All Briefing articles – Page 20
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Features
It’s a war out there
Anthony Harrington finds optimism among active currency managers, and that a top-down discretionary approach might be best-suited to surviving and thriving through the ‘currency wars’
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Features
The EM lending gap
Bank lending to emerging markets is falling sharply – but David Creighton writes that the growth in bond issuance isn’t filling the lending gap
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Developments in Dutch pooling
Recent bilateral agreements and regulatory developments are making the Netherlands more attractive as a jurisdiction for asset pooling, according to Wilfried Mulder and Mischa Muntinga
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Features
The business of uncertainty
Lynn Strongin Dodds takes a look at a sector beset by uncertainty over regulations, profitability and dividends
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Yielding results
Ultra-low bond yields and high dividend yields suggest low-risk investors should consider equity income funds. Joseph Mariathasan looks at the options
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Regulating Europe
Gail Moss reviews pension regulation and law changes under discussion in seven European countries
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Banks back in favour
Fund managers are overweight banking stocks for the first time since 2007. But Maha Khan Phillips finds that not everyone is convinced that now is the time to buy
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Features
AIFMD: the rush to regulate
With its mid-year implementation deadline looming, Giuseppe Rumi and Giorgio Tosetti update us on the state of play for the Alternative Investment Fund Managers Directive
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Features
The middle way
Gail Moss outlines how public sector pension entities can get the best out of the procurement process
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FeaturesThe correlation myth
Patrick Burke d’Orey argues that factor analysis shows that correlations are not at all-time highs – and that even in 2008 there was wide dispersion in pair-wise factor correlations
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Features
Contagious junk?
Speculation that European downgrades could squeeze EM corporate bond issuers is overblown, finds Martin Steward
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FeaturesLiving longer, working longer?
Chris Madsen and Martijn Tans explain their concept of equilibrium retirement age as a tool to help individuals and employers manage longevity risk and plan for retirement
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Features
The inflation trade-off
Hedging against unexpected inflation can be costly. But Karsten Jeske and Anjun Zhou argue that active management can shift the efficient frontier in investors’ favour While inflation and inflation volatility were relatively subdued until the late 1990s, inflation volatility has picked up again in the 2000s. Evidence shows us that more uncertainty about inflation lies ahead.
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Features
Don’t be surprised by inflation
Nicholas Johnson, Berdibek Ahmedov and Ronit Walny argue that now is the time to build a real asset bucket in diversified portfolios
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Features
Australia: gateway to Asia?
It is right on Asia’s doorstep, but James Dunn finds that outside the big resource names there is surprisingly little Asia exposure in Australia’s stock market
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Features
Don’t be afraid to ask questions
Gail Moss finds out the kind of information pension fund trustees should seek from their asset managers since they cannot realistically be expected to understand the many complex products and strategies that are used to manage risk
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Features
Pensions Accounting: Can they fix it?
Stephen Bouvier sets out the problems facing the IFRIC interpretation committee on the treatment of single-A corporate bonds in discounting pension liabilities
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Features
Insurance inspiration
Building an internal model under Solvency II costs time and money. Cécile Sourbes asks what pension funds can learn as insurers edge towards implementing the new framework
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Features
Shaking up high yield
Considering the trend to combine loans and high-yield bonds in the same products, Martin Steward finds the sub-investment grade landscape changing and new opportunities becoming apparent – especially in senior secured
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FeaturesHBS: room for improvement
The concept of a holistic balance sheet is intellectually tempting but could be improved and it is still unclear whether it will be workable in practice, argue Jurre de Haan, Karin Janssen and Eduard Ponds
