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Impact Investing

IPE special report May 2018

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Asset managers “not voicing concerns

GERMANY – Klaus Moessle, president of the European Asset Management Association, has criticised asset managers for not voicing concerns about asset allocation with their pension fund clients.

Speaking at a meeting of senior European asset managers in Frankfurt, Moessle said that many pension fund mandates had been awarded to asset managers without adequate regard to the asset liability matching requirements of pensions funds.

Moessle said that asset managers must accept some blame for not raising their voices loudly in addressing this and insisting that their mandate reflect a sensible overall investment strategy of their pension fund client.

He added, however, that asset managers were not predominantly to blame, saying that it was normally pension fund sponsors - advised by consultants - who decide on the risk-return profile of the overall investment strategy, while asset managers are responsible for its implementation.

Moessle stressed the importance of asset managers becoming more closely involved with their clients, particularly their pension fund clients, in determining the appropriate asset allocation model over the long term.

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