Latest from IPE Magazine – Page 226
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Country Report
Second Pillar: Technical difficulties
Despite the challenges facing Switzerland’s second-pillar pension the necessary overhaul of the system is still a long way off, says Barbara Ottawa
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Country Report
France's first-pillar pensions: Embracing the last resort
Agirc, the second-pillar pension scheme for private sector executives is planning to merge with the employees’ scheme, Arrco
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Special Report
MENA holds sway
Middle East and North Africa countries will continue to rule in the oil market, although budget deficits are a growing threat, according to Cyril Widdershoven
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Special Report
Investor case study: Fonditel
Fonditel is a curio in the Spanish savings market. With almost €3bn under management it is by far the largest funded company pension arrangement, for sponsor and owner Telefonica
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Country Report
Asset Allocation: Start of a new era
INDEFI Market Research’s latest annual research on the French institutional market confirms the emergence of key trends for European asset management
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Special Report
Iran: Tomorrow’s energy superpower
Relief from UN sanctions unlocks few energy-related investment opportunities in Iran, but the long-term potential is significant
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Special Report
Understanding factor investing
Interest in factor investing is increasing. According to Morningstar data, over 60 smart beta-related ETFs were launched in 2015 in Europe, almost double the number launched in 2014
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Book Review
Book Review: An energy supply for life
Joseph Mariathasan reviews Wade Allison’s Nuclear is for Life: A Cultural Revolution
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Special Report
Advanced engineering
Factor investing has powered the growth of generic smart beta strategies underlying the broad ETF market. But it is entering a new phase of development that is seeing institutional investors move from studying the approach to adopting tailored versions
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Special Report
Technology: Positive chemistry
Christopher O’Dea reports on how technology is transforming the energy sector
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Special Report
Smart beta strategy evaluation and due diligence
Factor investing seeks to identify and capture broad, persistent drivers of return. It is the formalisation of, for example, the idea of seeking inexpensive companies (value investing) or high quality balance sheets (quality investing) – intuitive investment styles that have long been part of the active management toolkit
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Features
From Our Perspective: France rallies to the cause
Opposition to funded pensions has long been popular in France. Trade unions suspect that they will act as a Trojan horse for Anglo-Saxon capitalism and social welfare policy, which would undermine the country’s solidarity-based pension system. Politicians shy away from using terms like ‘pension funds’.
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Features
Infrastructure: A benchmark for rebuilding trust
Pension investors’ interest in infrastructure assets has been rising in recent years, with more than half of those surveyed by Preqin for its most recent investor outlook, saying they would increase exposure to the asset class in future.
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Features
British Steel Pension Scheme: Steeling for a battle over pensions
As the UK faces the prospect of its steel industry winding down, attention has focused not only on the possibility of a temporary nationalisation of some of the assets owned by Tata Steel but also on the fate of the British Steel Pension Scheme
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Book Review
Book Review: The Future of Pension Management
Where others might lose themselves in a discussion on organisational design, regulation or social policy, Keith Ambachtsheer’s book wastes no time in placing pension funds at the heart of capitalism
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Opinion Pieces
Long-Term Matters: Hug a whistle-blower
Ask any board director or chief executive of a well-run company what they worry about most and the answer is invariably ‘what I don’t know is happening’
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Interviews
On the Record: How have you broadened your bond exposure?
Three investors - Ilmarinen, MN and SEB Pension - share details about their fixed income allocations
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Features
Accounting: Lease liabilities are real liabilities
Stephen Bouvier explores the implications for pension liabilities of the IASB’s new leasing standard
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Features
Canada’s model evolves
Pension funds have tripled in size since 2003, largely thanks to investment returns. Joel Kranc examines the Canadian model
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FeaturesHow we run our money: Solidarietà Veneto
Paolo Stefan, director of Solidarietà Veneto, tells Carlo Svaluto Moreolo about the Italian fund’s regionally-focused investment strategy