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Italy's new-look government

Quitaly? How Italy’s new leaders could redefine European politics

Fri, 1 Jun 2018By

As Italy’s government gets to work, the whole of Europe faces a period of potentially momentous change, writes Carlo Svaluto Moreolo

Theresa May leaves European Council meeting

Brexit: Investors return to UK assets in Q2, survey finds

Fri, 1 Jun 2018By Hugo Greenhalgh

Pension trustees growing more concerned about impact of Brexit as negotiations stall

Jonathan Hill

Former European commissioner Hill joins UBS

Thu, 31 May 2018By Hugo Greenhalgh,

Jonathan Hill quit as commissioner for financial stability, financial services and the capital markets union in the wake of the Brexit referendum

cssf vue g çn çrale

M&G to transfer €39bn of non-sterling client assets to Luxembourg

Wed, 16 May 2018By

Transfers are in addition to €7bn from four funds that moved last year, asset manager says

china the new global leader

Joseph Mariathasan: ‘An open China heralds a more beautiful spring’

Tue, 15 May 2018By

Contrasting China’s opening markets with the US’s protectionist retreat


Legal & General sets up Irish base for post-Brexit business

Tue, 15 May 2018By

Central Bank of Ireland has authorised LGIM’s Dublin-based subsidiary; MFS plans Luxembourg expansion


Columbia Threadneedle to transfer funds to Luxembourg ahead of Brexit

Wed, 9 May 2018By

Asset manager to launch 13 new funds to accommodate switch, subject to approval from investors and regulators

Paris, France

France’s FRR addresses Brexit concerns in manager search

Wed, 9 May 2018By

Pension reserve fund proposes workaround for UK managers bidding for small-cap equity mandates

valdis dombrovskis

Brexit: Regulators urge co-operation to avoid ‘cliff edge’

Wed, 25 Apr 2018By Hugo Greenhalgh

The European Commission and the UK regulator have called for greater co-operation between the UK and the EU to prevent a possible “cliff edge” that could jeopardise the financial services sector across Europe.


Managers have three months to guard against no-deal Brexit

Mon, 23 Apr 2018By Hugo Greenhalgh

If trade talks between the UK and the European Union collapse, experts warn there could be a scramble for Irish fund registrations

Indian flag

Joseph Mariathasan: Why a Danish inn suggests a post-Brexit trade problem

Wed, 18 Apr 2018By

The restoration of Danish links with India suggest post-Brexit trade deals for the UK will not be straightforward

Ha'penny Bridge, Dublin

Brexit: Royal London forms Irish subsidiary to safeguard EU business

Tue, 3 Apr 2018By Hugo Greenhalgh

UK’s largest mutual insurer is the latest to choose Dublin as its post-Brexit EU outpost


Brexit: Sponsor covenant is key, say UK and European associations

Tue, 3 Apr 2018By

PLSA and PensionsEurope warn against implications of ‘no deal’ Brexit scenario

Source: Pension Protection Fund, JLT Employee Benefits

One year to go: Brexit’s impact in four charts

Thu, 29 Mar 2018By

12 months away from Brexit, IPE looks at what the decision to leave the EU has – and hasn’t – done for the pensions and investment sectors


Aberdeen Standard, Jupiter firm up Brexit plans

Thu, 1 Mar 2018By

New hires planned in Dublin and Luxembourg as firms prepare EU business

Norges Bank

Norway’s SWF makes 14% in 2017 after EM equities soar

Tue, 27 Feb 2018By

Government Pension Fund Global made nearly 30% from its emerging market equity allocation

EU flag

Hard Brexit impact on derivatives could cost schemes 'hundreds of millions'

Tue, 5 Dec 2017By , Maarten van der Pas

The European Commission has indicated it wants contracts to become subject to European legislation in the case of a ‘hard’ Brexit

The Houses of Parliament, London

Finance sector needs Brexit deal by January, says committee

Fri, 10 Nov 2017By

Chair of House of Lords committee warns that ‘clock is relentlessly ticking’ over UK’s exit from EU

