Latest from IPE Magazine – Page 390
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IP Asia
The case for emerging market debt
Amundi’s head of emerging markets debt management, Sergei Strigo, talks to IPA about the increasing appeal of fixed-income investment in developing countries
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IP Asia
Gold - the uninflatable asset
Gold may be a good hedge against an investment portfolio’s fiat currency exposures. But, Martin Steward asks, does it matter that some investors may be holding it for very different reasons?
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IP Asia
Dynamic allocation strategies on the rise
Assumptions underlying the orthodox static approach to asset allocation are being questioned in an environment where pension funds are forced to be ever more concerned about the volatility in their funding ratio.
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IP Asia
Securities lending evolves
Lending shares is no longer such a simple way to boost returns. Bee Ong reports.
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IP Asia
Plan to moderate structural economic risks
Can the government’s latest five-year plan reduce structural risks in China’s economy and ensure current growth rates are sustained? Iain Mills reports from Beijing.
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IP Asia
AusSuper chief questions role of bonds
Mark Delaney says fixed income investments might increase risks instead of reducing them
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IP Asia
Future Fund favours developed markets in the short term
Betty Kotevski reports on how the Australian fund’s alternative assets and debt holdings have boosted returns
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IP Asia
Central banks should take more risk with reserves
State Street Global Advisors’ Hon Cheung thinks central banks are too conservative when they diversify assets, and need to look beyond dollars, yen and euros.
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IP Asia
Peter Drucker on sensible investment beliefs
The Unseen Revolution’ was decades ahead of its time in predicting that the massive wave of retirement savings would offer an opportunity to make capitalism work for workers.
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IP Asia
New risks in benchmark and static allocation
What were participants worried about at the Pacific Pension Institute’s Asian 2010 roundtable in Hong Kong, “Managing Risk in the Face of Austerity”? Andrew Wood was there to find out.
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Features
Price risk protection
This month’s Off The Record survey focused on inflation. The vast majority of respondents (66%) believed that low inflation of less than 3% was likely in the next 12-18 months. A Dutch fund commented: “Currently, [we] do not see inflationary pressures to justify high inflation expectations. Furthermore, the European Central Bank’s monetary policy will be tilted to be more restrictive if and when an inflationary environment is anticipated.” A Danish fund added: “Economies are recovering slowly and at present only working at 70-75% of total production capacity”.
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Features
Diary of an Investor: Don’t ban hammers
This year, staff from the global offices of Wasserdicht pension funds are in Amsterdam for our annual get-together. This explains why I am hosting the event.
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Features
Finns juggle political hot potato
The 2011 general election in Finland could mean the end of the Loppu system. Iain Morse reports
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Special Report
SRI conquers non-equities territory
The emergence of new types of SRI strategy is a major factor in driving the market as Eurosif’s 2010 European SRI study highlights. Nina Röhrbein reports
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Interviews
Bridges to somewhere
Mark Weisdorf knows a thing or two about how and why pension funds invest in infrastructure assets. Before joining JP Morgan Asset Management (JPMAM) to set up its infrastructure investments group in 2006 he developed the real estate, private equity and infrastructure strategies for the Canada Pension Plan Investment Board’s CA$130bn (€92bn) portfolio, experience that led to his founding Mark Weisdorf Associates, a consultancy dedicated to advising institutional investors on their allocations to these asset classes.
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Interviews
The lion that’s finding its courage
The nightmare for any fund management firm is losing key managers whose clients follow them out of the door. It can tear apart a firm’s credibility, leading to further fund outflows and a further loss of credibility – a ‘death spiral’ that can demolish once mighty firms.
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Asset Class ReportsGlobal Equities: Towards true diversification
Yves Choueifaty, Tristan Froidure and Elizabeth Breaden wonder why the dynamic strategy implied by cap-weighted indices is regarded as ‘passive’ and posit their ‘anti benchmark’ portfolio as a true proxy for the equity risk premium
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Asset Class Reports
Global Equities: World betas
Stock-specific risk dominates equity returns, finds Sudhir Nanda. But stockpickers should be aware that the contribution of systemic factor risks varies significantly across regions, sectors and time
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Asset Class ReportsGlobal Equities: History lesson on risk
Real stock market returns reveal the true frequency of ‘once in a century’ crashes,says Paul Kaplan
