All Features articles – Page 105
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Features
Have bond markets become myopic?
In this month’s commodities report we address two phenomena – the slowdown and transition of China’s economy, and the US shale gas revolution – that could profoundly change our entire macroeconomic framework.
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Features
Brussels pulls a Green Paper out of its hat
The pension industry’s lobbying campaign over the revised IORP Directive seems to be bearing fruit. Not only has Brussels agreed to postpone the publication of a draft version of the Directive until next summer, the Commission is also set to launch a Green Paper on long-term investing.
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Features
Schemes get on track for central clearing
The European Market Infrastructure Regulation (EMIR) – like most new legislation – has its share of critics. It will hit derivatives players, of course, who have lamented the increased costs the new rules will entail. But it could also have a deep impact on pension funds and their governance.
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Features
The managed decline of DB pension funds
The death of defined benefit (DB) funds has, in some form, been prophesied for decades, but the latest threat of closure – stemming from the publication of statutory guidelines on Ireland’s new funding standard – may well prove to be a real and insurmountable threat to final salary schemes in the country.
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Features
Long live the deal...
The Dutch pension deal, as such, is off the table. But despite all the political turmoil, a working group representing experts, government, supervisors and various stakeholders has continued to hammer out the details of the new system, resulting in the long-awaited outline presented on 30 May. The pension deal is dead. Long live the pension deal.
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Features
Focus Group: Still life in the ‘supercycle’
Eighteen respondents (56%) to this month’s Off The Record survey had commodities or commodity futures in their portfolio.
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Features
Looking to IORP III?
The European Commission’s decision to postpone to summer 2013 its white paper on the IORP II Directive represents yet another delay in a highly protracted process that has to balance the need for reform of the first IORP Directive, the interests of occupational pensions and the insurance industry, as well as the Commission’s desire, as a lead global initiator of financial services legislation, to test the limits of its competence in harmonising EU laws.
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Features
The sustainability of longevity
As longevity becomes an increasing problem in developed nations, governments have moved to increase retirement ages, with some either considering or legislating for an automatic link to longevity. Despite its popularity among both national parliaments and the European Union, however, the OECD has warned that any such link could be very difficult to implement.
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Features
Vision to reality
Who’s ahead in the race for cross-border pension assets? Gail Moss reports on factors behind the choice of domicile
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Features
Unconventional wisdom
The search for yield is leading investors to hunt down illiquidity premia. Florian de Sigy and Benjamin Keefe make the case for secondary hedge fund interests
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Features
Risky business
Some 43% of the respondents to this month’s Off The Record survey had investments that were not benchmarked. Of those respondents that did, it is no surprise that illiquid and non-listed assets dominated – real estate, infrastructure and private equity – along with some absolute return and cash mandates.
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Features
Look closely in the land of the cuckoo clock
Switzerland. Picture perfect, with its snow-capped mountains, glistening lakes and clean air. In fact, air pollution is a major environmental concern in Switzerland.
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Features
Engagement prompts accountability
Proposals for a binding vote on shareholder remuneration, as set out by the UK department for business, innovation and skills earlier this year, could give institutional shareholders a platform to speak out on an issue that has grown in importance since the crisis.
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Features
Pensions Accounting: Don’t hold your breath
In short, the answer is ‘no’. The International Accounting Standards Board (IASB) is not going to add a pensions accounting project to its agenda.
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Features
Greece will have to ‘win ugly’ again
With hindsight, it all peaked at 20.42pm, eight years ago on 4 July.
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Features
Diary of an Investor: We all agree… but
Everyone agrees about the problems. And everyone agrees that institutional investors need diversified, long-term, risk-managed portfolios to help them meet their liabilities. At least, that is what I concluded after I attended the latest Worldwide Institutional Investing Conference in London last month.
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Features
Boarding time approaches
For liquid investors with an eye on the medium term, investing in the maritime industry could be just the ticket, argues Marcel C. Saucy
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Features
Avoiding the shadows
Iain Morse reports on the growing use of real-time collateral management
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Features
Bad news travels
Thanks to potential underfunding, most Dutch pension schemes have already announced they will cut pension payments.