Governance at UK pension schemes 'not fit for purpose'

Sponsor covenant concerns rising for UK trustees

Fri, 10 Nov 2017By

Survey reveals trustees are worried that employers will struggle to fund pension deficits

David Davis and Michel Barnier at a Brexit press conference in October 2017

CFA: Drop in EU nationals 'a huge loss' for UK investment sector

Wed, 18 Oct 2017By

Poll of UK-based investment management professionals reveals EU nationals’ fears of post-Brexit job security

ESMA Paris building

EU regulators to examine charges, performance transparency

Tue, 17 Oct 2017By

Commission assigns mandate for large-scale study of retail investment products

Steven Maijoor, chair, ESMA

ESMA: Hard Brexit would pose 'significant stability risks'

Tue, 10 Oct 2017By

Steven Maijoor urges regulated companies to work on contingency plans as Brexit negotiations stall

London eye

UK sets up asset management taskforce in Brexit-fuelled action plan

Mon, 2 Oct 2017By

City minister sets out pre- and post-Brexit UK asset management support plans


Strathclyde hedges currency risk after bumper return

Fri, 22 Sep 2017By

Scotland’s biggest public sector pension fund also allocates £160m to direct investment portfolio


Asset management roundup: MJ Hudson makes Brexit move

Fri, 22 Sep 2017By IPE Staff

Plus: New LGPS transparency code commitments, HSBC MiFID II research decision

The European Commission

European Commission proposes industry levy to fund EIOPA

Wed, 20 Sep 2017By

Industry contributions to depend on extent sector or institutions ‘benefit from supervision’

Big Ben and the Houses of Parliament, London

‘Meaningful’ risk of no deal outcome to Brexit negotiations: survey

Thu, 17 Aug 2017By

But pension schemes should have time to prepare response given ‘signposting’ of progress

Oxford University

Savvy Brexit strategy helps Oxford endowment's 2016 return

Tue, 8 Aug 2017By

University fund posts 16.4% investment return boosted by currency

Rio de Janeiro, Brazil

Joseph Mariathasan: The changing face of emerging markets

Mon, 3 Jul 2017By

Extreme political risk is usually seen as a characteristic of emerging markets rather than developed


M&G to transfer €7bn to Luxembourg ahead of Brexit

Tue, 27 Jun 2017By

Transfers to take place in November into four new Luxembourg SICAVs

Amsterdam netherlands

Dutch government fears losing UK as partner on EU pensions

Mon, 12 Jun 2017By

State secretary Jetta Klijnsma stresses that the Netherlands need to stay focused

Big Ben and the Houses of Parliament, London

UK election: Questions over DB reform as Conservatives seek coalition

Fri, 9 Jun 2017By

Green paper review of defined benefit pension system unlikely to be carried forward in its current format

Europe map

ESMA opines on supervisory approach to Brexit-related relocations

Thu, 1 Jun 2017By

Plus: UK regulator writes to asset managers about their Brexit plans 

UK economy: Calm before the storm index

Majority of investors not planning to drop UK assets post-Brexit

Fri, 26 May 2017By

Sentiment on global economic prospects edges up after UK officially serves notice on EU membership

Bafin Frankfurt

German regulator to hold Brexit workshop for UK asset managers

Thu, 25 May 2017By

Workshop aimed at UK-based managers thinking about relocating to Germany

Westhafentower EIOPA

PensionsEurope calls for clarity on post-Brexit supervisory structure

Wed, 17 May 2017By

European Commission floated idea of EIOPA and EBA merger in consultation on the ESAs 

paris france map

French investor association sets out pre-election wish-list

Tue, 18 Apr 2017By

Open letter to presidential candidates sets out proposals on Brexit, regulation, real economy financing and more

