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Tower Bridge, London

London boroughs review joint management of pension funds

Wed, 30 Jul 2014By

Review to examine all areas of cooperaton, including joint management of £2.2bn in pension assets

India

Dutch giant APG moves into Indian infrastructure financing

Wed, 30 Jul 2014By

Joint venture with Piramal to provide up to $1bn of mezzanine debt

Martello tower, Dublin

Omega Pharma ruling sets 'high standard' for Irish sponsors to overcome

Wed, 30 Jul 2014By

High Court ruling to see threshold of ‘reasonable’ demand imposed on trustee requests for additional funding

Handshake

Wednesday people roundup

Wed, 30 Jul 2014By IPE Staff

DeAWM, Allianz GI, APG, Mercer, Nikko AM, AXA IM, Capital Group, Quantum Advisory, B&CE

A view of Zurich, Switzerland

​Head of investment at Mercer Switzerland to leave consultancy

Wed, 30 Jul 2014By

Mercer to promote senior investment consultant at Swiss office

Moscow, Russia

PFZW, APG 'closely monitoring' developments in Ukraine conflict

Tue, 29 Jul 2014By

Possible portfolio changes to depend on any further sanctions EU might apply, schemes say

Canary Wharf, London

UK roundup: TPR, bulk annuities, Aon Hewitt, LCP

Tue, 29 Jul 2014By IPE Staff

Regulator’s new DB funding code comes into force after publication in June

Ireland

Irish regulator publishes draft minimum standards for DB management

Tue, 29 Jul 2014By

Pensions Authority highlights importance of funding DB schemes above minimum funding level

Traditional houses of Amsterdam, Netherlands

Dutch giant APG appoints Bart Le Blanc to supervisory board

Tue, 29 Jul 2014By

Industry veteran currently senior partner at Andreas Capital Group in Luxembourg

Construction hats

Dutch pension fund BpfBouw to expand into local real estate

Tue, 29 Jul 2014By

Scheme for building industry also considering investments in care properties

Canterbury Cathedral

Church Pension Board reports 18.6% return on return-seeking pool

Tue, 29 Jul 2014By Gail Moss

Advisory group continues major review of policy recommendations on climate change, investment

James Dilworth

AGI's Dilworth to join Deutsche asset management business

Mon, 28 Jul 2014By IPE Staff

Chief executive at Allianz Global Investors replaces retiring head of active asset management

All More News

Success assured

July 2014 (Magazine)By

When Russell Büsst was coaxed from Amundi in 2011 to head Conning’s expansion into Europe, he had three objectives: break even and hit $10bn (€7.38bn) under management within three years; use the firm’s insurance-industry relationships as a platform to build the pan-European business; and balance property-and-casualty (P&C) with life-and-pensions (L&P) assets. 

My door is always open

July 2014 (Magazine)By

Alfredo Granata and Paola Muratorio tell Carlo Svaluto Moreolo about their fund’s drive to invest in the real economy and its openness to new ideas

The perfect match-up

July 2014 (Magazine)By

How do you use corporate bonds in your portfolio?

An artisan with solutions

June 2014 (Magazine)By

Where one still finds asset managers attached to banks, the former tend to be junior partners. Not so at William Blair, whose founder always had an ambition both to finance and invest in small growth companies from day one in 1935.

Counting on the krona

June 2014 (Magazine)By

Erik Callert, chief investment officer of SPP Livförsäkring, tells Jonathan Williams how an overhaul of its portfolio left it better equipped to deal with Solvency II

All Interviews

Time to come together

July 2014 (Magazine)By Gail Moss

M&A activity is expected to increase as the global economy recovers. Gail Moss looks at the implications for pension funds that sponsors and trustees should consider

What are the benefits?

June 2014 (Magazine)By Gail Moss

The European Commission unveiled its proposals for a uniform pension benefit statement this spring. The idea has had a mixed reception, as Gail Moss finds

So sue me

June 2014 (Magazine)By Stephen Bouvier

European institutional investors have been more reluctant to use the law to enforce their rights than their US counterparts. But recent actions suggest this might be about to change, writes Stephen Bouvier

Smaller firms, better mousetraps

June 2014 (Magazine)By Christopher O’Dea

While innovation can take place in companies of any size, smaller companies sometimes get the edge through fresh thinking and nimble structures. Christopher O’Dea finds that innovation opportunities are abundant both abroad and at home 

All Briefings

Time for a change

July 2014 (Magazine)By Pieter Mullen

Earlier this year, the investment team had a briefing from Rolf, the long-standing chairman of trustees of the Wasserdicht Pension Funds here in the Netherlands. Things are changing, at least in terms of our internal governance, and Rolf came along to tell us about it.

“Italian employees have great need of consistent additional pension coverage”

July 2014 (Magazine)By

Assets managed by pension funds in Italy equate to about 6% of its gross domestic product. In a country where the social security system provides an adequate level of coverage at retirement that would not be a concern. But in Italy, after all the recent reforms, this situation represents a relevant risk for both employees and employers. Benefits provided by the social security system have strongly decreased over the last 20 years and the retirement age raised considerably. 

