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Westminster, London

Law Commission outlines new social investment rules for UK charities

Mon, 29 Sep 2014By Gail Moss

Recommends rules to clarify powers and duties of charities and foundations in making social investments

City of London

UK roundup: HSBC Pension Scheme, Fidelity, UK Treasury

Mon, 29 Sep 2014By IPE Staff

HSBC UK Pension Scheme shifts DC plan to Fidelity as HSBC Life undergoes sale

City of London

UK occupational pension members increase for first time since recession

Mon, 29 Sep 2014By Gail Moss

Active membership rises slightly following slow but steady decline since 1991, according to Office for National Statistics

The Dáil, Ireland's Parliament, in Dublin

Reformed Irish SWF could still be used to pre-fund pension liabilities

Mon, 29 Sep 2014By ,

John Corrigan, head of the NTMA, will ‘not discount’ possibility of ISIF paying state’s pension bill

Newport Beach, California

PIMCO makes swift CIO appointment after Gross departure

Mon, 29 Sep 2014By

Daniel Ivascyn elected CIO with three-man teams to lead Unconstrained Bond Fund, Total Return Fund

Bill Gross

Shock exit of PIMCO founder Bill Gross sets markets achatter [updated]

Fri, 26 Sep 2014By Gail Moss,

Fixed income legend looks forward to returning ‘full focus’ to fixed income markets, giving up ‘complexities that go with managing large, complicated organisation’

Handshake

Friday people roundup

Fri, 26 Sep 2014By IPE Staff

Ilmarinen, Liontrust Asset Management, Deutsche AWM, Towers Watson, Alliance Trust

The European Commission

Shareholder Rights Directive could have 'unintended consequences'

Fri, 26 Sep 2014By

PensionsEurope rejects notion that proposals to disclose terms of fund management agreements will encourage long-term investment

Forests in Finland

Dutch giant PFZW vows to quadruple sustainable investments

Fri, 26 Sep 2014By

Healthcare pension fund seeks to halve carbon footprint within next five years

Office buildings in Oslo, Norway

Head of Norwegian oil fund reveals personal shareholdings after criticism

Fri, 26 Sep 2014By

Norges Bank Investment Management says comprehensive guidelines for staff remove all doubt

Ireland

Support for Irish pensions reform will fail as long as levy remains, says IAPF

Fri, 26 Sep 2014By

Pension fund association calls on government to launch working group for wide-ranging debate on regulation

Timo Ritakallio

​Finland's Ilmarinen promotes CIO to chief executive

Fri, 26 Sep 2014By IPE Staff

 Ritakallio takes reins at pensions mutual after Harri Sailas announces retirement next spring

All More News

Three years of the 300

October 2014 (Magazine)By Liam Kennedy

Liam Kennedy spoke to Alan Brown and Saker Nusseibeh, two architects of the 300 Club of investment professionals who seek to challenge mainstream investment practice

Prudent and dynamic

October 2014 (Magazine)By

How We Run Our MoneyMiguel Branco, deputy director of Banco de Portugal pension fund, tells Carlo Svaluto Moreolo about his fund’s investment and risk strategy

Time for some caution with this asset class

October 2014 (Magazine)By

How do you invest in high-yield bonds and loans?

Experience, leveraged

October 2014 (Magazine)By Joseph Mariathasan

Babson Capital immediately springs to mind for institutional investors around the world seeking global fixed-income managers, but that is a key goal for CEO Tom Finke. Having raised $5bn (€3.9bn) from European investors alone in 2013 it certainly looks well-positioned to one day be ranked among the market leaders. 

Nobody's fool

September 2014 (Magazine)By Christopher O’Dea

Strategically Speaking - Greenlight Capital

All Interviews

Dangerous liquidity

October 2014 (Magazine)By Emma Cusworth

Following another summer of high-yield bond market volatility, Emma Cusworth asks whether ETFs are to blame for credit markets getting riskier

Race for solutions picks up pace

October 2014 (Magazine)By

Incumbent managers have a natural advantage with mature pension funds in the provision of solution-type services, finds Pádraig Floyd

Burying IFRS Stateside

September 2014 (Magazine)By Stephen Bouvier

For more than a decade, international accountants have dreamed of a single set of global accounting standards. But the failure of standard setters on both sides of the Atlantic to agree on a common treatment for bad-debt provisioning by banks leaves the world facing a multi-GAAP environment for at least a generation, writes Stephen Bouvier

Risk-sharing professionals

September 2014 (Magazine)By Gail Moss

Gail Moss compares how self-employed professionals are served by specialist collective DC pension funds in three European countries

All Briefings

Diary of an Investor: A happy median

October 2014 (Magazine)By Pieter Mullen

A couple of weeks ago, my old friend Pim came over to the Wasserdicht offices in Utrecht to tell me about his new proposition. I’ve known Pim for many years and he has pitched to me many times, although each pitch has been from a different company.

“Governance can serve as a stimulus to improve and nurture pension organisations”

October 2014 (Magazine)By

Once a year, the US professional basketball league organises its all-star competition. Players from teams across the country are selected as the best in their respective positions. Could we have an all-star pension industry, uniting the best standards and practices under one roof?

Crony capitalism

October 2014 (Magazine)By Raj Thamotheram

The public gets it. Academics and financial analysts get it. In fact, many experts say it is the most important governance and democracy issue of our time. So why do investors have so little to say about political donations and the corporate capture of politics?