Theresa May, UK prime minister

Reaction: UK prime minister calls for general election

Tue, 18 Apr 2017By

Theresa May seeks stronger electoral support ahead of Brexit negotiations

EU flags

CMU proponents call for increased efforts as Brexit looms

Thu, 13 Apr 2017By Jeremy Woolfe

Brussels correspondent Jeremy Woolfe reflects on a tense discussion about the capital markets union

Euro banknotes

Brexit: Currency hedging and global equities to the forefront

Fri, 31 Mar 2017By

Volatility in sterling expected, but major asset allocation changes are not encouraged

UK prime minister Theresa May signs the letter triggering Article 50

UK could face €10bn bill for 'underfunded' EU staff pension scheme

Thu, 30 Mar 2017By

‘Unjustified’ discount rate discrepancies could pose problems as UK and EU debate the Brexit bill for staff pensions


How Brexit could affect investment fund 'passports'

Wed, 29 Mar 2017By

Existing passporting rules for fund domiciles should keep disruption to a minimum, experts say

White cliffs of Dover, England, UK

Testing the Brexit downside: MSCI's best and worst-case scenarios

Mon, 27 Mar 2017By

MSCI examines impact on globally diversified portfolios from three hypothetical Brexit scenarios

Stock market index graphs

Bats Europe launches Brexit indices

Wed, 22 Mar 2017By

Bats Brexit 50/50 indices designed to reflect impact of Brexit on UK companies


Focus on the long term amid political noise: Vanguard

Wed, 15 Mar 2017By

Brexit, Trump, and European elections can distract from long-term goals

assessing the trump effect

Joseph Mariathasan: Can UK benefit from US immigration woes?

Mon, 27 Feb 2017By

Trump’s clampdown on immigrants may create hostility that will backfire on long term economic prospects

Donald Trump

Joseph Mariathasan: May you live in interesting times

Mon, 30 Jan 2017By

Rhetoric from the US and China has seen leaders swap places on their traditional trade stances

Westminster at sunset

Global asset owners bracing for Brexit impact

Fri, 20 Jan 2017By

State Street study reveals institutional investors preparing for investment, operational changes


European, Asian companies lower outlook post-Brexit – Fidelity

Thu, 19 Jan 2017By

Fidelity analysts say companies becoming less willing to invest in UK, but outlook for US improving

Theresa May, UK prime minister

PLSA calls for Brexit deal that supports UK pension funds

Wed, 18 Jan 2017By

‘On no account’ could pension funds support future with no EU access, industry group says

European Parliament

UK ‘could ignore’ European share-ownership rules

Fri, 13 Jan 2017By

Timing of Shareholder Rights Directive clashes with Brexit timetable

The European Commission, Brussels

Asset managers 'could push back on reform' due to Brexit

Wed, 11 Jan 2017By

Think-tank says firms could lobby for deregulation to ease transition to life outside EU

Berlin sunset

IPE Conference: EU ‘one election away from collapse’

Thu, 1 Dec 2016By

Former Polish foreign minister says ‘three vulnerabilities’ need to be fixed to tackle populism

European Parliament

EFAMA: Brexit already raising questions for EU regulation

Thu, 1 Dec 2016By

Brexit theme filtering into daily discussions of variety of topics in European Parliament

Westminster, London

IPE Conference: Markets mispricing risk from future effects of Brexit

Thu, 1 Dec 2016By

Rise of nationalism another headwind facing investors, says Amin Rajan

The Matterhorn, Switzerland

Weaker sterling feeds through to Swiss pension funding boost

Wed, 12 Oct 2016By

Equity markets main driver of 1.8-percentage-point rise in Willis Towers Watson pension index 

Brexit uncertainty hits UK markets

Post-Brexit access to global talent of 'utmost importance', says IA

Fri, 30 Sep 2016By

UK Investment Association survey shows increased interest in solutions-based strategies

