All Features articles – Page 306
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Features
Handling the mismatches
Matching of assets to liabilities should be the pension fund’s prime concern. For deferred liabilities and pensioners the matching asset class is evidently bonds, but few schemes own bonds with a maturity profile that matches the probable outflows of cash. At the long end there are few bonds available in ...
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Features
Jump in - the water's lovely
European institutional investors are catching up their US counterparts in using hedge funds as a risk diversifier. Although some pension funds, such as the ATP or Tapiola schemes in Denmark and Finland, respectively, are not investing in hedge funds, others are waiting for board approval, such as the Netherland’s Blue ...
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Features
'We offer pension plans tailor made risk reduction'
Delta Lloyd Asset Management is one of the big players in the Netherlands in institutional asset management. The company is a division of the insurance company Delta Lloyd, which in itself is part of the UK Aviva Group. Delta Lloyd Asset Management offers traditional asset management plus various possibilities to ...
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Features
Managing risks using swaps
The recent market environment has proved difficult for Europe’s second tier pension systems – following a bull run in bonds and a painful bear market in equities, funded pension systems have felt the strain over the last few years. The impact of this has varied by market and degree of ...
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Features
Managing the paradox
In a special joint interview at ING’s global headquarters in Amsterdam, Dick de Beus, chairman of the health care fund PGGM, and Jan Nijssen, global head of pensions at ING, shared their thoughts. IPE: What are the main issues facing people like yourselves in your positions on a day-to-day ...
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Features
Is the run over?
Although some recent reports suggest demand for emerging debt is set to weaken, the popularity of this asset class doesn’t appear to be subsiding. According to April’s report by the International Monetary Fund, rising US interest rates and a falling US dollar threaten to end two years of growth in ...
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Features
PPPs a panacea for pensions?
Equities outperform bonds long-term! Pension funds are for privileged investors as, because of their long-term liablility profiles, they do not need to care about the short-term volatility of equities. This means that pension funds can hold the highest exposure in equities that the individual liability profile of the fund justifies. ...
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Features
Pay-back time in Tokyo
For many, Japan was the surprise performer of the last 12 months, with a return of 49.6% over the fiscal year to March 2004. Most fund managers in the region anticipate strong earnings in the current year, driven by corporate structural reforms and a global and domestic cyclical recovery. Japan ...
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Features
Seeing through transparency
A survey conducted last year by Deutsche Bank found that over one-third of hedge-fund investors require managers to provide detailed information about the holdings and risk in their portfolios. Yet, according to an earlier report by Capital Markets Risk Advisors (CMRA) in association with the Alternative Investment Managers Association, while ...