Time for a debate

September 2014 (Magazine)By Pieter Mullen

This autumn our government is orchestrating what it calls a ‘national debate’ on the future of our Dutch pension system. We at Wasserdicht Nederland have always taken a prudent approach to our pension schemes and we have remained well funded. Unlike many other Dutch funds, we have not had to implement benefits cuts – something I hope our members appreciate.

“The best CDC design is collective implementation with clear ownership rights”

September 2014 (Magazine)

Designing a robust retirement income solution is not easy – as with most complex issues, there are no silver bullets, only trade-offs. The challenge is to balance life-long retirement income stability with financial risk-taking, all within a framework that is understandable, transparent and fair and hence can be trusted by members.

Learning disabilities

September 2014 (Magazine)By Raj Thamotheram

Who would invest in a sector that has lagged the Stoxx 600 by 1.1% in overall growth and by 0.3% in EPS growth for the last 19 years on an annual basis?

All Columns

The ‘what’ and ‘why’ of costs

October 2014 (Magazine)By Liam Kennedy

Controversies around pension funds’ asset management costs in various countries tell us something about the mood of the times, but they also suggest that changes are needed in the way pension boards select and justify their strategy choices to members and the wider world.

The European Commission

IPE Views: Growth trumps regulation at the European Commission

Tue, 30 Sep 2014By

With commissioners-designate calling for ‘quick and effective adjustments’ to regulation and the end of ‘bottlenecks’, is the Brussels putting growth above regulation?

Divergence trades, depression trades

October 2014 (Magazine)By

“It’s one of our big themes,” said Kathleen Hughes, head of European institutional sales at Goldman Sachs Asset Management, talking about central bank policy divergence over meet-the-press drinks in early September, four hours after European Central Bank president Mario Draghi had taken the deposit rate further into negative territory and announced plans to purchase covered bonds and asset-backed securities. The euro had a terrible day; Goldman Sachs had a pretty good one.

No rush for auto enrolment

October 2014 (Magazine)By

As part of their commitment to turn around their economies, Spain and Portugal have tackled pension issues, both by reducing expenditure and by taking the first steps towards making retirement systems fairer and more efficient.

Pensions in the picture

October 2014 (Magazine)By IPE Staff

Just three years after Europe’s pension fund representative bodies were successful in their proposal to create a separate occupational pensions stakeholder group within the European Insurance and Occupational Pensions Authority (EIOPA) – under the previous CEIOPS committee of pension and insurance supervisors a single stakeholder group covered both sectors – there is now a proposal to merge the two stakeholder groups. Although this will have to be ratified by the European Parliament, ...

All Analysis and Opinion

High-yield Bonds & Loans: Revolution from above and below

October 2014 (Magazine)By Joseph Mariathasan,

Few markets outside the emerging world have changed to the extent that European high-yield has over recent years. Joseph Mariathasan and Martin Steward find transformation coming from the massive to the micro, from above and below

Emerging Market Debt: Bonds and the ballot box

September 2014 (Magazine)By Joseph Mariathasan

Amid a rash of important elections, the rumble of ongoing territorial disputes, a deteriorating situation in coup-plagued Thailand and an alarming rise in tensions between Hong Kong and Beijing, Joseph Mariathasan looks into the impact of political risk on Asia’s bond markets

High-yield Bonds & Loans: Lien and healthy?

October 2014 (Magazine)By Jennifer Bollen

Jennifer Bollen finds booming leverage markets bringing second-lien debt back into vogue in private equity deals – and in Europe, that can mean mezzanine-like risk 

High-yield Bonds & Loans: Covenants and calls

October 2014 (Magazine)By Joseph Mariathasan,

Joseph Mariathasan and Martin Steward ask whether investors’ traditional protections are getting squeezed out in the convergence of high yield bond and loan markets

Time for some caution with this asset class

October 2014 (Magazine)By

How do you invest in high-yield bonds and loans?

All Investing in...

Close-up of a 100-dollar bill

Dutch giant PMT to divest holdings in 'expensive' hedge funds

Fri, 19 Sep 2014By

Pension fund to drop €1bn hedge fund allocation in favour of investments in local residential mortgages

Manchester

Greater Manchester pension fund returns 7% despite hit on global bonds

Wed, 17 Sep 2014By

Fund shows strong returns from private equity, commits to further real estate and infrastructure exposure

Hamburg

German roundup: Nord/LB, KAS Bank

Mon, 15 Sep 2014By

Versorgungswerke help grow Nord/LB institutional asset management business

Helsinki, Finland

Partners Group buys out investors in Nordic Niam portfolio

Tue, 9 Sep 2014By

Finnish, Swedish portfolio bought for €300m, allowing Niam Fund III to wind up

The city of Glasgow

Strathclyde in debut deal for new Clydebuilt venture

Fri, 5 Sep 2014By

First investment for local opportunity fund launched by UK’s largest local authority pension scheme

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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

Bolt the penthouse door

July 2014 (Magazine)By

The apparent recovery in the UK and converging spreads in euro-zone bond markets mask deep structural flaws in economies that have seen little genuine reform, argues Eamonn Butler

Rates of change

June 2014 (Magazine)By

Carolyn Tavares argues that the roller-coaster start to 2014, with its disconnect between economic indicators and bond yields, makes the case for holding to strategic, funding level-based de-risking programmes

All Ahead of The Curve