All Features articles – Page 53
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FeaturesIPE Expectations Indicator May 2017
A key metric for interpreting manager expectations is the difference between those expecting a rise and those expecting a fall. Having data to analyse, trends, trend shifts and historical highs and lows helps make things clearer. While there are many themes worth noting, there is only one universally negative point, which is historically low and in a strong downtrend.
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South Asia: Adjusting to new realities
The Indian subcontinent is adjusting to the realities of the new administration in Washington, writes Joseph Mariathasan
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Agirc-Arrco: Towards a unified regime
A two-sided reform appears to have saved Agirc-Arrco, which is soon to become a unified regime, writes Gilles Pouzin. But the new national president will lead the direction of further reforms
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Ahead of the Curve: Strange days in credit
Amar Reganti looks for alternative sources of capital gains and income streams within a moribund fixed-income asset class
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Asset Allocation: The big picture
With the eight anniversary of the risk asset rally passing in March, many have taken the opportunity to compare the longevity of this bull run to previous ones
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Insolvency Insurance: Behind the promise
Insolvency insurance stands behind German and Swedish book-reserve pensions, but the concept has not really caught on elsewhere
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Portfolio Construction: Benefits in being ‘insurance-like’
Sorca Kelly-Scholte and Michael Buchenholz say that pension funds can build better portfolios by adopting strategies used by insurers
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FeaturesObituary: Bernhard Wiesner, pension pioneer
Bernhard Wiesner died in March aged 62 in a motorbike accident in Mallorca, his chosen retirement refuge.
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Creative destruction is needed
The current vogue for optimism about the prospects for the developed economies is overdone. There may be a slight cyclical upturn but its significance is limited
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Diary of an Investor: Looking the part
We at Wasserdicht Pension Funds have been using BIG Asset Management for what seems like an eternity. I have learned two things about BIG over the years
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Discount Rates: An exercise of judgement
A pension fund sponsor in Ecuador has raised an important point about IAS 19 discount rates, reports Stephen Bouvier
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Global Economy: Is growth optimism justified?
Daniel Ben-Ami finds that while there are signs that the global economy might be bouncing back, doubts are being raised by the weakness of the recovery
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A misunderstood shift
The system-level implications of shifting from defined benefit to defined contribution pensions systems could be dangerously misunderstood
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FeaturesFrom Our Perspective: Pension roads to Rome
Around the beginning of the 2000s enthusiasm for pension funding was at a high. As Germany took measures to unwind the cosy ‘Rhineland capitalism’ cross-share-holdings, book reserve pension liabilities seemed like yesterday’s solution
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Transition problems
The travails of defined benefit pension schemes and insurers are well known as they seek to meet liabilities made in previous decades in today’s ultra-low-rate environment
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FeaturesIPE Expectations Indicator April 2017
The latest manager poll has two main themes: markets are weak and levels of sentiment are extreme.
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Accounting: The inflation challenge
Stephen Bouvier looks at the complications pension plan sponsors face when calculating the pension liability of their schemes under IAS 19
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Accounting: Are pension expenses ‘faked’?
Alfred Gohdes offers a personal view on an approach to reduce pension cost under US GAAP and IAS 19
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Ahead of the Curve: A real asset in DC plans
Vince Childers says that in today’s environment, real assets can provide diversification, long-term return potential and inflation protection
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Asset Allocation: The big picture
So the world economy continues to expand, albeit at quite a modest pace. Many observers remain cautious that this upswing will go the way of all the other post-financial crisis recoveries and run out of steam, perhaps soon. But the synchronisation of these reflationary signs across the world gives others hope that the current growth upturn will be sustained.
