Healthcare investing: Get ready for the next pandemic
Guest viewpoint: The fault with the default setting for COVID mortality in standard tables
Strategically speaking interview: Redwheel’s new CEO
Credit: Investors cautious over Ukraine war
Fast and slow: Finland’s Veritas makes new additions to the portfolio construction toolbox
Country Report - Pensions in Germany & Austria
Special Report - Manager Selection
Top news
TPR calls on trustees to reduce covenant reliance
UK pensions regulator points to the importance of assessing how current market events are shaping the employer covenant
Geneva pension fund adopts net-zero goal in new RI charter
CPEG ‘raises its ambitions’ with regard to responsible investment
Study: 1e pension plan market set to exceed CHF10bn by 2026
Credit Suisse research estimates the potential for 1e pension plans to be around CHF65bn in terms of pension capital
EIOPA proposes new pensions info-gathering to close ‘important’ data gaps
Regulator says its capacity to analyse emerging risks is currently limited
Swiss private pension funds see funding ratios drop in Q1
The schemes recorded negative returns of -3.54% in Q1
Danica sees 15% shift into sustainable pension since Ukraine invasion
War in Ukraine has made a number of sustainability issues very concrete and current, says Danish pension provider
Actiam, Cardano encourage TNFD to focus more on outcomes
Investment houses see greater focus on dependencies in Taskforce’s first beta release
Alecta CIO: Alternatives expansion helped counter Q1 equity, bond decline
Swedish pensions giant reports 6.2% loss for DC pensions in first quarter, though monthly returns picked up in March
Swiss pension schemes see AUM increase
PK SBB’s total assets reach €19bn while CPEV sees AUM rise to €15.2bn
French investors drop Total climate disclosure shareholder proposal
Dutch pension funds may not increase risk during pension transition
NBIM gives seal of approval to IFRS sustainability standards draft
NEST, CEPB on board as UK transition plan taskforce launches
Rabobank to close CDC arrangement
Analysis: German Versorgungswerke's investment path to renewables
Swiss pension schemes post high returns with alternatives
Norway’s SWF loses 4.9% in Q1 but beats benchmark
‘Quality impact performance reports are transparent about lessons learned’
Sampension thanks cautious equities strategy for ‘best’ negative Q1 return
Cometa tenders 10 mandates following investment policy review
Large Dutch pension schemes edge closer to indexation
PFA reports 4.3% Q1 loss despite help from inflation hedging, property
IIGCC launches framework to ‘raise bar for investor climate stewardship’
Viewpoint: Why the UK Investment Bank must nurture nature
By Gavin Templeton, partner at Pollination
NEST, CEPB on board as UK transition plan taskforce launches
Taskforce to develop ‘the gold standard’ for climate transition plans as net-zero commitments abound
Strategically speaking interview: Redwheel’s new CEO
Last August, RWC Partner’s chief executive Dan Mannix left the company, and the head of business development, Tord Stallvik took over. Soon afterwards, the company rebranded as Redwheel – RWC was an acronym for Red Wheel Capital.
Fast and slow: Finland’s Veritas makes new additions to the portfolio construction toolbox
Kari Vatanen, chief investment officer of Finnish pensions insurer Veritas, tells Pirkko Juntunen about his views on diversification in a world where fundamentals are no longer the driver
Ukraine & Russia: War-proofing portfolios
Investors react to outbreak of hostilities and reflect on asset allocation in the months ahead
Strategically speaking - WTW: Democratising private markets
WTW’s ill-fated merger with Aon, announced at the outset of the pandemic in early March 2020, would have shaken up the corporate insurance brokerage market. It would also have created an outsourced CIO (OCIO) giant to compete with Mercer in terms of delegated assets under management (AUM).
How we run our money: Church Commissioners for England
Church Commissioners for England CIO, Tom Joy, tells Susanna Rust about the fund’s pursuit of genuine diversification and responsible investment.
Bernardino steps down from Portuguese securities market commission
Portuguese Finance Ministry will be in charge of naming a replacement
People moves: HSBC Bank pension fund names Hunt to new RI role
HSBC Bank Pension Trust (UK), CNAVPL, aba, AMF, SPV, Union Investment, Darwin Alternatives, AFII, BNPP AM, WTW
The case for an EU consolidated tape
Liquidity. Equality. Fragility. With apologies to the French Republic, these three words almost act as a lodestone in discussions about a consolidated tape (CT) for EU securities. The need for such a tape is becoming more apparent than ever, but it could still be three years or so before it become a reality, according to Susan Yavari, regulatory policy adviser at the European Fund and Asset Management Association (EFAMA) and the author of a detailed official position paper on the subject published in mid-February.
