Asset Allocation – Page 137
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FeaturesSteady performance through asymmetric returns
Victoria-Volksbanken Pensionskassen has tried to move away from the traditional Austrian pension plan model. David White speaks to Claudio Gligo, who is responsible for the plan’s investments, about meeting members’ risk aversion
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Features
Balancing risks and rewards
Value-based asset liability modelling and generational accounting can reveal the hidden value transfers between generations. David White reports
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Special ReportWhen does it stop being responsible?
IPE asked three pension funds in Italy, the Netherlands and Norway the same question: ‘What is your approach to exclusions and the screening of stocks?’ Here are their answers:
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FeaturesCredit crunch chickens come home to roost
Georg Inderst gives an overview of the effects of the sub-prime generated credit crunch on pension funds
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FeaturesDealing with volatility
Finding global equity managers likely to thrive in the current market environment will be difficult. Joseph Mariathasan asks which approaches are likely to do most well
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FeaturesGrowing demand for thematic ETFs
As the ETF market moves towards more specialist products, Nina Röhrbein looks at fixed income, leveraged and style funds
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FeaturesInstitutions focus on risk
German investment managers are seeing increasing demand for risk management services, including high reporting standards. And this has heightened in the wake of the credit crunch. Barbara Ottawa asked asset managers for their views on current thinking and on the outlook and trends in institutional business
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Features
Markets still off the norm
Yield curve/duration Central banks across the world have been putting in place new measures in order to melt the liquidity freeze. Market conditions have generally improved over the month, although have hardly returned to anything like their historical norms. For example, spreads between LIBOR and other rates remain very wide ...
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FeaturesMoving towards specialisation
As the ETF market becomes more mature and efficient providers are looking for opportunities elsewhere. Nina Röhrbein examines the evolution
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Features
A never-ending story
Attempts to ensure the sustainability of Germany’s pension system have been underway for years, say Klaus Stiefermann and Cornelia Schmid
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FeaturesSaying it right
The complexity of pension investments makes communication very important. Does the Dutch uniform pension statement offer a solution? Rachel Fixsen reports
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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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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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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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FeaturesRedefining DC
Moving away from DC may not involve shifting all the risk to the individual. Maha Khan Phillips examines some of the other options that pension funds, particularly Dutch ones, are coming up with
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FeaturesLooking for more diversification
The civil servants’ scheme is searching for both an investment consultant and a new CEO to lead a diversification of its investment universe. George Coats reports
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FeaturesWhat to do when the wolf is at the door
Next to banks, pension funds are the second largest investor in European private equity. As investors they may be involved, as limited partners, in the leveraged buyouts of companies and their pension schemes - a subject of considerable controversy recently. Pension fund boards therefore face a dilemma: private equity can ...
