All Analysis articles – Page 9

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  • Analysis

    Big picture questions

    March 2013 (Magazine)

    BlackRock, the world’s largest money manager, has reached a record $3.8trn (€2.8trn) in assets, about 60% of which is for institutional clients, including pensions. CEO Larry Fink, commenting on his firm’s 2012 results, said that the institutional business will launch a “strategic client programme” this year.

  • Analysis

    Letter from Brussels: Enforcement problems

    February 2013 (Magazine)

    Enhancement to the EU’s successful UCITS legislation for cross-border collective investments is now underway. But there are nagging concerns that whatever the outcome for UCITS V, the good work could be undone by member states and their judicial systems failing to enforce common rules.

  • Analysis

    Letter from the US: Back from the edge

    February 2013 (Magazine)

    If there was a clear message from the whole ‘fiscal cliff’ debate, it is that social security will be affected sooner or later. Employees need to realise that company-sponsored pension plans will become an even more important supplement to their retirement income.

  • Analysis

    Letter from Brussels: Soup-kitchen future?

    January 2013 (Magazine)

    There are increasing forecasts of widespread poverty for Europe’s pensioners in future decades. For a start, there are the 60m citizens in the EU who do not have an occupational scheme. Longevity combined with feeble returns on investment, plus millions of young, non-contributing unemployed people, support the forecast of misery.

  • Analysis

    Letter from the US: Battle of the benefits

    January 2013 (Magazine)

    Obama’s healthcare reform will be the biggest new law affecting US companies in 2013. But will it have an impact on pension funds? Healthcare and retirement benefits are managed separately, but a change in costs for the former will eventually affect the latter.

  • Analysis

    Letter from the US: Pension uncertainties

    December 2012 (Magazine)

    Social Security reform was notably absent from the 2012 US presidential campaign. 

  • Analysis

    Letter from Brussels: Deaf ears for EC claims

    December 2012 (Magazine)

    Summer 2013 might be some way off but it is when the European Commission intends to publish its proposals for IORP II. And signs from the Commission are that the usual procrastination is no longer intended.

  • Analysis

    Letter from the US: Colleges count losses

    November 2012 (Magazine)

    US college and university endowments had the worst returns of any insitutional investor in the year ended 30 June 2012

  • Analysis

    Letter from Brussels: Lack of trust blamed for low savings

    November 2012 (Magazine)

    While euro-zone household savings, including retirement provision, grew steadily from around €600bn gross savings at the end of the century to a peak of €910bn in 2009, they fell to €834bn by 2011.

  • Analysis

    LIBOR litigation looms

    October 2012 (Magazine)

    US pension funds are still trying to understand the impact of the LIBOR scandal on their assets to assess whether they should launch a class action against the banks involved in the case. The matter is highly complex and could lead to tens of billions of dollars in claims, not just from pension funds but also from cities, states, lenders, insurers and other investors who say they were hurt by the allegedly manipulated rates.

  • Analysis

    Letter from Brussels: EU clears the decks

    October 2012 (Magazine)

    The Brussels legislative programme for the financial sector will be as frenetic as ever from now until early 2013. It is a race to achieve as much as possible before electoral canvassing by MEPs starts ahead of the parliamentary elections in May 2014.

  • Analysis

    Letter from Brussels: Ins and outs of ‘flexileg’

    September 2012 (Magazine)

    In the old days, an international investment bank could study a Brussels Directive or Regulation and make plans.

  • Analysis

    Letter from the US: MAP-21 skirts IASB

    September 2012 (Magazine)

    Under the seemingly innocuous Moving Ahead for Progress in the 21st Century Act (or MAP-21 for short), new accounting rules have been approved in the US that will affect their private pension funds. But will it be for better or for worse?

  • Analysis

    Letter from Brussels: A welcome day

    July 2012 (Magazine)

    You can almost hear the sound of satisfied occupational pension fund representatives rubbing their hands together at the news that the IORP II Directive has been postponement.

  • Analysis

    Letter from the US: Taft-Hartley blues

    July 2012 (Magazine)

    Labour unions are not having the best time. Last month they suffered a major setback in Wisconsin, where Governor Walker won a recall election against union members and Democrats, who were protesting against his law removing most collective-bargaining rights from public employees. One reason why the unions lost is that those rights had assured very generous pension benefits to unionised public employees.

  • Analysis

    Wisdom of independence

    June 2012 (Magazine)

    In the aftermath of the 2008 financial crisis, independent US asset managers have increased their revenues and profitability more than the asset-management subsidiaries of the larger US financial institutions. Publicly traded asset managers posted median profitability of 35% last year, compared with 25% for subsidiaries, and grew revenues 15% during 2011, compared with 6% for subsidiaries, according to recent analysis from Casey, Quirk & Associate, a consultant to the global asset management industry.

  • Analysis

    Letter from Brussels: HFT debate hots up

    June 2012 (Magazine)

    The debate in Brussels on high-frequency trading (HFT) is heating up. The main forum is the European Parliament’s economic and monetary affairs committee (ECON), which in July will clarify its position with a vote.

  • Analysis

    EC backing for VC

    May 2012 (Magazine)

    Radical changes in opportunities to invest in venture capital (VC) are emerging via the EU, including in Brussels, where the European Parliament is now vetting a draft Regulation on European Venture Capital Funds. The package aims to make it easier for VC funds to raise capital from across the EU.

  • Analysis

    Politics of change

    May 2012 (Magazine)

    The nomination of Mitt Romney as the Republican candidate to the White House may bring a lot of attention to the US pension fund industry. If he wins the election on 6 November, he could introduce a partial privatisation of Social Security, the compulsory insurance programme funded through payroll taxes. The first president to talk about privatising it was also a Republican one, George W Bush, but his proposal went nowhere.

  • Analysis

    Funds join the fray

    April 2012 (Magazine)

    This proxy season in the US is likely to be highly politicised, with the public sector’s pension funds playing a big role. In fact, it will be a test for several rules introduced by the Dodd-Frank Wall Street Reform and Consumer Protection Act. In addition, the 2012 presidential campaign is getting hotter, with the Republican candidates promising to repeal the Act, if elected. The Republicans already control the House of Representatives and might conquer the Senate, too. Moreover, if Barack Obama loses, the new Republican president will be able to nominate a new Securities and Exchange Commission chairman and the SEC will change from a Democratic majority to a 3-2 Republican majority.