All Briefing articles – Page 17
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Features
Race for solutions picks up pace
Incumbent managers have a natural advantage with mature pension funds in the provision of solution-type services, finds Pádraig Floyd
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Asset Class Reports
Dangerous liquidity
Following another summer of high-yield bond market volatility, Emma Cusworth asks whether ETFs are to blame for credit markets getting riskier
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Features
Teenage years
Fiona Reynolds faced a protest storm soon after coming on board at PRI as executive director. Jonathan Williams caught up with her 18 months into her job
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Features
Risk-sharing professionals
Gail Moss compares how self-employed professionals are served by specialist collective DC pension funds in three European countries
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Features
Burying IFRS Stateside
For more than a decade, international accountants have dreamed of a single set of global accounting standards. But the failure of standard setters on both sides of the Atlantic to agree on a common treatment for bad-debt provisioning by banks leaves the world facing a multi-GAAP environment for at least a generation, writes Stephen Bouvier
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Features
Time to come together
M&A activity is expected to increase as the global economy recovers. Gail Moss looks at the implications for pension funds that sponsors and trustees should consider
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Features
Smaller firms, better mousetraps
While innovation can take place in companies of any size, smaller companies sometimes get the edge through fresh thinking and nimble structures. Christopher O’Dea finds that innovation opportunities are abundant both abroad and at home
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Features
What are the benefits?
The European Commission unveiled its proposals for a uniform pension benefit statement this spring. The idea has had a mixed reception, as Gail Moss finds
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Features
Geology doesn’t end at the border
Europe sits atop abundant shale energy reserves and Moscow’s annexation of Crimea has catalysed interest in unlocking it to reduce dependence on Russian gas. Tapping those reserves will be a long-term investment proposition, says Christopher O’Dea
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Features
Bond platform rivalry heats up
Pension funds and other institutional investors are searching for alternative ways to find liquidity in fixed income. Bond platforms are vying for the job, writes Maha Khan Phillips
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Features
Viva Aviva? Well, maybe
Gail Moss looks in detail at Aviva Staff Pension Scheme’s £5bn longevity risk transfer which, although still part of a relatively small club, could open the door to similar deals
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Features
Long tech, short toil
Bob Swarup likens today’s environment with the second industrial revolution and the six-year depression it unleashed, and advises investors to get on the right side of the current technological revolution
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Features
Two sides to private equity
A recent NBER working paper suggested that private equity delivered absolutely no risk-and-cost-adjusted return beyond what is available in public markets. Anthony Harrington takes a closer look at this surprising finding
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Features
Banking on emerging markets
Financial services may be a less stretched way to get exposure to the emerging consumer, writes David Turner. But will stockpicking shield investors from these markets’ credit crunches?
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Features
Sky-high yield
Paul Read acknowledges that further capital appreciation in high yield is unlikely, and argues that good bottom-up analysis is now crucial for capital preservation and decent returns
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Features
Time to pool resources
Leen Preesman asks the CEOs of PGGM and PKA about their co-operation plans and about the development of supplementary pensions in Europe
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Features
Public sector challenges
Gail Moss speaks to Eva Kiwit of EAPSPI, the voice of public pensions at European level
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Features
Risk management under the AIFMD
Kai Braun and Désirée Springmann describe the major changes ahead for private equity and real estate fund managers
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Features
Mixed evidence on financialisation
Lorenzo Naranjo and Carmen Stefanescu note that commodity futures volatility has been rising since the era of ‘financialisation’ – but also that the correlation with equity market volatility long pre-dates this period
