Latest from IPE Magazine – Page 321
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Features
Lessons learned from the Henderson debacle
The out-of-court settlement in Janaury between a group of 23 investors and Henderson Global Investors over the management of an ill-fated infrastructure fund is a salutary reminder of the difficulty investors face when trying to claim redress after investments turn sour.
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Opinion Pieces
Put the bee back in beta
What is the price of a bee? And more generally, where does the extinction of bee populations – and with bees much of agriculture as we know it – fit into discounted cash flow and other investment/risk decision-making tools?
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Features
Pensions Accounting: Discount-rate saga runs
Back in January, this column posed a simple question: Can they fix it? The ‘it’ was the so-called six-A discount rate question.
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Opinion Pieces
Rhodri Preece, director of capital markets policy, CFA Institute
Does dark trading hurt market quality? It is a question that has vexed policymakers for some time, and has attracted renewed focus recently following certain exchange initiatives to establish non-displayed trading pools for retail orders. Understanding the relationship between dark liquidity and market quality has become central to the debate on market structure as authorities around the world consider revisions to their respective regulatory frameworks. Measures to support fair competition between displayed and non-displayed trading venues should be the focus of those efforts.
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Interviews
On the Record: Cheap and cheerful or approach with caution?
What is your European equities strategy?
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Features
Regulating Europe
Gail Moss reviews pension regulation and law changes under discussion in seven European countries
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Country Report
Belgium: Cross-border barriers
Cécile Sourbes asks what lessons can be learned from the failure of UMR to create an IORP domiciled in Belgium
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Country Report
Belgium: Thirst for higher yields
Belgian pension schemes are looking ahead to another year of improving funding ratios as they diversify fixed income portfolios, writes Rachel Fixsen
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Country Report
The Netherlands: The integral concept survives
Anton van Nunen assesses recent discussions on fiduciary mandates and argues against splitting risk from asset management
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Features
Yielding results
Ultra-low bond yields and high dividend yields suggest low-risk investors should consider equity income funds. Joseph Mariathasan looks at the options
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Features
Banks back in favour
Fund managers are overweight banking stocks for the first time since 2007. But Maha Khan Phillips finds that not everyone is convinced that now is the time to buy
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Special Report
Green listings
Nina Röhrbein reports on how stock exchanges apply pressure on their listed companies to be more sustainable
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Asset Class Reports
European Equities: Is there value in the periphery?
The most troubled countries in Europe appear to be turning a corner. Joseph Mariathasan looks at the opportunities in their equity markets, and asks if investors should go for quality or the more abundant domestic-focused and cyclical stocks
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Asset Class Reports
European Equities: Debating ‘quality’
Martin Steward finds three strategies, each with impressive longevity, illustrating three very different interpretations of ‘quality’ in European equities
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Interviews
Emerging markets, changing world
Julian Mayo, co-CIO at emerging markets specialist Charlemagne Capital, has a memory from the early 1990s that serves as a corrective to the idea of ‘de-coupling’.
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Features
Diary of an Investor: Cold weather, great pay
February is not the time to visit Toronto. Stepping outside the airport I am reminded how seriously cold it gets in Canada. Winters are mostly pretty mild in the Netherlands so we don’t get to skate on frozen canals like in the Old Master paintings.
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Features
Focus Group: Shaky confidence returns
Some 43% of those taking part in this month’s Off The Record survey were quite confident that the world economy and financial system are now over the worst.
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Opinion Pieces
Letter from Brussels: Social and labour issues
Disputes between Brussels and national governments are likely to emerge when the European Commission unveils in June its position on the rules concerning national social and labour law (SLL).
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Opinion Pieces
Big picture questions
BlackRock, the world’s largest money manager, has reached a record $3.8trn (€2.8trn) in assets, about 60% of which is for institutional clients, including pensions. CEO Larry Fink, commenting on his firm’s 2012 results, said that the institutional business will launch a “strategic client programme” this year.
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Features
Ireland’s challenge
Ireland’s presidency of the European Council is an opportunity for the country to showcase the progress it has made in repairing its finances and its economy since the bailout at the end of 2010.
