Latest from IPE Magazine – Page 88
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Opinion Pieces
Deleveraging is no free lunch
After temporarily shutting down the global economy, governments are pursuing a massive fiscal expansion in order to support struggling businesses and consumers.
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Special Report
2021 Investment horizons: Sovereign debt in the wake of the pandemic
Current issuance levels look like an experiment in government debt. What are the warning signals for investors?
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Country Report
Norway: Tangen’s reshuffle at NBIM
The colourful new CEO of Norway’s sovereign fund is targeting a more diverse and technologically resilient organisation
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Opinion Pieces
Improvement required
Climate change will continue to be one of the most economically impactful events as it affects us all. It requires immediate and ambitious action to prevent the worst effects on people and biodiversity and it signals a message that nations need to build a more resilient and sustainable global financial system.
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Special Report
2021 Investment Horizons: Hazy outlook for hedging
Investors must be cautious when navigating today’s cloudy inflation landscape
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Country Report
Norway's individual pensions: Pots follow member
New rules should drive consolidation and inject competition into the supplementary pensions business
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Special Report
2021 Investment Horizons: A painful year looks imminent
Pension provision is likely to take a hit in 2021 as the pandemic-related crises lead to rising unemployment and greater job insecurity
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Country Report
Sweden's AP funds: Alternatives are go
AP funds welcome the removal of the ceiling on their investment in alternatives
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Features
Is sustainability mispriced?
Living in the developed world over the past 50 years, life has been stable, even idyllic, for most people. That is certainly compared with their grandparents and previous generations who lived through two world wars and the Spanish flu. But, as COVID-19 has shown so cruelly, there are existential dangers that can lie hidden. These can rip the established world order asunder if not tackled beforehand.
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Features
Long term matters: A time to be hopeful and active?
Jaap van Dam, principal director of investment strategy at PGGM, is right: pension funds need to understand politics. We have two additions. First, the ‘outside-in’ focus – how politics affects portfolios – is a great starting point. But investors cannot stop there, they have considerable influence on politics whether for good or bad.
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Opinion Pieces
Guest viewpoint: Sir Ronald Cohen
We are on the threshold of another major shift in institutional portfolios. Impact transparency is changing the rules for both investors and businesses.
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Interviews
On the record: Outlook 2021
Heading towards the end of one of the most challenging years ever for the global economy, IPE asked three institutional investors about their outlook for 2021
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Interviews
How we run our money: Germany's BVK
André Heimrich (pictured), CIO of the Bayerische Versorgungskammer (BVK), and his team speak to Carlo Svaluto Moreolo about the pension fund’s global diversification strategy
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Features
US endowments: Success breeds success
Perhaps no single group of institutional investors elicits as much fascination and admiration as US university endowments – in particular those of the Ivy League, and among that elite group the Yale and Harvard endowments in particular.
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Opinion Pieces
Letter from Australia: Reforms not super for default funds
A string of government reforms due to come into effect from July 2021 has caught the superannuation sector off-guard.
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Opinion Pieces
Letter from US: COVID-19 places new demands on university endowments
COVID-19 has hit a special category of institutional investors in the US hard – college and university endowments. In fact, higher education institutions are facing a decline in revenues because of fewer students enrolling and paying tuition, as well as current students asking for more financial aid. Colleges and universities are withdrawing substantial amounts from their endowments to cover these extra expenses. How is this affecting endowments’ investment strategies?
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Features
Strategically Speaking: BlueBay Asset Management
Nowadays, it seems fair to ask asset managers whether they believe they can fulfil their clients’ needs while at the same time doing their bit to fight COVID-19.
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Features
Accounting Matters: Accounting for the Wedge
The reason why defined benefit (DB) scheme sponsors account for inflation is because International Accounting Standard 19, Employee Benefits, tells them that if they make a benefit promise that is linked to price increases, the effect of that commitment has to be accounted for. The starting point for what by any standards is a gargantuan actuarial task is to look at yields on inflation-linked bonds.
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Features
Perspective: Markowitz is still modern
Thirty years after he was awarded the Nobel Memorial Prize in Economic Sciences, Harry Markowitz’s groundbreaking work from the 1950s still powers financial innovation
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Features
Research: Resilience is the new watchword
In the first of two articles, Pascal Blanqué and Amin Rajan ask whether the current volatility in asset prices is a buying opportunity or the halfway stage in a prolonged bear market?