Latest from IPE Magazine – Page 382
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Opinion Pieces
Peter Montagnon, Senior investment adviser, Financial Reporting Council
“The Stewardship Code does not require all its adherents to behave like activists”Peter Montagnon Senior investment adviser, Financial Reporting Council
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Interviews
Hedging liabilities with benchmarks
What are your fixed income benchmarks? Stefan Ros CIO SPK Sweden Invested assets: SEK19.5bn (€2.2n) Participants: 150 sponsors and 38,000 beneficiaries 99% DB, 1% DC Funding level: 166% (Dec 2010) Date established: 1944 Approximately 70% of our overall asset allocation is ...
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Opinion Pieces
Muni transparency
US lawmakers, investors and the Securities and Exchange Commission (SEC) are asking state and local administrations for more transparency about their pension liabilities. All are concerned that these liabilities are increasing the risk level of the $2.9trn (€2.1trn) of municipal bonds issued to balance local public budgets.
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Opinion Pieces
MEPS rush green paper follow-up
Substantial indications of the direction Brussels is likely to take on pension policy are emerging surprisingly early as a follow-up to the Commission’s policy paper of last July.
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Features
Schemes defy euro-zone uncertainty
Pension funds and investors in general faced an uncertain 2010, thanks in large part to the uncertainty around the euro-zone’s future.
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Features
Repeating the pensions mistake
Think back to 2006. Armed with a vague plan for its supposedly joint effort with the US Financial Accounting Standards Board (FASB), the International Accounting Standards Board (IASB) set out to address the measurement challenges presented by so-called contribution-based promises. For its part, we were led to understand that the ...
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Features
Do investment innovations work?
The current crisis will be the mother of innovation. But Amin Rajan cautions that, after a traumatic decade, it is also time for a reality check: which of the modern innovations have worked, which have not, and why?
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Country Report
Ireland: Out of the gloom
Ireland’s future once lay in financial services. What now? Christine Senior reports
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Country Report
Ireland: Ireland’s pension challenges
The Irish Association of Pension Funds’ Jerry Moriarty reviews a year in Irish occupational pensions and charts the way forward in 2011
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Country Report
Ireland: Auto-enrolment with a punch
With reforms for ailing DB schemes viewed as more urgent and in parts easier to implement than the sweeping reforms suggested for the DC sector, Ireland seems set to forget its pledge that auto-enrolment was the way forward, writes Jonathan Williams
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Country Report
Ireland: Salvation stalling
In common with defined benefit schemes across Europe, Ireland’s are facing an existential crisis, with underfunding and closures widespread. New legislation to aid the industry was promised, but a year later has failed to materialise, finds Jonathan Williams
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Country Report
Ireland: A €1bn question
The leading Irish companies contributed €1bn to pensions in the financial year 2009 but there were few substantive changes to pension arrangements, writes Conor Daly
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Country Report
Ireland: Fixing a broken model
The era of the traditonal managed fund is over, writes David O’Connor
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Country Report
Ireland: Ireland’s political football
There is no doubt Ireland is facing an unprecedented sovereign debt crisis, says Jonathan Williams. But is liquidating the National Pensions Reserve Fund the best way to solve the problem?
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Features
The Engaged Investor: UK code, global practice
The UK Stewardship Code has inspired much discussion and activity overseas. However, Nina Röhrbein discovers significant obstacles to implementing something similar in other countries
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Special Report
The Engaged Investor: The South African code
South Africa is on course to become the second country after the UK to publish a stewardship code. The Code for Responsible Investing by Institutional Investors in South Africa (CRISA) works on an apply-or-explain basis and consists of four principles.
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Special Report
The Engaged Investor: When dialogue fails…
...exclusion prevails. Although in most cases a matter of last resort, negative screening among some pension funds is slowly on the rise, as Nina Röhrbein reports
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Special Report
The Engaged Investor: The E and the S in the UK code
Praised for its response to governance issues, the UK Stewardship Code has come in for criticism over its handling of social and environmental risks, as Mike Scott reports
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Special Report
The Engaged Investor: Credit for ESG
There are plenty of opportunities for shareholders to make their ESG views known to boards. Bondholders, however, have fewer chances, but they are applying some creativity. Lynn Strongin-Dodds reports
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Special Report
The Engaged Investor: Philosophy… or strategy?
Martin Steward talks to activist investors about how they justify the costs and risks of engaged ownership
