Latest from IPE Magazine – Page 254
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FeaturesAsset allocation: The big picture
Are strong equity markets signalling an optimistic outlook for economic growth? Possibly, although economic data – particularly from the US and China – has been pretty disappointing since the start of this year. This year’s strong equity performance may have more to do with the fact that money remains extremely easy and economic growth, although dull, remains steady.
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Features
Fixed income: 2015 in sovereign bonds
The first four months of 2015 were characterised by a rally in sovereign bond markets, aided by accommodative central bank policy and mounting uncertainty over the sustainability of Greek debt.
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InterviewsStrategically speaking: NN Investment Partners
The rebranding of ING Investment Management, a well-recognised name in European asset management, is the epilogue to an intricate story that began during the financial crisis of the late 2000s
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Features
ESG investment: A Japanese carrot and a stick
In 2014, four years after the UK, Japan became the first country to issue a similar Stewardship Code. He look at the cultural shift occurring in a market traditionally lacking engaged investors
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Asset Class ReportsBuybacks briefing: Eating their own cooking
In the past few years, companies from many sectors have found a single new favourite investment – their own stock
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FeaturesEvent shortfall: Taking account of unmeasured opportunity costs
Investors should be aware of the costs incurred when reallocating assets within portfolios
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Special Report
The language of infrastructure
Frederic Blanc-Brude argues that a new data and monitoring framework will help investors improve their decision making on infrastructure investments
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NewsAustria introduces stress tests, ratings rules for pension funds
New risk-management directive also covers derivatives
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Features
Sovereign wonderland
Potential investors in Europe’s sovereign bond markets may feel they have stepped into Alice in Wonderland. Many sovereign debt markets are offering return-free risks, and negative bond yields make a mockery of traditional explanations of the time value of money. What we are seeing is the end result of two powerful but opposing forces within Europe that reflect the chaotic responses to the global financial crisis.
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Special Report
Top 400: Mass market – a brave new world
Andy Masters and Richard Clarke argue that asset managers need to be more focused on the end consumer and develop a range of products suitable for multi-phased retirement
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Opinion Pieces
Guest Viewpoint: Dick Boeijen & Niels Kortleve - PGGM
“The Netherlands can learn from countries with more experience of DC and other countries can profit from Dutch expertise of risk sharing”
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Opinion Pieces
Letter from Brussels: Awaking a sleep-walking economy
A few more European cross-border lending opportunities have started to emerge. This follows anticipation of the European Investment Plan launched by Jean-Claude Juncker
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Opinion Pieces
Letter from the US: DB pensions bond bind
US corporate pension funds are caught in a dilemma. They are buying long-dated bonds to match their liabilities but in doing so they are driving down their yields, making liabilities look more expensive
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Special Report
Top 400: Time for compulsory stewardship
Asset owners and investment managers should be made to disclose their portfolio turnover and how they vote their proxies, according to Raj Thamotheram and Matthew Taylor
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Special Report
Are risk parity funds staying true to their name?
There is a growing divide between the theory behind risk parity strategies and the investment products on offer
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Special Report
Risk Parity Funds: Mixed performance despite low volatility targets
Risk parity funds have experienced mixed performance in recent years despite targeting low volatility
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Special Report
Risk parity: Variations on a theme
Risk parity investing can be modified to work better in the current difficult environment
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Special Report
Risk parity cost: The price of protection
How much should a risk parity strategy cost?
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Special Report
Tail risk parity
Risk parity approaches can be redesigned to tackle the possibility of extreme market events
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Special Report
Risk parity and commodity investing
Joseph Mariathasan assesses the role of risk parity strategies in commodities
