Columns – Page 16

  • Features

    Time for a debate

    September 2014 (Magazine)

    This autumn our government is orchestrating what it calls a ‘national debate’ on the future of our Dutch pension system. We at Wasserdicht Nederland have always taken a prudent approach to our pension schemes and we have remained well funded. Unlike many other Dutch funds, we have not had to implement benefits cuts – something I hope our members appreciate.

  • Opinion Pieces

    Learning disabilities

    September 2014 (Magazine)

    Who would invest in a sector that has lagged the Stoxx 600 by 1.1% in overall growth and by 0.3% in EPS growth for the last 19 years on an annual basis?

  • Opinion Pieces

    “The best CDC design is collective implementation with clear ownership rights”

    September 2014 (Magazine)

    Designing a robust retirement income solution is not easy – as with most complex issues, there are no silver bullets, only trade-offs. The challenge is to balance life-long retirement income stability with financial risk-taking, all within a framework that is understandable, transparent and fair and hence can be trusted by members.

  • Opinion Pieces

    Is divesting working?

    July 2014 (Magazine)

    OK, it  doesn’t work very well. We’re still on track for runaway climate change, according to Fatih Birol, chief economist of the International Energy Authority.

  • Opinion Pieces

    “Italian employees have great need of consistent additional pension coverage”

    July 2014 (Magazine)

    Assets managed by pension funds in Italy equate to about 6% of its gross domestic product. In a country where the social security system provides an adequate level of coverage at retirement that would not be a concern. But in Italy, after all the recent reforms, this situation represents a relevant risk for both employees and employers. Benefits provided by the social security system have strongly decreased over the last 20 years and the retirement age raised considerably. 

  • Features

    Time for a change

    July 2014 (Magazine)

    Earlier this year, the investment team had a briefing from Rolf, the long-standing chairman of trustees of the Wasserdicht Pension Funds here in the Netherlands. Things are changing, at least in terms of our internal governance, and Rolf came along to tell us about it.

  • Opinion Pieces

    M&A medicine

    June 2014 (Magazine)

    The debate about Pfizer’s proposed takeover of the UK’s AstraZeneca – which should have resolved itself by the time you read this – reminds us that there are some big unanswered questions relating to institutional investors and M&A activity.

  • Opinion Pieces

    Bart Heenk, Managing director, Avida International

    June 2014 (Magazine)

    “A balanced scorecard enables trustees to monitor, assess and improve outsourced services”

  • Features

    Look to the north

    June 2014 (Magazine)

    In the Netherlands we are sensitive to environmental problems and are aware of our vulnerability as a low-lying nation to rising sea level. After all, you have to if a fifth of your land and a fifth of your people are below sea level. 

  • Opinion Pieces

    Body of evidence

    May 2014 (Magazine)

    When I was training to be a doctor, the advent of evidence-based medicine (EBM) was a major step forward.

  • Opinion Pieces

    Nigel Waterson, Chairman of trustees, Now Pensions

    May 2014 (Magazine)

    “There is one universal truth upon which virtually everyone agrees – the UK annuities market is broken”

  • Opinion Pieces

    ESG lacks something

    April 2014 (Magazine)

    No, I haven’t had a damascene conversion to become an ESG critic. Rather, my argument is that the ESG (environment, social and governance) community needs to add another ‘E’, for economics.

  • Opinion Pieces

    Thomas Richter CEO BVI, Germany’s asset management association

    April 2014 (Magazine)

    “Auto enrolment would make sense in Germany and could develop through collective bargaining”

  • Opinion Pieces

    The twain shall meet

    March 2014 (Magazine)

    The figures speak for themselves when it comes to the development of defined contribution (DC) pension assets. Defined benefit (DB) pensions accounted for over 60% of the total assets in Towers Watson’s annual Global Pension Asset Study 10 years ago but that share is now 53% and falling; the annual growth of DC assets was 8.8% over the past 10 years compared with 5% for DB assets.

  • Opinion Pieces

    Lessons from Davos

    March 2014 (Magazine)

    Who would have thought that Davos  would take over from the dormant Occupy movement on the issue on ‘inequality’? Or that five years after the crisis the financial sector would still be top of the WEF Global Risks register?

  • Opinion Pieces

    Debbie Harrison Visiting professor The Pensions Institute, Cass Business School, UK

    March 2014 (Magazine)

    “The most important factor that determines the outcome in DC pensions is the member charge, not the investment strategy”

  • Features

    DB, DC and all that

    March 2014 (Magazine)

    Wasserdicht’s Dutch pension fund is one of the few that has maintained a strong solvency ratio throughout the crisis of the past few years.

  • Opinion Pieces

    Jerry Moriaty, CEO and Director of Policy at the Irish Association of Pension Funds

    February 2014 (Magazine)

    “While Ireland begins to show signs of economic improvement, it is clear there are still a lot of unresolved issues in the pensions sector”

  • Features

    How do you colour-code that?

    February 2014 (Magazine)

    At Wasserdicht Pensioenfonds, some of our trustees have started to scrutinise our internal investment organisation.

  • Opinion Pieces

    Are they taking my job?

    February 2014 (Magazine)

    Had anyone told me that McKinsey and the Canada Pension Plan Investment Board (CPPIB) would challenge the institutional investment system as I’ve been doing, I’d have laughed. But when tipping points are reached, paradigm change can happen fast.  Coming hard on the heels of the Kay review and the UK fiduciary duty review, two insiders have acknowledged that institutional investor behaviour is harming business performance and society.