Asset Allocation – Page 167
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Features
On the added value of fixed income tactical asset allocation
Why would one pursue an active allocation investment policy within a fixed income portfolio? The overall risk of the fixed income portfolio is low compared to the other traditional asset classes. Even the most risky fixed income asset classes like Emerging Markets and High Yield have a volatility which is ...
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Moving into a new phase
The European directive of 2003 concerning the activities and the regulation of occupational pension funds was adopted following a very long and difficult process. All things considered, the impact of this directive is very limited for a country like France1. Nonetheless it is a good starting point for us to ...
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Mandatory savings ruled out
Heinrich Tiemann, German deputy minister for labour and social affairs, has reaffirmed that the government has no plans to make retirement saving mandatory. Speaking at a conference, he said that the Riester pension reforms of 2001 had prompted a dramatic rise in demand for second- and third pillar pensions. He ...
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Learn to love tight spreads
We live today, in a somewhat surreal world where, as Tim Bond, the author of the Barclays Capital Equity Gilt Study points out, £800bn (€1.2trn) of final salary UK pension schemes are trying to buy £41bn of long dated index-linked gilts, which he likens to an elephant trying to squeeze ...
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A hitchhiker's guide to LDI
Once the decision has been made to implement a liability driven investment (LDI) strategy to provide protection against interest and inflation rate movements, the implementation process still lies ahead. There are a multitude of different areas in the implementation process that will require simultaneous attention. It is vital for the ...
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Harrods facing pension strike
The UK’s world famous department store Harrods could be facing “damaging” strike action following its failure to undertake proper consultations on its decision to shut its final salary pension scheme, the Amicus union has warned. Amicus - representing 100 members - has accused the store of replacing the existing final ...
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Evolving the system
French retirees draw two or three pensions. The basic pension is paid by the state social security system. On top of that there is a complementary pension paid by an Arrco institution and, for managers, a management pension from Agirc. On average the basic pension represents 60% of their total ...
