Latest from IPE Magazine – Page 267
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Features
Focus Group: Do you get what you pay for? (Part 2)
Just half of the participants to this month’s Focus Group think diversity on a pension fund board is important – but three respondents ranked it as “very unimportant”. “[It is important] both in terms of employer representation, member representation, cultures and gender. Diversity is a key aspect of our communication strategy,” said a UK fund.
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Special Report
Pension Fund Governance: Avoid the bear traps
UK pension funds are increasing governance levels as they implement regulatory guidance on integrated risk management, says Pádraig Floyd. Professional trustees are playing a greater role
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Asset Class Reports
Investment Grade Credit: Electronic liquidity taps open up
A recent paper from Pictet Asset Management paints a picture of fast-diminishing liquidity, but also some innovative responses. Martin Steward reports
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Features
Inflection point of emerging markets
In this article, the first in a series delving into a new study, Nick Lyster and Amin Rajan ask whether emerging markets are becoming yesterday’s story or are merely rebooting their growth engines before the next leap
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Country Report
Italy: Moves to improve standards
Following scandals at casse di previdenza, we asked leading pension funds and advisers: Is there a problem with governance at Italian pension funds and what steps should be taken to improve standards? Carlo Svaluto Moreolo reports
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Country Report
Italy: Your country needs you
Pension fund assets are in demand for infrastructure and SME lending as bank credit dries up. Carlo Svaluto Moreolo finds mixed views about whether funds will take up this opportunity
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Country Report
Italy: Freedom beckons
Carlo Svaluto Moreolo outlines long-awaited changes that will liberalise investment rules for Italian pension funds
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Country Report
Italy: Revolution, not evolution
Maria Teresa Cometto surveys three issues in Italian pensions – politics, slow growth and lack of commitment to pension savings
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Country Report
Italy: Desperately seeking members
Consultants and asset managers tell Rachel Fixsen how they think the Italian supplementary pension system should develop
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Country Report
Italy: The search for pension assets
Iain Morse surveys Italy’s custody market, which is undergoing sweeping changes
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Country Report
Switzerland: And now for the details
Switzerland’s AV2020 reform programme remains contentious and politically charged, according to Barbara Ottawa. But some are still holding out for a depoliticisation of the process
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Features
Liability-Driven Investment: This sprint finish could get brutal
Things seem to have gone pretty well for UK pension schemes during 2013. A combination of rising bond yields and an equity market rally meant that, at the least, funding levels didn’t get any worse, and at best got schemes two or three percentage points closer to the finishing line.
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Special Report
Risk and Portfolio Construction: Rates of change
To a large extent today the question of what to do in portfolio construction is really a question of what to do about interest rates.
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Special ReportTop 400: Global assets up 8.9% in 2013
M&A has featured highly in asset management in recent years. Until now, this has largely been dictated by external circumstances, such as bank parent companies seeking to increase capital adequacy or to abide by competition regulations.
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Asset Class ReportsDeveloped Market Sovereign Bonds: From ruin to recovery
Fundamentals, technicals and sentiment have come together to change the fortunes of peripheral euro-zone bonds. Joseph Mariathasan finds that, while these markets may never again be considered core, yield-hungry investors are happy to provide continuing support
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Special Report
Risk and Portfolio Construction: A corner turned
The consensus is that 2012 saw the trough of the 30-year downdraft in interest rates. Daniel Ben-Ami tests the strength of this conviction and describes the scenarios that could threaten it
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Special ReportTop 400: The essential C-word in investment management
Mitesh Sheth defines 10 dimensions of an undervalued factor in investment management
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Special Report
Risk and Portfolio Construction: From solo to tango
As the bond markets move from bullish to bearish, David Turner asks if we need new assumptions about asset class correlations
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Special ReportTop 400: Not so hasty: Keeping a manager when the going gets tough
Rick di Mascio argues that the decision about whether to sack an underperforming manager should be one that focuses on process, not just performance numbers
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Special Report
Risk and Portfolio Construction: A new era for risk parity
Jennifer Bollen asks whether the end of the bond bull market signals the death of the traditional risk parity model
