Asset Allocation – Page 142
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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 ...
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Features
Fortis Investments looks to fiduciary
The fortunes of a CEO can vary with the tides, particularly when it comes to mergers and acquisitions. Sometimes a merger makes their position redundant; other times it can catapult the CEO to the helm of a new entity that has changed beyond recognition. Fortis Investments’ future was ...
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FeaturesThe sleeping giant of Valley Forge
A triumvirate of US asset managers dominate passive investment. Between them, State Street Global Advisors (SSgA), Vanguard and Barclays Global Investors (BGI) manage over $3.5trn (€2.3trn). But while BGI and SSgA have built hedge fund and active management businesses, and have swept up business in European pension markets, Vanguard has ...
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Features
How we moved our money
Last year, the Dutch pension fund PME mandated Mn Services with the fiduciary management of its assets, and took a stake in the company, in what was the largest ever European portfolio transition. Iain Morse discusses the transition aspects of the deal with Roland van den Brink of Mn Services
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FeaturesRefocusing on risk
After five years of growth the recent market turmoil is leading to a strategic reassessment on the part of asset managers in France. Nina Röhrbein examines the emerging trends
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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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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
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 ...
