All Special Report articles – Page 101
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Special Report
Currency: Keep an eye on your weighting
The Big Mac index tells you nothing about your need to diet, but might help to value currencies. Matthew Craig looks at the more technical version, ‘PPP’
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Currency: Steering for safety
Has the financial crisis changed investor perceptions about safe havens? Christine Senior looks at the question in the FX context
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Currency: Common currency
Portfolio engineering with FX exposures would be much simpler if we could identify its beta. Martin Steward looks at the range of candidates
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Germany: Architect of its own fortune
Make-or-buy decisions are at the root of Gothaer Asset Management’s investment strategy, finds Nina Röhrbein
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Who governs the agenda?
The UK’s Stewardship Code leaves something to be desired. For example, what exactly is good stewardship? Nina Röhrbein reports
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Germany: Kandlbinder 2010
Till Entzian charts the consolidation trend in his annual review of the German Spezialfonds marketplace, during and after 2009’s year of asset recovery
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Securities Services: One-frastructure
Working with ATP, Citi has developed a single data management platform that can facilitate risk management across the life cycle of the investment process, says Nick Roe
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Securities Services: Clearing for take-off
Central clearing of OTC derivatives is supposed to increase transparency and reduce systemic risk. But Richard Hemming finds that pension funds might be among those counting the costs
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Securities Services: Regulatory arbitrage: herd mentality
Systemic wrisk has to be limited say industry bodies, inter-dealers, consultants, lawyers and those on the operational side of the OTC market. But they also say that, following the financial crisis, there have been changes in markets that are heading in the exact direction that the regulators would want. They ...
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Securities Services: Managed accounts: an efficient way to build hedge fund portfolios?
There has been a buzz around managed accounts for some time – but the problems with liquidity mismatches and outright fraud that bubbled up in 2008, and investors like CalPERS setting out plans to use them wherever they can, seem to have made the case even more airtight.
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Securities Services: Liabilities into assets
As large, maturing pension schemes turn to liability-driven investing, Benjie Fraser talks to Martin Steward about the opportunities available to custodians that can draw on broader institutional capacity and expertise
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Securities Services: Testing times ahead
With consolidation and growth expected in the European custody markets in the coming years, Luxembourg could be one of the biggest beneficiaries, says Iain Morse
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Securities Services: A matter of choice
Andrew Baker says the Alternative Investment Fund Managers Directive could restrict choice and impose some unreasonable burdens on depositaries
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Securities Services: Welcome to the dark side
Traders seeking maximum liquidity with minimum impact on the markets are turning to the dark arts, says Simmy Grewal
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Securities Services: Risk and return
The credit crisis has focused the minds of lenders on getting their risk-reward parameters right, as Susan Pike explains
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BP, investors’ blind spot
Has the need for dividends compromised the green credentials of pension funds when it comes to oil companies such as BP? Nina Röhrbein reports
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Garbage in, garbage out
Like all investment data and ratings, environmental, social and governance indicators need to be scrubbed clean and carefully analysed, writes Adam Seitchik
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Fiduciary/Delegation: Your faithful friend?
Liam Kennedy assesses the European market for fiduciary management. Where the earliest fiduciary contracts outsourced almost the entire value chain of pension management, more recent agreements centre on different levels of delegation, and managers are having to learn new tricks
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Fiduciary/Delegation: Topiary
Failed by the fund of funds industry, investors are beginning to plant, nurture and clip their hedge funds themselves, finds Martin Steward
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Fiduciary/Delegation: Competing advice
The obvious objection to pension funds bringing hedge fund selection in-house is the strain it puts on resources in the service of such a small part of the overall risk budget. The counter-argument, put by Andre Konstantinow, head of manager selection at the Barclays UK Retirement Fund, is that hedge ...