Latest from IPE Magazine – Page 232
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Special Report
In search of the sweet spot
Low interest rates have been painful for unhedged DB pension funds. In the UK, where the first policy rate rises are expected next year, long-term yields could flatten further and magnify liabilities. Decisions about hedging ratios remain paramount, as Charlotte Moore finds
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Features
Prudence penalty
As we mark seven years since the bankruptcy of Lehman Brothers this month, the blunt instrument of regulation still hangs over pension funds with respect to European derivatives trading
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Country Report
Pensions in the UK: A 10-year scorecard
The advent of The Pensions Regulator and the Pension Protection Fund in 2005 changed the UK occupational pensions sector for good. But have they changed it for the better?
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Country Report
Pensions in The Netherlands: A continuing soap opera
Now that attempts to radically overhaul the Dutch pension system have floundered owing to legal problems, union opposition and politics, efforts to future-proof the second pension pillar have favoured evolution over revolution
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Special Report
Securities Services: Tougher times for providers
Securities services providers are having to raise their game in response to demands of clients who face both increasing regulatory pressures and a low-yield environment
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Features
Smart beta bonds: Not so fast
Carlo Svaluto Moreolo looks at the reasons behind the dearth of smart beta fixed-income products
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Features
Asset Allocation: The big picture
The plunge in China’s stock market in July was dramatic. There is still debate about how worried global investors ought to be
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Special ReportTop 1000: Europe's slimmer regulatory agenda
The Juncker Commission is targeting the Capital Markets Union and a legislative agenda that focuses on engaging long-term capital
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Asset Class Reports
Holistic approaches to EM debt exposure
Asset allocation is key to successful investment in emerging markets. But the real task is working out how best to invest among the wide range of assets and strategies available
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Features
China’s importance still underplayed
The turmoil in China is both less serious and more serious than generally assumed.
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Country Report
UK Pensions Governance: The head and the heart
Trustees are at the heart of UK pension funds. Do they need to get better at what they do?
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Country Report
Ultimate Forward Rate: Ultimate consideration
Formerly just an esoteric formula buried in Solvency II legislation, the DNB’s recent reduction in the ultimate forward rate will affect the viability of Dutch defined benefit pension schemes
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Special Report
Beyond Excel spreadsheets
Pension funds are increasingly turning to custodians for help in dealing with the complexities of investing in illiquid alternatives asset classes
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Features
Ahead of the Curve: Japan’s best is yet to come
A genuine change in corporate governance culture at Japanese companies will underpin good economic fundamentals
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Special ReportAustria: Occupational pensions under pressure
Celebrating its 25th anniversary, the Austrian pensions sector faces few new regulatory challenges and the rise of a young competitor
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Features
Briefing: Growing importance of the renminbi
Despite recent volatility, the Chinese currency’s role in international trade is growing fast
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Asset Class Reports
Outlook: The case for EM debt
Opinions vary on the long-term prospects for emerging market debt
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Features
Smart questions
There are plenty of interesting questions surrounding smart beta investment in an institutional context. First, does it work? Apparently it does, as academics find more and more evidence that it pays to have passive exposure to factors such as value, low volatility and small-caps.
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Country Report
Derisking: Unintended risks
Carlo Svaluto Moreolo asks whether UK trustees are taking the right approach to interest rate and inflation risk
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Country Report
Commentary: Returning market sense to UFR
The new UFR is an uneasy compromise that requires sophisticated decision-making on the part of pension funds, argues Jens van Egmond
