More comment – Page 32
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Opinion Pieces
Letter from the US: High fees but strong returns
Some US pension funds say they may be paying too much for their investments in private equity and are seeking different approaches
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Opinion Pieces
Guest Viewpoint: Avida International
“Fiduciary management has turned into a sophisticated exercise of managing increasingly complex investment value chains”
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Features
Transition problems
The travails of defined benefit pension schemes and insurers are well known as they seek to meet liabilities made in previous decades in today’s ultra-low-rate environment
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Features
Creative destruction is needed
The current vogue for optimism about the prospects for the developed economies is overdone. There may be a slight cyclical upturn but its significance is limited
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Features
A misunderstood shift
The system-level implications of shifting from defined benefit to defined contribution pensions systems could be dangerously misunderstood
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Opinion Pieces
Letter from Brussels: A warm reception for PEPP
In contrast to complaints that Brussels’s legislation burdens the financial sector, the European Commission may be gratified by the positive response to its flagship Capital Markets Union (CMU) programme.
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Opinion PiecesLetter from the US: Risk transfer hots up
With interest rates rising, the US pension risk transfer market is expected to grow substantially
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Opinion Pieces
Guest viewpoint: Francesco Briganti, EBWI Employee Benefits and Welfare Institute
It is widely known that EIOPA is studying the possibility of a new EU legal framework for a pan-European occupational defined contribution pension regime
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NewsJoseph Mariathasan: Strategy selection vs manager selection
Picking the right approach to global equities can prove more valuable to selecting managers
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Features
German pensions: A new not-quite revolution
The current reforms risk repeating some of the mistakes of the Riester plan. Devolving responsibility to social partners for creating new sector schemes risks passing the buck
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Features
Europe: The genie is out of the lamp
Times have changed since the Society for the German Language chose Alternativlos (without alternative) as its Unwort (literally ‘unword’ or ugliest word) of the year for 2010
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Features
Fiduciary managers need more competition
The review of the UK’s asset management market by the FCA may or may not result in tighter regulation of investment advice. But the regulator would do well to continue focusing on investment consulting firms that offer fiduciary management services
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Opinion Pieces
Letter from Brussels: Brexit and equivalence
Nothing could be clearer. For the financial sector, at least, there is nothing to fear from Brexit. All the UK has to do is to apply to the EU’s rules – the crucial term ‘equivalence’
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Features
Interview: Institutional Investors Group on Climate Change
Peter Damgaard Jensen tells Susanna Rust about the need to keep up the momentum on climate change and develop more green investment opportunities for institutional investors
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Opinion Pieces
Guest Viewpoint: Philip Shier - Society of Actuaries in Ireland
One of the objectives of the European Commission in the revision of the IORP Directive was to enhance the information provided to prospective members, members and beneficiaries of IORPs
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Opinion Pieces
Letter from the US: Further uncertainty
The US retirement industry faces uncertain times after the Department of Labor decided in March to delay by 60 days the implementation of the so-called fiduciary rule. But many companies have already executed the new rule, and will not go back
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NewsJoseph Mariathasan: The case for active in emerging markets
Volatility driven by currency and fund flows means EM investors should steer clear of passive
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Features
Victims or winners?
There is a live debate in the Netherlands with regard to the pensions (or lack of them) of the million-plus group of self-employed, or zzp’ers in Dutch
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Features
Tear down the Mexican wall
An unintended consequence of Donald Trump’s accession to the US presidency is a surge in Mexico’s profile among Europeans
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Features
Pension fund consolidation brings risk
Pension fund consolidation remains among the most significant trends in the UK and the Netherlands
