All IPE articles in April 2009 (Magazine)
View all stories from this issue.
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Features
AMF bonuses become a toxic issue
The outrage sweeping Europe and North America at bonus payments and large pension pots awarded to executives of loss-making financial services entities is also reflected in Sweden. The highest profile victim is AMF, Sweden’s largest pension insurance company and one of its most trusted brands.
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Features
Time to rethink Irish benefits
Accrued benefits in defined benefit (DB) schemes have previously seemed off-limits for employers looking to cut costs. But with an estimated 90% of Irish DB schemes failing the minimum funding standard it may be time for a rethink.
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Features
CEE funds air crisis challenges
The financial crisis and economic recession are taking their toll on the stability of the pension reforms, Chris Verhaegen, secretary general of European Federation for Retirement Provision (EFRP), told her organisation’s 24 March conference in Budapest on the private pension systems in central and eastern European countries.
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Country Report
Cross-border developments
The EU Commission has published the findings of a consultancy process on pension solvency it launched last year. Cornelia Schmid assesses the process and outlines the view of the German corporate pension fund association (aba)
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Country Report
Who’s afraid of BilMoG?
As the domestic accounting reform BilMoG passes into legislation, Alfred Gohdes and Nigel Cresswell assess the implications for German corporates
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Special Report
Prepare for inflation shock
Thomas Thygesen looks at how best to ease into an optimised and diversified exposure to an inflationary scenario
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Opinion Pieces
A stockpickers’ market
History suggests a good decade ahead for equities, but good stockpicking will enjoy handsome returns even in a stagnating market, argue Habib Subjally and Perry Winfield
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Special ReportShining the light of transparency
Efforts are increasing to stamp out corruption and to restore confidence in global capital markets. Nina Röhrbein reports
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Special Report
Credit crunch reshapes custody
Demand for custodians’ services is rising as the credit crunch forces trustees and pension boards to pay attention to previously neglected areas of risk, finds Iain Morse
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Features
Regulatory Risk
Wasserdicht Pensionskasse in Frankfurt invited me to talk to them about risk. ‘You can tell us what you think we should do and what you think best practice should be in terms of risk management. And we have asked an EU regulator to talk to us. You will like him’.
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Special Report
Sting in the tail
Extreme Value Theory and stress testing, in combination with factor-based risk models, can help investors around the shortcomings of VaR, says Jennifer Bender
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Interviews
Revolution for survival
Jan Straatman has chosen a quote from Charles Darwin as the motto for his plans to restructure €330bn Dutch investment management giant ING: “It is not the strongest of the species which survive, nor the most intelligent, but those most able to change.”
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Features
In the real world
Nina Röhrbein discusses indexation policy and inflation protection with Mariëtte Simons, director at the Utrecht-based Pensioenfonds SNS Reaal
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Country Report
A review of performance
Austria’s government has responded to the poor 2008 performance of pension funds by establishing a pension reform commission to discuss possible changes to the system. George Coats makes an assessment
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Features
Time is money
Gail Moss looks at German time-value accounts, which provide a model for flexible DC saving and early retirement provision
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Country ReportKeep it simple
Frank Schnattinger gives an overview of the most recent IPE Institutional Investment survey of German investors attitudes and intentions
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Special Report
Identify the true risks
Mean-variance optimisation’s static focus at the asset class level should be augmented with a dynamic management of risk factors, argues Crispin Lace
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Opinion PiecesGuest Viewpoint
“If the PPF were to be overwhelmed by claims, the taxpayer would almost certainly end up paying”
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Special ReportGetting a grip
The financial crisis has uncovered the shortcomings of traditional asset-class and market diversification. Martin Steward asks whether there is a better way
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Special Report
Maintaining the flow
Last year’s multi-faceted liquidity crunch will change the way funds of hedge funds manage their clients’ money, writes Beverly Chandler
