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’


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


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

Nobody's fool

September 2014 (Magazine)By Christopher O’Dea

Strategically Speaking - Greenlight Capital

Aisle four - asset management

September 2014 (Magazine)By

Steven Daniels (pictured), chief investment officer at Tesco Pension Investment, tells Taha Lokhandwala about his role as Tesco’s in-house asset manager

A balance of objectives

September 2014 (Magazine)By

What is your de-risking strategy?

All Interviews

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

Teenage years

September 2014 (Magazine)By

Fiona Reynolds faced a protest storm soon after coming on board at PRI as executive director. Jonathan Williams caught up with her 18 months into her job

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

All Briefings

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?

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.

All Columns

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?

New York City

IPE Views: UN Climate Summit – Political rhetoric versus investor action

Wed, 24 Sep 2014By

Despite coordinated lobbying from investors and rousing rhetoric from governments, Jonathan Williams assesses whether the UN Climate Summit achieved anything

Collective lessons from professionals

September 2014 (Magazine)By Liam Kennedy

Experience shows that the benefits of intergenerational solidarity and collective pension risk sharing are often not appreciated, particularly by those who feel they are shouldering a greater share of the burden than they ought.

I’ll have my bond; I will not hear thee speak

September 2014 (Magazine)By

The court scene from The Merchant of Venice dramatises the balance between justice and equity. Argentina’s conflict with its ‘holdout’ creditors, which led to default on its New York-law bonds, suggests that it ought to be required reading for sovereign debt investors.

The shore will turn the ship

September 2014 (Magazine)By

After five years of intense negotiations and acrimonious disputes, the Dutch have finally settled on a new financial framework (FTK), expected to take effect, at least in part, as of January 2015.

All Analysis and Opinion

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

Emerging Market Debt: Carry through the crises

September 2014 (Magazine)By

Navigating the switch from fundamentals-driven volatility to carry-driven calm in 2013-14 has been a challenge for emerging market debt managers, Martin Steward writes. The eruption of political crises simply adds to the complexity

Emerging Market Debt: Default judgement

September 2014 (Magazine)By

The US Supreme Court judgement that led to Argentina’s eighth debt default is an alarming precedent for both emerging and developed sovereigns, argues Rani Mina

Emerging Market Debt: Grade deflation

September 2014 (Magazine)By Joseph Mariathasan

Take out the 2008-09 crisis, and the past 18 months have seen emerging market credit rating downgrades outnumber upgrades for the first time in over a decade. Joseph Mariathasan  asks if the loss of momentum in ratings convergence is a sign of weakening fundamentals or a return to old prejudices

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


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


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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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

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

All Ahead of The Curve