Latest from IPE Magazine – Page 33
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FeaturesFixed income, rates & currency: Chill winds prompt caution
Although 2022 was a remarkably bad year for bonds and equities, any hopes that 2023 might illuminate a brighter path have already been dispelled as rapidly changing narratives – from recession to boom to fears of a banking crisis – all tossed and turned stock and rates markets. The result was a remarkably turbulent first quarter.
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FeaturesJapan: New hand on the tiller
Kazuo Ueda, is the first new governor of the Bank of Japan (BoJ) in 10 years. One of outgoing governor Haruhiko Kuroda’s last moves was to widen the yield curve control (YCC) band on 10-year bonds from +/-25bps to +/-50bps. The reaction from the bond market over the following few days was to trade to the new upper limit.
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Opinion PiecesAlecta’s crisis management
It can certainly hurt a pension provider when investments go badly, but an organisation’s next steps in response to disastrous losses are vital.
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FeaturesGreenwashing: Teasing out the intentional from the accidental
Greenwashing is increasingly under the spotlight as investors and rulemakers try to figure out whether the chief concern is untruthfulness or the unintentional misleading of clients with environmental claims
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Country Report
UK: One way for DC schemes to access private markets
There is much debate about mark-to-model valuation methodologies and whether a material economic downturn will cause these to catch up with public market price falls, but the history books will show that portfolios with allocations to private markets were more robust than those with none in 2022 – the worst year on record for traditional balanced portfolios.
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Asset Class ReportsPortfolio Strategy – Emerging market equities
The Adani corporate scandal in India brought the issue of corporate governance in emerging markets back to the fore. As Lynn Strongin Dodds finds, however, emerging market corporates are slowly adapting to the requirements of institutional investors in terms of governance.
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Special ReportBriefing – Regulation
In Frankfurt, EIOPA has responded to the European Commission’s call for technical advice in its stocktake on IORP II, the European framework for occupational pensions. EIOPA proposes widening the scope of IORP II in a pivot away from cross-border pensions and towards sustainability. A consultation process is open until 25 May.
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Country ReportCountry Report – Pensions in the Netherlands (April 2023)
The Netherlands is in the final legislative stages of what will probably be the largest and most complex workplace pension system change ever in the world. Yet as it edges towards the parliamentary finishing line, recent political events could yet knock the process off course.
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Country ReportNetherlands: Pension overhaul nears another milestone
The law to reform Dutch pensions has finally been approved by the Dutch lower house, but the switch from DB to DC still needs to clear one hurdle – the Senate
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Special ReportManager selection: UK fiduciary management
Does fiduciary management still stack up as scheme funding improves?
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Special ReportRegulation: EIOPA takes stock of IORP II
Sustainability requirements in focus as EIOPA admits cross-border ‘failure’
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Asset Class ReportsEmerging market equities – Slow progress on corporate governance
Equity investors see improvements in corporate governance in emerging markets, but alignment between shareholders, management and owners remains critical
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Country ReportNetherlands: Early birds gear up for DC switch
The pension funds for pharmacists and librarians will be among the first to move to the new DC system. They talk to Tjibbe Hoekstra about the pros and cons of being an early mover, and discuss how the new system will impact their investment strategies
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Asset Class ReportsEmerging market equities – Investors watch as China corrects course
The Chinese government has managed to restart the economy post-COVID, but investors are cautious
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Special ReportRegulation: EC continues sustainable investment regulation drive
The state of play for EU sustainable finance regulation
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Special ReportManager selection: Brunel’s Helen Price on diversity and inclusion
Helen Price explains to Sophie Robinson-Tillett how the Asset Owner Diversity Charter will help schemes formulate standardised requests for information.
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Country ReportNetherlands: A bad year for performance
Most Dutch pension funds suffered double-digit losses in 2022
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Country ReportNetherlands: Interview with Agnes Joseph
The current timetable leaves no margin for error, Achmea’s Agnes Joseph tells Tjibbe Hoekstra
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Asset Class ReportsEmerging market equities – India’s dancing elephant in the room
Despite challenges with corporate governance and corruption, the prospects for India are too bright to ignore for investors
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Special ReportRegulation: IPE’s guide to pensions regulation in six key European countries
IPE’s guide to pensions regulation in six key European countries. Gail Moss reports
