All IPE articles in December 2020 (Magazine)
View all stories from this issue.
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FeaturesResearch: Resilience is the new watchword
In the first of two articles, Pascal Blanqué and Amin Rajan ask whether the current volatility in asset prices is a buying opportunity or the halfway stage in a prolonged bear market?
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Country Report
Norway: Tangen’s reshuffle at NBIM
The colourful new CEO of Norway’s sovereign fund is targeting a more diverse and technologically resilient organisation
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FeaturesIs sustainability mispriced?
Living in the developed world over the past 50 years, life has been stable, even idyllic, for most people. That is certainly compared with their grandparents and previous generations who lived through two world wars and the Spanish flu. But, as COVID-19 has shown so cruelly, there are existential dangers that can lie hidden. These can rip the established world order asunder if not tackled beforehand.
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FeaturesPerspective: Markowitz is still modern
Thirty years after he was awarded the Nobel Memorial Prize in Economic Sciences, Harry Markowitz’s groundbreaking work from the 1950s still powers financial innovation
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Opinion PiecesImprovement required
Climate change will continue to be one of the most economically impactful events as it affects us all. It requires immediate and ambitious action to prevent the worst effects on people and biodiversity and it signals a message that nations need to build a more resilient and sustainable global financial system.
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Opinion PiecesResilience: how investors can secure it
Back in March 2020 as the extent of the coronavirus in western Europe was becoming clear, Risto Murto, president and CEO of the €49bn Finnish pension insurer Varma, called for the creation of “healthcare buffers” to mitigate the effects of future pandemics.
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Country ReportNorway's individual pensions: Pots follow member
New rules should drive consolidation and inject competition into the supplementary pensions business
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Opinion PiecesDeleveraging is no free lunch
After temporarily shutting down the global economy, governments are pursuing a massive fiscal expansion in order to support struggling businesses and consumers.
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Opinion PiecesJobs crisis threatens pension provision
Hopefully one of the few benefits of the COVID-19 crisis will be to show that the impact of an ageing population is exaggerated. There are other key elements informing the ability of a society to provide decent pensions by whatever means.
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Asset Class ReportsGlobal Equities – Social inequality concerns matter
The pandemic has revealed the short-term contradiction of companies taking from the public purse while continuing to pay or reinstating dividends. Investors are only just getting to grips with the long-term cost of social inequalities
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Opinion PiecesGuest viewpoint: Sir Ronald Cohen
We are on the threshold of another major shift in institutional portfolios. Impact transparency is changing the rules for both investors and businesses.
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InterviewsHow we run our money: Germany's BVK
André Heimrich (pictured), CIO of the Bayerische Versorgungskammer (BVK), and his team speak to Carlo Svaluto Moreolo about the pension fund’s global diversification strategy
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FeaturesBriefing: Feast or famine
With the end of the COVID-19 pandemic still out of sight, any forecast of the size of economic damage it will inflict has to be viewed with caution. Yet there seems to be a consensus that default rates on leveraged loans will stay elevated throughout 2021 and beyond.
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FeaturesUS endowments: Success breeds success
Perhaps no single group of institutional investors elicits as much fascination and admiration as US university endowments – in particular those of the Ivy League, and among that elite group the Yale and Harvard endowments in particular.
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FeaturesFixed Income, Rates, Currencies: Vaccine boosts bullish markets
The swings in outcome predictions as the vote counting began in the US election were large. From the realisation that there was no blue wave of Democrat success, to a possible re-election for Donald Trump, to a Joe Biden win but with a Republican Senate, it was tricky to comprehend the investment implications.
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Opinion PiecesLetter from Australia: Reforms not super for default funds
A string of government reforms due to come into effect from July 2021 has caught the superannuation sector off-guard.
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FeaturesStrategically Speaking: BlueBay Asset Management
Nowadays, it seems fair to ask asset managers whether they believe they can fulfil their clients’ needs while at the same time doing their bit to fight COVID-19.
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Country ReportIceland: A country unites around sustainable recovery
Iceland’s post-Covid 19 sustainability pledge to boost ESG and active ownership
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FeaturesBriefing: An unfortunate lack of ambition
The second Capital Markets Union (CMU) Action Plan of the EU Commission lacks ambition. This at a time when the EU Commission wants to set an industrial policy for the EU to bolster competitiveness in key sectors. It also comes shortly before the UK’s departure from the EU. Yet a vision of what the EU wants to achieve, by when and how, is missing.
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Country ReportSweden's AP funds: Alternatives are go
AP funds welcome the removal of the ceiling on their investment in alternatives
