Latest from IPE Magazine – Page 125
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InterviewsStrategically speaking: QMA
QMA’s CEO Andrew Dyson explains why current market dislocations arguably represent the biggest investment opportunities of the last decade – if not of the last 25 years – for value investors
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FeaturesPerspective: Carlo Cottarelli
Carlo Cottarelli, the Italian economist and former IMF director, says fixing the European economy will mean taking difficult decisions
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Opinion PiecesGDP numbers spread fake news
GDP is a measure of economic activity rather than wealth creation. As such, it can give misleading signals about the health of an economy
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FeaturesAccounting Matters: Inflation measurement dilemma
If there is one issue that has seized the attention of defined benefit (DB) sponsors this reporting season, it is whether inflation should be measured using the consumer prices index (CPI) or the retail prices index (RPI). And Lane Clark & Peacock (LCP) partner Alex Waite is clear why: “There is a formula [for RPI] and the formula is wrong. It is like having an error in a spreadsheet,” he says.
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Opinion PiecesLetter From US: Concerns over common ownership unabated
No matter who wins the presidential election this November the issue of concentration of US corporate ownership by the Big Three money managers – BlackRock, Vanguard and SSGA – will not go away
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AnalysisResearch: Back to basics will drive asset allocation
In the final article on a new report, Pascal Blanqué and Amin Rajan conclude that liquidity management has become vital as quantitative easing reaches a point of diminishing returns
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Opinion PiecesGuest Viewpoint: Fabrice Demarigny, Joachim Nagel & Corien Wortmann-Kool
“A reboot of the CMU has moved up the European policy agenda”
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FeaturesDutch hedging strategies: Dynamic approaches in favour
Levels of interest rate hedging cover used by Dutch industry-wide pension funds vary widely, according to figures published late last year by pensions supervisor De Nederlandsche Bank (DNB).
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FeaturesPensions depositaries: IORP II’s new consolidation option
European pensions legislation raises the possibility of a new kind of consolidation vehicle that could also accommodate large Dutch mandatory industry-wide pension funds
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FeaturesHow to improve EIOPA’s stress test
EIOPA’s 2019 stress tests already included substantial improvements, but the cash flow analysis could be improved further
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FeaturesAsset management faces systemic risk questions
When will the next financial crisis hit? Over 80% of respondents among a sample of 500 institutional investors surveyed by Natixis Investment Managers expect a crisis to take place within the next five years.
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FeaturesWhen safe haven assets aren’t safe
In the current environment, investors look set to lose money on European government bonds – a quintessential safe-haven asset
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FeaturesFixed income, rates, currencies: Better than expected
Although packed with geopolitical surprises 2019 turned out to be better than expected for financial assets. Equities and bonds rallied together reversing last year’s ‘unusual occurrence’ of both performing badly.
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FeaturesAhead of the Curve: Measuring the right thing
The old adage, ‘measure twice, cut once,’ only works if you measure the right thing. The prominence of GDP growth as the ultimate gauge of economic performance, for example, is increasingly a case of measuring the wrong thing. A single metric cannot hope to capture all the complex trends that develop below the surface of a modern knowledge and services-based economy.
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FeaturesIPE Quest Expectations Indicator: January 2020
Bond sentiment remains stable, but still negative. US net bond sentiment is edging towards zero, which is surprising as the Fed is set on neutral.
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Opinion PiecesCan we all be Canadian?
As we approach the 2020s, what have we learned about pension investing in the last 20 years?
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Special Report2020 Investment Horizons: Emerging markets face contagion
The protracted period of ultra-low interest rates in the developed world could have a nasty knock-on effect on emerging market debt
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Asset Class ReportsPrivate Equity: Finding the right metric
It is hard to compare the performance of private equity investments
