Asset Allocation – Page 263
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Features
Institutional exposé
Institutional Investors by E P Davis & B Steil (MIT Press, Cambridge, MA, and London, UK, 2001, pp524) Institutional investors have a much bigger influence over our lives than most of us realise. This follows from the rapid institutionalisation of our savings in recent times. Not so long ago ...
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Features
Public funds rally round the flag
Their efforts didn’t help the US Stock Exchange much, during the first week of resumed trading after the September 11 terrorist attack. But US pension funds did their best to try to stabilise the financial market at such a difficult moment. On September 14, for example, a group of US ...
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Features
Nowhere to hide
The recent terrorist attack and ensuing tragedy in New York have caused further deterioration of an already depressed equity market in Europe. “We are now certain that there will be a recession in the US which will have a direct knock-on effect on Eurozone markets,” says Peter Nethe, a strategist ...
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Features
Implementing strategy shifts
Looking at the practical implications for pension funds wanting to implement strategies in response, Nizam Hamid, director of portfolio and index research at Deutsche Bank, says the first issue for institutional investors in the current market conditions has been how to put effective hedges on existing positions. “A more important ...
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Features
Looking to outsiders
Pension funds in Europe have chosen to outsource their back office and IT activities for two main reasons. The first is that fund administration is often not a core activity. A pension plan’s primary task is the overall management of the plan. Specialised service providers can often run non-core activities ...
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Features
Slightly overweight US
Pessimism about the outlook for the global economy have continuously increased in the past months and we now believe that the economic cycle will not trough before the first quarter 2002. We also expect the global recovery to be more shallow than previously thought and to start from a deeper ...
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Features
Dedicated sector analysis
Our investment process for the Euro-zone is based upon a top down sector allocation and a bottom-up stock selection. Within the Euro-zone, based on the MSCI-sectors, 15 relevant sectors have been identified. Each of these sectors has a dedicated financial analyst which rates the sector (outperform, underperform or neutral) compared ...
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Features
Making the big switch
The challenge facing the UK’s electricity industry a decade ago was that of converting its virtually monolithic industry-wide pension scheme into a system that met the needs of the new multi-employer environment. In meeting this challenge the industry, both on the distribution and generating sides, has worked unceasingly since privatisation ...
