Latest Special Reports – Page 102
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Special ReportPortfolio Construction: Broaden your horizons
On the hunt for truly diversified sources of risk, Martin Steward takes aim at different investment time horizons
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Thematic Investing: Variations on a theme
There are as many definitions of thematic investing as there are thematic investors. Martin Steward asks how significant themes really are as drivers of managers’ risk
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Thematic Investing: Themes or fads?
Thematic investing in public markets is often biased towards small-caps with emerging business models or technologies. But Joseph Mariathasan finds that the process does not translate smoothly into private equity
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Thematic Investing: Beloved, unloved cleantech
The market-wide sell-off, competition from Asia and the debacle at COP15 has put a dent in the cleantech theme for now, finds Nina Röhrbein. But this only makes the still robust long-term story look better value
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Thematic Investing: Specialists or generalists?
There is more to sector specialist long/short equity funds than systematic sector risk, finds Stephane Macresy
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Thematic Investing: Nothing gained?
Venture capital has limited capacity, lacklustre returns and a mysterious risk profile that does not reward diversification. Martin Steward tries to find a place for it in pension fund portfolios
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Special ReportLiabilities & Matching Strategies: Stractical
There are several ways to make LDI implementation smarter, but practitioners differ significantly over whether or not these are tactical moves – and the extent to which they should deviate from the strategic de-risking journey plan. Martin Steward reports
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Liabilities & Matching Strategies: Bespoke fit, chainstore refund policy
The benefit that swaps bring to liability driven investing, of being able to create a bespoke hedge across almost the entire tenor of a scheme-specific liabilities curve, comes at a price: concentrated counterparty risk. The interbank market in swaps has not had to worry about that since 1999, when LCH.Clearnet ...
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Liabilities & Matching Strategies: More bedtime reading from ASB
Stephen Bouvier looks at the UK ASB’s latest recommendations on pension liability accounting, and how they fit with ongoing IASB efforts
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Liabilities & Matching Strategies: Inflation and pensions
Theo Kocken welcomes the recommendations of the Frijns Committee, which would bring the FTK in line with the effective ambitions of pension funds to provide indexed pensions
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Liabilities & Matching Strategies: Modelling realities
Con Keating identifies some key problems in asset-liability modelling and liability-driven investment based on mixed-attribute accounting
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Liabilities & Matching Strategies: All the King’s men
Rodrigo Olivares-Caminal untangles the issues for pension funds that find themselves creditors of a sovereign in default
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Sovereign cycles: a return to the norm?
The absence of a sovereign debt crisis between 2003 and 2008 was part of the historical cycle, not a new paradigm, writes Scott B MacDonald. Bond-biased investors should prepare for the inevitable return of the painful part of that cycle
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ESG risk in a portfolio context
Nina Röhrbein reports on research into the implications that a ESG strategy can have upon asset allocation
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Lukewarm on weather derivatives
Nina Röhrbein reports on whether investors are turning to weather derivatives as a means of assuaging climate change concerns
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De-risking drives competition
Iain Morse reports from a cost-conscious UK custody market as trustees aim to comprehend, and lower, their risk exposure
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Europe's Pension Consultants: One-stop shop
Trustees now have various opportunities to delegate some investment decision-making. Gill Wadsworth asks whether fiduciary management is a better bet than implemented consulting
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Special ReportEurope's Pension Consultants: Rapid change
Twin trends of consolidation and thriving specialist boutiques coincide with an urgent debate about the role of advisers and ownership of responsibility within the pensions governance complex. Martin Steward looks at optimising the cooks-to-broth ratio
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Special ReportRisk Management: Multi-stakeholder
Bart Oldenkamp and Herman Bril argue that strategic risk management is the most important policy tool for defined benefit pension funds
