Columns
Viewpoint: How has the pandemic affected the UK – small-cap value investing
By Beini Zhou and Anand Vasagiri, portfolio managers, international small-cap value strategy, Artisan Partners
Viewpoint: What pension schemes should consider when upping renewables
Renewity’s CIO, David Hunter, outlines five considerations for pension schemes looking to up their renewables exposure
Viewpoint: What if COP26 fails?
Peter Kraneveld, international pensions adviser at PRIME bv., on finance issues and COP26
Notes from Germany: Parties mull pensions
It all started with a selfie posted on social media. The leaders of the Green party Annalena Baerbock, candidate to be chancellor, and Robert Habeck posed with the Free Democrats’ Christian Lindner and Volker Wissing to show how serious they were to bridge the divide to form a new government coalition, prior to meeting with the winner of the election, the SDP’s Olaf Scholz.
Co-investment newcomers need to be selective
The US and UK are seeing a diminishing number of companies in the listed markets whilst the private equity (PE) markets are booming. For investors, that raises a number of issues, of which fees are an important one. Private equity fees are much higher than those of listed equity managers.
Engagement, divestment and emerging alternatives
Investment analysts make contrasting buy and sell recommendations for individual securities based on identical financial information – down to the last decimal point. The differential is judgement.
Green bonds – a ‘no-brainer’ paragon
Institutional investors are constantly searching for the elusive ‘no-brainer’ investment: the one that offers clear additional benefits without additional risk
Viewpoint: Why we need deforestation-free portfolios by 2025
‘If we are to address climate change, we need to put an end to deforestation’
Consultants’ education role in net-zero world
Investment consultants play a crucial role within the savings and investments arena. They provide strategic advice to asset owners (pension funds, sovereign funds, endowments, insurers, and others) relating to strategy, asset allocation, asset manager selection and – now more importantly than ever – investment beliefs.
Notes on the Nordics: Moves may set up net-zero goal for GPFG
Two events have happened in quick succession that increase the chances of Norway instructing its huge sovereign wealth fund to push for net-zero greenhouse gas emissions in its investment portfolio.
Pension funds should seek fee reductions in private markets
Pension fund investment in non-listed assets has grown considerably since the 2008 global financial crisis.
An alternative pensions future
It’s no real news that ageing is changing our society in numerous ways – from simple things like product design (making smart phones for older eyes and fingers to use) to more generationally diverse workplaces.
Letter from US: University endowments setting the pace on fossil fuel divestment
US university and college endowments control more than $600bn (€517bn) of investments. Their policies often influence the behaviour of public pensions. So it is interesting to see whether Harvard’s recent decision to end its investments in fossil fuels will be followed not only by other universities but also by retirement systems.
Letter from Australia: Super funds: shame in a name
Named and shamed! Thirteen Australian superannuation funds have been forced to inform their million-plus members that they have failed an inaugural superannuation performance test mandated by the financial regulator, the Australian Prudential Regulation Authority (APRA).
Letter from Australia: Public places, private matters
AustralianSuper marked a milestone with its successful takeover in 2019 of education provider, Navitas, for A$2.1bn (€1.3bn).
Letter from US: SEC looks towards mandatory ESG disclosure by companies
October will be an important month for investors and corporations as the Securities and Exchange Commission (SEC) will then propose new rules on climate change and other environmental, social and governance (ESG) issues.
Letter from Australia: Too good to be true?
If Australia’s latest five-yearly Intergenerational Report (IGR) is to be taken seriously, Australian retirees can look forward to comfortable retirements 40 years hence.
Letter from US: Hybrid plans in focus
The move from defined benefit (DB) pension plans to defined contribution (DC) has been ongoing for years in the US, both in the private and public sector. But more recently many state and local governments have adopted hybrid designs.
Books: It all boils down to the three Ds
Paul Marshall’s pocket guide to fund management covers multiple subjects, each of which really deserves its own book. Nonetheless, he writes well, and has produced a diverse and entertaining work.
Book review: Radical Uncertainty by John Kay and Mervyn King
Within the terms of their own analysis, the authors of Radical Uncertainty might be remembered for a prescience they could neither possess nor aspire to
Book review: The Signs Were There - Spilling the saucerful of secrets
Tim Steer’s romp through the world of dodgy accounting practices and share price debacles is beyond shocking. He brings together his forensic examinations of publicly quoted companies’ accounts, and demonstrates clearly that “the signs were (indeed) there” in a way that induces reader incredulity.
Book review: Only the Best Will Do
Peter Seilern, the founder of Seilern Investment Management, has a reputation for investing in ‘quality growth companies.’ In reading his credo ‘Only the Best Will Do,’ you realise this career-long passion reaches almost religious dedication. Never mention ‘value investing’ in his presence.
Book review: Achieving Investment Excellence
Fix asset allocation and the numbers will follow. This rule of thumb originated from an influential study published in 1986, which showed that 93.6% of variations in a portfolio’s returns are due to asset allocation policy.
Book review: The Rise of the Working-Class Shareholder
David Webber is well placed to rehearse the legal and political arguments around public pension funds’ power to change companies
