Asset Allocation – Page 176
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Features
Pensions disarray on Capitol Hill
It is spring, but it already feels like November when US Congressional elections will take place. The political fall wind is already freezing any attempt to approve unpopular or controversial legislation. That explains why the US Congress left for its two-week Easter recess without approving a new pension legislation, which ...
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Features
Caution is king
BVV is Germany’s largest Pensionskasse with total assets of €16.9bn at the end of 2004, according to data from the German regulator BaFin. Total assets were nearly three times their level in 1990 and also make BVV nearly three times the size of its nearest rival; BVV’s membership stood at ...
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Features
RIsing the EM roller coaster
It is a fallacy that the world is divided into countries that have already emerged and those that are emerging, said Roger Nightingale, economic adviser to pension funds and global strategist at Millennium Global Investments, kicking off the recent IP E-Symposium on ‘Emerging markets investing’. “The vast majority of non-emerged ...
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Features
European convergence
Eastern European stock exchanges have soared ahead in the past few years. However, we believe that they still offer good long-term potential, thanks to the beneficial impact of European convergence. This does not only apply to the countries that joined the EU last year, but also future applicants and neighbouring ...
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Features
Salary conversion under threat
To continue to safeguard German pension provision in the future, the general aim is to strengthen funded private and company pension schemes. In the field of company pensions, which in the past has been used fairly cautiously in Germany, the legislator has risen to the challenge by implementing significant changes ...
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Features
Holding to your course
Anyone searching for evidence that the dash from equities into fixed income by pension funds was not a universal phenomenon in the UK need look no further than the West Midlands Pension Fund. The Wolverhampton-based fund, with assets of around £7bn (e9.5bn 8.6bn) administers the Local Government Pensions Scheme (LGPS), ...
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Features
Europe on slow crawl upward
Yield curve/duration Yield curves have been adjusting to investor forecasts on what the European Central Bank (ECB) might do next. Whereas last month there was debate about whether there would be another rate hike in the first half of the year, the consensus is now swinging to the opinion that ...
