Sections

City of London

Bulk annuity Britain: How the market will change

Wed, 23 Apr 2014By

After the recent changes announced in the UK Budget, how will the bulk annuity market change in future?

Stockholm, Sweden

Alecta joins disgruntled institutions in rejecting VW approach for Scania

Wed, 23 Apr 2014By

Third largest shareholder confirms decision to reject ‘undervalued’ offer after internal analysis

The Nyhavn district in Copenhagen, Denmark

Unipension sells 31 Danish properties in real estate strategy overhaul

Wed, 23 Apr 2014By

Buyer demand highest for residential, centrally located commercial real estate

Asia emerging market cash banknotes

Public reserve funds, SWFs to boost exposure to new markets, alternatives

Wed, 23 Apr 2014By

Institutions see challenges in increased portfolio diversity, State Street survey shows

Handshake

Wednesday people roundup

Wed, 23 Apr 2014By IPE Staff

State Street Global Advisors, Babson Capital, BlackRock, Hymans Robertson, AMP Capital, LCP, Affiliated Managers Group

landscape Berlin

German regional bank Nord LB joins financial sector scheme BVV

Wed, 23 Apr 2014By

Bank signs new employees up with Germany’s largest Pensionskasse

Oil platform

Shell schemes join forces with college on training of board members

Wed, 23 Apr 2014By

Pension plans seek to ‘set example’ on competence, governance

Stock market numbers

ABP backs calls for asset manager penalty clause

Tue, 22 Apr 2014By Gail Moss

Largest European pension fund says it should work with PFZW to agree contracts that penalise managers for underperformance

India

Dutch manager doubles stake in Indian hotel joint venture

Tue, 22 Apr 2014By Gail Moss

APG grows investment in Indian hotel chain, increasing stake to 13%

Ridderzaal, the Hague

ABP ignores own rules on nuclear investments, argues pressure group

Tue, 22 Apr 2014By

’Investments go beyond legal ones following Non-Proliferation Treaty’

Amsterdam, the Netherlands

Rising interest rates and falling inflation dent Unilever scheme's results

Tue, 22 Apr 2014By

Fund saw net result of 1.9% despite 8.7% return on investments, boosted largely by listed and private equity holdings

Pound notes

QinetiQ DB scheme sees funding boost after sponsor sells US arm

Tue, 22 Apr 2014By

Sale contribution to shave off a quarter of scheme’s deficit, made in addition to existing recovery plan

All More News

IORP+ii+In+depth+coverage+from+IPE+banner+Pensions++Europe+Black

Frankfurt, Germany

IORP II criticised as restrictive 'corset' by German association

Wed, 9 Apr 2014By

Association for German company schemes warns quantitative guidelines, akin to Solvency II, could still be introduced

Helsinki, Finland

Finnish pensions body slams IORP demand for benefits statement

Mon, 7 Apr 2014By

Requirement for statement to members puts pension funds at cost disadvantage to insurers, association says

Container port

Investors welcome greater transparency for infrastructure debt

Wed, 2 Apr 2014By

European Commission throws support behind number of proposals to encourage long-term financing

The European Commission

Denmark's F&P decries lack of capital requirements in IORP II Directive

Wed, 2 Apr 2014By

New prudential framework should create level playing field, pensions industry association says

All IORP II

Paying dividends?

April 2014 (Magazine)By

What is your current thinking on equity investment?

Sailing towards sustainability

April 2014 (Magazine)By

Antony Barker, of the UK Santander Group Pension Scheme, tells Jonathan Williams how his fund is on a path towards sustainability, and how property and consumer disposable income play a key role in the new asset allocation

Global expectations

April 2014 (Magazine)By John Calamos

“What makes businesses interesting is how they adapt to a global changing world,” declares John Calamos, founder, chairman, CEO and co-CIO of Calamos Investments. Having set up the firm in 1977, listed it on Nasdaq in 2004 and reached an AUM peak of $49bn (€36bn) in 2007, he is now overseeing a transformation that he intends will take it on a journey from a predominantly US focussed firm to a global fund management company.

Cautious, Swiss and international

April 2014 (Magazine)By Renaud de Planta

As an institutional manager and provider of institutional-type investment management services to private banks, including within its own group, Pictet Asset Management (PAM) clearly stands apart from the private banking fraternity.

Long-term relationships

March 2014 (Magazine)By

How do you use consultants?

All Interviews

Two sides to private equity

April 2014 (Magazine)By Anthony Harrington

A recent NBER working paper suggested that private equity delivered absolutely no risk-and-cost-adjusted return beyond what is available in public markets. Anthony Harrington takes a closer look at this surprising finding

Banking on emerging markets

April 2014 (Magazine)By David Turner

Financial services may be a less stretched way to get exposure to the emerging consumer, writes David Turner. But will stockpicking shield investors from these markets’ credit crunches?

Long tech, short toil

April 2014 (Magazine)By Bob Swarup

Bob Swarup likens today’s environment with the second industrial revolution and the six-year depression it unleashed, and advises investors to get on the right side of the current technological revolution

Time to pool resources

December 2013 (Magazine)By

Leen Preesman asks the CEOs of PGGM and PKA about their co-operation plans and about the development of supplementary pensions in Europe

All Briefings

Thomas Richter CEO BVI, Germany’s asset management association

April 2014 (Magazine)By Thomas Richter

“Auto enrolment would make sense in Germany and could develop through collective bargaining”

ESG lacks something

April 2014 (Magazine)By Raj Thamotheram

No, I haven’t had a damascene conversion to become an ESG critic. Rather, my argument is that the ESG (environment, social and governance) community needs to add another ‘E’, for economics.

