All IPE articles in July 2002 (Magazine) – Page 2
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Features
Filling in the gap
The growth of third pillar defined contribution schemes in France has been hampered, historically, by the generosity of the country’s first and second pillar pension systems. The combination of a high level of social security pension and the complementary ‘repartition’ (pay-as-you-go) schemes of ARRCO and AGIRC – mandatory for all ...
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Features
Levelling the playing field
One of the greatest challenges for real estate investment managers operating internationally is ‘levelling the playing field’. Every market has its own customs and traditions that turn the business of making real estate investments into a complex process. As a result, most skilled international real estate investment managers come equipped ...
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Features
Key features of IORPs
The directive has espoused the prudent man principle with a few minor restrictions on cross-border funds. Member states can choose to retain quantitative rules. Some specific quantitative restrictions can be imposed by a member state not only on its domestic pensions funds but also on pension funds from another state ...
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Features
Rebuilding of US savings key factor
The disconnect so far this year between positively surprising global economic statistics and falling equity markets is described by many commentators as highly abnormal, with the only precedent occurring in the early 1930s. There appears to be a great reluctance to recognise the extreme abnormality of the whole post-1997 cycle. ...
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Features
The index is not enough
When markets were soaring and active managers were struggling, indexation was flavour of the month. Now, with markets in the doldrums, the product getting all the attention is enhanced indexation. As ever, the two drivers for the change in fashion are our old friends risk and return. Risk, not only ...
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Features
Laying down a legacy
For Irish finance minister Charlie McCreevy, interest in the concept of an Irish reserve fund for pensions came some time before his arrival on the Irish political scene. “My own interest stems from two factors. Firstly, for many years, I would read what the occasional commentators wrote about the so-called ...
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Features
Private equity 'to double'
Private equity investment will continue to grow over the next 10 years and pension funds in the US and Europe are expected to double their allocation to the asset class according to a new report by the Economist Intelligence Unit. The report, produced in conjunction with the private equity company ...
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Features
Restating doctrine of matching
Last year the £2.3bn (e3.5bn) Boots pension fund rocked the UK pensions world by putting “every last penny” into a long bond portfolio, as John Ralfe, head of corporate finance at the high street chemist chain and the man responsible for much of the thinking behind the strategy, puts it. ...
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Features
Hybrids offer extra dimension
Slumping investment returns in the major stock markets, an increase in longevity and the introduction of new accounting standards, among other factors, have left many pension funds in deficit. Conversely, the downturn in the global economy has forced organisations to be more cost-aware. As a result, many companies are currently ...
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Features
A daunting experience: NTMA’s investment management
That the NTMA was in clear control of the type of managers it wanted for the fund and the type of contract it was seeking to enter into was clear from the off in this huge RFP. One pertinent example came in the second stage of the appraisal, when the ...
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Features
The commissioners
Donal Geaney is chairman and chief executive of drug delivery and biopharmaceutical firm, Elan Corporation, Ireland’s largest public company. Geaney joined Elan in 1987 as executive vice president, corporate planning before being elected to the board of directors in 1992 and later assuming the positions of president and chief operating ...
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Features
Commission of seven prudent persons
For his vision of the state pension fund to become reality, it was essential for Irish finance minister Charlie McCreevy to find the right structure to implement and manage such an important pool of assets. The arrangements for the governance and management of the fund were modelled on the successful ...
