Top news
Dutch pension fund wins court case against Booking.com
The verdict could mean the Amsterdam-headquartered travel company will be forced to join Reiswerk, the pension fund for the travel sector
Varma invests €200m in BlackRock US ‘transition readiness’ ETF
Finnish pension insurer was only European anchor investor in the €1bn-plus NYSE launch
Ameriprise Financial to buy BMO EMEA asset management arm
Acquisition will give Columbia Threadneedle ‘substantial presence in European institutional market’
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Feri Trust adjusts allocation strategy to SFDR rules
The firm has recently signed a partnership with ESG Screen 17, a data provider combining ESG data with the UN’s SDGs
PRI launches new three-year strategy, drops purpose statement
Board cites concerns about ‘mission drift’ and annouces plan to consult with signatories on mission statement
Swedish pension system ‘significantly better than reputation’, says Alecta
Sweden’s largest pension fund says new analysis shows pension income have risen to 75% of people’s working incomes
Analysis: Pension funds embark on SFDR implementation journey
IPE analysis across four key EU pension jurisdictions finds uncertainty about the final detailed rules underpinning the anti-greenwashing regulation
Norway SWF to cut number of stocks by 25-30%, shedding smallest
UK pension funds seek judicial review of inflation measure reform
Aon sees pension guarantees disappearing from German market
Spanish funds end 2020 on upswing with 1.5% return
IPD warns Danish green bonds must align with EU standard
Alecta plans to step up big-ticket investments in unlisted equity
People moves: Elo finds new CEO in Veritas chief Pettersson
Investment consultants endorse impact investing principles for pensions
UUK floats ‘difficult’ USS covenant requests, new DB/DC balance
NBIM revises strategy, builds in Tangen’s focus on mental toughness
UK pensions watchdog raises bar on climate change
Accounting roundup: Full-scale IAS 19 review option; new IOSCO group
Folksam, KPA set 2025 climate goals, counting on persuasion
Swedish pensions and insurance group aims to slash portfolio emissions by 29% by engaging but divestment ‘may become relevant’
FSB to present G20 with climate-related financial risk roadmap
FSB says ‘strategic vision, good coordination and clear communication’ have become more important
Strategically speaking: Allianz Global Investors
Allianz Global Investors (AGI) has long invested in green infrastructure. The market, and the perception of renewable energy for investors in particular, has changed during this time. Investors are ready to engage with renewable energy or cleantech if the underlying technology has a proven track record.
How we run our money: Sampension
Henrik Olejasz Larsen, CIO at Denmark’s Sampension, talks to Carlo Svaluto Moreolo about the fund’s bias towards value equities and its diversification strategy
On the record: Value makes a comeback
IPE asked two European institutional investors what biases are built in their equity portfolios, as value equities show signs of new-found strength
Strategically Speaking: Capstone Investment Advisors
Last spring’s exceptional market volatility proved the mettle of at least one set of strategies – volatility-focused hedge funds. The CBOE Eurekahedge Tail Risk Hedge Fund index returned a bumper 51.64% in the first three months of 2020 alone against a broad hedge fund market index return of -7.96%, and was up 34.8% for the year.
How we run our money: Pensionskasse Manor
Martin Roth (pictured), CEO of Pensionskasse Manor, talks to Carlo Svaluto Moreolo about the fund’s diversification strategy and long track record in alternatives
People moves: Swedish premium pension inquiry adds Secoria duo
Secoria, Mercer, AllianzGI, LV, Elo, PFA Pension, BNP Paribas Asset Management, AP1, ECB, Invesco, Principal Global Investors, PineBridge Investments
La Française names new head in Germany prior to strategic move
Wolter’s hire comes ahead of a strategic realignment of La Française Group in the German market following the acquisition of Veritas group
Inflation strategy: Conditions look ripe for a new commodities supercycle
The media briefly got excited when the followers of Reddit – a social news website often used by political activists – ineffectually attempted to ramp up silver prices in February. But news about commodity prices other than oil and gold rarely make headlines. For most institutional investors, commodities are a Cinderella asset class. A fleeting moment in fashion before the 2008 global financial crisis (GFC) has been superseded by widespread indifference.
Selectivity is key in SPAC market
The vogue for special purpose acquisition companies (SPACs) has something in common with many other fashions, whether in investment or in the shops. Just when you think the trend cannot get even hotter, the temperature rises yet further.
Long term assets: Proposed vehicle aims to help DC funds access private asset classes
The UK’s chancellor of the exchequer, Rishi Sunak, has set an ambitious timetable for the launch of a new UK-authorised fund vehicle, the Long-Term Asset Fund (LTAF), by the end of 2021. The LTAF is envisaged to simultaneously help achieve several policy goals by directing pension savings into alternative investments.
Equities to the fore as an inflation hedge
At a time when institutions can deploy billions swiftly at the touch of a few buttons, there is increasing focus on deploying capital well. A notable buzzword of late has been ‘resilience’ as pension funds look to downside risks.
Hopes for coherence in sustainability disclosures regulations
It could have been done differently, but, nonetheless, a clear path is emerging as to how EU sustainable finance regulations will become more of a coherent whole. The problem that has been perceived and outlined time and time again by investor groups is that disclosures are being asked of their constituencies – asset managers, pension funds – for which the data is not really available, or only at a significant cost. Tough, some may say, get on with it.
Green ambitions to drive recovery
Last month, Italy announced its first foray into the hot market of green bonds by raising a record €8.5bn (see page 9).
Equities to the fore as an inflation hedge
At a time when institutions can deploy billions swiftly at the touch of a few buttons, there is increasing focus on deploying capital well. A notable buzzword of late has been ‘resilience’ as pension funds look to downside risks.
Hopes for coherence in sustainability disclosures regulations
It could have been done differently, but, nonetheless, a clear path is emerging as to how EU sustainable finance regulations will become more of a coherent whole. The problem that has been perceived and outlined time and time again by investor groups is that disclosures are being asked of their constituencies – asset managers, pension funds – for which the data is not really available, or only at a significant cost. Tough, some may say, get on with it.
Green ambitions to drive recovery
Last month, Italy announced its first foray into the hot market of green bonds by raising a record €8.5bn (see page 9).
Guest viewpoint: Francesco Curto, DWS
The UK’s report into the Economics of Diversity, the Dasgupta review, highlights that our economic model is not sustainable
Viewpoint: Schemes must align climate goals with overall endgame objectives
Over the next 10 to 30 years, pension schemes face two major challenges: ensuring that member promises can be paid in full and on time and climate change
Fixed income & credit
As the world still grapples with the implications of the COVID-19 pandemic, credit investors continue their search for attractive yields in an environment where liquidity, even for long-term investors, could become critical. In this report, we look at different aspects of the fixed income & credit universe, including multi-asset credit strategies, the changing US high yield market, and the opportunities for institutional investors in trade and supply-chain finance.
European Equities: Breath of optimism
The roll out of COVID vaccines has brightened the outlook for European large caps facing a changed landscape
Hedge fund performance: 2020, year of the human touch
Diversification is back in favour for hedge funds and those with a downside protection mandate delivered during the crisis
Value equities: Dead or alive?
Today’s realities and intangibles have changed the face of value
Investment Grade Credit: Markets gauging the new administration
The US credit market is heading for change under new President Joe Biden’s administration
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