All IPE articles in July / August 2015 (Magazine)
View all stories from this issue.
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FeaturesIPE 360 Conference Report: The tricky question of costs
The tricky question of costs was one of the key topics for debate at the IPE 360 Conference at the London Stock Exchange in mid-June
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FeaturesHow we run our money: ABB
Elisabeth Bourqui, head of group pensions at ABB, explains the Swiss multinational’s innovative approach to managing its 100 defined benefit pension plans
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Special Report
ABN Amro Pension Fund: Regime change
Geraldine Leegwater tells Mariska van der Westen how the ABN Amro Dutch pension fund project managed its transition to collective defined contribution
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Features
Accounting Matters: Feeling the pressure
The verdict on 2014 is that it was a volatile year for pension schemes. Long-dated interest rates fell sharply, bringing with them a corresponding increase in pension liabilities
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Features
Ahead of the Curve: Peer share efficiency
John Alexander examines the use of active share, active share efficiency and peer share efficiency for institutional investors
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Interviews
On the Record: Are you restructuring your emerging market allocation?
Three pension funds - Amonis, BNL BNP Paribas, and UMR Corem - talk about their exposure to emerging markets
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Features
Asset Allocation: The big picture
This year looks like it could be remembered as the Bund sell-off year, or perhaps even the Bund Blowback, with one of the intraday price falls larger than any recorded (by Bloomberg) in the past quarter century
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Country Report
Asset Allocation: Emerging hopes
Rachel Fixsen looks at the lifting of investment restrictions and their effect on the asset allocation strategies of Italian pension funds
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Features
Bigger is not always better when it comes to pension funds
A recent working paper of the Dutch central bank on costs sheds light on a debate playing out in several European capitals over the size of retirement institutions
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Opinion Pieces
Letter from Brussels: Ready with the axe?
The lack of demand rather than supply for both credit and capital is a common criticism from investors of the EU’s capital market union (CMU) programme
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Features
Executive pay: Taking back control
Asset owners may now be able to challenge pay inequality more aggressively, using reports backed by staunchly pro-capitalist institutions, write Jonathan Williams
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Asset Class Reports
US Equities: US banks lose lustre
Dodd-Frank and other post-crisis regulation have changed the US banking sector with structurally lower returns on equity
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Special Report
Pension Fund Governance: In the eye of the beholder
Good governance is perhaps easier to identify from a distance than it is to put in place. By the very nature of decisions, its benefits for pension funds are easier to assess with the benefit of hindsight
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Features
Belgium’s pensions challenge
Belgium’s pension plan sponsors have struggled to adapt the International Accounting Standards (IAS) 19 accounting model
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Special Report
CalPERS: A matter of belief
CalPERS, the giant Californian state pension fund, recently evaluated an investment beliefs framework it introduced in 2013
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Features
Focus Group: From a board perspective
Just over half of the funds polled for this month’s Focus Group consider diversity on a pension fund board to be important
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Features
Trade Finance Briefing: Doors open to trade
Greater liquidity and capital constraints have forced many banks to scale back or close down their trade finance operations, creating opportunities for non-bank lenders, says Luigi La Ferla
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Features
China Briefing: Foreigners eye Chinese shares
Access to China A-shares, one of the largest equity markets, is becoming easier for overseas investors
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Interviews
Strategically speaking: Oaktree Capital Management
Howard Marks is the co-founder and co-chairman of Oaktree Capital Management, known in the investment community for memos to clients which detail distressed debt, credit and other investment strategies, insights into the economy, as well as for his distinctive investment philosophy
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Opinion Pieces
Guest Viewpoint: Paul Smith - CFA Institute
“Investment management industry leaders must develop professionalism at every level of their firms”
