All IPE articles in February 2015 (Magazine)
View all stories from this issue.
-
Features
On the verge of reform?
Is Ireland finally addressing its low pension coverage and demographic issues?
-
Opinion Pieces
Long-term Matters: Taxing questions
Tax wasn’t a material issue for ESG – let alone traditional – investors a few years ago, but now it is. So how did this happen and what does it tell us about other issues which are currently dismissed as non-material?
-
Features
Juncker needs you!
Pension funds, take note. Jean-Claude Juncker, European Commission president, wants your money to invest in a laundry list of up to 2,000 projects.
-
Country Report
Pensions In Ireland: Do the right thing
Jerry Moriarty welcomes the planned end to the pensions levy but calls for definite action on auto enrolment
-
Interviews
Strategically speaking: Thriving on independence
“Our life at AXA was very good,” concedes Ardian’s Vincent Gombault, one year since the private equity firm completed its management buyout of a 52% stake from the insurance giant.
-
Country Report
Pensions In Ireland: The illusion of power
Recent court rulings have given the impression that trustees are set to wield greater powers when negotiating with sponsors over deficits. But despite a notable victory, Jonathan Williams finds the power might be an illusion
-
FeaturesHow we run our money: Lancashire Pension Fund
Carlo Svaluto Moreolo asks Mike Jensen (pictured), CIO of the UK’s Lancashire Pension Fund, about the fund’s pooling venture and the need for better liability management in British local government pensions
-
Features
Focus Group:Up in smoke?
Thirteen of the funds polled for this month’s Focus Group have formally discussed portfolio carbon or fossil fuel exposure, and 10 of those are signatories to at least one pledge or set of principles covering fossil fuel, carbon emissions or other environmental issues.
-
Features
UK pension funds face inflation risk
Given current forecasts, Andrew Brigden argues that the UK faces a huge shortage of inflation-linked bonds
-
Features
Hedge funds: PFZW decision highlights divergent thinking
When Europe’s second-largest pension fund drops hedge funds and announces its new investment strategy will place greater emphasis on intelligibility, the industry takes note.
-
Interviews
On the Record: How do you deal with underperformance?
Underperformance is acceptable up to a point
-
Country ReportPensions In Ireland: Towards a DC future
At its first meeting of 2015, the Irish Cabinet discussed the introduction of a “new, universal supplementary pension savings scheme”. The plan was presented by Joan Burton, deputy prime minister and minister for social protection.
-
Opinion Pieces
Letter from the US: A model for future cuts?
The pension industry is concerned with the consequences of a bipartisan amendment to the $1.1trn (€924 bn) ominbus spending bill that Congress approved in December. This cuts benefits for multi-employer plan members and experts are now debating whether it is a model for further cuts across the industry.
-
Asset Class Reports
Investing In Investment Grade Credit: A widening spread
Joseph Mariathasan finds that the divergence of USD and EUR corporate bond performance tells us a lot about how badly Europe’s economy is lagging that of the US
-
Asset Class Reports
Investing In Investment Grade Credit: Problem solving
Forthcoming solvency rules led many insurers away from equities towards corporate bonds just in time to dodge the financial crisis. With yields low and spreads tight, but the Solvency II ghost still at the feast, Joseph Mariathasan looks at what they are doing now
-
Asset Class Reports
Investing In Investment Grade Credit : Improved credit rating?
The financial crisis threw the spotlight on rating agencies. In particular, the failures in sub-prime asset-backed securities (ABS) that were seen as the catalyst that unleashed the global maelstrom of 2007-09 called into question their methodologies for rating structured products.
-
Asset Class Reports
Investing In Investment Grade Credit: Too much reliance on quick and dirty signals
Ratings agencies were given far too much authority in the era of de-regulation in order to encourage more cross-border and non-professional investment, argue Paolo Di Caro and Belmiro Oliveira. Removing their judgements from financial regulation is a belated recognition of the damage that was caused
-
Asset Class Reports
Investing In Investment Grade Credit: New year’s resolution
The end of the de-leveraging cycle could signal a comeback for senior debt issuance in 2015. But Charlotte Moore identifies the new ‘TLAC’ regulation as the truly significant factor for the long-term shape of bank capitaL
-
Asset Class Reports
Investment Grade Credit: Securing liquidity
Banks may no longer be able to make markets in non-Volcker-compliant CLOs. We look at what this means and why it could be a particular problem for European structures
