Fund selection was inspired by performance on a virtual asset management platform
80% of institutional investors were satisfied or very satisfied with returns from ESG-tilted allocations
Candriam doubled its company meetings last year, while French asset managers expanded their international activity
Plus: NEST renews proxy voting contract, SP Forbo extends MN fiduciary contract
IPE deputy editor Daniel Ben-Ami on the new-look politics of Europe’s second-most populous country
Open letter to presidential candidates sets out proposals on Brexit, regulation, real economy financing and more
New law sets out rules governing ‘fonds de retraite professionelle supplémentaire’ to free up insurers’ assets
Plus: ERAFP awards €4.6bn of European equity mandates
Plus: CFA study puts industry at ‘existential crossroads’, iM Square targets growth
Pension reserve funds due to merge in bid to tackle funding deficit
Plus: Responsible investing becoming more important for alternative investment management
Plus: AMP Capital decides divestments under new ethical framework, Ircantec coal exit update, PRI proxy voting declaration system
Netherlands expected to get a centre-right government coalition, but negotiations likely to be drawn out
Pension reserve fund’s return-seeking portfolio returns 8.2%, hedging portfolio 3.1%
New mandates to replace those put in place for LDI strategy after 2010 pensions reform
New strategic asset allocation from December places more weight on equities, credit, real assets
Dutch pension managers buy €967m, while ERAFP and Ircantec join big French crowd
Mandates are part of €600m allocation to domestic private debt
French reserve fund appoints new ESG managers while civil service fund adds climate change researchers
Measures set out in white paper on boosting retirement saving in France
French pension schemes are up in arms over plans for a decree they say imposes harmful constraints on how they manage their assets. Susanna Rust reports
Gail Moss writes that French pension providers are looking to diversify their asset allocation to counter political and economic uncertainty
Appointing an overlay manager is the corollary of a new strategic asset allocation at the €9.8bn French public sector scheme. Susanna Rust reports
UK actuarial association issues ‘Risk Alert’ on climate change
Poll of pension scheme sponsors finds average discount rate has hit negative level after inflation
Regulator criticised for lack of transparency over negotiations with two oil and gas companies
The travails of defined benefit pension schemes and insurers are well known as they seek to meet liabilities made in previous decades in today’s ultra-low-rate environment
The current vogue for optimism about the prospects for the developed economies is overdone. There may be a slight cyclical upturn but its significance is limited
Registered users are entitled to the first digital issue of IPE with the compliments of the IPE.com team.
In contrast to complaints that Brussels’s legislation burdens the financial sector, the European Commission may be gratified by the positive response to its flagship Capital Markets Union (CMU) programme.
Nothing could be clearer. For the financial sector, at least, there is nothing to fear from Brexit. All the UK has to do is to apply to the EU’s rules – the crucial term ‘equivalence’
The European Commission’s project to set up a pension scheme for research and development professionals whose careers take them across EU borders has finally reached its first stages of operation.
The prolongation for 18 months of pension funds’ exemption from posting collateral when trading over-the-counter (OTC) derivatives is leading PensionsEurope to seek clarification.
There is increasing attention in Brussels on company reporting, taxation and offshore financial centres. The G20 and some OECD countries have demanded country-by-country reporting rules for multinational companies with a turnover over €750m
Legislation proposing pan-EU personal pension products (PEPPs) could be tabled in 2017, according to the European Commission
A former director of the European Association of Paritarian Institutions (AEIP) has proposed a new option for occupational pensions that could help the large number of workers whose careers take them across EU internal borders.
Valdis Dombrovskis has assumed responsibility as commissioner in charge of the flagship Capital Markets Union project. But he has also assumed the added complication of the withdrawal of the UK
It will not be the first time that proposed revisions to EU rules affecting finance and pensions get stuck in a logjam between interests groups
Pressure to clean up the financial sector has led to copious legislation from Brussels.
There are plenty of indicators of rising pressure to advance ethical standards across the financial sector. One outcome takes the form of mountains of clean-up legislation, including from Brussels.
Inadequacy of European national court systems in the financial sphere is due for overhaul. Upgrade is necessary if the EU’s capital markets union programme (CMU) is going to get anywhere, according to a high-status paper
Legislative moves to support the EU’s European Fund for Strategic Investments (EFSI) are being rushed through Brussels. But, so far, evidence of any torrent of fund movement by the institutional investment sector across EU frontiers has yet to emerge.
Conflict continues to simmer over the issue of passport rights for non-EU-domiciled hedge funds across the EU
It is a case of tackling one challenge after another in the Capital Markets Union (CMU). According to the European Commission, the present morass of different national insolvency rules creates a barrier to the flow of capital across the EU.
IORP II may have cleared the European Parliament’s committee stage but amendments tabled to the second directive covering occupational pensions since 2003 are so radical that it would be unwise to forecast its future.
Dismally low returns on EU pension fund investments over 15 years? The allegation comes in a study by Better Finance, the European Federation of Investors & Financial Services Users. The report, Pensions Savings: The Real Return, points to excessive fees, points to other charges, and badly framed taxation rules, as the culprits.
Brussels’ financial focus is on aggressive corporate tax planning and the related question of tax havens. This concerns the hedge fund ‘passport’ rights to do business across the EU and compliance of the offshore jurisdictions where they are domiciled to EU norms.
The process of making pensions policy in Brussels between now and end of the year resembles two juggernauts moving towards each other
The lack of demand rather than supply for both credit and capital is a common criticism from investors of the EU’s capital market union (CMU) programme