All IPE articles in July/August 2021 (Magazine)

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  • Frjálsi lífeyrissjóðurinn
    Interviews

    On the record: Unlisted priorities

    July/August 2021 (Magazine)

    Two pension funds discuss how their strategies for non-listed investments are evolving

  • Luigi Serenelli
    Opinion Pieces

    Notes from Switzerland: Work in progress

    July/August 2021 (Magazine)

    History repeats itself, first as tragedy, second as farce: now another referendum result in Switzerland is poised to obstruct changes designed for a long-term impact. 

  • Amin Rajan
    Features

    Research: Stewardship is key to the ‘S’ pillar

    July/August 2021 (Magazine)

    Simon Klein and Amin Rajan show the reliance of social-related passive funds on equities

  • David Swensen (1954-2021)
    Features

    Perspective: Swensen’s legacy grows

    July/August 2021 (Magazine)

    The late David Swensen achieved a remarkable performance edge for the Yale Endowment, can it be replicated by pension funds

  • In Wisconsin employees and employers share the actuarially determined contribution
    Features

    Letter from US: Hybrid plans in focus

    July/August 2021 (Magazine)

    The move from defined benefit (DB) pension plans to defined contribution (DC) has been ongoing for years in the US, both in the private and public sector. But more recently many state and local governments have adopted hybrid designs. 

  • Ivonne Forno
    Interviews

    Exit interview: Ivonne Forno

    July/August 2021 (Magazine)

    Ivonne Forno, former CEO of Laborfonds, reflects on her experience of building one of Italy’s most successful pension institutions 

  • Giovanni Gazzoli Itinerari Previdenziali
    Country Report

    ESG gains ground

    July/August 2021 (Magazine)

    Italian pension funds are increasingly making their investment choices with ESG factors in mind

  • Susanna Rust
    Opinion Pieces

    ESG: progress but still much road to travel

    July/August 2021 (Magazine)

    Good things are happening in the land of ESG. Aspects of the European Commission’s sustainable finance action plan regulation have certainly been frustrating, but the sustainable finance disclosure regulation (SFDR), for example, does look like it could end up having a beneficial effect, even though there are still problems associated with it and the effect is perhaps not the one that was envisaged for the SFDR.

  • Liam Kennnedy
    Opinion Pieces

    Governance must be the embedded solution

    July/August 2021 (Magazine)

    Europe now has approaching two decades of experience with the investment outsourcing that is loosely called fiduciary management, or sometimes outsourced CIO (OCIO), to use the US terminology.

  • Cyril Demaria
    Features

    Guest Viewpoint - Cyril Demaria: Three lessons on private market investing

    July/August 2021 (Magazine)

    Writing our book Asset Allocation and Private Markets has led its authors to revisit an old adage, venture on an unusual path, and confront an academic theory.

  • Slack remains in the US economy
    Features

    Fixed Income, Rates, Currencies: Trickier than usual

    July/August 2021 (Magazine)

    Amongst the myriad of investment conundrums facing investors, one of the more pressing today is whether – or not – the US economy will overheat. Though the Federal Reserve has done a good job assuring the markets that while (US) inflation data may indeed print higher than “target”, Chair Jerome Powell will be “looking through” any rises. They have argued that these should be temporary and a dovish outlook will remain.

  • Archie Beeching
    Features

    ESG & private markets: Crying out for standards

    July/August 2021 (Magazine)

    Growing awareness of ESG is fuelling pressure for definitive metrics to assess company performance

  • Credit
    Asset Class Reports

    Portfolio strategy: Credit

    July/August 2021 (Magazine)

    As the institutional investment community heads towards a post-COVID new normal, private credit remains a favourite among investors despite inflationary headwinds. In this report, we also cover the record amounts of capital raised by private-debt funds last year, the latest developments ESG in private markets, and how the digital transformation accelerated by COVID is impacting private debt.

  • Mikkel Sckerl SORT HVID
    Features

    Private credit: Floating to safety

    July/August 2021 (Magazine)

    Despite inflationary headwinds, the outlook for private credit remains strong

  • David_Lowery_IPE
    Features

    Private credit fundraising: A record year for private-debt funds

    July/August 2021 (Magazine)

    Record amounts of capital were raised by private-debt funds in 2020 but the outlook may be less strong in the short term

  • venilia amorim
    Opinion Pieces

    Social risks impact on employer covenant

    July/August 2021 (Magazine)

    The UK’s Department for Work and Pensions (DWP) recent consultation – Consideration of social risks and opportunities by occupational pension schemes – seeks to assess how trustees understand ‘social’ factors and how they aim to integrate financially material social factors into investment and stewardship activities.

  • Rome, Italy
    Country Report

    Country report: Italy

    July/August 2021 (Magazine)

    Italian pension funds are growing their allocation to illiquid asset classes at an increasing pace, spearheaded by a number of innovative institutional collaborations. In addition, the sector is more and more making investment choices with ESG factors in mind, as we analyse in our latest in-depth on Italy’s pensions. The report examines the impact of COVID-19 on the health of the country’s second-pillar pensions system, and finds why its future growth is dependent on more decisive policymaking.

  • Raj Thamotheram
    Features

    Long term matters: It’s corporate tax, stupid

    July/August 2021 (Magazine)

    Bill Clinton used the slogan “It’s the economy, stupid” to help him win the 1992 US presidential election. The same now applies to corporate tax in 2021.

  • Antonio_Iaquinta_head of institutional business Italy at State Street Global Advisors
    Country Report

    Second-pillar pensions: The virtuous circle that will not start

    July/August 2021 (Magazine)

    Italy’s second-pillar pension system is developing but the industry awaits more decisive policymaking

  • Dan Aylott, Cambridge Associates
    Features

    Briefing - Growth private equity: From margin to multiple

    July/August 2021 (Magazine)

    Private equity may have a reputation for buying cheap, levering up and selling high. But with a record $30bn (€25bn) sitting in European growth vehicles, true business growth is expected to play a greater role in coming years.