All hedging articles
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NewsDutch pension funds cannot reduce risk without limits, says regulator
Many Dutch schemes plan to dial down investment risk to protect their funding ratios in the run-up to the pension transition
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NewsGerman schemes could face further liquidity risks
Substantial rating downgrades of securities held by German investment funds could lead to high outflows
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NewsAfter bruising year, ATP adds new hedging portfolio to boost return
Danish pensions heavyweight was big seller of equities in 2022
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Opinion PiecesViewpoint: ESMA’s latest shot at ‘pre-hedging’ must now bring a clear set of rules
With a direct and significant impact on the prices that pension and other funds receive for the securities they buy and sell, pre-hedging is a key market cleanliness issue with broad implications for the investment industry, but also the end-investor and the public at large. It should not be overlooked this time around for it could become a LIBOR moment for market confidence.
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UK DB schemes may see ‘unexpected financial impacts’ due to high inflation
The impact of inflation on scheme funding will depend on the extent to which schemes have hedged their exposure to inflation
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IPE Conference: Strong sustainability a proxy for good company mgt
Former ATP CIO gives interview on 20th anniversary of massive liability hedging exercise
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Wellcome Trust ‘prospers’ under COVID-19 fallout with 12.3% return
The charity raised cash levels and hedged around 20% of its public equity exposure before the market decline
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Special Report2021 Investment Horizons: Hazy outlook for hedging
Investors must be cautious when navigating today’s cloudy inflation landscape
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Opinion PiecesViewpoint: The tipping point for UK pension schemes
Schemes need to consider how to get to a secure level of funding, but also, the assets they will need to hold when they reach peak cashflows in order to remain fully funded
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NewsMandate roundup: LGPS pool names MAC specialist managers
Plus: Swiss plan tenders out $200-400m emerging market small cap mandate, Record lands $8bn mandate
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Increased credit allocation could improve schemes’ liquidity, says AXA IM
Expect equity to remain volatile with a ’significant risk of a second leg down’
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NewsUK yield movements fuel collateral requests
Pension schemes should understand what liquidity is like
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Regulator: Dutch sector schemes’ interest hedge varies widely
On average the level of interest rate hedge is 43.2%
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Chart of the Week: Hedge fund investors confident despite rocky 2018
Last year was a bad year to be a hedge fund manager, amid weak markets and investor withdrawals totalling $34bn, according to Preqin
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NewsLDI market breaches £1trn as smaller schemes join hedging trend
XPS Investment attributes most of 2018 growth to new mandates, mainly from smaller schemes
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NewsLCP: Dutch schemes urged to improve performance reporting
Schemes need to make a clearer distinction between performance gross and net of fees and costs, consultancy argues
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ATP’s geared portfolio dives 9% in last quarter of 2018
Leverage reaches 334% by year end for Danish fund’s investment segment
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Investors ‘must research equity overlays’ as demand soars: Bfinance
Asset owners began shift to explicit equity protection in 2018, but consultancy warns of complications
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Pension funds ‘should begin derivatives clearing now’ to save costs
Looming EMIR rulebook could ramp financing costs up by 10 times current level, according to OpenGamma
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ATP shifts €2.7bn to hedging portfolio after longevity data change
Removing US data lengthens projected lifespans at Danish pensions heavyweight
