Latest Special Reports – Page 79
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Special ReportSmart beta: A genuine revolution
Remember 130/30 funds? Most investment journalists do, because they delivered one of those periodic lessons in a major peril of their profession – getting caught up with next hot product
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Smart beta: Blurring the lines
The smart-beta or factor revolution is breaking down the boundaries between active and passive management. But Brendan Maton finds this introducing as many new questions as solutions
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Smart beta: A match made in smart-beta heaven?
Combining fundamental indexation and minimum variance appears to smooth out the bumpy ride usually associated with harvesting the value-risk premium, finds Charlotte Moore
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Smart beta: Collecting the premiums
Martin Steward spoke to Denmark’s PKA about its pioneering approach to extracting risk and return from equity markets – and beyond
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Smart beta: Smart beta's Tower of Babel
Smart beta systematically introduces different risks than those contained in the market portfolio – and yet mandates are still generally benchmarked against the market. Brendan Maton writes about the urgent need for more suitable measures of risk and return
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Smart beta: A question of governance
Andrew Ang and Alfred Slager shared the stage at a recent seminar. Martin Steward reports on how the debate has moved from the ‘if’ questions to the ‘how’
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Smart beta: Every drop of return
Martin Stewardspoke to the Environment Agency Pension Fund, 2013 IPE Award winner for smart beta, about its adoption of diversity weighting, fundamental indexation and low-volatility strategies
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Special ReportThe smart beta family tree
The range of new forms of ‘beta’ can leave investors bewildered. Martin Steward’s illustrative taxonomy offers a flavour of how these solutions might be categorised and how they relate to one another, and lists the key research papers that first described each methodology.
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Europe’s Pension Consultants: Are fees wasted?
After a recent academic paper raised serious questions about consultants’ competence in manager selection, Gail Moss talks to the industry about the nuances of the research and the defence of their practices
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Europe’s Pension Consultants: Talking heads
IPE put some questions to pension consultants and fiduciary managers, here is a selection of their views
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Europe’s Pension Consultants: Shifting plates
Liam Kennedy questions Chris Ford about ideas, advice and implementation in a changing consulting industry
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Smart beta: Smart investing or smart trading?
There are limited ways to explain the excess returns that smart beta generates over the market portfolio. Martin Steward uncovers a world of contention over which are the most important
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Smart beta: The battle for the middle
Smart beta has succeeded because it can help solve not one but two important problems, writes Emma Cusworth. But investors need to be clear about which problem they are solving
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Smart beta: Lend to those that don't need it
Mike Story offers the case for taking the smart beta concept into the world of bonds
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Smart beta: Neither 'smart' nor 'beta'
John Velis offers the case against taking the smart beta concept into the world of bonds
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Smart beta: The nirvana of equity investing?
Low turnover, low fees, repeatable and testable rules and an avoidance of concentration in the biggest stocks make the smart beta idea compelling, concedes Matthew Beddall. But none of that can make a great-looking backtest into reality
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Corporate Governance: Springing into action
It has been two years since the so-called Shareholder Spring, which saw a large number of investors voting against company proposals. Nina Röhrbein asks whether the movement maintained momentum, and how corporate governance has developed as a result
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Corporate Governance: A little less conversation
List all of the fora, working groups, initiatives, statements of principles, codes and associations dedicated to pursuing better corporate governance and other sustainable business and investment goals, and you would think that this was a hive of world-changing activity.
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Corporate Governance: Cultural shift
The UK Stewardship Code, now three years old, was re-visited in the wake of an influential review of UK markets. But Mike Scott finds that there is still a long way to go before the spirit of the Code is embedded in asset management culture
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Corporate Governance: Of carrots and sticks
The executive remuneration debate has evolved considerably since 2012’s Shareholder Spring, writes Nina Röhrbein. But there is considerable disagreement on the right balance between regulation and a voluntary approach