Ukraine & Russia: Asset allocation and investing in a time of war
It is a well-known fact that geopolitical events have no lasting impact on financial markets. However, Russian president Vladimir Putin’s decision to wage war on Ukraine has forced institutional investors to reassess their strategies. While stock market indices tend to recover fairly soon after the initial shock of a geopolitical event, the conflict between Russia and Ukraine has potentially wide-ranging consequences beyond a sudden spike in volatility.
Briefing: Now is not the time to give up on emerging markets
“Just when I thought I was out, they pull me back in!” This classic Al Pacino line has applied to many emerging market investors in recent years. Like Michael Corleone, drawn by the potential offered by bold business opportunities, they have accepted to take higher levels of risks in a quest to obtain better results. However, similarly to the family at the heart of The Godfather saga, the outcome of such bets has often caused a lot of pain.
Germany's debate on pension reform edges forward
The war in Ukraine, an unspeakable human tragedy, is forcing governments around Europe to reset international relations and find new partners to secure energy sources. The invasion has strongly tested the intent of the new German government to break with the previous administrations of Angela Merkel.
Viewpoint: Invasion reactions show pension funds are more than investors
Before the Russian government’s decision to invade Ukraine at the end of February, the exposure of European pension funds to Russian assets was relatively low, and in some cases non-existent. Nevertheless, those funds that did invest in Russia acted quickly to reassess their exposure and divest from Russia entirely when possible, given the treacherous market conditions.
The Ukraine war and what it means for pension funds
A health check for pension funds as Russia’s invasion of Ukraine raises questions about diversification and energy
Viewpoint: Why the UK Investment Bank must nurture nature
By Gavin Templeton, partner at Pollination
Viewpoint: Post-war Ukraine
Post-war Ukraine offers threats and opportunities. Peter Kraneveld says it will pay to keep an eye on some key factors
UK's pension dashboard project should prioritise accuracy over simplification
The UK’s Department for Work and Pensions (DWP) consultation on the draft Pensions Dashboards Regulations 2022 closed last month. The DWP now aims to lay the regulations before parliament for debate later in the year.
Germany's debate on pension reform edges forward
The war in Ukraine, an unspeakable human tragedy, is forcing governments around Europe to reset international relations and find new partners to secure energy sources. The invasion has strongly tested the intent of the new German government to break with the previous administrations of Angela Merkel.
Viewpoint: Invasion reactions show pension funds are more than investors
Before the Russian government’s decision to invade Ukraine at the end of February, the exposure of European pension funds to Russian assets was relatively low, and in some cases non-existent. Nevertheless, those funds that did invest in Russia acted quickly to reassess their exposure and divest from Russia entirely when possible, given the treacherous market conditions.
Credit: Investors cautious over Ukraine war
Despite geopolitical tensions, inflation and rising costs, private debt market remains optimistic after a record 2021
Portfolio Strategy – Hedge Funds: Macro bets on
Global macro funds should do better in the current market environment – but not all will thrive and investor due diligence will be key
Portfolio Strategy – Fixed Income Report
As the earnings season gets under way in early January, we look at 2021’s bumper level of bank debt issuance, in particular from Bank of America, JP Morgan and Citigroup, which have all recorded big increases in deposits. Banks look set to benefit from rising rates this year, but also from their historically large capital buffers, diverse funding levels and central bank liquidity backstops and offer attractive valuations.
Asset Class Report: Equities – Focus on tech and social media
Oh MAAAN! FAANG stocks (Facebook, Amazon, Apple, Netflix and Google) are definitely due a rebrand now Facebook has restyled itself as Meta Platforms, Inc. While a rebrand can refresh perceptions, Facebook’s underlying business issues look more intractable, posing questions for long-term investors. We look at two topics in our equities report: how big tech companies are maturing, and how social media companies’ activities are dividing investor opinions.
Asset Class Report: Private Equity
Co-investment in private equity is easier said than done: we look at what it takes to be a successful co-investor. We also look at Africa where there are an array of opportunities for investors
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