All Briefing articles – Page 19
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Features
Stuck in the middle
The mezzanine-debt opportunity has not gone away. But Martin Steward finds that success will probably depend on both greater focus and flexibility
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Once upon a time in the East
It may not quite be cowboy capitalism, but a showdown is due in China, writes Gary Greenberg
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Quest for the ‘golden’ discount rate
We cannot foresee the long-term future, however much we would like to think we can, argues Alf Gohdes
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Choosing the middle way
René Biner offers a 21-year data set that reveals surprising facts about historical loss rates in European mezzanine debt – and the advantages of vintage-year diversification
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Leave nothing to chance
The advent of auto-enrolment in the UK has heightened focus on the need for robust risk management systems for DC plans. Gail Moss looks at a range of approaches
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Taking risk budgeting a step further
An analytical framework at the fund selection stage can help spare DC fund participants the pitfalls of a more advanced approach to diversification, writes Thierry Roncalli
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FeaturesRussian pensions are booming
Reform of Russia’s supplementary pension system is having a strong and positive impact, while further regulatory changes are on the cards for 2013, writes Alexander Lorenz
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Features
A few words of advice…
As the International Accounting Standards Board and the International Financial Reporting Standards Interpretations Committee continue to deliberate the discount-rate objective in IAS 19, Stephen Bouvier invited Falco Valkenburg, one of Europe’s leading consultant actuaries to set out the challenges facing the standard setters
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Features
A tale of two jurisdictions
Expatriate pensions are still an offshore game, and Luxembourg and Liechtenstein are vying for supremacy, writes Gail Moss
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Features
It’s a war out there
Anthony Harrington finds optimism among active currency managers, and that a top-down discretionary approach might be best-suited to surviving and thriving through the ‘currency wars’
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Features
The EM lending gap
Bank lending to emerging markets is falling sharply – but David Creighton writes that the growth in bond issuance isn’t filling the lending gap
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Features
Developments in Dutch pooling
Recent bilateral agreements and regulatory developments are making the Netherlands more attractive as a jurisdiction for asset pooling, according to Wilfried Mulder and Mischa Muntinga
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Features
The business of uncertainty
Lynn Strongin Dodds takes a look at a sector beset by uncertainty over regulations, profitability and dividends
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Features
Yielding results
Ultra-low bond yields and high dividend yields suggest low-risk investors should consider equity income funds. Joseph Mariathasan looks at the options
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Features
Regulating Europe
Gail Moss reviews pension regulation and law changes under discussion in seven European countries
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Features
Banks back in favour
Fund managers are overweight banking stocks for the first time since 2007. But Maha Khan Phillips finds that not everyone is convinced that now is the time to buy
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Features
AIFMD: the rush to regulate
With its mid-year implementation deadline looming, Giuseppe Rumi and Giorgio Tosetti update us on the state of play for the Alternative Investment Fund Managers Directive
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Features
The middle way
Gail Moss outlines how public sector pension entities can get the best out of the procurement process
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FeaturesThe correlation myth
Patrick Burke d’Orey argues that factor analysis shows that correlations are not at all-time highs – and that even in 2008 there was wide dispersion in pair-wise factor correlations
