All Equities articles – Page 13
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Asset Class ReportsPortfolio strategy – Equities
Our report shines a light on investors’ thought processes when it comes to choosing active, passive or a combination of the two. We surveyed CIOs and senior portfolio managers to get an insight into how they construct their equity portfolios. Our report also features an investigation into the fall in listings on the UK equity market, at a time when listing domicile is increasingly consequential aspect of portfolio construction.
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Asset Class ReportsEquities – Does location matter in the corporate listings debate?
The number of listed companies have fallen dramatically, but London remains a preferred global financial centre
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Special ReportOutlook – Europe and the world: CIOs focus on bonds and quality stocks
With the prospect of weaker growth, volatility and higher inflation and rates, strategists argue for more selectivity in investments
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Opinion PiecesDo not blame institutions for taking risks
Alecta, the SEK1.19trn (€105bn) institution that manages the Swedish ITP private-sector pension scheme, is being probed by Swedish regulators for the €1.9bn capital loss it experienced earlier this year, as the three US regional banks it invested in – Silicon Valley Bank, Signature Bank and First Republic Bank – collapsed. The institution reacted by firing its influential CEO Magnus Billing.
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Opinion PiecesBetter the equity market devil you know?
Being a large equity investor in a relatively small domestic market can have advantages as well as drawbacks. Proximity to the market and its infrastructure, good knowledge of corporates and corporate leaders, and the ability to exercise strong influence as an owner, potentially a stable long-term one, all count among the advantages. The need to avoid concentration – in terms of position, sizing and overall allocations – and idiosyncratic sector exposure are among the challenges.
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FeaturesIPE Quest Expectations Indicator: June 2023
Continued loud bickering between the Wagner Group and the Russian army is protecting Putin from both, worsening the outlook for peace, while there are multiple signs that military supplies are approaching exhaustion. The coalition supporting Ukraine is stronger than ever, showing increasing willingness to provide military aircraft. Yet the offensive expected in February has not started. In the US, Florida governor Ron DeSantis is damaging his position with an unproductive row with Disney, while Trump has moved closer to a prison term. Gas consumption in the EU is falling faster than expected, due to efficiencies like heat pumps, changeover to electricity and solar panels. Macron scored nicely by sponsoring the participation of Zelensky at the Hiroshima G7; Sunak failed to centre political attention on China.
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NewsAP7 hands LGIM large active climate-transition equities mandate
Swedish pensions giant says new partnership is first time it has combined a focus on firms able to transition with active ownership
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NewsATP’s CIO bemoans weak due diligence behind IPO prospectuses
‘Crucial that everyone plays by the same rules,’ say Svenstrup and Krüger Andersen
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NewsSwedish Fund Selection Agency unveils draft fund agreement
Plus: Swiss occupational scheme issues CHF300m mandate; Pension fund in Central Europe seeks infrastructure manager
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NewsInarcassa increases investments in Italian private banks to €200m
For 2023 the pension fund plans to increase investments in private markets and real estate
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NewsSweden’s premium pension tenders to kick off with European large-cap equity
Fund Selection Agency announces asset category of first tender, says deadline will be end of August
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NewsAMF lags Alecta in Q1 returns, but lauds ‘well-diversified’ portfolio
Swedish blue-collar pensions firm made 2.9% January-March return in January
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FeaturesFixed income, rates & currency: Chill winds prompt caution
Although 2022 was a remarkably bad year for bonds and equities, any hopes that 2023 might illuminate a brighter path have already been dispelled as rapidly changing narratives – from recession to boom to fears of a banking crisis – all tossed and turned stock and rates markets. The result was a remarkably turbulent first quarter.
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Country ReportUK: Can the country turn a flawed investment ecosytem around?
Decades of complex legislation has fuelled many unanticipated consequences, which has seen pension funds invest less in riskier listed equities and illiquid assets
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FeaturesIPE Quest Expectations Indicator May 2023
Russian air superiority over Ukraine is coming to an end due to lack of equipment. Destroying civilian targets is counterproductive and consumes ammunition. Bakhmut is eating into Russian resources, while Ukraine is being re-armed. History teaches that better technology, rather than numerical superiority, wins wars. But even a lopsided Ukrainian win would not automatically mean peace.
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FeaturesAhead of the curve: What happened to equity volatility in 2022 and what next?
Something strange happened last year. Expectations about the future level of volatility in US equities – implied volatility – behaved in a very unusual way. In a falling market, the price of implied volatility normally rises because equity falls are associated with a worsening macroeconomic outlook, implying more market risk. Expectations of future volatility therefore increase.
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NewsAP4 slashes transport holdings after green-shift fundamental analysis
Swedish state pension fund divests airlines, shipping, and traditional lorries while buying into US rail and niche players in truck freight
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NewsSwiss APK switches emerging market equities benchmark to MSCI Low Carbon Index
The management board has expanded the scheme’s climate strategy
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NewsIlmarinen anchors biggest ETF launch yet
Finnish pensions giant prompts creation of tracker fund based on new MSCI climate index – switching €1.86bn into new ETF
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NewsNorwegian government moves towards adding unlisted equity to SWF
Annual white paper on SWF includes call for more analysis from NBIM on unlisted shares
