Latest from IPE Magazine – Page 259
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Features
Diary of an Investor: Generation games
Now that my children are getting older they ask me more about what I do for a living and the questions are getting a bit more demanding. My eldest, especially, is at an age when questions come thick and fast.
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Features
Focus Group: Is patience a virtue?
Over three-quarters of respondents polled for this month’s Focus Group consider their fund to be a long-term investor.
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Country Report
Pensions In Nordic Region: Staring contest
There is no end in sight to capital controls, despite the government’s tentative first steps towards easing the restrictions that have been in place since 2008, writes Carlo Svaluto Moreolo
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Country ReportSpain: Home is best
Gail Moss assesses investment trends for Spanish pension entities, which have recorded their second successive year of high returns
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Special Report
German Asset Management: The devil’s in the details
Barbara Ottawa looks at the impact of legislative and regulatory changes on the German asset management industry
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Special Report
Real Assets: Material changes
Is there is a tension at the heart of this month’s special report? On the one hand, we write about markets undergoing significant change. On the other, we deal with issues arising from the pursuit of dependable, boring, long-term cash flows from real assets.
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Asset Class ReportsHigh-yield Bonds & Loans: Revolution from above and below
Few markets outside the emerging world have changed to the extent that European high-yield has over recent years. Joseph Mariathasan and Martin Steward find transformation coming from the massive to the micro, from above and below
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Country Report
Spain: A pessimistic outlook for pensions
Spanish workers can expect to receive detailed information from their employers about their retirement outlook, according to Carlo Svaluto Moreolo. Few think this will boost supplementary retirement savings at a time when the government is reducing tax incentives
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Special Report
German Asset Management: Willing but mostly unable
Low yields mean German institutions continue to look at infrastructure. But the opportunities they find are mostly unattractive, says Barbara Ottawa
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Special Report
Real Assets: Let's roll
Backwardation is back in commodity futures curves. Martin Steward asks, can investors at last expect to be paid for taking risk in the asset class, or is it a flash in the pan?
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Asset Class Reports
High-yield Bonds & Loans: Covenants and calls
Joseph Mariathasan and Martin Steward ask whether investors’ traditional protections are getting squeezed out in the convergence of high yield bond and loan markets
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Special Report
German Asset Management: Robust in spite of regulatory change
Institutional investors have maintained their confidence in Spezialfonds through the regulatory changes of the past few years and providers can look forward to a good 2015, according to Till Entzian
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Special Report
Real Assets: Digging a way out of the hole
The misery index reached a new low in Australia this summer as the mining slump continued to bite. But, as Christopher O’Dea reports, a new round of investment is looming as leading emerging-market producers target a bigger share of revenue from their mineral resources and mining companies cut unprofitable projects
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Asset Class Reports
High-yield Bonds & Loans: Lien and healthy?
Jennifer Bollen finds booming leverage markets bringing second-lien debt back into vogue in private equity deals – and in Europe, that can mean mezzanine-like risk
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Country Report
Portugal: Confidence returns
Portugal’s supplementary pension funds have increased their equity weightings but are still cautious on fixed-income, writes Gail Moss
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Asset Class Reports
High-yield Bonds & Loans: Floored argument
More and more loans are being written with interest rate floors, at lower and lower rates. While these were a great feature over the past five years, Charlotte Moore asks whether they weaken investors’ floating-rate protection for the next five years
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Country Report
Pensions Caixa 30 to move from Spanish bonds to illiquid assets
Evolution not revolution is the name of the game for Pensions Caixa 30, Spain’s largest pension fund with €4bn assets under management, a further €1.59bn in insurance policies and almost 44,000 members at present.
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Special Report
Real Assets: Generating returns
Energy and power in Europe is subject to long-term plans to improve the single market, but also buffeted by the short-term vicissitudes of politics, geopolitics and even natural disaster. Daniel Ben-Ami attempts to clarify the investment themes
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Special Report
Real Assets: Real challenges
Frances Hudson outlines just how many obstacles lie between pension funds and investment in European real assets, and calls for further debt and securitisation to open up the market
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Asset Class Reports
High-yield Bonds & Loans: Slow but steady progress
While some European countries are making progress with respect to non-bank funding for mid-market businesses, others still have some way to go. Yet there is a growing appetite for the standardisation and transparency required to develop this market, write Alexandra Krief and Taron Wade
