Sections

Finland

Ilmarinen appoints CIO to succeed Ritakallio

Fri, 19 Dec 2014By IPE Staff

Pension mutual hires former head of listed securities four years after departure for FIM Group

Forth rail bridge

Governance changes, regulatory action needed to grow infrastructure holdings, says OECD

Thu, 18 Dec 2014By

Think tank’s survey of sovereign and pension funds worth $7.8trn finds only 1% of allocated to asset class

A cold day in London

UK legacy schemes granted year to tackle problem of high fees

Thu, 18 Dec 2014By

Proposals put forward by Independent Project Board ’shockingly weak’, say critics

New York City

​Danish pension fund tenders $110m small cap equity mandate

Thu, 18 Dec 2014By IPE Staff

Scheme using consultancy Kirstein Finans in tender seeking active US equity manager

Lifeboat

PPF stands by duty of care demand on ABC valuations

Thu, 18 Dec 2014By

UK lifeboat fund publishes final levy determination documents, leaving structure agreed in October intact

Stock market numbers

ESMA critical of ‘unsatisfactory’ asset-backed security assessment

Thu, 18 Dec 2014By

Credit ratings agencies’ assessment of structured finance instruments unsatisfactory and must be improved

Big Ben and the Houses of Parliament, London

Pension funds warned over wait for UK Gilt real-yield improvement

Wed, 17 Dec 2014By

AXA IM says real-yields on UK Gilts not expected over 0.5% in long term due to supply, demand pressures

European Commission building

Brussels pledges to cut regulation to attract infrastructure capital

Wed, 17 Dec 2014By

Publication of 2015 Work Programme sees revised IORP Directive retained, emphasis on removal of regulatory hurdles to infrastructure investment

Geneva, Switzerland

Ortec designs 'consolidation module' for ABB schemes worldwide

Wed, 17 Dec 2014By

Swiss company creates ‘centre of excellence’ to increase governance over different plans, maintain ‘decentralisation’

Handshake

Wednesday people roundup

Wed, 17 Dec 2014By IPE Staff

EU Single Resolution Board, Aviva Investors, PGGM, EFG Asset Management, BNP Paribas, PineBridge, BlueBay, Tikehau

Gothenburg, Sweden

Nordic roundup: Skandia, Vattenfall, Unipension, Lærernes, OPF

Wed, 17 Dec 2014By

Skandia teams up with Vattenfall to invest SEK2bn in wind farms

Knights' Hall at Binnenhof in The Hague

Dutch Senate approves financial assessment framework for pensions

Wed, 17 Dec 2014By

Vote comes after state secretary Jetta Klijnsma makes concessions on discount rate

All More News

On The Record: CERN Pension Fund Switzerland, Théodore Economou, CEO

December 2014 (Magazine)By

As an investor, I focus on managing risk as well as return. Going forward, simply beating the index will no longer be enough, and that is why they will have to focus on risk-management in portfolio construction. At the same time, I believe it is important to look at the long-term cycle, as there is value added in identifying long-term risks and trends. 

On The Record: PUBLICA, Switzerland Stefan Beiner Head of asset management and deputy CEO

December 2014 (Magazine)By

The major concern remains the low interest rate environment. We do not believe rates will increase as fast as in other cycles. The valuation on fixed income in general is rich, and equities are also valued on the high side, depending on the region. It is really difficult to hide right now. I am not that optimistic for the mid-term future, and therefore our internal expected returns are quite low for the next three years.

All Interviews

Briefing: The force of member power

December 2014 (Magazine)By Gail Moss

IPE’s October Focus Group poll looked at the issue of engagement with members’ views. This month, we take the debate further by asking leading opinion formers how they see the issue of member power versus pension boards’ investment discretion. 

Briefing: Pensions Accounting, Back to basics

December 2014 (Magazine)By Stephen Bouvier

The International Accounting Standards Board has revealed plans to issue a due process document on the future of pensions accounting. Stephen Bouvier asks where this might lead

All Briefings

Every lesson helps

December 2014 (Magazine)By Raj Thamotheram, Aidan Ward

Here are 12 things arising from the Tesco accounting debacle that pension funds could deploy which would help prevent, or at least mitigate, similar implosions. This needs to be a two-way process. My questions are forward-looking and include some that investors can ask of asset managers.

Guest Viewpoint: “Asset owners and managers need to address the problems in the investment industry and focus on value for the ultimate beneficiaries”

December 2014 (Magazine)By

We need to move on from today’s investment world, which essentially has been built by intermediaries for intermediaries. Their purposes have become too narrow and too self-centred to be of sustainable value to asset owners, who are charged with transporting and growing savings across time – affordably, securely and fairly.

All Columns

Vive la répartition

December 2014 (Magazine)By

While she might have abolished peculiarities such as yellow car headlights and the old-style caps of the gendarmerie, France’s pension system, based on répartition (redistribution), remains as distinct as ever.

I need a dollar

December 2014 (Magazine)By

Risk assets had a terrible time early in October. What was all the fuss about? Soft US retail sales data? Hardly. The geopolitical background? Unlikely. Weak numbers out of Germany and a lack of faith in the ECB? Jitteriness at the prospect of the Fed packing up QE? Quite possibly. 

All Analysis and Opinion

Investing In Global Equities: Multiple problems

November 2014 (Magazine)

Does the vast amount of central bank liquidity in the system help to make sense of current equity valuations, and should investors therefore be worried about the ‘punch bowl’ being taken away? Joseph Mariathasan tries to evaluate today’s valuations

Investing In Global Equities: Global rotation

November 2014 (Magazine)By

Martin Steward finds pure value and pure growth strategies starting to take the lead as the quality theme begins to run out of steam

All Investing in...

Copenhagen, Denmark

Denmark's PenSam doubles Copenhagen residential rental project

Mon, 22 Dec 2014By

Pension fund says investment reduces interest-rate sensitivity

Stock market numbers

Institutional investors to cut risk exposure with shift into value

Tue, 16 Dec 2014By

Survey of institutional investors shows control over potential rate rises, positive outlook for equities

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Asset Allocation: Ahead of the Curve, Europe is the new China

December 2014 (Magazine)By

George Saravelos sees ‘euroglut’ – and consequently one of the biggest capital outflows in history as excess savings flee aggressive ECB easing, sending the euro plunging against the dollar.

Asset Allocation - Ahead of the Curve: Contagion spreads

November 2014 (Magazine)By

Achilles Risvas assesses the potentially devastating knock-on effects of a fall in bond prices and a flight from credit

Post-crisis or pre-crisis?

October 2014 (Magazine)By

History warns us that the next crisis is just around the corner. Arturo Bris outlines the shapes it is taking and what we can do to mitigate it

No place like homes

September 2014 (Magazine)By

Christophe Caspar looks into whether or not European housing is a safe home for fixed income investors

All Ahead of The Curve