All IPE articles in November 2010 (Magazine)
View all stories from this issue.
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Features
Tributes to Koen De Ryck
Koen De Ryck, who for many years ran Pragma Consulting in Brussels, passed away in September at the age of 66. During his long and distinguished career he was the Brussels representative for the European Federation for Retirement Provision (EFRP), and penned the 1996 report ‘European Pension Funds: Their impact ...
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Features
AP7’s Peter Norman hired in ministerial reshuffle
The appointment of Peter Norman, former head of AP7, as the Swedish minister for financial markets, replacing Mats Odell, caught both the political and financial sectors by surprise. Those in financial markets were surprised that the politicians managed to make an unusually savvy choice, while those in finance were surprised ...
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Features
AOW at 66 in 2020 still on cards
The Dutch minority government that came to power in October – led by the liberal party VVD and the Christian Democrats – has said it will continue the process of increasing the official retirement age for the largely pay-as-you-go state pension AOW from 65 to 66.
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Features
Risk-analysis wonderland
In its recently published exposure draft on pensions accounting, the International Accounting Standards Board (IASB) proposed that entities should present a sensitivity analysis to show how changes in key actuarial assumptions might reasonably be expected to affect:
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Features
Price risk protection
This month’s Off The Record survey focused on inflation. The vast majority of respondents (66%) believed that low inflation of less than 3% was likely in the next 12-18 months. A Dutch fund commented: “Currently, [we] do not see inflationary pressures to justify high inflation expectations. Furthermore, the European Central Bank’s monetary policy will be tilted to be more restrictive if and when an inflationary environment is anticipated.” A Danish fund added: “Economies are recovering slowly and at present only working at 70-75% of total production capacity”.
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FeaturesThe yin and yang of multi-boutiques
In the fourth article in a new series, Neeraj Sahai and Amin Rajan argue that boutique is a state of mind. Only savvy leaders can create it
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Country Report
The Nordic Region: Folketrygdfondet The quiet sibling
Pirkko Juntunen reports on Folketrygdfondet, which manages the Government Pension Fund Norway and the Government Bond Fund within tight regional constraints
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Features
Finns juggle political hot potato
The 2011 general election in Finland could mean the end of the Loppu system. Iain Morse reports
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Features
Fiduciary expands in UK
Towers Watson received important backing in October for its implemented consulting offering following its appointment to an expanded ‘delegated CIO’ brief by the £3bn (€3.5bn) UK Merchant Navy Officers’ Pension Fund (MNOPF). Terminology aside, this is a fiduciary management agreement and as such is the largest in the UK to ...
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Country Report
The Nordic Region: Funds seek to restore equity
Jan Willers outlines some of the key findings of a recent survey on Nordic institutional asset allocation and trends within equities
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Opinion Pieces
A private equity rethink
At the end of a tumultuous decade, US public pension funds are re-evaluating their relationship with private equity firms. Disappointing returns, high fees and a number of scandals are pushing pension fund managers either to quit investing in this asset class or to take more control themselves. But no solution ...
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Asset Class ReportsGlobal Equities: History lesson on risk
Real stock market returns reveal the true frequency of ‘once in a century’ crashes,says Paul Kaplan
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Opinion Pieces
EIOPA: Mixed feelings
The new European Insurance and Occupational Pensions Authority (EIOPA) opens its doors in 2011 with the prospect of greatly increased powers and a fivefold increase in staff in due course. EIOPA replaces the existing Committee of European Insurance and Occupational Pension (CEIOPS), which is one of the three ‘level three’ ...
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Features
German education funds a no-brainer
Germany has jumped on the bandwagon of education funds, with pension funds sensing an opportunity for uncorrelated returns above bond yields with an altruistic benefit. On average, a German student wanting to graduate from a private university needs €25-30,000, of which only a small proportion is covered by grants.
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Asset Class ReportsGlobal Equities: Towards true diversification
Yves Choueifaty, Tristan Froidure and Elizabeth Breaden wonder why the dynamic strategy implied by cap-weighted indices is regarded as ‘passive’ and posit their ‘anti benchmark’ portfolio as a true proxy for the equity risk premium
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Country ReportThe Nordic Region: Denmark Home front target
Rachel Fixsen investigates the pressures that Danish pension funds are facing to align their investments in support of the domestic economy
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Features
NAPF delegates meet the new government
The National Association of Pension Funds’ annual conference in Liverpool came at a time of uncertainty for British pensions: there was the announcement of a new Pension Protection Fund (PPF) levy; the release of Lord John Hutton’s report into public pensions; and Steve Webb’s assurance to the industry that auto-enrolment ...
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Country Report
The Nordic Region: Finland Gradual decline
Reeta Paakkinen outlines the local investment trend in Finnish pension investors’ portfolios
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Interviews
The lion that’s finding its courage
The nightmare for any fund management firm is losing key managers whose clients follow them out of the door. It can tear apart a firm’s credibility, leading to further fund outflows and a further loss of credibility – a ‘death spiral’ that can demolish once mighty firms.
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Special Report
SRI conquers non-equities territory
The emergence of new types of SRI strategy is a major factor in driving the market as Eurosif’s 2010 European SRI study highlights. Nina Röhrbein reports
