All IPE articles in December 2018 (magazine)
View all stories from this issue.
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Country ReportConsultants satisfied with competition inquiry outcome
Most institutional advisers accept CMA’s recommendations after months of robust debate with regulators
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Special Report
Strategy Selection: Is it worth the risk?
Investors in multi-asset strategies must make sure they understand all the risks involved
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Special ReportPerspectives: Rising rates pose questions
The anticipated rise in interest rates urges pension funds to review their liability-management strategies
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Features
What next for US Treasuries?
A consensus on the direction of 10-year US Treasury rates is not obvious, because the answer reverts to a further question: whose consensus? Strategists, economists and other informed professionals have a particular view. The market itself, however, expresses a more diffuse and different opinion.
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Country ReportSwitzerland: In need of a reformist zeal
The Swiss pension system needs reform but consent is needed in a federal referendum. Have politicians learnt from campaigning during the rejected Altervorsorge 2020 proposals?
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FeaturesThe right tool for the job
Applying economics models to understand politics is like trying to use a trowel to saw a piece of wood in half
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FeaturesInterest rates are not a one-sided risk
Pension funds should always act as long-term investors whenever possible
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Interviews
On the Record: The question of hedging
We asked two European pension funds how they hedge against interest rate risk, as the probability that interest rates will rise over the few next years grows
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FeaturesLiabilities remain in focus
Given overall pressure on funding rates and falling asset markets, 2019 looks set to be a year where good governance and adaptability to external events will be crucial
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Special Report
Multi-Asset Funds: A flexible way to generate income
Multi-asset funds that take account of investor goals and time horizons could provide steady income
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Country Report
Risk Management: Is everything still good?
Swiss pension funds have coped well with the financial crisis, but appearances can be deceptive
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Special ReportEuro-zone: The risks of reversal
The impact of monetary tightening is one of investors’ main concerns for 2019
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Asset Class Reports
Global Equities: Valuation vagaries
Mean reversion is useful in valuing stocks, but there are many unpredictable factors that can disrupt long-term assumptions
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Features
How do investors view the future of the EU economy?
Cyclical recovery or secular healing? That is the big question behind the European Union’s economic bounce after its ‘lost decade’ – the toughest period since the founding of its predecessor, the European Economic Community, in 1957.
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Country Report
ESG: Still the ugly duckling
ESG is still an unpopular investment strategy in Switzerland. How will it overcome this lack of enthusiasm?
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Country Report
Mortality: How a year makes a difference
Swiss longevity assumptions have substantial effects on key technical figures in Pensionskassen
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Special Report
Multi-Asset Strategies: Worrying developments
Late-cycle dynamics, geopolitical tensions, trade wars and uncertainty surrounding Brexit are making investors jittery
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Features
ESG: Scheme to develop green mortgages
Lenders see an apparent correlation between energy efficiency and lower defaults
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Features
Macro Matters: Currency returns to the fore
Global tension means exchange rates will again become a key mover of investor decisions
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Country Report
Werner Hug: Less complexity, more solidarity
The Swiss second pillar has become too complex and lost sight of its original principle of employer patronage towards employees
