch - October 2022
*Data as of 31 August 2022. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants
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News
AP4 actively seeking companies planning sustainable energy change
Swedish pensions buffer fund explains work with thematic investments focusing on resource-intensive sectors
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NewsDutch pension funds’ private equity investments exceed €100bn
The rise comes as funds’ public equity investments have dropped to a multi-year low of €405bn
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Investment Association members’ AUM reaches £10trn
UK continues to be leading centre for investment management, second only to US internationally
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NewsVBV Vorsorgekasse shifts to defensive strategy in challenging markets
The scheme moved away from risky assets, especially credit and equity, which were gradually reduced
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NewsLucerne proposes funding review of city’s Pensionskasse
Parliament of the city of Lucerne – Grosser Stadtrat – is expected to discuss proposals put forward by the city council on 27 October
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Pension funds ratchet up search for private market alternatives
At the same time new searches for listed equity and bond managers fell to new lows, with the exception of EM
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NewsSwiss Pensionskassen continue to bump up infrastructure investments
More than a quarter of pension funds plan to increase allocations to infrastructure and 69% plan to maintain their current strategic allocation intact
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AP7 sticks with emerging markets overweight despite drag in H1
Swedish national pension fund’s product loses 11.6% between January and June – but still beats private-sector options
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FeaturesQontigo Riskwatch - September 2022
*Data as of 29 July 2022. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants
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Features
IPE Quest Expectations Indicator - September 2022
The war in Ukraine is characterised by a build-up for the battle for Kherson. The result of that campaign is likely to have great political influence on both sides. Neither is capable of a surprise win, but time works against Russia. In the US, Trump’s legal troubles are serious and mounting, but any Republican successor may be even more destructive. The EU is running against time to prepare for winter. Both optimists and pessimists are over-estimating the ability of technicians to predict the future. Russia has lost the EU as a primary customer for its oil and gas. It must make up for higher distribution costs by offering significant discounts.
