All Briefing articles – Page 18
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Features
Bond platform rivalry heats up
Pension funds and other institutional investors are searching for alternative ways to find liquidity in fixed income. Bond platforms are vying for the job, writes Maha Khan Phillips
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Features
Viva Aviva? Well, maybe
Gail Moss looks in detail at Aviva Staff Pension Scheme’s £5bn longevity risk transfer which, although still part of a relatively small club, could open the door to similar deals
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Features
Long tech, short toil
Bob Swarup likens today’s environment with the second industrial revolution and the six-year depression it unleashed, and advises investors to get on the right side of the current technological revolution
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Features
Two sides to private equity
A recent NBER working paper suggested that private equity delivered absolutely no risk-and-cost-adjusted return beyond what is available in public markets. Anthony Harrington takes a closer look at this surprising finding
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Features
Banking on emerging markets
Financial services may be a less stretched way to get exposure to the emerging consumer, writes David Turner. But will stockpicking shield investors from these markets’ credit crunches?
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Features
Sky-high yield
Paul Read acknowledges that further capital appreciation in high yield is unlikely, and argues that good bottom-up analysis is now crucial for capital preservation and decent returns
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Features
Time to pool resources
Leen Preesman asks the CEOs of PGGM and PKA about their co-operation plans and about the development of supplementary pensions in Europe
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Features
Public sector challenges
Gail Moss speaks to Eva Kiwit of EAPSPI, the voice of public pensions at European level
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Features
Risk management under the AIFMD
Kai Braun and Désirée Springmann describe the major changes ahead for private equity and real estate fund managers
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Features
Mixed evidence on financialisation
Lorenzo Naranjo and Carmen Stefanescu note that commodity futures volatility has been rising since the era of ‘financialisation’ – but also that the correlation with equity market volatility long pre-dates this period
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Features
The inconstant constant
Regulation threatens the existence of Constant Net Asset Value money market funds. David Turner asks if investors will miss them
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Features
Command, control and organisation
Gail Moss outlines the duties of the investment committee chair – one of the most influential positions in a pension fund
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Features
Carbon investment: worth the risk?
Gyorgy Dallos argues that the financial risks associated with investing in fossil-fuel companies will increase as they extract in more hazardous places and stricter carbon constraints are enforced
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Features
UK joins the race
A new tax-transparent fund, launched this summer, puts the UK on the map for pension pooling. Gail Moss explains
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Features
A future for swaps?
Pension funds facing new derivative-market regulation are increasingly willing to consider alternatives to traditional swaps, according to Cécile Sourbes. But the jury is still out on interest rate swap futures
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Features
More than meets the eye
The usual selling point for ETFs is that they are cheap, but that has rarely held for institutional investors. Anthony Harrington finds less obvious, but arguably more compelling, advantages
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Features
Nurturing Europe’s mid-market
Taron Wade and Alexandra Dimitrijevic look into efforts to expand Germany’s Schuldschein debt private-placement market to the rest of Europe
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Features
Rating hybrids
Issuance of hybrid capital in Europe surged at the start of the year and is likely to remain elevated in the near term. Taron Wade discusses how such instruments are rated and why new issuers are getting involved
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FeaturesA high-yield lesson from history
Richard Ryan warns investors not to respond to apparently tight spreads in investment-grade bonds by simply stretching for the extra 260 basis points available from high yield
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Features
German investors defy tough year
Frank Schnattinger outlines the findings of IPE’s seventh annual survey of German institutional investors
