Latest from IPE Magazine – Page 387
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Special Report
Fees: Just rewards
Unfairness, high levels, perverse incentives: fees are always guaranteed to raise temperatures. Martin Steward considers some imaginative proposals for alignment of interests
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Special Report
Fees: Beta-zero fees
Bernd Scherer tells Martin Steward that asset managers should take a good look at – and possibly hedge – the market risk embedded in their fees. How might that change the relationship with clients?
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Special Report
Fees: The big issue
Size definitely affects active management risks and returns, writes Matthew Craig. But the relationship is by no means a simple one
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Interviews
Latin translation
“We have a saying in Spain,” says BBVA’s head of global asset management Luisa Gómez Bravo. “‘No vendas la piel del oso antes de haberlo cazado’.” Don’t sell the bearskin until you’ve hunted the bear. The proverb comes in response to the question of how the €140bn asset management unit of one of the biggest global banking brands remains so little-known among Europe’s institutional investors.
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Asset Class ReportsEmerging Market Equities: Emerging questions
The days of a simple emerging market allocation are over. Correspondingly, JosephMariathasan finds a variety of approaches among the top performing managers
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Special Report
Positive impact in Africa
A local presence and a tilt towards impact investing is the way to succeed on the final frontier, writes Nina Röhrbein
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Features
Diary of an Investor: Player and dealer
I caught up with an old pal at the IPE Awards in Monaco in early December. As a previous IPE winner, we at Wasserdicht Pension Funds were invited to a special reception to celebrate the tenth anniversary of the awards. But beforehand, Pim and I met for an aperitif.
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Features
The year ahead
This month’s Off the Record survey asked European pension funds for their outlook for 2011, and received varying views and concerns.
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Features
A stitch in time
Predicting life expectancy is never easy. In addition to the more obvious factors that need to be considered, Swiss Re’s Daniel Ryan points out some less obvious but potentially beneficial ones
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Features
Strategic dynamism
Optimal strategic asset allocation cannot be the same for investors with different levels of wealth at different moments in time, argue Philippe Aurain and Eric Bouyé
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Opinion Pieces
Deficits in focus
The EU has now made a significant concession to accommodate the demands made by eight CEE member states and Sweden in August last year for the incorporation of future pension funding shortfalls into national annual budget statistics. Their governments claimed current rules effectively punish them for having made reforms to their pension systems that involved channelling some contributions away from the state system and into private funds.
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IP Asia
Passive index funds may rival ETFs in Asia-Pacific
by Bee Ong – Asia’s pension funds, sovereign funds and endowments have been increasing their use of exchange-traded funds particularly during portfolio transitions.
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Features
Hedge in the middle
Just over half (52%) of the respondents to this month’s Off The Record survey stated that their pension fund currently invests in hedge funds. Some 66.5% do so via fund of funds, while 58.5% do so directly.
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Features
Headhunters ahoy
Last week a headhunter called me. ‘Pieter, do you know any investment directors at pension funds who might want to transition into investment consultancy?’ With things in Holland not exactly optimal there are a couple of hundred people who might be interested. But what I say is: ‘I am not ...
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Special Report
Cleantech: no longer a dirty word
Smart grid and biomass are two sectors investors in renewables might consider if they are looking beyond the more traditional headline-hitting solar and wind energy. Nina Röhrbein reports
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Interviews
Winton’s global equity strategy
The West London offices of Winton Capital Management, best known for the diversified managed futures programme that has helped it grow into one of Europe’s biggest hedge funds, feel more like a university campus than an HQ of an asset management firm.
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Features
AP1 gets tough on global custody
In the wake of the crisis, the giant AP1 is looking for a new global custodian and is setting stringent operating conditions. Iain Morse reports
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Asset Class Reports
Hedge Funds: Into the mainstream
The hedge fund industry’s operational infrastructure and client base has become increasingly institutionalised and its investment practices continue to converge with those of traditional asset managers, writes Todd Groome
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Asset Class Reports
Hedge Funds: Hedge funds and the crisis
Citi Prime Services canvassed the opinions of hedge funds and hedge fund investors on the impact from and response to the liquidity crisis of 2007-08, and to gauge its longer-term implications for the sector. Sandy Kaul discusses the findings
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Asset Class Reports
Hedge Funds: Managed managed futures
What value can a fund of funds add for the managed futures investor? Martin Steward asks Thomas Weber of LGT Capital Partners, whose Crown Managed Futures fund is celebrating its tenth birthday