Float glass unloading

PIC completes £230m buy-in with UK glass manufacturer's scheme

Mon, 22 Aug 2016By

Deal agreed in early August, takes advantage of higher Gilt prices 

Bank of England

Experts call for other solutions to UK’s woes as QE harms pensions

Fri, 5 Aug 2016By

Ros Altmann says Bank of England statement ignores pensions impact


UK institutional investors increase inflation hedging by 16%

Wed, 3 Aug 2016By

Second-quarter hedging activity sees pension schemes switch from swaps to bonds

Michel Barnier

Juncker playing 'hardball' in naming Barnier chief Brexit negotiator

Wed, 27 Jul 2016By

Former internal markets commissioner to lead EC negotiations with UK 

London skyline

UK DB schemes see big bulk-annuity opportunities in wake of Brexit

Fri, 22 Jul 2016By

Mercer, Aon Hewitt predict cheap deals emerging at short notice

US capitol, Washington DC

IMF, European Commission cut growth forecasts on Brexit uncertainty

Wed, 20 Jul 2016By

IMF lowers global forecast by 0.1 percentage point, but UK expected to be harder hit 


bfinance: Equity managers see Brexit as opportunity

Tue, 19 Jul 2016By Joey Alcock

Joey Alcock explores the future ramifications for investors’ portfolios of the UK’s decision to leave the EU 

London skyline

UK pensions regulator seeks to calm trustees over Brexit volatility

Fri, 15 Jul 2016By

TPR pledges support, clear direction through uncertainty

Houses of Parliament, London

UK should fight temptation to 'fiddle numbers' as Brexit swells deficits

Thu, 14 Jul 2016By

Former UK minister dismisses idea of liability smoothing


UK pension funds vigilant of Brexit outcomes after initial ups, downs

Tue, 12 Jul 2016By ,

Santander pension fund gains more than $1bn in June alone

London skyline

Looming Brexit magnifies lower-for-longer outlook, fund managers say

Thu, 7 Jul 2016By

Interest rates, bond yields likely to remain low for longer period of time

EU flag

Loss of London makes deeper EU capital markets 'more urgent'

Wed, 6 Jul 2016By

Jonathan Hill’s successor says commission will see what more can be done

Ros Altmann law commission event 2

Altmann: UK likely to adopt IORP Directive given Brexit timeline

Wed, 6 Jul 2016By

Timeline for continued EU membership to overlap IORP II implementation, minister says

Westminster at sunset

LGPS seek to meet pooling deadline despite Brexit uncertainty

Mon, 4 Jul 2016By

LGPS, DCLG ploughing ahead with 15 July pooling deadline amid broader uncertainty 


Improving equity markets softening impact of Brexit, consultants say

Mon, 4 Jul 2016By

Mercer attributes Dutch funding drop to falling interest rates

Westminster, London

Brexit horror scenarios failed to materialise, says Germany's BVV

Mon, 4 Jul 2016By

Chairman says markets recovered more quickly than most expected

The Triumphal Arch in Brussels, Belgium

PLSA stands by PensionsEurope membership in wake of Brexit

Fri, 1 Jul 2016By

UK association likely largest single contributor to industry group’s €1m annual budget

Bern, Switzerland

Publica re-running ALM study after neutral pre-Brexit position

Fri, 1 Jul 2016By

Switzerland’s €34bn pension fund stuck to strategic risk budget ahead of UK EU vote


Dutch metal schemes assessing Brexit impact on UK counterparties

Thu, 30 Jun 2016By

Pension for physiotherapists cuts equity holdings in favour of ‘safe’ government bonds

European Council Justus Lipsius

EU Council unveils final IORP proposal; quick parliamentary OK expected

Thu, 30 Jun 2016By

Body representing EU member states provides first official word on agreement with European Parliament

landscape Berlin

Brexit decision 'nothing good' for German occupational pensions

Thu, 30 Jun 2016By

Pension fund association laments outcome of UK vote to leave EU

Next store Oxford Street London corporate

UK DB schemes told to focus on sponsor, not Brexit deficit 'gyrations'

