Latest from IPE Magazine – Page 385
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Features
Long-term investor, short-term horizon
Nina Röhrbein spoke with Truls Tollefsen, chief financial officer at Vital Forsikring, about the Norwegian insurer’s approach to managing its client’s long-term interests in the face of a strict annual guaranteed return objective
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Features
On the starting blocks
Kalpana Fitzpatrick assesses industry reforms to the UK’s fledgling National Employment Savings Trust
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Features
US success story
The Thrift Savings Plan serves as something of a prototype for NEST. It has widened pension participation and demonstrated good returns, reports Maria Teresa Cometto
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Features
Pensions cross borders
Gail Moss assesses the issue of pension provision for international workforces
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FeaturesFocus on payment
Kerrin Rosenberg and Theo Kocken draw startling conclusions about the future shape of pension fund liabilities
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Special ReportDiversity revealed
The financial crisis and recession across Europe has uncovered fundamental differences between CEE economies and markets. Krystyna Krzyzak untangles what we have learned
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Special Report
Convergence to emergence
There is much diversity in emerging Europe’s debt markets, finds Matthew Craig
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Special Report
PE hits CEE heights
Europe’s biggest LBO of 2009 was a CEE deal, reports Joseph Mariathasan. But it is difficult to see the region becoming a core emerging market private equity market like Asia
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Special Report
Russia: The Wild East
By any measure, Russia is among the cheapest of the major emerging markets. Martin Delaney asks, is this an opportunity, or a sensible ‘wild east’ discount?
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Special ReportRussia: Untapped energy
Martin Delaney discovers that it is the growing middle class and its appetite to consume that drives Russian markets – not just oil and gas
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Features
Russian bank roulette
Shares in the bigger Russian banks are spiking on the belief of further consolidation and privatisation in the sector, writes Richard Hemming
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Special Report
Fees: Just rewards
Unfairness, high levels, perverse incentives: fees are always guaranteed to raise temperatures. Martin Steward considers some imaginative proposals for alignment of interests
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Special Report
Fees: Beta-zero fees
Bernd Scherer tells Martin Steward that asset managers should take a good look at – and possibly hedge – the market risk embedded in their fees. How might that change the relationship with clients?
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Special Report
Fees: The big issue
Size definitely affects active management risks and returns, writes Matthew Craig. But the relationship is by no means a simple one
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Interviews
Latin translation
“We have a saying in Spain,” says BBVA’s head of global asset management Luisa Gómez Bravo. “‘No vendas la piel del oso antes de haberlo cazado’.” Don’t sell the bearskin until you’ve hunted the bear. The proverb comes in response to the question of how the €140bn asset management unit of one of the biggest global banking brands remains so little-known among Europe’s institutional investors.
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Asset Class ReportsEmerging Market Equities: Emerging questions
The days of a simple emerging market allocation are over. Correspondingly, JosephMariathasan finds a variety of approaches among the top performing managers
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Special Report
Positive impact in Africa
A local presence and a tilt towards impact investing is the way to succeed on the final frontier, writes Nina Röhrbein
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Features
Diary of an Investor: Player and dealer
I caught up with an old pal at the IPE Awards in Monaco in early December. As a previous IPE winner, we at Wasserdicht Pension Funds were invited to a special reception to celebrate the tenth anniversary of the awards. But beforehand, Pim and I met for an aperitif.
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Features
The year ahead
This month’s Off the Record survey asked European pension funds for their outlook for 2011, and received varying views and concerns.
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Features
A stitch in time
Predicting life expectancy is never easy. In addition to the more obvious factors that need to be considered, Swiss Re’s Daniel Ryan points out some less obvious but potentially beneficial ones





