All Features articles – Page 97
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Features
Quest for the ‘golden’ discount rate
We cannot foresee the long-term future, however much we would like to think we can, argues Alf Gohdes
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Features
A tragedy of small decisions
Bob Swarup and Dario Perkins look at the latest developments in the euro-zone crisis and warn that while history doesn’t repeat itself, it does rhyme.
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Features
Is the fiduciary duty debate just for show?
It is hard to argue with the assertion that the fiduciary duty placed on investment intermediaries could be seen as a moral duty, a way of behaving, a form of conduct – to borrow a phrase recently employed by Daniel Godfrey, head of the UK’s Investment Management Association.
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Features
The dangers of codifying fiduciary duty
Fiduciary duty is a vague concept under UK common law that can be used in arguments both for, and against, sustainable investing.
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Features
Choosing the middle way
René Biner offers a 21-year data set that reveals surprising facts about historical loss rates in European mezzanine debt – and the advantages of vintage-year diversification
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Features
Leave nothing to chance
The advent of auto-enrolment in the UK has heightened focus on the need for robust risk management systems for DC plans. Gail Moss looks at a range of approaches
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Features
Taking risk budgeting a step further
An analytical framework at the fund selection stage can help spare DC fund participants the pitfalls of a more advanced approach to diversification, writes Thierry Roncalli
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FeaturesRussian pensions are booming
Reform of Russia’s supplementary pension system is having a strong and positive impact, while further regulatory changes are on the cards for 2013, writes Alexander Lorenz
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Features
Battling for Poland’s second pillar
First came Hungary, then Portugal, followed by Ireland. The financial crisis has pushed governments across Europe to treat private pension savings as legitimate sources of cash to help reduce their national deficits.
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Features
Two sides of the longevity balance sheet
For Peter Drucker, writing in the Harvard Business Review in 1997, demographics were “the future that has already happened”.
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Features
Bridgewater rated highest at IPE’s inaugural asset manager awards
Bridgewater Associates received the top commendation in the first IPE Pension Fund Perception Programme (PFPP) Awards for asset managers, winning the accolade for the manager highest rated by clients.
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Features
Is Antifragile applicable to pensions?
Conrad Holmboe and Patrick O’Sullivan apply Taleb’s ‘antifragile’ idea to the pension fund world
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Features
A few words of advice…
As the International Accounting Standards Board and the International Financial Reporting Standards Interpretations Committee continue to deliberate the discount-rate objective in IAS 19, Stephen Bouvier invited Falco Valkenburg, one of Europe’s leading consultant actuaries to set out the challenges facing the standard setters
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Features
Diary of an Investor: It’s all about feeling in control
Our friends at PensionKøbenhavn have been visiting us here in Amsterdam. Last year, our two boards signed a mutual co-operation agreement with our Danish counterparts to start investment joint ventures. More informally, we both hope that we will also benefit from regular sharing of investment knowledge and experiences.
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Features
‘Rip-off culture’ rejected by Swiss electorate
More than five years into the current financial crisis, one could be forgiven for thinking parts of the financial industry have returned to business as usual. The perception, based only in part on fact, that executive pay is rising sharply while other incomes are stagnating eventually led to the backlash ...
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Features
A day to explain Dutch ambitions
This year we held the annual global strategy meeting of the Wasserdicht Pension Funds in the Netherlands. As this year’s organiser, I suggested a pleasant country house hotel near Hilversum.
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Features
All eyes on auto-enrolment
Angela Merkel’s Christian Democrats may be consistently ahead in the polls and occupational pensions are not likely to play any role at all in the forthcoming German parliamentary elections. Yet as we report in this issue, there is a flutter of interest in auto-enrolment into workplace pensions on the part ...
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Features
Why say no to ownership?
Nina Röhrbein asks Martin Clarke, executive director at the UK’s Pension Protection Fund and UKSIF chairman, about ownership duties and opportunities
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Features
A tale of two jurisdictions
Expatriate pensions are still an offshore game, and Luxembourg and Liechtenstein are vying for supremacy, writes Gail Moss
