Latest from IPE Magazine – Page 255
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Features
On the verge of reform?
Is Ireland finally addressing its low pension coverage and demographic issues?
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Features
From our perspective: What do you need to shout about?
A recent trend in European occupational pensions has been towards increased transparency on costs – for instance, in the Netherlands and Switzerland. So for numerous European pension funds, measuring and presenting asset management cost data has become standard, even if the task seemed daunting for some at the outset. In Switzerland, managers unable to provide a total expense ratio are named in a separate ‘blacklist’ on the annual report
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Features
Hedge funds: PFZW decision highlights divergent thinking
When Europe’s second-largest pension fund drops hedge funds and announces its new investment strategy will place greater emphasis on intelligibility, the industry takes note.
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Features
Inflation Measures: Plus ça change, plus c’est la même chose
In the UK, 2015 started with a sense of déjà vu, as statisticians re-opened the debate on the merits of differing inflation measures.
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Features
Holistic Balance Sheet: Damned if you do, damned if you don’t
The European Insurance and Occupational Pensions Authority (EIOPA) is often seen as the bogeyman of the industry, and many criticise even the smallest point put forward by the team surrounding chairman Gabriel Bernardino in Frankfurt.
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Opinion Pieces
Long-term Matters: Taxing questions
Tax wasn’t a material issue for ESG – let alone traditional – investors a few years ago, but now it is. So how did this happen and what does it tell us about other issues which are currently dismissed as non-material?
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Features
Pensions Accounting: A busy year scheduled
Another year, another 12 months of pensions accounting change and uncertainty. By any guess, 2015 promises to be a busy year for both defined benefit (DB) and defined contribution (DC) pension plan sponsors.
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Opinion Pieces
Letter from Brussels: Pensions in their sights
EU big shots working on how to release capital flows from funds into SMEs under the new Capital Market Union (CMU) programme should look at an existing scheme with similar aims.
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Opinion Pieces
Letter from the US: A model for future cuts?
The pension industry is concerned with the consequences of a bipartisan amendment to the $1.1trn (€924 bn) ominbus spending bill that Congress approved in December. This cuts benefits for multi-employer plan members and experts are now debating whether it is a model for further cuts across the industry.
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Opinion Pieces
Guest viewpoint: Bernhard Wiesner - Bosch Group
Does the new IORP II Directive reflect the needs of sponsoring companies and their IORPs in Europe?
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Interviews
On the Record: How do you deal with underperformance?
Underperformance is acceptable up to a point
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Features
Briefing - Switzerland: Guided choices
Some Swiss pension funds are introducing a degree of individual investment choice. Barbara Ottawa assesses progress so far
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Features
Briefing - Netherlands: Towards Dutch sustainability
Nine pension specialists* outline a model for the future of the Dutch pension system
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FeaturesHow we run our money: Lancashire Pension Fund
Carlo Svaluto Moreolo asks Mike Jensen (pictured), CIO of the UK’s Lancashire Pension Fund, about the fund’s pooling venture and the need for better liability management in British local government pensions
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Special Report
Special Report ESG: Carbon Risk, Two tactics are better than one
As investors come under increasing pressure on fossil fuels, Gordon Noble and Matthew Kiernan urge them to remember that divestment without engagement is as futile as engagement without the threat of divestment
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Features
Briefing: Pension Funds and ETFs, Still in the future
Exchange traded product providers claim improving costs make them better than derivatives or traditional passive solutions for both tactical and strategic investment. Brian Bollen finds Europe’s pension funds yet to be fully convinced
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Features
Briefing: Energy Investments, Oil plunge shakes up shale
Seven months of plunging crude prices has devastated cash flow projections of the US’s nascent shale oil production industry. But David Turner finds investors looking for bargains, especially among less-exposed infrastructure providers
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Features
High Yield Bonds Commentary: Happy to be bullish contrarians
Louis Cohen believes fundamentals remain firmly in place for spread compression in high-yield and explains why his team is unconcerned about being contrarians in this market
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Interviews
Strategically speaking: Thriving on independence
“Our life at AXA was very good,” concedes Ardian’s Vincent Gombault, one year since the private equity firm completed its management buyout of a 52% stake from the insurance giant.
