Latest from IPE Magazine – Page 294
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Features
The US Treasury’s New Year gift
The US Treasury brings to market its first new product in nearly 20 years. Stephanie Schwartz reports
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Features
From recycle to growth cycle
Brian Bollen asks whether a pick-up in corporate and economic activity can awake the loan market from a torpor of refinancing
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Features
Illiquid but not non-transparent
Cyril Demaria argues that private equity illiquidity need not prevent the creation of a model for vintage return prediction that can reduce the prudential capital costs of the asset class
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Features
Sustainability is key in farmland
Nina Röhrbein looks at the future of farmland as an asset class
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Interviews
Not corporate governance police
Poor governance may have been catapulted into the headlines in recent years, but to-date few asset managers in Europe have been trying to make money through activist strategies. One that does, as part of its range of products, is London’s RWC. In 2013, RWC’s assets under management grew from $5bn (€3.7bn) to $7.5bn, which its CEO Dan Mannix attributes to “a normalisation of opportunities within the equity markets” and a general improvement in investor sentiment.
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Interviews
Operating in the market shadows
Harald Espedal has a party to get to. It is October 2013 and he is in London to celebrate Skagen Funds’ twentieth birthday with the firm’s growing UK team and a host of colleagues from Stavanger in Norway.
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Asset Class Reports
Small & Mid-Cap Equities: Small companies, big valuations?
Joseph Mariathasan looks at small-caps around the world after a long period of outperformance, and finds plenty of reasons to believe that current valuations remain reasonable
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Asset Class Reports
Small & Mid-Cap Equities: Put on a smart cap
Charlotte Moore weighs up the arguments for a range of ways to access smaller companies – approaches that all agree with common sense, but not always with one another
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Asset Class Reports
Small & Mid-Cap Equities: Europe’s modest world-beaters
Cedric Durant des Aulnois argues that small-cap investors do not have to compromise on quality – and they can now also get it cheaper
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Asset Class Reports
Small & Mid-Cap Equities: The cycle turns
Dispersion among the top-performing European small-cap managers could split along ‘quality growth’ versus ‘quality value’, writes Martin Steward
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Features
Back to the future
Pension fund boards and their investment teams should form a new partnership to promote flexibility in strategy, argues Théodore Economou
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Features
Focus Group: Shareholder voting policy
Thirteen of the 18 investors polled for this month’s Focus Group have shareholder voting policies – and of those that do not, just one is working on such a policy.
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Features
How do you colour-code that?
At Wasserdicht Pensioenfonds, some of our trustees have started to scrutinise our internal investment organisation.
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Opinion Pieces
Are they taking my job?
Had anyone told me that McKinsey and the Canada Pension Plan Investment Board (CPPIB) would challenge the institutional investment system as I’ve been doing, I’d have laughed. But when tipping points are reached, paradigm change can happen fast. Coming hard on the heels of the Kay review and the UK fiduciary duty review, two insiders have acknowledged that institutional investor behaviour is harming business performance and society.
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Special Report
Corporate Governance: Springing into action
It has been two years since the so-called Shareholder Spring, which saw a large number of investors voting against company proposals. Nina Röhrbein asks whether the movement maintained momentum, and how corporate governance has developed as a result
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Opinion Pieces
Long-term critics
The European Commission’s report on responses to its consultation paper on long-term investing looks to be at least six months late. But don’t imagine the debate has gone away. The issue is likely to re-ignite in Brussels in the coming months after the Commission produces its assessment this quarter.
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Opinion Pieces
Time to face facts
The Detroit bankruptcy ruling and the new bookkeeping rules from the Government Accounting Standards Board (GASB) could trigger a wave of changes for the US state and local pension funds this year. Government leaders struggling with budget problems, bondholders that lend money to municipalities and states, and unions that negotiate pension benefits all have to deal with the impact.
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Country Report
Ireland: A vision of the future?
Iain Morse finds out what makes the CWPS scheme so confident that its members cannot find an alternative offering the same benefits at a lower cost
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Features
Trust me, I manage money
No-one doubts that trust, ethics and integrity are central to pension and investment management.
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Features
When China sneezes… 2014
The spectre of the volatility that struck emerging markets in 2013 hangs over many of the investment pages of this month’s IPE. And no wonder – it feels like last year provided confirmation, at last, that these markets are entering a new paradigm.
