All IPE articles in December 2012 (Magazine)
View all stories from this issue.
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Country Report
Switzerland: Transparency required
The current redistribution of funds from active employed members to pensioners can be traced back to structural deficiencies, argues Gérard Fischer. Introducing separate accounting for active members and pensioners would be an effective move
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Country Report
Switzerland: To hedge or not to hedge
Nina Roehrbein finds pension funds facing a dilemma over their currency hedging strategy as the Swiss National Bank maintains its floor to the euro
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Asset Class Reports
Hedge Funds: Trust… but verify
Good hedge fund due diligence takes 120 hours plus 90 hours per year ongoing. But responsible investors have no choice but to do it, argues Jerome Lussan
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Asset Class Reports
Hedge Funds: Owning hedge funds
Neuberger Berman has launched Dyal Capital Partners to buy minority stakes in hedge fund businesses. Martin Steward reports on how it changes the dynamics for hedge-fund investors
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Country Report
Switzerland: Design fault
Conflict between active members and retirees, costs and market factors will all drive changes to the Swiss second pillar, according to Barbara Ottawa
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Features
Rise of CTAs and global macro
Of the 59% 0f respondents to this month’s survey that do invest in hedge funds, 10 invest via funds of funds and 10 invest direct – confirming a trend to combine the two approaches to the market. One UK fund confirmed that it was moving from funds of funds to ...
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Asset Class Reports
Hedge Funds: Changing rules
Joseph Mariathasan loks at the raft of regulation coming the way of hedge funds, focusing on the pros and cons of the EU’s AIFM Directive
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Country Report
Switzerland: Caution reigns supreme
Andreas Niedermann and Jürgen Rothmund note that Swiss institutions have not abandoned their euro hedge
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Country Report
Switzerland: Happy anniversary, OAK
A year into its existence, response to the new Swiss supervisory body, the Oberaufsichtskommission, has been mixed. Some want it to do more, while others would like to hear as little from it as possible, writes Barbara Ottawa
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Opinion Pieces
Amin Rajan: 'Pension funds demand discipline, but discipline can stifle hedge funds' creativity'
First, the good news: assets under management in hedge funds have not only surpassed their previous peak of around $2trn (€1.6trn) reached in 2007, but they are also likely to attract another trillion dollars by 2016, according to ‘Institutional Investment in Hedge Funds’, a survey by Citi Prime Finance.
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Asset Class ReportsHedge Funds: Alpha-hunting with funds of funds
Peter Meier, Oliver Liechti and Patrick Dütsch run hundreds of FoHFs through a factor model and find those focused on trading strategies delivering the best returns and the highest alphas
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Special Report
Outlook 2013: Euro Scenarios: Getting prepared
Ben Gunnee considers the back-office and trade infrastructure implications of a country exiting the euro
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Special Report
Outlook 2013: Euro Scenarios:The disastrous and the unpalatable
Emma Du Haney offers a survey of the political landscape across the euro-zone and outlines both investment and operational risk-management priorities for the eventuality of a break-up
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Special Report
Outlook 2013: Euro Scenarios: Open for business
Lynn Strongin Dodds finds most investment managers looking favourably on European equity markets once again
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Country Report
Switzerland: How to avoid Gloor 2.0
A lack of staff, organisation and control were the main factors contributing to the corruption scandal at the pension fund of the canton of Zurich (BVK), a parliamentary commission has found. Barbara Ottawa asks whether new regulation will actually help prevent future cases
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Features
Storm-ready
Devastating natural phenomena are measured with two types of intensity scale. Hurricanes have the Saffir-Simpson scale for wind speed, for example, but also the Fujita scale that measures property damage.
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Features
Worriless provision
Samuel Lisse tells Nina Röhrbein about Vita Sammelstiftung’s semi-autonomous model
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Features
No panacea
The coming weeks are scheduled to see the publication of the European Commission’s Green Paper on long-term investing, announced by the single market commissioner Michel Barnier earlier this year.
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Opinion Pieces
Long Term Matters: A preventable surprise
The world has been hit recently by a tsunami of corporate disaster. Then came the LIBOR scandal.
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Opinion Pieces
Letter from the US: Pension uncertainties
Social Security reform was notably absent from the 2012 US presidential campaign.
