Latest from IPE Magazine – Page 261
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Features
Focus Group: Smarter than the average beta?
Over half of the funds responding to this month’s Focus Group survey currently allocate to investments that employ smart beta concepts, with an average of 17.5% of their equity portfolio managed in this way. Nine funds are considering further allocations.
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Features
Diary of an Investor: No magic bullet
The good 2014 return of Wasserdicht’s Dutch fund was less down to asset allocation and mostly driven by high hedge ratios, writes investment director Pieter Mullen
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Country Report
Slow shift in perspective for Belgian pension funds
Having enjoyed good returns in 2014, Belgian pension funds are now seeking alternatives to bonds, writes Gail Moss
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Opinion Pieces
Letter from Brussels: Bumpy road ahead
As far as investment is concerned, the EU faces a turbulent 2015. The efforts of Jean-Claude Juncker are central to arresting the EU economy from its zombie state.
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Opinion Pieces
Letter from the US: Funding under pressure
Wall Street posted record highs in 2014 but this was not enough to compensate for other negative factors affecting US corporate pension plans. Their funding status dropped from 89% at the end of 2013 to 80% by the end of 2014, according to Towers Watson, and the pension deficit increased to $343bn (€303bn), doubling that of 2013. Overall pension plan funding fell by $181bn.
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Opinion Pieces
Guest viewpoint: Sally Bridgeland - Avida International
“Looking beyond the UK may provide lessons on how maturing pension funds can rework investment governance”
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Opinion Pieces
Viewpoint: Alternatives to the Holistic Balance Sheet
Wilfried Mulder and Niels Kortleve outline a two-step approach as an alternative for a harmonised solvency regime for IORPs
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Special ReportBeta, smart beta, alternative beta: Extracting equity market risk
Those who criticise the smart beta concept suggest other ways to extract equity market risk
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Special ReportSmart beta commodity indices: A smarter approach to commodity investing
Traditional commodity indices were problematic from the start, but fixing them without introducing greater complexity is easier said than done
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Special ReportSmart beta factor investing: The long and short of it
True factor investing involves short as well as long positions, yet the costs of shorting erodes much of the benefits
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Special ReportSmart beta hedge fund replication: Aping alpha
The first wave of hedge fund replication petered out nearly 10 years ago, but new approaches are reviving interest and allocations
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Features
Juncker needs you!
Pension funds, take note. Jean-Claude Juncker, European Commission president, wants your money to invest in a laundry list of up to 2,000 projects.
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Country ReportPensions In Ireland: Towards a DC future
At its first meeting of 2015, the Irish Cabinet discussed the introduction of a “new, universal supplementary pension savings scheme”. The plan was presented by Joan Burton, deputy prime minister and minister for social protection.
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Special Report
Special Report ESG: Carbon Risk, Emission Impossible
When Chris Hitchen, CEO of the UK’s Railpen, thinks about portfolio fossil-fuel exposure, there is no room for moral absolutes. The discussion is “quite different” now that oil trades at $45/bbl rather than $115/bbl, he insists.
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Asset Class Reports
Investing In Investment Grade Credit: A widening spread
Joseph Mariathasan finds that the divergence of USD and EUR corporate bond performance tells us a lot about how badly Europe’s economy is lagging that of the US
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Country Report
Pensions In Ireland: Do the right thing
Jerry Moriarty welcomes the planned end to the pensions levy but calls for definite action on auto enrolment
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Special Report
Special Report ESG: Carbon Risk, A changing climate
After years of campaigning, a series of recent moves from influential investors suggests that anti-fossil fuel groups are getting money on their side. Mark Nicholls looks at how the risk management and divestment movements are shaping up
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Asset Class Reports
Investing In Investment Grade Credit: Problem solving
Forthcoming solvency rules led many insurers away from equities towards corporate bonds just in time to dodge the financial crisis. With yields low and spreads tight, but the Solvency II ghost still at the feast, Joseph Mariathasan looks at what they are doing now
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Country Report
Pensions In Ireland: Needing a break
Defined benefit scheme deficits continue to have a significant presence on Irish balance sheets, according to Mick O’Byrne
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Special Report
Special Report ESG: Carbon Risk, a timeline
July 2011: The Carbon Tracker Initiative launches its seminal ‘Carbon Bubble’ report which, for the first time, puts the 2°C climate change target into a capital markets context…
