Latest from IPE Magazine – Page 232
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Features
Sector underwhelmed by stress-test results
The first-ever sector-wide stress test of European occupational pension funds by the European Insurance and Occupational Pensions Authority (EIOPA) concludes that they are most unlikely to transmit financial shocks to other market participants, even though these would entail significant deficits.
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Features
IORP II inches ahead
The revised IORP Directive is one step closer to fruition, after MEPs agreed on a final draft of the law.
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Features
2015 Returns: Strong ATP performance bucks the downward trend in returns
Investment returns at many European pension funds came crashing down in 2015 compared with the previous year. Denmark’s ATP was the only exception, posting a 17.2% return.
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Features
ATP: New risk-factor construction makes investment portfolio more flexible
Denmark’s DKK705bn (€94bn) statutory pension fund ATP says its new risk-factor-based investment portfolio approach, unveiled in its 2015 annual report, increases its investment flexibility and provides it with a better understanding of risk.
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Opinion Pieces
Long-Term Matters: Value corrosion
Imagine ISIS had poisoned a US city, causing almost certain permanent damage to innocent infants and children. Can you imagine the likely domestic and international repercussions?
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Features
Interview: Gabriel Bernardino, EIOPA
EIOPA chairman Gabriel Bernardino explains why the recent stress tests of European occupational pension funds were a valuable exercise
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Features
Research: The rise of private debt
Asset classes once considered too esoteric can be seen as safe havens when the market environment changes, argues Amin Rajan
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Interviews
On the Record: How do you optimise asset management costs?
Three pension funds - FONSEA, Pensions Caixa 30 and Sampension - discuss asset management costs
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Features
Briefing: Form Filling
Technical breaches of rules on company dividend payments raise corporate governance issues for investors, finds Stephen Bouvier
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Features
Regulation Roundup: Pension developments in Europe
IPE’s overview of regulatory and legislative changes in the pensions landscape in key European countries
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Country ReportPensions In Belgium: Limited by size constraints
Belgian pension funds are well funded, but their small size restricts their opportunities to diversify, according to Gail Moss
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Country Report
Asset Allocation: Seeking greater risk
Some Dutch pension funds are increasing their risk proile this year, according to Daniel Ben-Ami
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Features
Capital Flows: Capital flees emerging markets
Capital flight from emerging economies is an important part of the story of global stockmarket volatility and plummeting bond yields
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Features
Asset Management Fees: What’s the going rate?
Despite calls for a greater level of alignment between asset managers and pension funds, alternative fee models have not yet taken off
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Features
Asset Allocation & Risk: The (im)patience of capital
Our two most valuable tools – our brains and time – should be harnessed to counter the potentially devastating consequences of our behavioural biases, says Bob Swarup
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FeaturesESG: The taxing issue of tax
As Google, Amazon and other multinationals face scrutiny over their tax affairs, we assess the case for asset owners to engage on the issue
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Interviews
Strategically speaking: SCOR Investment Partners
It took François de Varenne, CEO of SCOR Global Investments and SCOR Investment Partners, two years to convince the group to hold insurance risk on its own balance sheet
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Features
Asset Allocation: The big picture
While no experienced investor would presume plain sailing in markets, the nervous and chaotic start to this year has been pretty remarkable and difficult to navigate safely.
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Features
Ahead of the Curve: MiFID II starts to bite
Mark Croxon looks at the impact the new EU directive is likely to have on the workflow of investment firms
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Features
Focus Group: Different approaches to fees
Less than half of those polled for this month’s Focus Group (13 respondents, compared with 22 in the June 2014 survey) are in favour of asset management performance fees.
