Latest from IPE Magazine – Page 264
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Special Report
Special Report ESG: Carbon Risk, Accounting for carbon
To avoid putting garbage into the atmosphere, companies need to stop putting garbage into their accounts and investors need to stop putting garbage into their risk models. Elisabeth Jeffries finds a complex web of carbon disclosure protocols making that a big challenge
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Special Report
Special Report ESG: Carbon Risk, Borderless potential
Energy security concerns have pushed international power connectivity up the European agenda. Jonathan Williams finds early pension fund investors attracted by stable cash flows in the low-yield environment
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Special Report
Special Report ESG: Carbon Risk, Yielding results
Green, or climate bonds, are gradually becoming a mainstay in the market. Jonathan Williams assesses who is active in the market, whether it remains dominated by government-backed bonds – and who is assessing the impact of capital raised in this way
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Special Report
Special Report ESG: Carbon Risk, How green are your govvies?
On the face of it, sovereigns and their debt should be very sensitive to carbon and climate-change risks. Mike Scott finds that uncertainty around data and the lack of a price for carbon is holding back the discounting of those risks
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Country Report
Pensions In Central & Eastern Europe: A fresh start for pensions
Polish pension funds have been taking stock of a drastically changed landscape following last year’s large-scale asset transfer to the state system. Krystyna Krzyzak asseses how they have managed the process
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Special ReportSpecial Report, The M&A Cycle: When CEOs go shopping
The charts on this page, which you will find illustrating articles elsewhere in the January 2015 issue of IPE, tell of the M&A cycle that we explore in this month’s special report.
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Asset Class Reports
Investing In Small & Mid-Cap Equities: Starved of capital
Central bank policies are heading for divergent paths. Joseph Mariathasan looks into the likely impact on small and mid-sized stocks, where valuations are already exhibiting marked differentiation
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Country Report
Pensions In Central & Eastern Europe: Around the region
A Central & Eastern Europe roundup with Carlo svaluto moreolo
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Special ReportSpecial Report, The M&A Cycle: Big deals
Global M&A activity is increasing and mega-deals are leading the way. At a time when growth is sluggish and cash is piling up on balance sheets, Charlotte Moore looks at the trends in terms of regions, sectors and financing
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Asset Class Reports
Investing In Small & Mid-Cap Equities: New book claims that 'The Future is Small'
‘The Future is Small’ (Harriman House, 2014), a newly-published book from Miton Asset Management’s Gervais Williams, contends that while returns from large-cap stocks will remain low in an environment without decent economic growth, we are at the early stages of a multi-decade period of small-company outperformance.
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Country Report
Pensions In Central & Eastern Europe: The freeze continues
Regulatory uncertainty is clouding the Russian second pillar system. The market outlook following international sanctions over Ukraine and a drastically lower oil price is almost certain to hit returns, finds Krystyna Krzyzak
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Special Report
Special Report, The M&A Cycle: Commodity bust signals M&A wave in mining – for the right assets
Lower Chinese demand for raw materials and sluggish growth in most industrialised economies have forced mining companies into extensive repair work to bring capital structures and spending plans in line at the end of the ‘commodities supercycle’.
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Asset Class Reports
Investing In Small & Mid-Cap Equities: Keeping it in the family
Germany’s Mittelstand shows why mom-and-pop shops, despite the risks, can create superior success from local networks and a longer-term view of their businesses. Joseph Mariathasan investigates
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Country Report
Pensions In Central & Eastern Europe: Azerbaijan seeks Latvian and German expertise
In 2013, Azerbaijan and the European Union signed agreements for a twinning project, funded by the EU, which seeks to establish a funded non-state second pillar. Azerbaijan manages assets of over €27bn in its State Oil Fund.
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Country Report
Pensions In Central & Eastern Europe: A closing chapter
Pension fund reforms launched in 2013 by the government of Petr Nečas have fallen flat. The voluntary second pillar is to be abolished as of January 2016, while many of the third pillar funds will have to be merged to meet capital requirements.
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Special Report
Special Report, The M&A Cycle: Will it be different this time?
In the past, studies have questioned whether M&A adds long-term value and there is plenty of academic and anecdotal evidence of badly-botched integrations. “There are plenty of train wrecks out there,” as Steve Allan, M&A practice leader at Towers Watson, puts it.
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Asset Class Reports
Investing In Small & Mid-Cap Equities: Northern exposure
While the Swedish stock market in general can be rather volatile, this goes to an even greater extent for Swedish small-caps. But as Caroline Liinanki finds, for those able to handle the short-term market movements investing in smaller Swedish companies has been a very profitable move
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Country Report
Pensions in Central & Eastern Europe: Growing pains
Carlo Svaluto Moreolo assesses Croatia’s mandatory pension system as it digests new rules creating lifestyle strategies and loosening restrictions on domestic equity and foreign investments
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Asset Class Reports
Investing In Small & Mid-Cap Equities: Focus from diversity
Rummaging through successful small-caps portfolios reveals a diversity of opportunity, finds Martin Steward. This diversity enables portfolio managers to express very well-defined styles in their portfolio risk
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Special Report
Special Report, The M&A Cycle: The M&A premium
There is no doubt that when M&A picks up, potential acquisition targets attract inflated bids. But Christopher O’Dea finds little evidence of a market-wide M&A premium, and even sectors that are usually targets are seeing prices driven much more by other factors
