All Briefing articles – Page 19
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Features
If it looks like a duck
Hybrid corporate bonds are taking off as investors scramble for yield. But Martin Steward wonders if the hybdridity balance is shifting against investors
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Features
Defining the trustee chair
The rise of LDI, market turbulence and regulatory challenges have all helped to change the role of the trustee chair, according to Gail Moss
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Features
The case for the investment book of record
It is essential for investment decisions to be based on accurate and complete information, but obtaining that in the form of an investment book of record is easier for some asset managers than others, according to John Mayr
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Features
Rock ‘n’ roll yield
Music publishing rights are a proven inflation-sensitive cash-flow asset, and Martin Steward finds that fast-changing music consumption habits are generating not threats, but opportunities
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Features
Keeping hold of deferred members
Pension funds need a robust strategy to keep track of deferred members and to communicate with them in the right way. Gail Moss reports
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Features
Fallout from Ruslan and Cyprisia
Iain Morse assesses the consequences of the Cyprus bailout for the banking and wider financial services industries
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Features
The coup de grace
Roxane McMeeken met with John Kyriakopoulos, the man whose huge bet on Greek bonds paid off dramatically for the country’s largest pension institution
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Features
Confusion reigns supreme
The Cypriot bailout may have only been a drop in the ocean compared with the Greek rescue package. But, as Jonathan Williams finds, lack of detail is a major headache for the local provident funds even three months later
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Features
Caution in the face of opportunity
Despite the growing clamour for funding, pension funds remain cautious about investing in infrastructure. Michael Wilkins analyses some of the barriers holding back potential investors
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FeaturesUnlocking alpha
New statistical techniques and the computing power to put them to work is opening a space for effective factor modelling of hedge funds, writes Robert J Frey
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Features
Stuck in the middle
The mezzanine-debt opportunity has not gone away. But Martin Steward finds that success will probably depend on both greater focus and flexibility
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Features
Once upon a time in the East
It may not quite be cowboy capitalism, but a showdown is due in China, writes Gary Greenberg
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Features
Quest for the ‘golden’ discount rate
We cannot foresee the long-term future, however much we would like to think we can, argues Alf Gohdes
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Features
Choosing the middle way
René Biner offers a 21-year data set that reveals surprising facts about historical loss rates in European mezzanine debt – and the advantages of vintage-year diversification
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Features
Leave nothing to chance
The advent of auto-enrolment in the UK has heightened focus on the need for robust risk management systems for DC plans. Gail Moss looks at a range of approaches
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Features
Taking risk budgeting a step further
An analytical framework at the fund selection stage can help spare DC fund participants the pitfalls of a more advanced approach to diversification, writes Thierry Roncalli
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FeaturesRussian pensions are booming
Reform of Russia’s supplementary pension system is having a strong and positive impact, while further regulatory changes are on the cards for 2013, writes Alexander Lorenz
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Features
A few words of advice…
As the International Accounting Standards Board and the International Financial Reporting Standards Interpretations Committee continue to deliberate the discount-rate objective in IAS 19, Stephen Bouvier invited Falco Valkenburg, one of Europe’s leading consultant actuaries to set out the challenges facing the standard setters
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Features
A tale of two jurisdictions
Expatriate pensions are still an offshore game, and Luxembourg and Liechtenstein are vying for supremacy, writes Gail Moss
