All Features articles – Page 61
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Features
Focus Group: The fall-out from Brexit
Thirteen (62%) of the investors polled for this month’s Focus Group expect the European economy will be worse off once Britain leaves the European Union
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Features
ESG: VW scandal presents choices
Investors in the scandal-hit German carmaker must make a choice between collective or individual action, or sitting out for the time being, according to Johan Polet and Jonathan Bakkers
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Features
Quantitative Easing: UK trustees locked in vicious circle
The Bank of England’s decision to re-launch its quantitative easing (QE) programme in August, has seen defined benefit deficits across the country’s 6,000 schemes rise to unprecedented levels
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Features
EC heeds concerns over EMIR sovereign-bond collateral rule
Pension schemes could be exempt from a diversification requirement relating to the use of sovereign bonds as collateral for non-centrally cleared derivatives
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Features
SWFs confound the sceptics
Despite reports that sovereign wealth funds are cashing in their assets to cope with falling oil prices, the sector is still growing
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FeaturesInterview: Daniel Kahneman
Daniel Kahneman won the Nobel prize in 2002 for insights from cognitive psychology that provided the basis for behavioural economics
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Features
Macro Matters: Globalisation is dead
Bob Swarup traces cycles of globalisation and deglobalisation in recent centuries and concludes that the world is now turning towards Deglobalisation 2.0
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Features
Diary of an Investor: Project Waffle
For some months now, the powers that be here at Wasserdicht headquarters have been looking at moving our Dutch pension fund over the border to Belgium
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Features
ESG: Trickle-up dynamics
How much ESG regulation starts its life as an EU directive and how much is introduced by individual member states? Jonathan Williams investigates
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FeaturesHow we run our money: Nationwide Pension Fund
Mark Hedges, CIO of the UK’s Nationwide Pension Fund, tells Carlo Svaluto Moreolo about the fund’s alternative assets portfolio
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Features
Pension funds should review LDI strategies
Several UK asset managers that specialise in liability-driven investment (LDI) strategies have underperformed their benchmarks this year. This has put a strain on their pension scheme clients’ funding deficits at the worst possible time
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Features
Sharp tools needed
Some contend that book reserve pensions took root in Germany because funded pensions, such as they were, had been wiped out in the hyperinflation of the 1920s
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FeaturesIPE Expectations Indicator September 2016
As time passes since the UK’s decision to leave the EU, some of the trends of the months prior have returned. This includes: outperforming US equity markets and dwindling faith in US dollar strength against the euro and yen (albeit with some volatility) and in sterling, which continues to drift lower after its post-Brexit decline. Whether managers’ expectations have recovered as quickly as these trends is the subject of this month’s review.
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FeaturesIPE Expectations Indicator August 2016
The expectation survey for August was completed in a post-Brexit market environment in which uncertainty was high, but cooler heads ultimately prevailed. Initial reactions caused a rebound in USD strength and an equity market sell-off, which was ultimately short-lived. Nevertheless, disrupted markets will influence expectations and results from the survey reflect managers’ concerns towards riskier assets.
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FeaturesHow we run our money: AP2
Tomas Franzén, chief investment strategist of AP2, the second Swedish buffer fund, explains the fund’s approach to long-term investment
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FeaturesIPE Expectations Indicator July 2016
During the survey period, managers experienced a different environment than during the two prior months. The dollar reversed its weakening trend, and commodity prices diverged as oil prices rose, metals’ declined, and coming screaming to the forefront of geopolitical headlines was the Brexit vote.
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Features
Pensions Accounting: Appeal of a lesser evil
The International Accounting Standards Board has agreed to investigate a last-ditch attempt to address the challenge of hybrid-risk plans. Stephen Bouvier explores the issues
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Features
Ahead of the Curve: Fund managers must face fire too
Matthew Spencer argues that investment managers should feel the pain when they under-perform and not just share in the upside
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Features
Asset Allocation: The big picture
While geopolitics and plain vanilla politics have been exerting huge influences on markets as we head towards summer, the macro news has continued to range from lacklustre to disappointingly poor
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Features
Political Risk: Anxiety to the fore
Investors are facing not just challenging markets but also increased political risk. Daniel Ben-Ami asks how they can tackle such uncertainty