Wed, 29 Jun 2016By

Post-Brexit rush to buy Gilts causes fresh record high in deficits

House fronts, Copenhagen, Denmark

F&P: Denmark must secure free-trading relationship with UK

Mon, 27 Jun 2016By

What UK wants ‘is unclear right now’, Danish pensions association concedes

Brussels at night

Jeremy Woolfe: The Brexit 'Schock' in Brussels

Mon, 27 Jun 2016By Jeremy Woolfe

IPE’s man in Brussels considers some of the many scenarios facing the UK and the EU post-Brexit

Brexit uncertainty hits UK markets

UK defined benefit pension deficits hit £900bn on 'flight to safety'

Mon, 27 Jun 2016By

Schemes should avoid ‘knee-jerk’ reactions, but funding deficits likely to remain under pressure 


ATP: Brexit makes things 'considerably worse' for European economy

Mon, 27 Jun 2016By

Danish pension funds react to UK’s referendum result

Jonathan Hill

Hill resigns from Commission, heralding 'new phase' in wake of Brexit

Mon, 27 Jun 2016By

UK commissioner resigns, saying he cannot continue ‘as though nothing has happened’

Dutch Parliament building

Dutch pension funds fear 'long uncertainty' in wake of Brexit

Fri, 24 Jun 2016By

Netherlands to ‘lose ally’ on pension matters in EU, Federation says

More power to limited partnerships

Asset managers see protracted uncertainty plaguing markets

Fri, 24 Jun 2016By

UK exit process far from clear, and EU may disintegrate further, firms warn

A cold day in London

Low bond yields, risk of rising inflation to exacerbate post-Brexit deficits

Fri, 24 Jun 2016By IPE Staff

Consultants call on trustees to consider impact of changes on sponsor covenants

Houses of Parliament, London

UK unlikely to see 'large-scale' changes to pensions law post-Brexit

Fri, 24 Jun 2016By

Pensions and Lifetime Savings Association warns of time needed to ‘disentangle’ law

Jet airplane taking off

Liam Kennedy on Brexit: Scheduled for departure

Fri, 24 Jun 2016By

IPE’s editor highlights five consequences of today’s Brexit vote for European pensions

Brexit uncertainty hits UK markets

Dutch scheme PMT refrains from taking 'expensive' Brexit measures

Thu, 23 Jun 2016By

Measures would cost too much if UK votes to remain

The European Commission

UK pensioners worse off in Brexit, says Treasury

Tue, 31 May 2016By

Former work and pensions secretary, however, warns of impact of EU pension directives

EU flags

Brexit would cause no major disruption to asset managers – Moody's

Thu, 19 May 2016By

Ratings agency cites loss of passporting rights but says overall impact ‘limited’ 


UK pension fund hedging activity 'significant' in Q4 – LDI survey

Wed, 2 Mar 2016By

BMO Global AM survey shows interest rate hedging at second highest since 2009 

Brexit analysis from IPE Magazine

Letter From Brussels: Brexit focus moves to pensions

February 2018 (magazine)By Jeremy Woolfe

As the risk of a no-deal Brexit comes into focus, attention is turning to ways to mitigate the damage across financial services, including asset management and pensions

Brexit and sponsors: The great unknown

September 2017 (Magazine)By

Trustees need to think about market volatility and employer covenants in light of Brexit

Letter from Brussels: EU seeks to avert Brexit arbitrage

June 2017 (Magazine)By Jeremy Woolfe

Strong words on Brexit are flying in political circles. But behind the theatre, concerns about the future of London’s fund management sector are emerging

Letter from Brussels: Brexit and equivalence

April 2017 (Magazine)By Jeremy Woolfe

Nothing could be clearer. For the financial sector, at least, there is nothing to fear from Brexit. All the UK has to do is to apply to the EU’s rules – the crucial term ‘equivalence’

UK firms vulnerable to slowdown

February 2017 (Magazine)By

Joseph Mariathasan finds that the UK economy has fared quite well since the Brexit vote, but smaller companies are vulnerable to any potential domestic slowdown

