Around the beginning of the 2000s enthusiasm for pension funding was at a high. As Germany took measures to unwind the cosy ‘Rhineland capitalism’ cross-share-holdings, book reserve pension liabilities seemed like yesterday’s solution
This spring marks 20 years since the first issue of IPE. Our founders Piers Diacre and Fennell Betson started this publication with an assumption that funded pension systems would become more widespread in time, leading to increased diversification and a need for clear, well-researched and well-presented information.
The Trump administration maintains that some of the Dodd-Frank legislation brought in following the financial crisis should be repealed or amended
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.
Carillion, the UK construction company that collapsed recently, reminds us, once again, that investment is yet far from being a credible profession
As our co-investment partners PensionKøbenhavn found recently, unexpected risks can turn round and bite you
Speaking plainly but respectfully gets results more often than our ‘inner fence-sitter’ likes to acknowledge
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“The responsibility for making our profession more representative of the society we serve ultimately sits with all of us”
Pension systems everywhere are either struggling to manage the shift from defined benefit (DB) to defined contribution (DC) or contemplating the journey
“The selection of a benchmark is secondary to many other provisions for encouraging long-term behaviour”
“The FCA has picked the wrong fight. We need a way to rate alternative investments”
“At present, UK trustees do not have the right governance framework in place to be effective or accountable”
“Fiduciary management has turned into a sophisticated exercise of managing increasingly complex investment value chains”
It is widely known that EIOPA is studying the possibility of a new EU legal framework for a pan-European occupational defined contribution pension regime