Latest from IPE Magazine – Page 250
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Special Report
Focus Group: Pension funds get smart
The days of smart beta being all talk and no action in the pensions world are long gone
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Asset Class Reports
European equities: Recovery or retrenchment?
Martin Steward finds European equity managers disagreeing on how to position for the business cycle
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Special Report
Room for smaller players in UK's 'oligopolistic' pension consulting market
Martin Steward finds that the age of true dominance of the UK’s ‘big three’ consultants may have passed, creating opportunity for smaller providers
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Features
Research - Pension Funds: The progression of smart risking
In this final article on a new survey, Pierre Cailleteau and Amin Rajan conclude that improved risk management is the most enduring legacy of the global financial crisis
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Features
Swiss Accounting Standards: Swimming against the tide
Some Swiss sponsors have ditched international standards in favour of local GAAP
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Country Report
PFPP survey: Dutch pension funds' high expectations
Dutch pension funds are more critical of their asset managers than their European peers, according to a major research programme. James Tew assesses the results.
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Features
ESG - Human Capital Management: Human, all too human
Non-financial risks generally centre on sustainability and governance. Now investors are looking closely at human capital management (HCM), according to Jonathan Williams
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Special Report
Tactical asset allocation: When diversification is a better bet than timing
Practical difficulties of tactical asset allocation confirm the case for buying, holding and diversifying
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Country Report
Carrot and stick: Asset allocation under new FTK rules
New FTK rules require higher buffers but also allow funds to increase risk under certain conditions – Carlo Svaluto Moreolo writes about the dilemma of how to deploy capital in the current economic environment
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Interviews
Strategically speaking: Candriam
“It was difficult to find a name,” recalls Candriam CEO Naim Abou-Jaoudé, a year after Dexia Asset Management needed a rebrand for its acquisition by New York Life Investments. “All the good names are taken!”
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Special Report
Interview: James d'Ath, Indexx Markets
Indexx Markets’ James d’Ath talks about whether ‘smart alpha’ could strip out unwanted fund costs to deliver purified active management
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Country Report
FTK: Will the new rules change Dutch pension funds' attitude to risk?
Wichert Hoekert and Geert-Jan Troost discuss the recent FTK changes and how they may impact risk strategies in the Dutch pensions industry
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Country Report
Best hands on deck: The consolidation of Dutch pension funds
As industry consolidation shows no signs of slowing down in the Netherlands, Leen Preesman finds that the drivers go beyond cost reduction
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Special Report
Smart beta multi-factor portfolio construction: The tracking error factor
Dynamic risk allocation delivers the benefits of factor investing without the crippling tracking error risk
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Special Report
Smart beta: Smart enough for bonds?
Is smart beta more difficult to implement in fixed income?
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Special Report
Smart beta and fixed income: Here for the duration
Smart beta would appear to make a lot of sense in fixed income, but market peculiarities can add complexity to many of the resulting products
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Special Report
Smart beta and currencies
In currency markets there is arguably no beta, but risk-factor trading has a long history in the asset class
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Features
Focus Group: Smarter than the average beta?
Over half of the funds responding to this month’s Focus Group survey currently allocate to investments that employ smart beta concepts, with an average of 17.5% of their equity portfolio managed in this way. Nine funds are considering further allocations.
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Features
Diary of an Investor: No magic bullet
The good 2014 return of Wasserdicht’s Dutch fund was less down to asset allocation and mostly driven by high hedge ratios, writes investment director Pieter Mullen
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Country Report
Slow shift in perspective for Belgian pension funds
Having enjoyed good returns in 2014, Belgian pension funds are now seeking alternatives to bonds, writes Gail Moss