Outlook 2017: Breaking up is hard

December 2016 (Magazine)By ,

The UK referendum result raises the possibility of other countries leaving the European Union. Christoph Schon and William Morokoff examine the impact of such a scenario

Risk parity post-Brexit

November 2016 (Magazine)

Despite the increase in risk in many asset classes from a year ago, risk parity funds have weathered this summer’s volatile markets

Guest Viewpoint: Peter Kraneveld - International Pensions Adviser

October 2016 (Magazine)By Peter Kraneveld

Pension funds are not about politics, but their investment portfolios include political risk

Pensions In UK: Of Brexit, deficits and LDI

September 2016 (Magazine)By

With a potential Brexit in sight, Carlo Svaluto Moreolo asks whether the assumptions underlying liability-driven investment (LDI) need to be reconsidered 

Brexit Papers: OK, what shall we do?

September 2016 (Magazine)

Robin Ellison, head of strategic development for pensions at Pinsent Masons and former chairman of the UK Pensions & Lifetime Savings Association, discusses how Brexit uncertainty is impacting the pension fund industry

Brexit Papers: Brexit, bonds and deficits

September 2016 (Magazine)

For Tapan Datta, global head of asset allocation at Aon Hewitt, Brexit is only the latest chapter in the saga of ever-lower Gilt yields and their associated funding challenges

Brexit Papers: Challenges for asset allocation

September 2016 (Magazine)

Andrew Milligan, head of global strategy at Standard Life Investments, explores what Brexit means for investors and pension funds across Europe

Brexit Papers: Real Assets - One small sliver of sunlight

September 2016 (Magazine)

Private debt markets are expected to be relatively resilient post-Brexit, according to Bfinance

Asset manager playbook

September 2016 (Magazine)

As the dust settles following the UK referendum vote on 23 June, Theresa May, the new UK prime minister has been clear: “Brexit means Brexit”. 

Focus Group: The fall-out from Brexit

September 2016 (Magazine)By

Thirteen (62%) of the investors polled for this month’s Focus Group expect the European economy will be worse off once Britain leaves the European Union

From Our Perspective: Brexit adds to the pressure

September 2016 (Magazine)

Future observers might point to the 23 June EU referendum as a turning point for UK occupational pensions. The fall in Gilt yields has added pain to trustees and sponsors, vindicating those who had hedging strategies in place

On the Record: Does Brexit change your investment strategy?

September 2016 (Magazine)

Three pension funds - APK Pensionskasse, ÄVWL and PFA pension - discuss Brexit’s impact 

Special Report: Outlook for Europe - Focusing on the long term

June 2016 (Magazine)By

It is astonishing how much economic and financial discussion focuses on the short-term and essentially trivial.

Brexit: Industry Views

June 2016 (Magazine)

How might a British exit from the European Union affect European institutional investors both inside and outside the UK?  IPE asked experts across Europe for their views in the run-up to the 23 June British referendum. Here is a selection of their responses 

Brexit – are Gilts a haven?

June 2016 (Magazine)By

Joseph Mariathasan asks how the potential UK exit from the European Union would affect the sovereign debt markets

Focus Group: Anxieties over Brexit effects

June 2016 (Magazine)By

More than 70% of respondents to this month’s Focus Group on the possible British exit (Brexit) from the EU say that the European economy would be worse off if the UK votes to leave in this month’s referendum.

Macro Matters: Beware the exit genie

June 2016 (Magazine)By Bob Swarup

Most Brexit speculation seems to be focused on consequences for the UK should it leave the EU, says Bob Swarup. But the result could well be the beginning of the end for the European project


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  • QN-2444

    Asset class: Trade Finance.
    Asset region: Global.
    Size: USD 10m.
    Closing date: 2018-06-25.

  • QN-2452

    Asset class: Hard Currency.
    Asset region: Emerging markets.
    Size: USD 300 mil..
    Closing date: 2018-06-22.

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