Latest from IPE Magazine – Page 278
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Special Report
Special Report - Securities Services: Margin of error
It’s tough making an honest euro in custody banking. Users of these services might be forgiven for thinking that wherever banks can bury sharp practices in obscure parts of their businesses, they will – and the findings of the UK finance regulator’s recent investigation into transition management won’t put their minds at rest.
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Special Report
Special Report - Securities Services: Collateral transformations
Is the securities services industry betting on a new set of complex solutions to a collateral management problem that might never materialise? Brian Bollen investigates
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Special Report
Special Report - Securities Services: The optimisation opportunity
Collateral optimisation presents an opportunity for the buy-side to take advantage of the collateral shortfall, says Matthieu Baudoin
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Special Report
Special Report - Securities Services: In time, every time
Ido de Geus outlines what pension funds and their service providers need to do to ensure they are ready for the collateral-hungry regulatory environment that awaits them in a few months’ time
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Special Report
Special Report - Securities Services: Minority report
As deadlines for mandatory reporting of OTC derivative trades under EU rules pass, Daniel Ben-Ami finds a fair amount of confusion and evidence of non-compliance
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Special Report
Special Report - Securities Services: In transition
The transition management industry has had its knuckles rapped by regulators over recent months. But as Emma Cusworth reports, clients have an obligation to understand the service thoroughly, too
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Special Report
Special Report - Securities Services: Reporting progress
While most counterparties have managed to submit their OTC trades to authorised repositories under new reporting rules, Susan Hinko and David White note that it remains unclear who has traded with whom
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Special Report
Special Report - Securities Services: Strained relations
A wave of regulation is putting pressure on custodians’ resources across the board – including client relations. Iain Morse notes that R&M’s latest annual Global Custody survey found an unprecedented decline in client satisfaction, with the burden of meeting regulatory requirements seen as the main reason
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Special Report
Special Report - Securities Services: The custodian cornerstone
As the UK continues its discussion of ‘Dutch-style’ collective DC schemes, Carl Giannotta examines changes in the securities services landscape in the Netherlands and how custodians can support such collective schemes across both sides of the North Sea
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Special Report
Special Report - Securities Services: Without a TRACE
Lorraine White urges governments and pension funds to adopt the OECD’s Tax Relief and Compliance Enhancement system (TRACE), in order to introduce a more efficient relief-at-source model to international withholding tax
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Features
Miracle redux?
Investors are hoping Mexico’s reforms spark another growth surge. As Christopher O’Dea reports, the best play may be in the local bond market
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Features
Not the destination but the path
Vassilios Papathanakos and David Schofield explain why it’s easier to estimate volatility than forecast returns, and why it matters for superior returns and better risk management
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Features
Minimum variance, maximum duration
The prevalence of highly-indebted companies and sectors in minimum-variance portfolios could expose investors to interest rate risk, warns Mehdi Guissi
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Features
Teenage years
Fiona Reynolds faced a protest storm soon after coming on board at PRI as executive director. Jonathan Williams caught up with her 18 months into her job
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Asset Class Reports
Emerging Market Debt: Bonds and the ballot box
Amid a rash of important elections, the rumble of ongoing territorial disputes, a deteriorating situation in coup-plagued Thailand and an alarming rise in tensions between Hong Kong and Beijing, Joseph Mariathasan looks into the impact of political risk on Asia’s bond markets
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Asset Class Reports
Emerging Market Debt: Grade deflation
Take out the 2008-09 crisis, and the past 18 months have seen emerging market credit rating downgrades outnumber upgrades for the first time in over a decade. Joseph Mariathasan asks if the loss of momentum in ratings convergence is a sign of weakening fundamentals or a return to old prejudices
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Asset Class Reports
Emerging Market Debt: Default judgement
The US Supreme Court judgement that led to Argentina’s eighth debt default is an alarming precedent for both emerging and developed sovereigns, argues Rani Mina
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Asset Class Reports
Emerging Market Debt: Carry through the crises
Navigating the switch from fundamentals-driven volatility to carry-driven calm in 2013-14 has been a challenge for emerging market debt managers, Martin Steward writes. The eruption of political crises simply adds to the complexity
