Top news
COVID-19 roundup: From corona bond calls to Basel III deferrals
A roundup of select COVID-19-related policy and market developments that have emerged this week
CEO of Swiss railways pension fund resigns
Markus Hübscher has led Pensionskasse SBB since November 2009
Aon: Alternatives, ESG integration struggling for DC foothold
Consultancy finds surprising and ‘underwhelming’ results in DC survey
VER: Crisis shows need to prepare for wide range of threats
Newly-returned CEO of Finnish State Pension Fund says each crisis is also an opportunity
Compenswiss fit for COVID-19 turmoil but cautious on long-term effects
‘You are never sufficiently prepared for unexpected crises’
Danica slapped with FSA orders to correct procedures
Danske Bank subsidiary told to improve continuous value assessments of alternatives portfolio
SEC blocks Church climate proposal for Exxon AGM again
The proposal requested Exxon to issue a report describing its plans to reduce its total contribution to climate change
Climate risk think tank develops COVID-19 stress test scenarios
To its knowledge they are the first stress-test scenarios for the pandemic
AP1 trailblazes as first Swedish pension fund to divest all fossil fuels
Transition to low-carbon economy can imply higher climate-related financial risk, fund judges
Click here for the Digital edition of IPE magazine
Briefing: Europe turns Japanese
Despite the more immediate concerns of the COVID-19 pandemic, the spectre of ‘Japanisation ’ casts a dark shadow over euro-zone investment markets. It is possible that the current crisis will supercharge the pre-existing trend for Europe to follow Japan’s economic and financial experiences.
Briefing: A safe haven
Treasuries, the yen, and gold all traditionally serve to harbour investors in times of stress. A closer look at the current demand for Treasuries, however, paints a complex world view with implications for financial markets. Yields suggest it might remain ugly for another decade.
Geopolitical risk: The new norm
Geopolitical risk is now the norm and not the exception, and brings with it a rise in volatility,” says Joyce Chang, chair of global research at JP Morgan, adding: “This volatility has tended to create more noise than trend.”
Knowns and unknowns
“There are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns – the ones we don’t know we don’t know.” Donald Rumsfeld, former US secretary of defence, February 2002
Be prepared for the future
As 2019 came to an end, there were a number of risks that investors around the world would have to watch out for – Brexit negotiations, the US election, the trade war between China and the US – but nobody could have guessed that the COVID-19 pandemic was to come.
Radical Uncertainty: Embracing what you don’t know
Within the terms of their own analysis, the authors of Radical Uncertainty might be remembered for a prescience they could neither possess nor aspire to. Published as the full scale of the coronavirus outbreak was becoming apparent in early March, the events that their book cannot describe still serve to underline its central points.
Guest Viewpoint: Steve Waygood
History may well look back on 2019 as the year the world finally woke up to the threats posed by climate change. Yet, with the negotiation failures that occurred at the 2019 United Nations Climate Change Conference in Madrid (COP25), the year ended on a significant downer.
Long Term Matters: Investing in an age of pandemics
Pandemics are master classes in managing existential uncertainty. Being overwhelmed is ‘normal’. Here are seven actions that we can take as citizens and investment professionals. The focus is on the US and the UK: their governments are floundering. The unravelling in the US is dangerous for investors. Both the UK and the US are very responsive to the financial sector.
Viewpoint: Bond Yields Will Rise, But When?
U.S. bond yields have been declining for four decades; why would the next decade be any different? - Jim Caron, Morgan Stanley Investment Management, explains
Long-term matters: Investing in an age of pandemics
Pandemics are master classes in managing existential uncertainty. Being overwhelmed is ‘normal’.
Guest Viewpoint: Gregg McClymont
If the purpose of a pension system is to deliver a stable income in retirement, then the UK, strictly speaking, is on a path to leaving pensions behind.
Fixed Income - European investment grade: No sign of end for negative yields
Negative interest rates look set for a lengthy run in Europe, raising concerns about the long-term effects
Private Equity: Finding the right metric
It is hard to compare the performance of private equity investments
Emerging Market Debt - Global View: A mixed picture
Although emerging markets are in aggregate enjoying structural improvements, there are stark differences between regions
Credit: In the eye of the storm
What are the prospects for the credit markets as central bank turn dovish and economic activity slows down?
Small & mid-cap equities: Public or private markets?
Public markets are shrinking while private markets are attracting huge amounts of capital. But it is still not clear which is the better bet
