Derivatives
In-depth reporting on derivatives investing for our pension fund and asset management readers from IPE’s award-winning journalists.
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NewsDNB reassures Dutch funds on interest rate hedging impact
Dutch pension sector is worried that government bond trades upon switching to defined contribution arrangements could squeeze liquidity and move markets
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NewsDutch pension funds continue to increase interest rate hedges
The increases in hedging ratios come as the moment pension funds will convert DB accruals to DC capital is edging closer
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NewsMediahuis pension fund hedges all equity risk in run-up to DC transition
The pension fund deployed a put options strategy more than 2.5 years before its planned transition to a defined contribution arrangement
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NewsClimate policy uncertainty drives risk premiums in commodity options, says WFE
New study discovers climate risk premium after analysing proprietary dataset featuring two iron ore option contracts
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NewsKeva fined for failing to make sure derivatives contracts were reported
CEO of Finland’s largest pension fund says Keva suffered no financial damage from the issues
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NewsNorwegian SWF manager defends securities lending
Folketrygdfondet’s bonds chief Sæbø says lending shares ‘naturally belongs to a long-term investor’
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NewsPKA extends green credentials to swaps exposure with $1bn Osmosis deal
Danish labour-market pensions firm uses new product as Osmosis fills “important gap in the market”
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NewsSampension sticks to cautious equity tactics, with central banks in a bind
Danish labour-market pensions firm regrets early roll-back of equities exposure
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NewsEuropean trade associations slam active account requirement
Further efforts should focus on streamlining the supervisory framework for EU central counterparties across member states
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NewsGerman schemes could face further liquidity risks
Substantial rating downgrades of securities held by German investment funds could lead to high outflows
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NewsEIOPA says national supervisors need more data on liquidity risks
European pension funds, insurers holding up well despite higher stability risks, says latest risk report from EU pension and insurance watchdog
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NewsBVI slams ESMA’s draft guidelines on ESG, sustainability labels
EFAMA highlights concerns about proposed numerical threshold approach
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NewsAssociation quartet addresses European Commission’s EMIR proposed amendments
‘These measures, as proposed, would be harmful to EU capital markets,’ the associations said
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Opinion PiecesGuest viewpoint: The importance of asking the right questions about derivatives and net zero
“What is the carbon footprint of my portfolio?” is thought as the most dangerous question in sustainable investing. But do investors stop and ask: “Why am I measuring the carbon footprint? And how am I planning to manage it?”
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FeaturesEuropean Commission announcement brings some clarity to derivatives clearing
Many unanswered questions linger after the departure of the United Kingdom from the European Union. However, a recent announcement by the European Commission (EC) promises to bring some much-needed clarity to the derivatives market.
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NewsEC proposes EMIR amendments to make EU clearing more attractive
The Commission aims to build a ‘safe and resilient’ clearing system, by strengthening the EU supervisory framework for CCPs
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Danish FSA says pension fund liquidity risk needs close follow-up
Watchdog concludes there is no immediately significant rise in liquidity risk, in new assessment ahead of next June’s central clearing deadline
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Special ReportHow green are green derivatives?
On 6 April 2022 the European Commission announced that derivatives, including futures, swaps and many other instruments routinely used by ETF providers, cannot be classified as ESG or sustainable or green in investment fund reports.
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West Yorkshire Pension Fund to use derivatives ESG risk framework
Framework will be used to build an ESG-aware derivatives overlay as fund gradually builds its portfolio of illiquid, alternative assets
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Commission grants final central clearing exemption for pension funds
Pension schemes will be expected to clear via EU CCPs, says Mairead McGuinness
