Latest from IPE Magazine – Page 2
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Interviews
Merseyside pension fund dials down domestic bias
Scheme’s strategic ambition is to move closer to the MSCI World index weightings
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Interviews
Sweden’s AP3 pension fund and its quest for alpha
Jonas Thulin, recently appointed CIO of Sweden’s Tredje AP-Fonden (AP3), talks to Carlo Svaluto Moreolo about his approach to asset allocation and portfolio management
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Features
UK creates social factors template for pension investors
Environmental and governance risks receive much attention, but UK and other European institutional investors have focused less on social factors and their complexities.
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Features
Private credit secondaries come of age
Since the secondaries market came into existence, private equity has been the dominant asset class, but the tide is turning. It is finally time for private equity’s more youthful counterpart, private credit, to receive more of our attention. The private credit secondaries market borrows various elements from its older sibling, including best practices and deal structures, and it is now demanding the spotlight as awareness of the asset class increases.
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Interviews
Thematics Asset Management’s CIO on themes and investment challenges
Out of the 19 boutiques businesses belonging to the Natixis Investment Management franchise, Thematics Asset Management is by no means the smallest, but it is not exactly a juggernaut, managing €3.3bn of assets at the end of last year. Yet, it is actively contributing to what could be a crucial evolutionary step for global investors.
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Interviews
Modelling shows net-zero investing can be profitable
Since the acceptance of the Paris Agreement in 2015, which bound nations to a legal commitment to reduce global temperatures, there has been a clear shift towards net-zero investing. While socially responsible investments are crucial for the mitigation of climate change, recent calls to row back on ESG funds suggest some hesitation.
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Features
US economy continues to surprise
The resilience of the US economy continues to confound observers. The Federal Reserve’s 11 hikes in interest rates over the course of 2022 and 2023 were implemented to rein in economic strength and to stifle inflation. Scroll forward to the second quarter of 2024 and both inflation and economic activity are still higher than expected.
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Features
IPE Quest Expectations Indicator - May 2024
EU parliamentary elections are approaching fast. Current polls predict a shift to the right, with the current centrist parties remaining dominant and the extremist right overtaking the Eurosceptics. US President Donald Trump is still liable to be convicted in a criminal case, but his poll figures are rising.
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Country Report
Netherlands Country Report 2024: The pension transition dilemma
Dutch pension funds must tread a fine line between protecting funding levels and ensuring sufficient returns as they move to defined contribution
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Special Report
Manager selection: Solving the pension liquidity puzzle
Advisers and fiduciary managers are working as hard as ever to meet the liquidity needs of pension funds
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Asset Class Reports
Emerging market equities: investors grapple with peak political risk
As billions of people head to the polls in 2024, how will politics influence flows to emerging market equities?
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Country Report
Dutch pension reform opponents running out of time
Political parties struggle to reach agreement on what an alternative pensions system could look like
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Special Report
Round table: Manager selection priorities for 2024
IPE asked eight manager research business leaders: what will be the three most important topics or trends in manager selection over the next 12 months and beyond?
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Asset Class Reports
Is India’s equity market now the new China in investors’ eyes?
Better governance and a clear economic path may put India in the lead
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Country Report
PFZW moves beyond oil and gas divestment
In a podcast recorded for IPE’s Dutch sister publication Pensioen Pro, Ravien Sewtahal of PFZW and Colin Tissen of the pension fund’s asset manager PGGM reflect on the Dutch healthcare scheme’s engagement programme with fossil fuel firms and PFZW’s next steps in climate engagement
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Asset Class Reports
A changing Saudi Arabia proves attractive for investors
Equity market is starting to open to investors as the country liberalises strict rules
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Country Report
Can DC participants trust the competence of Dutch pension funds?
The authors of a recent paper find that pension boards in the Netherlands have failed to reduce asset-liability risk and advocate for greater accountability of boards, advisers and investment staff
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Features
Investors are paying for hedge funds' reluctance to use hurdle rates
Although two years have now passed since the US Federal Reserve started rapidly hiking interest rates, the likelihood that your hedge fund manager will have a ‘hurdle rate’ – a minimum rate of return before performance fees kick in – has not changed. Only a quarter of hedge funds, by our count, have such a threshold in place and the practice does not yet show signs of becoming more widespread, even though the risk-free rate has now exceeded 4% for well over a year.
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Opinion Pieces
ATP at 60: no plans to retire the guaranteed pensions model
Now approaching retirement age itself, Danish statutory pension fund ATP is using its 60th birthday as an opportunity to reinforce the validity of its guarantee-based investment model.
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Opinion Pieces
Why General Electric’s pension management model has finally passed its prime
The late Jack Welch, CEO of General Electric for two decades until 2001, was not only a legendary businessman who grew GE’s market cap 30-fold over his tenure. He also inspired a minor revolution in pension fund management that dates back to the days of mainframe computers and telex machines.