Latest from IPE Magazine – Page 301
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Special Report
Real Assets: The ultimate real asset?
Daniel Ben-Ami considers the fundamentals behind gold and what they mean for its role as a portfolio allocation
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Special Report
Real Assets: Price to earnings
Helen Fowler looks at how an equity portfolio could be optimsed for inflation sensitivity
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Special Report
Real Assets: Understanding inflation shocks
Kurt Winkelmann and Raghu Suryanarayanan model asset returns under inflation shocks as a first step to designing genuinely inflation-sensitive portfolios – itself the first step towards broader macro-sensitive portfolios
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Special Report
Real Assets: No real growth
In the aftermath of QE, inflation-plus multi-asset funds seemed like an idea whose time had come. Charlotte Moore asks why they failed to catch on
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Features
The inconstant constant
Regulation threatens the existence of Constant Net Asset Value money market funds. David Turner asks if investors will miss them
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Features
Mixed evidence on financialisation
Lorenzo Naranjo and Carmen Stefanescu note that commodity futures volatility has been rising since the era of ‘financialisation’ – but also that the correlation with equity market volatility long pre-dates this period
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Features
Carbon investment: worth the risk?
Gyorgy Dallos argues that the financial risks associated with investing in fossil-fuel companies will increase as they extract in more hazardous places and stricter carbon constraints are enforced
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Special Report
Are loyalty shares a game-changer?
Nina Roehrbein asked Mirjam Staub-Bisang about sustainable investment in Switzerland
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Special Report
Transparency under the spotlight
The mandatory reporting regime of the UN Principles for Responsible Investment has caused controversy. But advocates say it will shine a light on ESG integration. Mark Nicholls reports
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Asset Class Reports
Sovereign Bonds: A wealth of opportunity
Martin Steward speaks with Stratton Street Capital, which believes a sovereign’s wealth determines the performance of its bond and currency markets
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Asset Class Reports
Sovereign Bonds: The tip of an iceberg
Detroit’s bankruptcy grabs the headlines, but Christopher O’Dea draws attention to an even more significant muni bond development: pension-funding bonds issued by high-quality deleveraging municipalities
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FeaturesTime for an overhaul
With yields rising and pension schemes continuing to increase their allocation to bonds, Peter Ball asks how trustees can plug the deficit in their schemes
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Interviews
M&G Fixed Income: Shining a light in the cracks
IPE editor Liam Kennedy sits down with M&G chief executive Simon Pilcher
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Features
Focus Group: The real thing
Just under half of the respondents to this month’s Off The Record survey expect their allocation to real assets to increase a little over the next five years. On average, respondents currently invest 24.4% of their fund in real assets – although some investors have a more expansive definition for the term than others. One fund included the 5% it has in private equity, for example; two others included their listed equities; and two even included bonds, without specifying whether these were inflation-indexed.
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Features
In the pipeline
It’s a fine September morning and I am over the North Sea in a helicopter together with Geert, our bright young spark in the investment department. But it’s not just a day out and we are all dressed in hard hats and waterproofs since we are on our way visit a gas installation. Our proposed investment is nowhere to be seen, though, as it is a share in a gas pipeline network on the seabed.
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Country Report
Portugal: Cautious steps towards risk taking
Portugal’s supplementary pension funds have increased their equity weightings but are still cautious on fixed income, writes Gail Moss
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Features
The rise of cross-over assets
In this second article in a new series, Nicholas Lyster and Amin Rajan argue that the evolving diversification favours assets with bond-like features and equity-like returns
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Asset Class Reports
Sovereign Bonds: Yielding more questions than answers
Some see recent bond-market sell-offs as the start of the long-awaited bear market in bonds – or at least a ‘normalisation’ of rates, while others point sceptically to weak global growth
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Asset Class Reports
Sovereign Bonds: Tough at the top
Martin Steward finds life getting tricky for even the best active European bond managers
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Opinion PiecesThe assets of healthcare
A trend that has already taken place in pensions is now happening in the healthcare sector in the US
