Latest from IPE Magazine – Page 366
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Interviews
Focus and flexibility
Few can claim to have been investing in emerging markets for 130 years. But Martin Currie & Co was helping to finance the North American railroads in the 1880s, when the US occupied the spot that China occupies today. That pioneering spirit lived on; it made its first Japanese investments in the 1960s, opened an office and a fund in China in 1997, and rolled out its first hedge fund – long/short Japan – in 2000. A new strategy partnership with Singapore’s APS Asset Management looks set to be a leading independent A-share active equity business.
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Features
No Greek tragedy
Well, things didn’t get much better in the markets after our long family drive back from the Italian Riviera to The Hague in August – volatility continued on the markets and it became clear that when it comes to the euro, plan ‘A’ isn’t up to much and plan ‘B’ doesn’t exist.
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Features
Fear, extremes and the euro
August was not all bad: 79.5% of respondents to the Off The Record survey stated that core government bonds had performed well; gold/precious metals (24% of respondents), currency exposures (20.5%) and global macro funds or other hedge funds (17%) also turned up trumps. But of course, that tells its own story: August was all about fear, extremes – and the euro.
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Opinion Pieces
Consensus elusive
The US retirement system might change dramatically by year’s end; or pension reform could be postponed again until after the 2012 presidential election. Either way, the debate about how to prevent the bankruptcy of social security is hotter than ever.
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Opinion Pieces
Thoughtful ownership
Investment managers too often have very little understanding of the businesses in which they are investing, delegates were told at a meeting in Brussels during the launch of a new study on stewardship.
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Features
Liam Kennedy: Break some policy eggs
After years of poorly conceived occupational pensions policy, the UK is finally attempting to remedy the situation – at least in the defined contribution area.
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Features
Martin Steward: Mayhem on Wall Street – and Main Street
As the kids ran riot across England on 8 August, traders nursed a one-month stock market loss of 15%. I don’t suppose the rioters were thrown into panic by their Bloomberg screens, but this was a striking coincidence for long-term investors to ponder.
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Features
Jim Robinson: I’m waiting for the alien invasion
Two snippets of news recently caught my eye for peculiar reasons. I say ‘peculiar’ because this summer has brought many eyebrow-raising news stories, including the collapse of the Greek economy, the sovereign debt crisis, the News of the World hacking scandal, the US credit downgrade, the panic in equity markets ...
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Features
Volatility hits some more than others
Most European pension funds put on a brave face during the wild stock market swings at the end of last month, but some handled the pressure better than others. The larger Dutch funds initially adopted a rather phlegmatic attitude as the panic first set in, emphasising the long-term nature of ...
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Features
Irish pension schemes face closure pressure
The stock market volatility witnessed in August has had differing effects on pension funds, depending on the country and its approach to pension investment. In the UK, it has resulted in higher deficits, increasing the possibility of an insurance buy-in and in the Netherlands, it has caused coverage ratios to ...
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Book Review
Book Review: Compendium of lessons for investors
A review of ‘Expected Returns. An Investor’s Guide to Harvesting Market Rewards’ by Antti Ilmanen, published by Wiley Finance, February 2011.
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Opinion Pieces
Peter de Proft, Director general of the European Fund and Asset Management Association
“Nobody knows what will be the impact of all these new rules”
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Interviews
Emerging markets equal future growth
What is your strategy for investing in emerging markets?
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Country Report
The Netherlands: Social partners take the plunge
The Dutch social partners and cabinet have agreed on a major overhaul of the pension system. Leen Preesman reports
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Country Report
The Netherlands: Devil in the details
The new pension agreement is an important step towards a necessary reform of the Dutch pensions system, but many of the agreement’s provisions still need to be fleshed out. Olaf Sleijpen of De Nederlandsche Bank finds that the devil is in the detail, as Leen Preesman and Mariska van der ...
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Country Report
The Netherlands: Better in Belgium?
Mariska van der Westen finds out about the benefits that convinced a Dutch pension fund to join a Belgian OFP
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Country Report
The Netherlands: Count the cost
An AFM report has revealed that Dutch pension funds are spending up to £3bn a year on hidden asset management costs, reports Mariska van der Westen
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Country Report
UK: Policy pending
Over a year after the new government assumed office, Jonathan Williams examines whether a flood of new proposals has been beneficial or detrimental to the pensions industry
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Country Report
UK: Proof in the pudding
Joanne Segars, of the NAPF, says there are flaws in the UK’s pensions policies. Jonathan Williams reports
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Country Report
UK: Mind the gap, please!
Nina Röhrbein reports on private sector funds’ strategies to deal with funding shortfalls
