Latest news
Four-fifths of DC members in UK opt for default fundsSubscription
NAPF annual survey finds wide range of annual management charges used by DC funds
Nearly 40 Dutch pension funds to cut rights next year – Aon HewittSubscription
To avoid cuts, pension funds must have funding of at least 104.3% by year-end
Lithuanian pension funds 'surprised' by contribution increasesSubscription
Significant number of participants prove willing to make extra second-pillar contributions
IPE Views: Liboring under false pretencesSubscription
The Libor and Euribor fines expose not only the importance of engagement, but also the cost of inaction for pension funds
Telefónica reconsiders illiquid alternatives in light of ageing membershipSubscription
Spanish pension fund opting for alternative beta investments over further hedge fund, private equity commitments
Vervoer to launch working group on illiquid assets next yearSubscription
Dutch fund backed by Ilmarienen on selective approach to European equities as UMR Corem remains bullish on French shares
Wednesday people roundupSubscription
Länsförsäkringar, AP3, Schroders, Pioneer Investments, Mirae Asset Global Investments Group, M&G Investments, State Street Global Advisors, ING Investment Management International, Oddo Asset Management, Altius Associates, Alceda, Trinity Street Asset Management, Carbon Tracker Initiative
UK insurance industry commits £25bn to domestic infrastructureSubscription
Announcement comes as NAPF confirms final negotiations underway for manager to oversee infrastructure fund
Dutch state secretary calls for 'tailor-made' pensions communicationSubscription
Communications should match participants’ unique needs, characteristics
Summer 2014 launch expected for investor forum inspired by Kay ReviewSubscription
Working group formed in response to Kay Review supported by ABI, IMA and NAPF
German foundations weathering financial crisis well, survey showsSubscription
Nearly 40% of respondents manage to maintain investment income in 2012
APG targets London housing via shopping mall overhaulSubscription
Joint venture with Delancey to turn Elephant & Castle centre into homes for rent
Digital Edition
Registered users are entitled to the first digital issue of IPE with the compliments of the IPE.com team.
Low fashion, high durabilitySubscription
As Thornburg Investment Management’s fourth employee, Brian McMahon arrived in Santa Fe in 1984 around the same time as the firm acquired a second-hand fax machine from the unsuccessful presidential campaign of Walter Mondale.
Castilian disciplineSubscription
Nina Röhrbein asked Jaime Martinez-Gómez about the governance, risk and portfolio strategies of Fonditel, the manager of Telefonica’s Spanish pension fund
Great expectationsSubscription
What is your outlook for 2014?
Active and proudSubscription
Most re-brands come across as pretty superficial affairs.
A new chapterSubscription
Martin Steward speaks to Cecila Thomasson Blomquist at PP Pension, whose DB business relies on dynamic asset allocation around a solid real estate core, and whose DC business is undergoing major changes
Time to pool resourcesSubscription
Leen Preesman asks the CEOs of PGGM and PKA about their co-operation plans and about the development of supplementary pensions in Europe
Public sector challenges Subscription
Gail Moss speaks to Eva Kiwit of EAPSPI, the voice of public pensions at European level
Sky-high yieldSubscription
Paul Read acknowledges that further capital appreciation in high yield is unlikely, and argues that good bottom-up analysis is now crucial for capital preservation and decent returns
Risk management under the AIFMDSubscription
Kai Braun and Désirée Springmann describe the major changes ahead for private equity and real estate fund managers
Command, control and organisationSubscription
IPE Views: Liboring under false pretencesSubscription
The Libor and Euribor fines expose not only the importance of engagement, but also the cost of inaction for pension funds
More bucketsSubscription
Last month, for the first time, we experimented with a new approach to our monthly international strategy meeting. Video conferencing.
Matthew Kiernan, Inflection Point Capital Man. & Paul Clements-Hunt, The Blended Capital Group:“Investors who fail to develop systematically aware investment processes risk commercial extinction”Subscription
There is no shortage of high-wattage brainpower directed to the promotion of longer-term finance and investing.
Mark to mythSubscription
These days, information is everywhere.
Elizabeth Corley: “Drawing on behavioural science, we should be thinking more holistically about income lifecycles”Subscription
For everyone managing pension funds, or their investments, or indeed managing our own retirement planning, one of the greatest challenges is to maintain a focus on achieving long-term strategic goals amid the constant buffeting of contradictory news and the distraction of more pressing concerns.
ESG 2.0 – let’s get seriousSubscription
The responsible investment community has done something very important. It has raised awareness that institutional investors who define their job as beating the peer group benchmark are being irresponsible – stewardship responsibilities for the long term are now on the agenda. But the current trading-oriented model of investment is impossible to align with these responsibilities.
Variable solutionsSubscription
Europe is moving slowly and deliberately away from defined benefit pensions to approaches that, if well considered, might prove a sustainable model for workplace retirement provision.
Haggling with the hedge fundsSubscription
For this month’s Focus Group Survey, we asked 19 readers about hedge funds.
The fiduciary fightSubscription
Should trustees feel constrained by the existing interpretation of their fiduciary duties?
Expect more scrutiny on systemic relevanceSubscription
A transformation is taking place in the five-year performance track records of countless investment funds and strategies as this year fades out and the impact of the market collapse of late 2008 is erased.
The UK fiduciary duty straitjacketSubscription
Should trustees consider environmental concerns, or even more widespread systemic issues, when investing on behalf of their beneficiaries?
Hedge Funds: Not such black boxesSubscription
David Turner looks at how transparency has improved in the hedge fund world, and what pension funds are doing to adapt to all the new information
Hedge Funds: Small is beautiful, againSubscription
Joseph Mariathasan and Martin Steward note that smaller hedge funds are enjoying significant new inflows for the first time since the financial crisis. Where is the money coming from?
Hedge Funds: Bottom-up on the upSubscription
Changes in market behaviour have created an alpha-rich environment that is great for stockpickers and dangerous for market-timers, write Joseph Mariathasan and Martin Steward
Hedge Funds: Not just a lion at the gateSubscription
Liongate Capital Management understood from day one that hedge fund investing was more what you know than who you know. Ten years later, Martin Steward reports on how this became the institutional mainstream – and where it is going next
Hedge Funds: “We ask investors what they like”Subscription
After almost 10 years of talking to hedge fund managers, this is a first. Erich Schlaikjer, co-founder of the Cambridge, UK-based systematic managed futures specialist Cantab Capital, is showing me what his firm’s trading and research systems can do.
Real estate
PensionDanmark to buy 49% stake in UK wind farmsSubscription
Deal comes as part of infrastructure strategy targeting inflation-linked returns
Norwegian oil fund buys stake in Regent Street building Subscription
Government Pension Fund Global buys 25% stake in Quadrant 3 from Crown Estate
Telefónica reconsiders illiquid alternatives in light of ageing membershipSubscription
Spanish pension fund opting for alternative beta investments over further hedge fund, private equity commitments
APG targets London housing via shopping mall overhaulSubscription
Joint venture with Delancey to turn Elephant & Castle centre into homes for rent
Germany's WPV restructures portfolio to focus on real assetsSubscription
Pension fund for accountants moves to strengthen in-house staff
