Latest from IPE Magazine – Page 268
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Features
How we run our money: KZVK-VKPB
The two schemes are separate legal entities but are managed through a single fund and investment team, led by CIO Wolfram Gerdes
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Country Report
Pensions in Central & Eastern Europe: In search of size and scale
Rachel Fixsen speaks to the CEOs of two of Latvia’s open pension funds about strategy, consolidation and communication
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Special ReportSpecial Report, The M&A Cycle: Credit over-reaching
Joseph Mayo advises bond investors on what to look out for during the ‘reach’ phase of the credit cycle – and what to do about it
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Features
Investment Briefing: Sayonara, keiretsu
Abenomics may not be the only reason to take another look at Japanese equities. David Turner uncovers a sudden conversion to the shareholder-friendly religion
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Features
Cash is king
There is a reason why business people judge their success by money in the bank. Alistair Wittet asks why equity investors focus more on accounting values that obscure this crucial number
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FeaturesPortfolio Risk Management Commentary: Diversifying fat tails away
Peter Meier, Jann Stoz and Marc Weibel explore the effects of optimising for tail risk rather than volatility, in portfolios with and without hedge funds
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Features
ESG Interview - Jeanett Bergan, KLP: Divestment is only the start
When should asset owners concede defeat and divest from a troublesome company? Jonathan Williams talks to Jeanett Bergan of Norway’s KLP about engagement, divesting, and how exclusion can be the first part of a longer dialogue
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InterviewsStrategically speaking: Aberdeen Asset Management
The timing of Aberdeen Asset Management’s £600m (€757m) acquisition of Scottish Widows Investment Partnership (SWIP) at the start of 2014 could not have been better.
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Features
Asset Allocation - Fixed Income, Rates, Currencies: The big picture
The new year will surely see the US Federal Reserve finally raise target rates. When it does, it will be for the first time in six years – which is nearly a record
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Features
Ahead of the Curve: An era of diminished expectations
Peter Perkins runs through some basic asset and regional allocation strategies to meet the probable economic scenarios of the next decade
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FeaturesFocus Group Small isn’t necessarily beautiful
If IPE’s Focus Group is anything like a representative sample, European institutional investors do not allocate much to smaller companies. Only about half invest in listed small-caps, and those allocate 5% or less of their assets. About two-thirds invest via private equity but, again, most allocate in single digits.
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Interviews
On the Record: Do you invest in long-term, illiquid assets?
Matching long-term cash flow to liabilities
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FeaturesInterview: Yngve Slyngstad, NBIM, Master of the universe
Yngve Slyngstad is one of the most influential asset owners in the world. As chief executive of Norges Bank Investment Management (NBIM), he oversees the day-to-day affairs of the Government Pension Fund Global, the sovereign wealth fund that claims ownership of 1% of all equities worldwide – and 2.5% of those listed on European exchanges.
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Opinion Pieces
Guest viewpoint: Con Keating - BrightonRock Group
With 78% of pension funds considering themselves long-term investors in an IPE Focus Group survey, it would be tempting to believe that dramatic progress had been made towards achieving the objectives of the Kay Review on UK equity markets.
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Opinion Pieces
Letter from the US: Data managers
Technological tools, data management, attention to governance and transparency are the most important issues for pension fund CIOs right now.
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Features
Vive la répartition
While she might have abolished peculiarities such as yellow car headlights and the old-style caps of the gendarmerie, France’s pension system, based on répartition (redistribution), remains as distinct as ever.
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Features
I need a dollar
Risk assets had a terrible time early in October. What was all the fuss about? Soft US retail sales data? Hardly. The geopolitical background? Unlikely. Weak numbers out of Germany and a lack of faith in the ECB? Jitteriness at the prospect of the Fed packing up QE? Quite possibly.
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Opinion Pieces
Every lesson helps
Here are 12 things arising from the Tesco accounting debacle that pension funds could deploy which would help prevent, or at least mitigate, similar implosions.
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Features
Interview, Gabriel Bernardino: We are listening
Gabriel Bernadino, chairman of EIOPA, tells Taha Lokhandwala why his organisation wants stakeholders to challenge the ideas in its consultation on regulatory frameworks
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Interviews
On The Record: CERN Pension Fund Switzerland, Théodore Economou, CEO
As an investor, I focus on managing risk as well as return. Going forward, simply beating the index will no longer be enough, and that is why they will have to focus on risk-management in portfolio construction. At the same time, I believe it is important to look at the long-term cycle, as there is value added in identifying long-term risks and trends.