DB, DC and all that

March 2014 (Magazine)By Pieter Mullen

Wasserdicht’s Dutch pension fund is one of the few that has maintained a strong solvency ratio throughout the crisis of the past few years.

Debbie Harrison Visiting professor The Pensions Institute, Cass Business School, UK

March 2014 (Magazine)By IPE Staff

“The most important factor that determines the outcome in DC pensions is the member charge, not the investment strategy”

Lessons from Davos

March 2014 (Magazine)By Raj Thamotheram

Who would have thought that Davos  would take over from the dormant Occupy movement on the issue on ‘inequality’? Or that five years after the crisis the financial sector would still be top of the WEF Global Risks register?

The twain shall meet

March 2014 (Magazine)By IPE Staff

The figures speak for themselves when it comes to the development of defined contribution (DC) pension assets. Defined benefit (DB) pensions accounted for over 60% of the total assets in Towers Watson’s annual Global Pension Asset Study 10 years ago but that share is now 53% and falling; the annual growth of DC assets was 8.8% over the past 10 years compared with 5% for DB assets.

All Columns

Beyond the glib view

April 2014 (Magazine)By

Credit rating agencies did not cover them- selves in glory in the financial crisis, particularly when it came to the rating of sub-prime credit instruments. While the main ones have taken steps to put their house in order, the EU has targeted the perceived mechanistic over-reliance of institutions on external ratings.

Three is a magic number

April 2014 (Magazine)By

Ever since US 10-year yields bounced off of a low of 1.4% in July 2012, the investing commentariat has been predicting the end of the bond bull market and sky-high levels for benchmark rates.

Engaging with the engine of Europe

April 2014 (Magazine)By

Of the nearly 270 signatories of the UN-backed Principles for Responsible Investment - which includes a pledge to be active, engaged shareholders - there are only six German pension funds. While the picture in neighbouring Austria, where only one fund has pledged allegiance, and Switzerland – with just three pension supporters – is comparably low, in terms of engagement, it is a matter of comparing apples with oranges.

Farmland, infrastructure and ESG

April 2014 (Magazine)By

At this year’s National Association of Pension Funds Investment Conference, delegates gathered in Edinburgh looking to bridge ideas and investment strategies for the future. Sessions on smart beta, liability-driven investing (LDI) and multi-asset solutions were popular.

Minister courts schemes on PIP

April 2014 (Magazine)By

Danny Alexander, a senior Treasury minister in the UK government, has called on pension funds to invest more in infrastructure.

All Analysis and Opinion

City of London

Bulk annuity Britain: How the market will change

Wed, 23 Apr 2014By

After the recent changes announced in the UK Budget, how will the bulk annuity market change in future?

The Nyhavn district in Copenhagen, Denmark

Unipension sells 31 Danish properties in real estate strategy overhaul

Wed, 23 Apr 2014By

Buyer demand highest for residential, centrally located commercial real estate

landscape Berlin

German regional bank Nord LB joins financial sector scheme BVV

Wed, 23 Apr 2014By

Bank signs new employees up with Germany’s largest Pensionskasse

India

Dutch manager doubles stake in Indian hotel joint venture

Tue, 22 Apr 2014By Gail Moss

APG grows investment in Indian hotel chain, increasing stake to 13%

Santander

Santander scheme targets disposable income in leisure property deals

Tue, 15 Apr 2014By

Head of pensions at banking group outlines scheme’s interest in distressed situations where property values can be realised over a decade

IPE-QUEST

Your first step in manager selection...

IPE-Quest is a manager search facility that connects institutional investors and asset managers.

  • QN1405 - Senior Infrastructure Debt

    Asset class: Senior Infrastructure Debt.
    Asset region: - OECD excluding Latin America and Far East Asia (including Australia) - Australia < 25%..
    Size: $500m +.
    Closing date: 30 Apr 2014.

Begin Your Search Here

Handshake

Wednesday people roundup

Wed, 23 Apr 2014By IPE Staff

State Street Global Advisors, Babson Capital, BlackRock, Hymans Robertson, AMP Capital, LCP, Affiliated Managers Group

All People News

Favour Europe and the euro

April 2014 (Magazine)By Lorenzo Naranjo and Carmen Stefanescu

Lorenzo Naranjo and Carmen Stefanescu argue that balance of payments and current accounts suggest Europe is strengthening while China weakens

Cutting a tranche of yield

March 2014 (Magazine)By Geoffrey Randells

The current levels of default risk and the ability to tailor exposures to portfolio requirements make CLOs and CDOs potentially attractive for pension funds, writes Geoffrey Randells

Back to the future

February 2014 (Magazine)By Théodore Economou

Pension fund boards and their investment teams should form a new partnership to promote flexibility in strategy, argues Théodore Economou

Federal Reserve

Retaining interest

January 2014 (Magazine)By Torsten von Bartenwerffer

Torsten von Bartenwerffer points out that rising rates do not necessarily mean losses in fixed income, and argues for smarter long-only strategies rather than market-timing or long/short approaches

All Ahead of The Curve