Latest from IPE Magazine – Page 397
-
Special ReportFiduciary/Delegation: Still life in the FoFs model
While relationships with funds of funds are evolving, Katharina Lichtner outlines the costs and dangers of going it alone in private equity
-
Asset Class ReportsCredit: New world order
Joseph Mariathasan finds corporate bond managers coping with the new realities around benchmarking, ‘risk-free’ rates and agency credit ratings
-
Asset Class Reports
Credit: Graded ‘could do better’
Martin Steward talks to Standard & Poor’s about what exactly it means to rate a security AAA
-
Asset Class Reports
Credit: Real yields for real money
Martin Steward speaks to Babson Capital Europe, which argues that the time has come for European pension funds to allocate seriously to the loans market
-
Asset Class Reports
Credit: Qualities for the long term
Madeline Forrester makes the case for investing in high yield as part of a longer-term strategy
-
Asset Class Reports
Credit: Far from junk
High yield was a screaming buy back in March 2009. Joseph Mariathasan finds that healthy fundamentals provide good support for latecomers to come in when the broader markets get jittery
-
Features
Risk concerns top agenda
This month’s Off The Record survey found that 85% of respondent’s pension fund boards had raised risk management as an agenda item in the last six to nine months. The result of this was that several funds made adjustments to their risk management policies.
-
Features
Diary of an Investor: Know your onions
I am back in the UK talking about our defined contribution (DC) scheme for the UK pension plan. We are discussing managers. I am relatively new to this DC world, but how different can it really be? My colleague from the Wasserdicht UK DC pension scheme is Joe and he says we should not worry because he knows his onions. People say the Dutch and English can be very alike but just to be clear: in Holland we are not focused on onions. He briefs me before we see two managers.
-
Special Report
Local supporter
Nina Röhrbein finds out how the Minneapolis-based Community Reinvestment Fund is helping to funnel capital into distressed urban communities
-
Features
In the centre of things
Iain Morse finds private equity limited partners in central and eastern Europe hungry for long-term capital
-
Interviews
Munsters targets pension market
Robeco is boosting its efforts to cater to the Dutch pensions industry. This is not a huge surprise, considering the fact that CEO Roderick Munsters joined the asset manager from pension giant APG, Mariska van der Westen and Liam Kennedy write
-
Interviews
Beware falling knives
The Mudrick Capital Management project was set in motion in 2008 to take advantage of a once-in-a-lifetime opportunity – “the largest supply of over-leveraged corporations ever seen” combined with the most severe recession since the 1930s “has kicked off a distressed cycle that will be unprecedented in terms of length and depth of supply”, its website declares.
-
Special Report
Fiduciary/Delegation: Hedge fund beta: a cheap core portfolio?
If the trend is towards core-satellite hedge fund portfolios, what does that mean for resource budgeting? It is tempting to see this as a passive-active portfolio – why would an investor not wish to maximise her budget for the active part and minimise her budget for idiosyncratic risk, illiquidity risk and, of course, costs, in the passive part? This is the argument behind ‘hedge fund beta’ – investable indices, ETFs, super-diversified funds of funds and quantitative, hedge fund replicators.
-
Features
Pension funds – future farmers
Pirkko Juntunen records the growing popularity of farmland investment in the developing world
-
Features
ING OFE: Investing with your hands tied
Nina Röhrbein spoke with Grzegorz Chlopek (pictured), CIO and vice-president of ING PTE, Poland’s second biggest pension fund (with assets of €11.4bn) about the challenge of operating as a large institutional investor in a highly regulated market
-
FeaturesLessons from Canada
Gail Moss assesses the challenges Canada is facing in the area of workplace pensions
-
Opinion Pieces
Stephen Cooper, board member, International Accounting Standards Board
The issue of accounting for pensions has always been fraught for standard-setters who by necessity concentrate their efforts on the needs of investors who are, after all, generally considered to be the primary users of financial statements
-
Features
Better late than never
On 29 April the IASB published its proposals to revamp IAS 19, employee benefits, which “aims to make fundamental improvements to the recognition, presentation and disclosure of defined benefit plans by mid-2011. These improvements will make it easier for users of financial statements to understand how defined benefit (DB) plans affect a company’s financial position, financial performance and cash flows.”
