Latest from IPE Magazine – Page 271
-
Special Report
Credit: Not-so-high yield
Investors in the super-hot high-yield market are finding terms and documentation moving significantly against them. Charlotte Moore uncovers the details and looks for signs of a tipping point
-
Features
Growing pensions China style
China launched a massive stimulus pro- gramme in 2008 in its bid to fend off the ravages of the global downturn. While that largely succeeded, there are now long-standing fears of an asset bubble, particularly in property. Growth is predicted to slow this year to its lowest rate since 1990. The country is in the midst of an anti-corruption drive, which is hitting sales of luxury goods, and air quality is still awful.
-
Features
Three is a magic number (again)
Last month I wrote about how bond-market valuations are supported by the shape of the yield curve. This month (inspired by a presentation by BNP Paribas’ Kokou Agbo-Bloua I saw recently) we will turn to equities.
-
Features
Brinksmanship
The Dutch pension system has been on the brink of a large-scale overhaul for five years now. In 2009 the government postponed a wholesale revision of Dutch second- pillar pensions with two major studies into the sustainability of the Dutch second pillar. Their findings led to a slew of reform proposals – some sensible, some outrageous, all contentious.
-
Features
Warning: contents may vary
Michel Barnier, the European Commissioner for the internal market, seems determined to end his period in office with a blizzard of activity ahead of this month’s European Par- liament elections. The (much watered down) draft directive for IORP II and a paper on long-term financing of the European economy were closely followed by a draft directive revising shareholder rights legislation, complete with a controversial proposal for a mandatory say-on-pay vote at EU listed companies.
-
Features
Little red box full of radical tricks
Every spring, the UK chancellor presents the public with a red box full of tricks, setting out the government’s economic plans. While pension tax relief has often been tinkered with, this year George Osborne announced a wide-ranging reform of the defined contribution (DC) at-retirement system, the implications of which will be far-reaching.
-
Features
Can the EC play a long-term game?
As part of the European Commission’s reinvigorated attempt to promote future investment in key economic areas, it has now produced a legislative agenda for the long-term financing of investment.
-
Opinion Pieces
The countdown begins
The countdown has started. By the end of May, 751 members of the European Parliament will have been selected by as many of the 400m electors who care enough to vote.
-
Features
The mission for pensions reform
Eleven years have passed since the European pensions industry digested, welcomed and, in some cases, bemoaned the Directive for Institutions for Occupational Retirement Provision, or IORP I as it became known. This year, the European Commission once again took up the arduous task of updating this Directive, publishing its legislative agenda before submitting it to the European trialogue machine.
-
Features
On the naughty step
Moves by members of the European Parliament to subject accountancy bodies to greater political scrutiny spell trouble for the IFRS Foundation, writes Stephen Bouvier
-
Opinion Pieces
Body of evidence
When I was training to be a doctor, the advent of evidence-based medicine (EBM) was a major step forward.
-
Opinion Pieces
Nigel Waterson, Chairman of trustees, Now Pensions
“There is one universal truth upon which virtually everyone agrees – the UK annuities market is broken”
-
Features
Pension perceptions programme puts pension funds in control
Following the successful completion of an initial development stage in 2012-13, IPE has now announced the full European roll-out of the Pension Fund Perception
-
Features
Viva Aviva? Well, maybe
Gail Moss looks in detail at Aviva Staff Pension Scheme’s £5bn longevity risk transfer which, although still part of a relatively small club, could open the door to similar deals
-
Features
Creativity in captivity
After Iceland’s banking collapse, capital restrictions meant pension funds had to invest significant assets in the domestic market. Gylfi Jónasson, CEO of the Festa Pension Fund tells Jonathan Williams that being captive does not have to breed contempt
-
Country Report
Nordic Region: Sweden: And then there were three
This March, the Swedish government confirmed it would merge some of the AP buffer funds, reducing the total to three from the current five. Jonathan Williams asked State Secretary Erik Thedéen about the closures and the removal of quantitative investment rules
-
Country Report
Nordic Region: Chasing real yields
Jonathan Williams examines how real assets play a role in the portfolios of Nordic investors in the low-yield environment
-
Country Report
Nordic Region: Iceland Deflating the bubble
Iceland’s post-crisis capital controls left pension funds chasing limited domestic assets, writes Jonathan Williams. The hope is that a resurgent economy will allay the risk of a bubble
-
Country Report
Nordic Region: Meet Elo – Finland’s newest fund
Elo’s chief executive officer, Hanna Hiidenpalo, tells Reeta Paakkinen of the challenges facing Finland’s newly merged mutual pension insurance company