Is divesting working?

July 2014 (Magazine)By Raj Thamotheram

OK, it  doesn’t work very well. We’re still on track for runaway climate change, according to Fatih Birol, chief economist of the International Energy Authority.

Look to the north

June 2014 (Magazine)By Pieter Mullen

In the Netherlands we are sensitive to environmental problems and are aware of our vulnerability as a low-lying nation to rising sea level. After all, you have to if a fifth of your land and a fifth of your people are below sea level. 

Bart Heenk, Managing director, Avida International

June 2014 (Magazine)

“A balanced scorecard enables trustees to monitor, assess and improve outsourced services”

M&A medicine

June 2014 (Magazine)By Raj Thamotheram

The debate about Pfizer’s proposed takeover of the UK’s AstraZeneca – which should have resolved itself by the time you read this – reminds us that there are some big unanswered questions relating to institutional investors and M&A activity.

All Columns

Time for trusteeship

July 2014 (Magazine)By

Senior staff at China Investment Corporation (CIC) are talking about investment governance these days, reflecting growing recognition of the importance of sound non-executive or supervisory board oversight for all kinds of entities, be they global companies, sovereign wealth entities or pension funds.

Bond managers are worryingly sanguine

July 2014 (Magazine)By

ECB president Mario Draghi unveiled his latest measures to arrest disinflation and rouse dormant corporate lending markets in June. Soon afterwards, big records started tumbling.

Put the trust back

July 2014 (Magazine)By

Italy is a self-perpetuating paradox. Structural and historical forces keep the country under constant pressure; yet they drive a search for innovation to solve long-lasting problems. The pension system is a perfect example. 

Pensions cart before the horse

July 2014 (Magazine)By IPE Staff

It may come a surprise that the UK, Europe’s leading pension market by assets, has been one of the least innovative in terms of benefit design – something the present government is keen to rectify.

What price opportunity?

July 2014 (Magazine)By

An overhaul of the Norwegian oil fund’s active management approach should free it from most of its current investment restrictions, according to a report co-authored by the former chief executive of the Canada Pension Plan Investment Board (CPPIB), David Denison.

All Analysis and Opinion

Developed Market Sovereign Bonds: From ruin to recovery

June 2014 (Magazine)By Joseph Mariathasan

Fundamentals, technicals and sentiment have come together to change the fortunes of peripheral euro-zone bonds. Joseph Mariathasan finds that, while these markets may never again be considered core, yield-hungry investors are happy to provide continuing support

Investment Grade Credit: Banks or supermarkets

July 2014 (Magazine)By Joseph Mariathasan

The world’s banks are cutting debt and repairing balance sheets. The world’s non-financial companies are gearing up to take risk. Joseph Mariathasan explores why the choice for bondholders is not as clear as it sounds

Investment Grade Credit: Any life in long-dated bonds

July 2014 (Magazine)By Joseph Mariathasan

A recent reform announcement could significantly reduce the UK’s annuity market. Joseph Mariathasanasks what the knock-on effect might be for long-dated sterling bonds

Investment Grade Credit: No bears threaten Goldilocks

July 2014 (Magazine)By David Turner

After the big spread-tightening, managers warn against the shortest maturities and talk up senior bank debt, bottom-up bond-picking and relative value basis trades David Turner explores opportunities in the euro-zone credit sweet spot

Investment Grade Credit: When the flows reverse

July 2014 (Magazine)By Charlotte Moore

Jittery investors at the top of markets and liquidity mis-matches within investment products could exacerbate the current lack of market-maker liquidity in corporate bonds. Charlotte Moore assesses the risk

All Investing in...

Paris, France

Caisse des Dépôts fund lures French institutions back into housing

Thu, 31 Jul 2014By

Domestic investors including ERAFP commit €515m to plug housing supply deficit

Gherkin IVG

London's Gherkin tower up for sale in wake of IVG receivership

Thu, 31 Jul 2014By

Savills, Deloitte marketing iconic building 30 St Mary Axe

Construction hats

Dutch pension fund BpfBouw to expand into local real estate

Tue, 29 Jul 2014By

Scheme for building industry also considering investments in care properties

Munich, Germany

LaSalle invests in Amsterdam for Bavarian pension fund BÄV

Mon, 28 Jul 2014By

Debut European deal for Bayerische Ärzteversorgung under €500m BVK mandate

Forests in Finland

Environment Agency Pension Fund drops currency hedge

Thu, 24 Jul 2014By

EAPF’s active fund on track to allocate 25% of assets to green economy

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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

Rates of change

May 2014 (Magazine)By Stephen Cohen

A multi-polar growth and monetary landscape will require a less constrained approach to fixed income, argues Stephen Cohen. Right now emerging markets look like an attractive prospect

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

All Ahead of The Curve