Latest from IPE Magazine – Page 228
-
Features
Greece’s Private Sector: Hope lies in SMEs
Is the EU a community of states or just a trade organisation structured to stimulate demand in favour of the stronger economies? That existential question can provoke much discussion, but the relationship between the EU and Greece in the years ahead may provide the real answer.
-
Opinion Pieces
Letter from Brussels: Focus on low returns
Dismally low returns on EU pension fund investments over 15 years? The allegation comes in a study by Better Finance, the European Federation of Investors & Financial Services Users. The report, Pensions Savings: The Real Return, points to excessive fees, points to other charges, and badly framed taxation rules, as the culprits.
-
Opinion Pieces
Letter from the US: Lower expectations
Most US state retirement systems are cutting their investment return predictions. But this is still not enough, according to critics, and a minority of public pension funds are retaining optimistic assumptions and aggressive strategies.
-
Features
Pensions Accounting: Sometime, never… maybe?
On 31 July, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) addressing three aspects of pension-plan accounting.
-
Features
The perils and promise of financial repression
In this first article in a series on a new survey, Pascal Blanqué and Amin Rajan argue that quantitative easing leaves pension plans at the wrong end of an arbitrary redistribution of wealth
-
Special ReportInfrastructure 2015 - PensionDanmark
Judge’s comment: “Good international as well as reasonable sector diversification, albeit focused on renewable energy, with evidence of being a first mover.”
-
Special Report
Risk Management 2015 - Superannuation Arrangements of the University of London (SAUL)
Judge’s comment: “Very strong performance that reflects the clear innovation involved in SAUL’s solid pensions risk management framework.”
-
Special ReportSmart Beta 2015 - SEB Pension
Judge’s comment: “Incredibly impressive smart beta programme built on a solid theoretical foundation, while its implementation is cutting edge with outstanding results.”
-
Special ReportSpecialist Investment Managers 2015 - PenSam
Judge’s comment: “Other schemes might identify the return source, fail to find a manager and give up. Not these guys. To set up their own programme is very innovative.”
-
Opinion Pieces
Guest Viewpoint: Mark Fawcett - National Employment Savings Trust (UK)
It is early days for the UK’s new pension regime under which DC savers no longer have to buy an annuity. However, there are already lessons to be learned from the reforms.
-
Interviews
On the Record: Do you invest in clean energy infrastructure?
We ask three pension funds - AP3, Kommunal Landspensjonskasse and Strathclyde Pension Fund - about their exposure to clean energy investments.
-
Features
Pensionsfonds: Still ironing out the kinks
The industry has welcomed a new proposal that could give German Pensionsfonds more flexibility, but some are disappointed it is not part of a broader reform.
-
Features
German Discount Rates: Biases in pension discounting
In common with many countries, falling interest rates have hit German companies and pension funds significantly by increasing their discounted liabilities.
-
FeaturesHow we run our money: Nobel Foundation
Gustav Karner, CIO of the Nobel Foundation, explains how the eponymous awards are funded
-
Special ReportBronze: Alternatives 2015 - Merchant Navy Officers' Pension Fund
Judge’s comment: “An interesting starting point, working on an improved governance structure prior to entering into a new and more complex alternatives strategy.”
-
Special ReportBronze: Equities 2015 - SEB Pension
Judge’s comment: “Rigorous approach to decomposing equity return factors based on well-established theory and sophisticated use of derivatives provides a cost-effective solution.”
-
Special ReportSilver: Passive Management 2015 - West Midlands Pension Fund
Judge’s comment: “A no-nonsense fund with solid performance, making full use of solid investment tools and best-practice methods combined with low costs.”
-
Special Report
Silver: Corporate Pension Fund 2015 - Santander UK Group Pension Scheme Common Fund
Judge’s comment: “A well-rounded submission that ticks a lot of boxes, with lots of innovation and detail. Santander focuses on developing a reputation for attracting good investment.”
-
Special ReportSilver: Public Pension Fund 2015 - The Church Commissioners
Judge’s comment: “An excellent entry highlighting excellence, innovation, diversification and commitment, while its excellent long-term record also deserves a mention.”
-
Special ReportSilver: Industry-Wide Pension Fund 2015 - Pension Protection Fund
Judge’s comment: “Continues to impress with its funding strategy and investment model. Expansion of the portfolio to include hybrids should help it maintain its risk-adjusted return objectives.”
