Latest from IPE Magazine – Page 39
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Country ReportNetherlands: A bad year for performance
Most Dutch pension funds suffered double-digit losses in 2022
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Country ReportNetherlands: Interview with Agnes Joseph
The current timetable leaves no margin for error, Achmea’s Agnes Joseph tells Tjibbe Hoekstra
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Special ReportRegulation: IPE’s guide to pensions regulation in six key European countries
IPE’s guide to pensions regulation in six key European countries. Gail Moss reports
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Asset Class ReportsEmerging market equities – India’s dancing elephant in the room
Despite challenges with corporate governance and corruption, the prospects for India are too bright to ignore for investors
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Asset Class ReportsEmerging market equities – Rise of the Gulf equity markets
The Gulf region is changing dramatically and provides growing opportunities for emerging market investors
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Opinion PiecesA farmer's revolution could upset pension reforms
The new populist Farmers’ Party (called BBB) won Dutch provincial elections in a historic landslide victory in March. Mainly attracting older voters in rural areas, the party rode a wave of public dissatisfaction about the government’s policies.
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Opinion PiecesQuestions BP investors should ask themselves
A lot has happened in sustainable finance since the last AGM season: an energy crisis in Europe, an escalating legal campaign against ESG in the US, a credibility crisis for the world’s biggest net zero investment group, and ground-breaking political agreements to protect the planet’s natural resources and marine ecosystems.
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FeaturesAccounting: IFRS’s Kono says no
On the face of it, the staff at the International Sustainability Standards Board (ISSB) have done a good job so far.
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Opinion PiecesUS: Private equity losses weigh on pension funds
US public pension funds should brace for a big negative surprise when they prepare their reports for the fiscal year ending 30 June 2023. Only then will their returns reflect losses from 2022 in their private equity (PE) portfolios.
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FeaturesUkraine: The mother of all impact investments
Institutional investors can play a crucial role in rebuilding Ukraine in a post-war future
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FeaturesEmerging markets decarbonisation
The International Energy Agency estimates that developing economies and emerging markets are responsible for more than two-thirds of global carbon emissions.
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FeaturesAhead of the curve: Introducing the concept of a carbon risk-free curve
As global investors and companies progress towards their net-zero emissions targets, the concept of a carbon risk-free curve becomes increasingly relevant within the fixed-income market. In our view, this curve should provide a reference for evaluating the risk levels of bonds in relation to their issuers’ CO₂-equivalent (CO₂e) emissions and can therefore help investors to assess the impact of changes in CO₂e emissions on the yield spread of fixed-income bonds.
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Opinion PiecesGuest viewpoint: LDI regulation should not ignore private asset solutions
In the aftermath of the liability-driven investing (LDI) crisis, The Pensions Regulator (TPR) in the UK drew up guidelines for pension funds to improve the resilience of LDI strategies. These guidelines primarily aim to support the creation of liquidity buffers so that pension funds can withstand yield shocks. To that end, the guidelines advise pension funds to conduct stress tests and identify suitable collateral with respect to both leveraged and unleveraged LDI strategies using yield-shock scenarios.
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Opinion PiecesEmerging market investors should take the long view
For institutional investors, investing in emerging markets is a true test of fiduciary duty. The asset class – if it can be defined as such – has enormous potential, yet it is also risky, not just in terms of volatility but also of reputation.
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InterviewsNikko Asset Management: Complex, creative thinking
Stefanie Drews is at home with complexity. She speaks several languages fluently, including Japanese, and tells us she still does her maths in Italian.
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InterviewsInterview: Hanneke Smits of BNY Mellon IM on diversity
The 30% Club started in the UK in 2010 with the ambition to raise female board representation to 30%. It is largely run as a network of volunteers, so new chair Hanneke Smits stresses the importance of having the backing of her “day job” at BNY Mellon Investment Management, where she is CEO. The investment firm was an early supporter of the club, which was co-founded by Helena Morrissey, then CEO of Newton (part of the BNY stable).
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InterviewsPension funds on the record: In-house due diligence of private debt managers pays off
Experienced alternative credit investors find that risk-adjusted returns are better than in the more liquid credit markets
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InterviewsPZU TFI: Building the future of Polish pensions
Marcin Żółtek (pictured), CEO of PZU TFI, one of Poland’s largest managers of DC pension savings, tells Jakub Janas and Carlo Svaluto Moreolo about the firm’s role in the Polish pension system
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Opinion PiecesAustralia: Super funds shift to fixed income
With fear of recession in Australia and globally, superannuation funds have gone into defensive mode. Cash and liquidity are two key considerations for CIOs, and some are waiting to take advantage of attractive market opportunities.
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FeaturesThe West should understand the strengths and limitations of Enterprise China
China is fast becoming the West’s bogeyman. Yet a hard decoupling of the two would be a lose-lose situation for both. Despite the tensions, private companies face the challenge of creating viable strategies for interactions with China that could make the difference between success and bankruptcy.
