Latest from IPE Magazine – Page 316
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Opinion Pieces
Daniel Godfrey, CEO,Investment Management Association (UK)
“I want to focus on the importance of our industry in a new expression of our purpose, which underlines the inherent value of our work”
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Features
Quest for the ‘golden’ discount rate
We cannot foresee the long-term future, however much we would like to think we can, argues Alf Gohdes
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Features
A few words of advice…
As the International Accounting Standards Board and the International Financial Reporting Standards Interpretations Committee continue to deliberate the discount-rate objective in IAS 19, Stephen Bouvier invited Falco Valkenburg, one of Europe’s leading consultant actuaries to set out the challenges facing the standard setters
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Features
Leave nothing to chance
The advent of auto-enrolment in the UK has heightened focus on the need for robust risk management systems for DC plans. Gail Moss looks at a range of approaches
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Features
Taking risk budgeting a step further
An analytical framework at the fund selection stage can help spare DC fund participants the pitfalls of a more advanced approach to diversification, writes Thierry Roncalli
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FeaturesRussian pensions are booming
Reform of Russia’s supplementary pension system is having a strong and positive impact, while further regulatory changes are on the cards for 2013, writes Alexander Lorenz
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Features
Playing it safe
Nina Röhrbein interviews Bernard Caroyez of the Belgian pension fund Pensio B
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Country Report
Nordic Region: Diversification desired
Nina Röhrbein reviews the recent asset allocation and mandate activity of Nordic pension funds
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Features
Stuck in the middle
The mezzanine-debt opportunity has not gone away. But Martin Steward finds that success will probably depend on both greater focus and flexibility
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Features
Choosing the middle way
René Biner offers a 21-year data set that reveals surprising facts about historical loss rates in European mezzanine debt – and the advantages of vintage-year diversification
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Features
Once upon a time in the East
It may not quite be cowboy capitalism, but a showdown is due in China, writes Gary Greenberg
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Special Report
Room for improvement
A new survey reveals that the Dutch private equity sector has yet to fully integrate sustainability, as Nina Röhrbein reports
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Interviews
An emerging markets coup
After a burst of acquisitive growth during its years as the investment division of Lehman Brothers, Neuberger Berman’s time as an independent asset manager has instead been spent redefining its brand, building track records and expanding its global reach.
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Asset Class Reports
Private Equity: Springclean for portfolios
Joseph Mariathasan looks at the challenges facing pension fund limited partners trying to manage the size, complexity and risk exposures of their private equity portfolios
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Asset Class Reports
Private Equity: Secondaries redefined
Traditional secondary sales are rarely suited to problematic ‘end-of-life’ or ‘disrupted-cycle’ funds. Jennifer Bollen looks at some innovative, but complex, liquidity solutions
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Features
A tragedy of small decisions
Bob Swarup and Dario Perkins look at the latest developments in the euro-zone crisis and warn that while history doesn’t repeat itself, it does rhyme.
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Features
Diary of an Investor: It’s all about feeling in control
Our friends at PensionKøbenhavn have been visiting us here in Amsterdam. Last year, our two boards signed a mutual co-operation agreement with our Danish counterparts to start investment joint ventures. More informally, we both hope that we will also benefit from regular sharing of investment knowledge and experiences.
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Features
Surviving in a fat-tail world
According to Nassim Taleb, we are living in a fat-tail world where extreme events are common, while our ability to predict them is nil. Mariska van der Westen asked him how pension funds can survive in such an environment
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Features
Is Antifragile applicable to pensions?
Conrad Holmboe and Patrick O’Sullivan apply Taleb’s ‘antifragile’ idea to the pension fund world
