Latest from IPE Magazine – Page 305
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Special Report
Securities Services: Case study: BNY Mellon strikes out on a new path
There is one idea banks traditionally stick to: the quicker you adapt to new regulatory changes, the easier you are likely to cope with them. And if you can anticipate the changes, you might even take one step ahead of your competitors. That may have been the thinking behind BNY ...
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Special Report
Securities Services: Defining custody’s contribution
As DC builds assets, trust-based structures come into their own and cost-saving aggregation opportunities abound. Iain Morse finds custodians well-positioned to put them into action
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Special Report
Securities Services: Stuck in the shadows
Securities lending took a major hit in the 2008 crisis. For those funds that stayed the course, Cécile Sourbes finds new regulation promising more activity, but threatening to raise costs
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Special Report
Securities Services: Transitional, but not trivial
Most investors now recognise the advantages of specialist transition management. But Andrew Williams warns against the easy route of deploying one’s custodian to the task
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Asset Class Reports
Emerging Market Debt: Re-calibrating risk
Early summer saw volatility back in global markets, and nowhere more so than local currency emerging market debt. Joseph Mariathasan dampens out the noise and re-assesses the underlying fundamental arguments for the asset class
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Asset Class Reports
Emerging Market Debt: Missing linkers
Emerging-market inflation-linked bonds are entering a new era. Martin Steward asks how they might fit into European institutional investors’ portfolios
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Asset Class Reports
Emerging Market Debt: Throwing light on the shadows
Joseph Mariathasan looks at the little-understood world of Chinese SME non-bank financing, which is fast on its way to becoming one of the world’s most important debt markets
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Asset Class Reports
Emerging Market Debt: Corporate issues
How will emerging market corporate debt fare through the first real challenge since it became a genuinely mainstream asset class? Federico Carballo and Florence Duculot offer their prognosis
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Asset Class Reports
Emerging Market Debt: The great correlation
Emerging market debt has been driven by Fed policy more than fundamentals
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FeaturesBe smart with smart beta
Stefan Dunatov emphasises the importance of consistency between strategy, investment beliefs and implementation when exploiting techniques like smart beta
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Features
Focus Group: Pressure to find a balance
A majority of the respondents to this month’s Off The Record survey (60%) use LDI techniques to manage their liabilities. Of these, almost half (seven respondents) thought yields from core government bonds and rates on interest-rate swaps could fall even lower than they did in the summer of 2012.
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Features
What’s on the menu?
As CIO of the Wasserdicht Pension Funds in the Netherlands, I have quite a bit to do with our fund’s boards and committees. I am on the management board of what we now call the ‘investment bureau’ and in that role I have to sit in on many trustee board meetings as an observer and answer questions.
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Special Report
Top 1000 Pension Funds: The thrifty thousands
Roger Urwin, global head of investment content at Towers Watson, noted earlier this year that the world’s leading investors are upping their internal resources and adopting the organisational characteristics of asset managers. Urwin’s focus was on what he calls the ‘Thrifty Fifty’ largest institutional asset pools. Our reference to ‘Thrifty Thousands’ on the cover of this year’s Top 1000 supplement owes a debt to Urwin’s coinage.
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Special Report
Top 1000 Pension Funds: Improvement, not punishment?
Michel Barnier appeared to make a major concession when he announced a delay in the implementation of solvency requirements in the revised IORP Directive last May. But the result has arguably not been greater clarity. Cécile Sourbès outlines a number of scenarios for the future of the Directive
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Special Report
Top 1000 Pension Funds: Information overload
The amendment to the law governing Austrian Pensionskassen needed to be amended before it was even implemented. Barbara Ottawa reports
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Special Report
Top 1000 Pension Funds: Discouragement for early retirement
The government has held the official retirement age at 65, while introducing measures to progressively raise the minimum early retirement age, writes Nina Röhrbein
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Special Report
Top 1000 Pension Funds: Tax reforms and Solvency II on the agenda
Some pension funds defy a 2% cap on dividend payments agreed in the government-industry pact while the regulator continues to update and tighten the rules, writes Rachel Fixsen
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Special Report
Top 1000 Pension Funds: Final phase of reform aims to take account of all risks
Finland’s financial regulator wants risks faced by pension providers to be assessed using the same principles as in the rest of the financial industry, according to Rachel Fixsen
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Special Report
Top 1000 Pension Funds: Pressure for deeper and more thorough reforms
The government is working on new measures to overcome the growing pension deficit, which is expected to swell to €20bn by 2020, writes Cécile Sourbes
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Special Report
Top 1000 Pension Funds: Progress on pooling through AIFMD implementation
Jonathan Williams notes the advent of the Investment-KG pooling vehicle but few policies to support occupational pensions ahead of September’s federal election
