Today's top news stories
UK roundup: Schroders’ DC funds pass ‘value for money’ test
Also: Reuters seals £625m risk transfer deal; DWP attempts to reassure on post-Brexit state pension payments
Scheme consolidator secures £225m funding from credit specialist
TPG Sixth Street Partners to invest in Clara-Pensions, with backing set to rise to £500m
Kingman review proposes replacing FRC with new, stronger regulator
Recommendation echoes demands of stakeholders to disband audit watchdog
Uncertainty remains on Dutch fiduciary rules after minister’s comments
Social affairs minister seeks to clarify earlier confusion over fiduciary management rule change
Church of England calls for ExxonMobil greenhouse gas disclosure
Church Commissioners, New York State, CalPERS and others push for greater emissions disclosure from oil giant
Huge global custodian mandate up for grabs as ATP casts net
Northern Trust’s contract with DKK779bn pension fund ends in October 2019
IPE Conference: PensionDanmark is Europe’s best pension fund
CEO Torben Möger Pedersen takes solo award, while AP4, FRR, ERAFP and ÄVWL are all multiple winners
Beyond pensions: Debating auto-enrolment’s potential
Could auto-enrolment pension savings be used to pay off loans or buy a house?
IPE Conference: The intertwined future of retirement and investment
Panellists discuss outcomes-based investing, ESG, fees, Brexit and more
Joseph Mariathasan: China’s evolving ESG standards
IPE’s contributing editor gives his perspective on a panel debate from last week’s IPE Conference
IPE Conference: How Ireland’s sovereign fund will invest from 2019
IPE Conference: Veritas CIO on ‘beautiful’ Finnish pension system
IPE Conference: AP4 chief in no rush to add illiquids
IPE Conference: China will not exit coal any time soon
IPE Conference: The areas under scrutiny by EC’s pensions expert group
Chart of the Week: The changing Irish pension landscape
IPE Conference: EU should ‘use single market access to its advantage’
IPE Conference: Quantitative v qualitative in impact investing
IPE Conference: Irish government wants to lead in green finance
IPE Conference: Rethinking retirement income adequacy [updated]
IPE Conference: Governments must ‘get real’ on infrastructure investing
Digital Edition
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On the Record: The question of hedging
We asked two European pension funds how they hedge against interest rate risk, as the probability that interest rates will rise over the few next years grows
How We Run Our Money: Första AP-fonden (AP1)
Mikael Angberg, CIO of Första AP-fonden (AP1), one of Sweden’s buffer funds, outlines the fund’s investment philosophy to Carlo Svaluto Moreolo
What next for US Treasuries?
A consensus on the direction of 10-year US Treasury rates is not obvious, because the answer reverts to a further question: whose consensus? Strategists, economists and other informed professionals have a particular view. The market itself, however, expresses a more diffuse and different opinion.
Macro Matters: Currency returns to the fore
Global tension means exchange rates will again become a key mover of investor decisions
German Longevity: Are the tables turning?
The rate of increase in life expectancy in Germany appears to be slowing down
Liabilities remain in focus
Given overall pressure on funding rates and falling asset markets, 2019 looks set to be a year where good governance and adaptability to external events will be crucial
The right tool for the job
Applying economics models to understand politics is like trying to use a trowel to saw a piece of wood in half
Global Equities: Valuation vagaries
Mean reversion is useful in valuing stocks, but there are many unpredictable factors that can disrupt long-term assumptions
Emerging Market Debt: Sentiments drown out sense
The political and economic uncertainty surrounding Turkey and Argentina is distracting investors from the sound fundamentals to be found elsewhere across the asset class
Small & Mid-Cap Equities: Small-cap effects
Some US smaller companies may benefit from America First policies but others will not
Guest viewpoint: Simon Lewis, AFME
Europe’s capital markets are facing some of their toughest challenges since the global financial crisis
Long Term Matters: What should investors do about authoritarian governments?
In October, I wrote that investors would soon have to choose between backing social justice or going along with authoritarian- ism. I was not expecting that the choice would come so quickly
Guest Viewpoint: Jim Hawley and Jon Lukomnik
It is fitting that we launched our ‘Purpose of Asset Management’ paper in London, not far from 221b Baker Street, the home of the famous fictional detective, Sherlock Holmes.
Long-Term Matters: Disruptive change is coming – which side will you choose?
Paying good pensions is a noble purpose but much less so if investors, inadvertently or otherwise, help create a world that is not worth living in
Long-Term Matters: What world are we creating by saving the world?
The focus of ESG investment has been moving towards the environmental over several years. Topics like green bonds, carbon indices, green ETFs, portfolio carbon footprinting and decarbonisation are making headway
