Latest from IPE Magazine – Page 229
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Special ReportSilver: Small Pension Fund 2015 - Frjalsi Pension Fund
Judge’s comment: “Displaying innovation and forward thinking, the opportunities taken have resulted in strong returns, carefully managed risk and a happy clientele.”
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Features
High-Yield Bonds: Uncharted waters
Is the sell-off in high-yield bonds an indicator of broader weakness, or an opportunity for contrarians to pick up yield?
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Features
Assessing AIFMD
Kai Braun considers the Alternative Investment Fund Managers Directive (AIFMD) and finds that operating models have stabilised
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Special ReportSilver: Sovereign Reserve Fund 2015 - FRR and NLB Penziski Fond
Judge’s comment: “These two funds may be poles apart in terms of size and remit, but both make excellent use of the respective resources at their disposal.”
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Features
Asset Allocation: The big picture
The US Federal Reserve’s decision in September not to hike rates, along with its comments about soft inflation trends and global developments, surprised the markets with its dovishness. However, although rates fell across the curve and the dollar weakened, equities and other risk assets have not taken much solace from these easier financial conditions.
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Features
Ahead of the Curve: ASEAN - the next emerging economy?
Andrew Graham asks whether the ambitious integration plan of the Association of Southeast Asian Nations will unlock the region’s potential, or whether the complexity of the task will overwhelm any chance of success
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Features
Focus Group: General belief in FX hedging
Three-quarters of the investors surveyed for this month’s Focus Group hedge some of their foreign exchange (FX) risk, while just one fund hedges it all. This is a similar proportion to when investors were last polled in April 2013 (81% in 2015 compared with 78% in 2013).
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Features
Diary of an Investor: Independent spirit
My friends at BIG Asset Management are here for one of their regular client visits. At Wasserdicht we don’t do lunches and the format is the traditional Dutch one, with rolls and buttermilk.
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Special ReportSilver: Active Management 2015 - PenSam
Judge’s comment: “An impressive, well-considered approach and response to a changed environment that is not reliant on consultants.”
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Special ReportGold: Long-Term Strategy 2015 - Trafalgar House Pension Trust
Judge’s comment: “A strong focus on liabilities, a dynamic investment process and impressively high returns, given its low risk budget.”
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Special ReportGold: Outstanding Industry Contribution 2015 - Theo Kocken, Cardano
Judge’s comment: “A truly innovative approach to communication and an enrichment to the industry. One of the strongest contributors to the pensions sector with his depth, profile and innovation over the years.”
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Special ReportGold: Best European Pension Fund - British Steel Pension Fund
Judge’s comment: “How British Steel manages to improve from year to year is baffling and beyond me. But it does and this is a seriously impressive organisation. With its pioneering LDI and notable cost controls framework, this is the scheme others should follow. A clear winner this year.”
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Special ReportBronze: Fixed Income - Bosch Pensionsfonds
Judge’s comment: “Innovative fixed income strategy given the fund’s objectives and the market it operates in, with a good level of diversification.”
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Special ReportGold: Pension Fund Achievement of the Year - Helen Kobæk, PenSam
Judge’s comment: “This is what I call an achievement. It shows the CEO’s willingness to look beyond her fiduciary duty. The sense of social responsibility PenSam has assumed should serve as a role model for the industry.”
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Features
Finland: Funds defend investment stance
Finnish pension funds Valtion Eläkerahasto (VER) and Ilmarinen have defended their levels of investment in the local economy in the face of concerns that Finnish institutions are becoming less able to invest in domestic equities.
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Interviews
Strategically speaking: Principal Global Investors - A glimpse into the future
At least no-one dies as a result of what the investment management industry does or does not do. Unlike technological companies considering drone pizza deliveries or driverless cars, and where real issues of safety and liability may arise, asset management executives only have a set of financial outcomes to consider.
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Features
Demographics: Global Growth - Doldrums ahead
Niels Jensen argues that an ageing population and lower productivity are the biggest threats to global economic growth
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Asset Class ReportsGlobal Equities: Ecology of a mega-cap
China has leapfrogged Japan into second place after the US on the global mega-companies list. We explore attributes that help companies develop into giants
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Special Report
Fixed Income Challenges: These peculiar times
One of the classic mistakes people make while driving is to fail to look far enough ahead. It is all too common for drivers to fixate on what is just in front of them rather than scanning further in the distance
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Features
Pulled in two directions
It is understandable that politicians covet institutional capital to help finance future economic growth
