Columns – Page 5
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Opinion PiecesDelay looms to Netherlands reform process
The Dutch government has vowed to finalise the country’s hotly debated switch to a pension system with defined-contribution variants by 1 January 2023.
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Opinion Pieces
Pension funds and asset managers: Are you a Yamaha or a Steinway?
In the 1970s, Genichi Kawakami, president of Yamaha Corporation from 1950-77, wanted his pianos to rival those of Steinway.
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Opinion Pieces
Investors should require companies to tie executive pay to ESG targets
Stuart Kirk, global head of responsible investing at HSBC Asset Management, has been suspended for saying that investors need not worry about climate risk. Those among the company’s clients who are concerned with sustainability may be relieved that he has been suspended, but there remain questions about greenwashing at the company and within the whole asset management sector.
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Opinion Pieces
Illiquid assets could bring cost burden
Last month the UK’s Department for Work and Pensions (DWP) closed its consultation on ‘Facilitating investment in illiquid assets’, which sought views on policy proposals and draft regulations designed to improve the accessibility of illiquid assets for defined contribution (DC) pension schemes.
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Features
Fiduciary managers must do better on ESG transparency
What sets one fiduciary manager apart from another? These days, it is increasingly hard to tell between the leaders. As a fiduciary manager myself, this view may seem counterintuitive but it seems to me that this part of the investment world is getting less distinct in its capabilities, resources and even its messaging.
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Opinion Pieces
Viewpoint: Global custody for pension schemes – are you paying more than your neighbour?
The landscape for custodians has changed significantly
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Opinion Pieces
Viewpoint: Swap spreads at stress levels
Asset swap (ASW) spreads are currently trading at historically high levels as volatility in rates markets has remained high. We believe there is an opportunity for continental European pension funds to enter into Euribor receiver swaps and sell Bunds in their matching portfolio. Indeed, we expect that the peak in ...
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Opinion Pieces
Viewpoint: Modelling a longevity shock – A £1bn scheme would need to find £120m
By Howard Kearns, longevity pricing director at Insight Investment
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Opinion Pieces
Robust central clearing is critical for millions of Europeans
Derivatives like interest rate swaps are now a central component of risk management best practice. According to a 2018 paper by ISDA and PensionsEurope, the percentage of hedged pension liabilities in Denmark, the Netherlands and the UK ranges from 40-60% of total liabilities.
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Opinion Pieces
Seesawing rates pivot European pension funding ratios
Many pension funds throughout Europe have had insufficient funding ratios for many years in part due to falling interest rates, even though pension funds’ investment choices and contribution levels also play a role.
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Opinion Pieces
Shareholder action to curb corporate lobbying is urgent
Corporate lobbying has always existed, but only in recent times have investors concerned with sustainability started to monitor the impact of the lobbying activities of their investee companies.
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Opinion Pieces
Notes from the Nordics: Finland on the frontier
Fear and uncertainty are rattling markets, but financial concerns are dwarfed by the human suffering caused by the war in Ukraine. In Finland, people have particular reason to worry due to the country’s long land border with Russia.
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Opinion Pieces
Viewpoint: Why the UK Investment Bank must nurture nature
By Gavin Templeton, partner at Pollination
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Opinion Pieces
Viewpoint: Post-war Ukraine
Post-war Ukraine offers threats and opportunities. Peter Kraneveld says it will pay to keep an eye on some key factors
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Opinion Pieces
Viewpoint: Invasion reactions show pension funds are more than investors
Before the Russian government’s decision to invade Ukraine at the end of February, the exposure of European pension funds to Russian assets was relatively low, and in some cases non-existent. Nevertheless, those funds that did invest in Russia acted quickly to reassess their exposure and divest from Russia entirely when possible, given the treacherous market conditions.
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Opinion Pieces
Germany's debate on pension reform edges forward
The war in Ukraine, an unspeakable human tragedy, is forcing governments around Europe to reset international relations and find new partners to secure energy sources. The invasion has strongly tested the intent of the new German government to break with the previous administrations of Angela Merkel.
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Opinion Pieces
UK's pension dashboard project should prioritise accuracy over simplification
The UK’s Department for Work and Pensions (DWP) consultation on the draft Pensions Dashboards Regulations 2022 closed last month. The DWP now aims to lay the regulations before parliament for debate later in the year.
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Opinion Pieces
The Ukraine war and what it means for pension funds
A health check for pension funds as Russia’s invasion of Ukraine raises questions about diversification and energy
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Opinion Pieces
Viewpoint: Inflation – becoming yesterday’s story
Although fears of an inflationary spiral may seem justified, a deeper analysis suggests otherwise
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Opinion Pieces
Viewpoint: A new kind of political risk
Peter Kraneveld argues that investors should take the possibility of future economic and financial sanctions against other countries seriously
