All IPE articles in April 2015 (Magazine)
View all stories from this issue.
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Special Report
Convertible bonds: key lessons from 150 years of issuance
Beat Thoma outlines some of the key lessons from 150 years of convertible bond issuance
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Features
2014 Returns: Tomorrow’s returns today
Pension investors generally saw strong returns over the course of 2014 but for many it will be a one-off boost at the expense of growth in 2015.
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Features
Has active share already had its day?
Joseph Mezrich presents research suggesting the much-hyped ‘active share’ measure may have helped select good stock pickers only before 2004
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Features
Active share is no panacea
Andrea Frazzini, Jacques Friedman and Lukasz Pomorski question whether there is any evidence to show that active share predicts active managers’ relative performance
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Interviews
On the Record: How does regulation affect your activities?
This month three pension funds explain how the changing regulatory landscape affects their activities
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Country Report
German funds under pressure to review asset allocation
German pension funds must review their strategic asset allocation to avoid headwinds in the fixed-income market
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Features
Asset Allocation: The big picture
As the US economy continues to recover, the hour when the Fed starts to tighten is approaching
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Opinion Pieces
Viewpoint: Heribert Karch - German occupational pensions association
Heribert Karch addresses whether the German goverment will be able to introduce the pure defined contribution schemes outlined in its recent pension reform proposals
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Special Report
Convertible bond valuations remain attractive
Subdued volatility has taken the options within convertible bonds down to very attractive valuations
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Features
Germany & Austria: Is choice an option for scheme members?
The ongoing shift towards DC pensions and increased member options results in a culture of inertia
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Country ReportAustrian Provident Funds: The pensions challenger
Mandatory contributions mean Austrian provident funds are catching up with Pensionskassen both as institutional investors and in terms of business strategy
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Country Report
Occupational Pensions: Austria's unloved funds
Despite good long-term performance, few companies are making use of a multi-employer pension fund or indeed any form of occupational pension
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FeaturesAuto-protection: More than one way to skin a cat
This month, the UK defined contribution sector opens its doors to new freedoms
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Features
Dutch Regulation: Dutch central bank bares its teeth
It certainly set tongues wagging in the Dutch pensions industry – De Nederlandsche Bank (DNB), the financial regulator, declared Joanne de Graaff, a professional trustee, “unfit” for duty
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Special Report
Investors warm up to bank contingent convertible bonds
Investors have grown in confidence with bank contingent convertible bonds as their confidence in bank stability has risen
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Asset Class Reports
High Yield: Oil, banks and rates
Martin Steward finds the diversity of high yield reflected in three very different kinds of risk run behind similar-looking headline exposures
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Opinion Pieces
Letter from Brussels: Uphill battle for CMU
There is enthusiasm for the EU’s capital market union (CMU) project. However, it faces prodigious obstacles in achieving its 2019 deadline.
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Country Report
Interview: Prof Bert Rürup - A critical view on policy
Barbara Ottawa asked pension figurehead Prof Bert Rürup about pension reforms past and future
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Special Report
Convertible bond performance: Best of both worlds
The hybrid characteristics of convertible securities provide strategic benefits through economic cycles
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Special Report
'CoCos': bondholder's friends or foes?
There are complexities associated with banks’ contingent convertibles, or ’CoCos’, but this, combined with a more resilient, less systemically-linked industry, is a source of value
