Latest from IPE Magazine – Page 74
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Special ReportSpain: First phase of pension reform finally kicks off
Government and social partners agree on a package of measures after a decade of discussion
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Special ReportSweden: Occupational pension company route gains popularity
Some pension providers and funds are opting to align with IORP II rules rather than the Solvency II-based regime
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Special ReportSwitzerland: Rule changes widen investment choices
New regulations may give pension funds the ability to allocate beyond current limits
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Special ReportUK: Funding challenges amid continued market uncertainty
The UK’s pension regulator emphasises the need for schemes to focus on long-term planning, transparency and risk management
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Asset Class ReportsPortfolio strategy – Credit report
As the institutional investment community heads towards a post-COVID new normal, private credit remains a favourite among investors despite inflationary headwinds. In this report, we also cover the record amounts of capital raised by private-debt funds last year, the latest developments ESG in private markets, and how the digital transformation accelerated by COVID is impacting private debt.
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Country ReportCountry Report: Pensions in Italy
Italian pension funds are growing their allocation to illiquid asset classes at an increasing pace, spearheaded by a number of innovative institutional collaborations. In addition, the sector is more and more making investment choices with ESG factors in mind, as we analyse in our latest in-depth on Italy’s pensions. The report examines the impact of COVID-19 on the health of the country’s second-pillar pensions system, and finds why its future growth is dependent on more decisive policymaking.
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FeaturesPrivate credit: Floating to safety
Despite inflationary headwinds, the outlook for private credit remains strong
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Country ReportPrivate markets: Seeking post-COVID alternatives
Italian pension funds continue to invest in private markets ahead of a potentially promising post-Covid recovery phase
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FeaturesBriefing: New benchmark to reduce cost of FX transactions
Among the areas of focus for a pension fund looking to cut costs are the fees charged by its asset managers, usually as an annual percentage of assets under management, plus costs for other services. As part of a cost-cutting exercise, however, foreign exchange (FX) is often neglected. But as funds increasingly invest outside their home country, FX transactions are acquiring more significance because of the need to hedge foreign currency fluctuations. And these deals can carry hidden costs.
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FeaturesPrivate credit fundraising: A record year for private-debt funds
Record amounts of capital were raised by private-debt funds in 2020 but the outlook may be less strong in the short term
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Country ReportSecond-pillar pensions: The virtuous circle that will not start
Italy’s second-pillar pension system is developing but the industry awaits more decisive policymaking
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FeaturesESG & private markets: Crying out for standards
Growing awareness of ESG is fuelling pressure for definitive metrics to assess company performance
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Country ReportESG gains ground
Italian pension funds are increasingly making their investment choices with ESG factors in mind
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FeaturesDigital transformation: Take advantage of the digital reset
Covid has accelerated the digital transformation across all industries. How has it contributed to new trends and opportunities in private debt and how can investors benefit?
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InterviewsExit interview: Ivonne Forno
Ivonne Forno, former CEO of Laborfonds, reflects on her experience of building one of Italy’s most successful pension institutions
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Opinion PiecesGovernance must be the embedded solution
Europe now has approaching two decades of experience with the investment outsourcing that is loosely called fiduciary management, or sometimes outsourced CIO (OCIO), to use the US terminology.
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Opinion PiecesESG: progress but still much road to travel
Good things are happening in the land of ESG. Aspects of the European Commission’s sustainable finance action plan regulation have certainly been frustrating, but the sustainable finance disclosure regulation (SFDR), for example, does look like it could end up having a beneficial effect, even though there are still problems associated with it and the effect is perhaps not the one that was envisaged for the SFDR.
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Opinion PiecesNotes from Switzerland: Work in progress
History repeats itself, first as tragedy, second as farce: now another referendum result in Switzerland is poised to obstruct changes designed for a long-term impact.
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Opinion PiecesSocial risks impact on employer covenant
The UK’s Department for Work and Pensions (DWP) recent consultation – Consideration of social risks and opportunities by occupational pension schemes – seeks to assess how trustees understand ‘social’ factors and how they aim to integrate financially material social factors into investment and stewardship activities.
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FeaturesEuropean venture capitalists finally adopting ESG
Many would argue that venture capital (VC), at its core, has a positive impact on the world as it is driven fundamentally by the desire to solve society’s problems. But there is a contradiction between that driving mission, and the reality of the slow adoption of ESG into the consciousness and the investment processes of VCs and their assets.
