All Features articles – Page 117
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FeaturesEDHEC-Risk Efficient indexation: an alternative to cap-weighted indices
Felix Goltz, Head of Applied Research, EDHEC-Risk Institute and Director of Research & Development, EDHEC-Risk Indices & Benchmarks Patrice Retkowsky, Senior Research Engineer, EDHEC-Risk Institute and Deputy Head of Research & Development, EDHEC-Risk Indices & Benchmarks
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FeaturesEDHEC-Risk Integrated approach to sovereign wealth risk management
Bernd Scherer, Professor of Finance, EDHEC Business School, Member, EDHEC-Risk Institute
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EDHEC-Risk Inflation-linked corporate bonds and the optimal design of debt programmes
Lionel Martellini, Professor of Finance, EDHEC Business School and Scientific Director, EDHEC-Risk Institute Vincent Milhau, Senior Research Engineer, EDHEC-Risk Institute
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NAPF gets to grips with SIPs and BRICS
Lord Hutton’s final report on UK public sector pensions was not the only matter discussed at the National Association of Pension Funds (NAPF) Investment Conference in Edinburgh, although the presence of the former work and pensions secretary was certainly felt.
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Germany’s fiduciary confusion
The simmering debate over institutional interest in fiduciary management in Germany – or rather the lack of it – has boiled over in recent weeks, with an array of consultants and asset managers weighing in on costs, transparency, conflicts of interest and even the very meaning of the term.
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From our perspective: What’s your co-operation plan?
As long-term expected portfolio returns settle at modest annual rates of well under 10%, basis points really do count as the pension fund community – and its sponsoring stakeholders – look to deliver pensions at a reasonable cost to all concerned.
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Credit to lending
Many pension funds canned their securities lending programmes outright in 2008 but have now recovered their nerve. However, Iain Morse argues that regulation is now likely to drive the future shape of the industry
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Features
EDHEC-Risk Indices in institutional investment management: results of a European survey
Noël Amenc, Professor of Finance, EDHEC Business School, Director, EDHEC-Risk Institute Felix Goltz, Head of Applied Research, EDHEC-Risk Institute Lin Tang, Research Assistant, EDHEC-Risk Institute
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FeaturesEDHEC-Risk Institutional investors’ views on exchange-traded funds
Felix Goltz, Head of Applied Research, EDHEC-Risk Institute and Director of Research & Development, EDHEC-Risk Indices & Benchmarks Lin Tang, Research Assistant, EDHEC-Risk Institute
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Features
Signs are up for ESG
More than 70% of respondents to this month’s Off The Record survey stated their fund had an ESG policy. A Dutch fund commented: “Our participants put a lot of attention on sustainability. We have a long-term view and believe sustainability is an important theme, [and] have included it in our ...
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Features
Liam Kennedy: Risk handicap
“Political risk is the hardest of all to handicap”, a well-respected analyst told me recently. Many investors largely disregard the political risk factor in emerging markets after the likes of Goldman Sachs successfully propagated the BRICs narrative and the old story of ‘risky’ emerging markets and ‘safe’ developed markets was ...
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Martin Steward: Longevity risk, rewarded and unrewarded
“You must hedge your unrewarded risks!” pension funds are told. But what are unrewarded risks? “Interest rate, inflation and longevity risk, for starters.” Sure, but why do we call them ‘unrewarded risks’?
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Diary of an Investor: Whisky and cigarettes
It was a good year for Wasserdicht Pension Funds. The 2010 return for our Dutch scheme was 7.9% and although we experienced a wobble in our coverage ratio over the summer, thanks to interest rates, we are now back in safe territory.
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Features
Paved with good intentions
Last year, I attended the pensions Green Paper Conference in Brussels, and afterwards I happened to share a taxi to the airport with UK pensions minister Steve Webb. Apart from the fact our dyspeptic Belgian driver felt the need to fling epithets at every other car on the road while puffing on a cigarette, the journey was memorable for one other reason.
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How independent is the Old Lady?
Neil Record worries that the Bank of England’s bias towards low rates correlates with a political imperative to inflate away public and financial sector debts. So is monetary policy now controlled by Whitehall, rather than Threadneedle Street?
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Structural importance
Although not a legal necessity, committees are important to the efficient running of pension schemes. Gail Moss looks at their requirements and role
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Leader of the pack
Nina Röhrbein spoke with Giorgio Valzolgher, managing director at Laborfonds, the not-for-profit pension fund that any employee in Italy’s Trentino-South Tyrol region can join
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The L’Oréal principle
As if the IASB’s pensions project was not already bizarre enough, the 16 February 2011 meeting set the scene for one of the most bewildering exchanges between a board member and the staff yet.
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Features
Maltese persuasion
Malta is benefiting from the trend of near-shoring in the securities services business, writes Iain Morse
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X marks the spot
The hinterland between investment grade and high yield delivers an intriguing risk profile. But Martin Steward also finds that profile changing
