Asset Allocation – Page 136
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Special Report
Ownership creates involvement
Stakeholders in defined benefit pension funds should redefine who exactly takes which risks, what constitutes solvency and who owns which part of it. Theo Kocken takes the baton in the first instalment in a series of discussion papers
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FeaturesWaiting for a breakthrough
Investment consultants has seen little change since the 2003 reforms but actuaries find business is booming, says Rachel Fixsen
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FeaturesWhy a global scope assures GTAA returns
In spite of recent reverses, global tactical asset allocation has developed from an add-on strategy to an integral part of a pension fund’s investment portfolio, according to a recent study. David White reports
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Features
New Jersey buys financials cheaply
These days the most talked about pension fund in the US is New Jersey State’s Retirement System. With $81bn (€54.7bn) in assets, it is the ninth largest US public pension fund. It is also the instigator of a highly innovative attempt to team with other large institutional investors, including foreign ...
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FeaturesWhy hedge funds mismanage alpha risk
The greatest source of market-driven hedge fund blow-ups is alpha, or manager skill risk. Leslie Rahl, Richard Horwitz and Erin Simpson of Capital Market Risk Advisors suggest this is due to an inadequate management of alpha risk
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FeaturesUnlocking the buyout market
The UK’s pension buyout sector has generated attention and controversy in almost equal measure. Joseph Mariathasan discusses business models and future trends with leading players
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Features
Taking a stake
The typical shareholder does not like underperforming companies. However, where he only sees loss of profits, others see an opportunity.
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FeaturesOverdue for an overhaul
International accounting standards have served pensions accounting well, but it is time for an update, argues Andrew Lennard
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Features
Fiduciary roles
Fiduciary management is now established in the Netherlands, but what role do consultants play when a fiduciary is appointed? Pirkko Juntunen investigated
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FeaturesCommission issues two surveys in fight for pensions portability
More artillery has arrived on the battleground where the EU is still fighting for pan-European legislation on the portability of supplementary, non-state pensions for employees. The weapons recently wheeled into place by the European Commission takes the form of two heavyweight studies. These include existing national business practices, measures of ...
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FeaturesStrategically speaking: Finles Capital Management
Finles Capital Management, a Dutch investment management boutique based in Utrecht, is unusual for at least two reasons.
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Features
Not another dagger?
The recent paper from the UK Accounting Standards Board (ASB) was described by Aon Consulting as “another dagger in the side of final salary pensions”. But when is a dagger not a dagger? Apparently, when an organisation or even an individual does something to draw attention to the increasingly unsustainable ...
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Features
Asset allocation
Equities Investors are more bullish on US and UK equity markets and more bearish on Japan, Asia, and euro-zone equities. Asia experienced the biggest decline in sentiment; with the number of investors predicting a rise in Asian equities falling 10%. Asia had been the one bright spot in terms ...
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Special ReportOff the record: Bean counters called to account
Few issues have generated so much controversy among Europe’s corporate pension schemes as the application of international accounting standards (IAS). In Switzerland, the introduction of IAS19 has led pension lawyers to re-define Pensionskassen as defined contribution (DC) rather than defined benefit (DB) schemes in an effort to escape its provisions. In the Netherlands, industry-wide schemes have argued that the involvement of a large number of corporate sponsors has made the implementation of IAS19 impossible.
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Features
Positioning your super fund for the future
The head of one of Australia’s biggest investors has some advice for super fund managers who struggle to balance the books. Richard Newell listens to his words of wisdom
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Features
Turkey's financial sector
After a flat 2006, in 2007 the Istanbul Stock Exchange saw an increase of 72% in US$ terms.
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Features
The changing face of Turkey
The heralding of Turkey as a new entrant to the global economy is the result of a misconception. Turkey has, in fact, been tied into the globalised economy for decades, if not centuries.
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Features
New man at EFRP
He may be a new broom, but Angel Martinez-Aldama will be sweeping up much of the same old dust, finds George Coats
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Features
Turkey's Oyak diversifies abroad
Oyak, the €5.5bn pension fund of the Turkish armed forces, is to invest in foreign assets for the first time since it was established over 40 years ago.
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Features
Alpha through restructuring
Paolo Barbieri discusses the opportunites provided by restructuring hedge funds
