Latest from IPE Magazine – Page 280
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Features
Time for trusteeship
Senior staff at China Investment Corporation (CIC) are talking about investment governance these days, reflecting growing recognition of the importance of sound non-executive or supervisory board oversight for all kinds of entities, be they global companies, sovereign wealth entities or pension funds.
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Features
Bond managers are worryingly sanguine
ECB president Mario Draghi unveiled his latest measures to arrest disinflation and rouse dormant corporate lending markets in June. Soon afterwards, big records started tumbling.
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Features
Put the trust back
Italy is a self-perpetuating paradox. Structural and historical forces keep the country under constant pressure; yet they drive a search for innovation to solve long-lasting problems. The pension system is a perfect example.
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Features
Pensions cart before the horse
It may come a surprise that the UK, Europe’s leading pension market by assets, has been one of the least innovative in terms of benefit design – something the present government is keen to rectify.
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Features
What price opportunity?
An overhaul of the Norwegian oil fund’s active management approach should free it from most of its current investment restrictions, according to a report co-authored by the former chief executive of the Canada Pension Plan Investment Board (CPPIB), David Denison.
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Features
Can the UK import concepts from abroad?
Government plans for pensions caused ripples in the industry after the official opening of the 2014-15 UK parliamentary session.
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Opinion Pieces
Is divesting working?
OK, it doesn’t work very well. We’re still on track for runaway climate change, according to Fatih Birol, chief economist of the International Energy Authority.
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Features
Risk in emerging markets and beyond
Book review Emerging Markets in an Upside Down World: Challenging Perceptions in Asset Allocation and Investment, Jerome Booth (Wiley, £29.99)
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Opinion Pieces
“Italian employees have great need of consistent additional pension coverage”
Assets managed by pension funds in Italy equate to about 6% of its gross domestic product. In a country where the social security system provides an adequate level of coverage at retirement that would not be a concern. But in Italy, after all the recent reforms, this situation represents a relevant risk for both employees and employers. Benefits provided by the social security system have strongly decreased over the last 20 years and the retirement age raised considerably.
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Features
Time to come together
M&A activity is expected to increase as the global economy recovers. Gail Moss looks at the implications for pension funds that sponsors and trustees should consider
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Features
All new IAS19: the verdict
The International Accounting Standards Board issued revisions to its pensions-accounting standard IAS19 in 2011. But has the project delivered the goods? Stephen Bouvier asks KPMG’s Naz Peralta about the evidence
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Country Report
On the growth path
Turkey’s supplementary pension assets should reach €11bn this year, finds Reeta Ilona Paakkinen. Auto-enrolment and reform of severance payments would boost growth but remain controversial
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Features
How we run our money: My door is always open
Alfredo Granata and Paola Muratorio tell Carlo Svaluto Moreolo about their fund’s drive to invest in the real economy and its openness to new ideas
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Special Report
Pension Fund Governance: A market in maturity
Fiduciary management has come a long way since its introduction in the Netherlands in 2001. Leen Preesman traces the chequered history that has led to six out of 10 Dutch funds, representing €700bn, embracing various forms of the model
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Special Report
Pension Fund Governance: Independent thinking
As the world gets more complex, professional independent trustees may come into their own. But, as Lynn Strongin Dodds writes, the choices have to be thoroughly considered, and some potentially serious pitfalls avoided
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Special Report
Pension Fund Governance: Objectives then implementation
Martin Steward talks to Roger Urwin about the thinking behind Towers Watson’s ‘transformational change’ projects with the world’s leading large institutional investors
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Special Report
Pension Fund Governance: Board effectiveness: From path dependency to integrative thinking
“One of the curses of our industry is path dependency,” says Keith Ambachtsheer, director emeritus of Toronto’s Rotman International Centre for Pension Management (ICPM) and academic director of the Rotman’s Board Effectiveness Programme (BEP) for pension funds.
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Features
Vital statistics
Headline numbers may obscure the fact that smarter business models are reversing outflows in the fund of hedge funds industry. Emma Cusworth looks at the trends behind the figures
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Features
Financing the real economy
The credit funds industry is evolving fast to meet the needs of the world’s SMEs. Claudio Bocci and Gianmatteo Guidetti provide a survey of the products on offer
