Latest from IPE Magazine – Page 386
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IP Asia
Sustainability: smoke and mirrors
by Bee Ong - If sustainability reporting is weighted towards appearances, how can investors get a reliable gauge of their risk of loss, or probability of improved financial performance?
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IP Asia
Renminbi funds are ready for take off
by Andrew Wood - The growing pool of offshore renminbi creates a very attractive opportunity for asset managers who want to launch renminbi-denominated funds.
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Features
Presenting Failures
The IASB’s discussion of pensions accounting in November posed some of the hitherto unanswered questions about the drive to converge IFRS and US GAAP: at precisely what time are accounting standards going to be set?
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Opinion Pieces
Svobodka Kostadinova and Nickolai Slavchev
For decades, countries in Europe and beyond have been rebounding between the two ideas of privatising social security and nationalising private pension schemes. Perhaps it is high time that the EU proposed a third way.
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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.
