Latest from IPE Magazine – Page 272
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Country Report
Pensions In Nordic Region: Rethinking traditional allocations
Casper Hammerich outlines some of the key findings on asset allocation from the ninth Nordic Investor Survey
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Special Report
Active Management: Passive skeletons in the active closet
Charlotte Moore tests the limits of quantitative measures of ‘activeness’ in portfolio management, and finds that a good dose of qualitative common sense is a vital part of the manager selection process
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Special Report
Special Report - Emerging Markets: Safety first?
Claims that emerging market investors herded into quality companies in the first half of 2014 raise concerns about troubled times ahead. But as Lynn Strongin Dodds finds, some of that trade has already unwound – and there is a strong counter-argument that investors were, in fact, looking for growth rather than safety
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Special Report
Active Management: Diluting by concentrating
Concentrated portfolios can look like a proxy for high-conviction and high-alpha portfolios. Martin Steward asks if the two things necessarily follow one another
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Country Report
Pensions In Nordic Region: Finns look towards new frontiers
Two leading Finnish pension funds see potential in frontier markets and China equity, finds Reeta Paakkinen
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Special Report
Special Report - Emerging Markets: Fed up with volatility
The Federal Reserve-sparked ‘taper tantrum’ of 2013 revealed how sensitive emerging market currencies could be to interest rates set in the developed world. Caroline Saunders asks whether that volatility told us more about investor sentiment than fiscal fundamentals
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Special Report
Active Management: The portfolio tax
C Thomas Howard argues that active equity fund managers are superior stock pickers but destructive portfolio managers, to the extent that stockpicking skill is completely wasted
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Country Report
Pensions In Nordic Region: Retirement age rise
Reeta Paakkinen outlines reforms to Finland’s pension system, that will increase the retirement age and the accrual rate for earnings-related pensions
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Special Report
Special Report - Emerging Markets: Corporates come of age
A structural advantage is baked into emerging market corporate debt, but exploiting it is dangerous without intense credit work. Caroline Saunders finds a market coming out of childhood but not yet an adult
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Special Report
Active Management: Understanding investment skill
Rather than outcomes-oriented measures, Michael Ervolini argues that to assess active managers’ skills they need to be isolated by comparing their portfolios with alternative, ‘adjusted’ portfolios
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Special Report
Special Report – Emerging markets: At the frontier
Beverly Chandler takes a closer look at some of the companies that make up the frontier markets opportunity, finding a rich mix of local consumer-finance, technology and manufacturing names that offer investors their last chance to buy into a secular growth trend
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Country Report
Pensions In Nordic Region: Still a competitive market
KLP is on track boost its position as the country’s second largest public pensions provider following the exit of Storebrand and DNB from the local authority market, writes Rachel Fixsen
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Features
That’s about the size of it
In late September, one of the world’s largest pension funds ditched its hedge funds, and one of the world’s largest mutual funds lost its manager. One decision made sense, but not for the reasons most commentators put forward. The other made sense, despite all the focus on the nonsense surrounding it.
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Features
Hill’s grilling on an open fire
After two hearings and nearly six hours of grandstanding and deflection, rhetorical and leading questions, the European Parliament in October approved Jonathan Hill’s appointment as financial services commissioner.
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Features
Climate risk takes centre stage
This September’s United Nations Climate Change summit in New York combined political and show business razzmatazz with the gravitas of investors like Mats Andersson, CEO of Sweden’s AP4 pension fund, who addressed the UN General Assembly.
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Asset Class Reports
Beleggersberaad 2014: Managers sing praises of frontier markets
Emerging market debt (EMD) has matured and could now act as a “useful addition” to a pension fund’s fixed income portfolio, according to Roy Scheepe, senior client portfolio manager at ING Investment Management.
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Features
Infrastructure: Pension funds turn back on middlemen
European pension funds have long been aware of the benefits of infrastructure but, in 2014, the idea of co-investment with other pension funds has become a much more realistic option.
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Features
Long-term Matters: Lost on Tesco
The UK Financial Conduct Authority’s inquiry into the supermarket Tesco is almost certain to miss a key part of the story – how investors enabled this dysfunctional culture. In September the retailer announced it had significantly overstated its first-half profit forecast.
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Asset Class Reports
Interview - DMO:We want to hear from you
Robert Stheeman, CEO of the UK Debt Management Office, tells Taha Lokhandwala about the importance of ongoing dialogue with institutional investors
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Features
Interview - BVI: When special becomes alternative
Thomas Richter, CEO of the German Investment Funds Association, discusses the AIFMD, the future of Spezialfonds and opt-out models for occupational pensions with Barbara Ottawa
