In 2001, the Myners report raised the issue of the investment value chain and how pension funds could improve outcomes through their governance structure. It also highlighted market inefficiencies in areas like peer-group herding and investment consulting. The interaction between fiduciary duty and the provision of institutional investment services had not been explored so extensively before and the report resonated widely outside the UK.
In 2001, the Myners report raised the issue of the investment value chain and how pension funds could improve outcomes through their governance structure. It also highlighted market inefficiencies in areas like peer-group herding and investment consulting
The 1933 Disney animation The Three Little Pigs featured Fiddler and Fifer, who believed their straw houses were safe from a marauding wolf. The movie popularised the song Who’s Afraid of the Big Bad Wolf; as readers will be aware, the pigs’ straw houses were not safe from the wolf, who blew them down.
What is the connection between tropical fruit and systemic risk? In 1990, when East German citizens demonstrated for freedom and democracy, the banana became a potent symbol of the basic level of prosperity to which they aspired
Gerard van Olphen, CEO of APG, contends that the Dutch pension sector is in denial about the need for transparency. The same accusation could be levelled against pension funds in other places.
Future observers might point to the 23 June EU referendum as a turning point for UK occupational pensions. The fall in Gilt yields has added pain to trustees and sponsors, vindicating those who had hedging strategies in place
Trump and I agree on one thing: liberals and centrists love to whinge. If we are clever, we engage in intellectual self-gratification, showing how well we understand the complexity. If now isn’t the time for a big pivot in how we show up in the world, in actions and not just sophisticated banter, when would be?
Last month I met with my old friend Thijs, who is CIO of a large UK corporate pension scheme, working in a small investment office in the UK with an enlightened CEO
Early on Wednesday 9 November we learnt that Donald Trump would be president of the US, and two days later I heard I may have a cancer.
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“The UK local government pension investment regulations are a step in the right direction”
“Successful managers are hard to find but those that do exist generally share some common characteristics”
The pensions world is constantly changing. In the UK, more DC savers, coupled with recently introduced flexibility of access, will increase the levels of risk and complexity for many
Pension funds are not about politics, but their investment portfolios include political risk
“It is time the authorities addressed the serious side effects of monetary policy on UK pensions”
“Easier, cheaper fund distribution would help build stronger capital markets”
“The cost for a German young person to provide for a pension has roughly tripled since 2008”