Latest from IPE Magazine – Page 405
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Country ReportGermany: Focus on security
Frank Schnattinger outlines the results of the latest IPE-Institutional Investment survey of German institutional investors
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Country Report
Austria: Domestic headwinds buffet Pensionskassen
Second pillar pension losses during the financial crisis have strengthened the arguments of critics of Austria’s funded pension system. Barbara Ottawa reports
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Country Report
Austria’s equity puzzle
Barbara Ottawa finds Austrian pension funds focused on the here-and-now, especially when it comes to risk management. The equity returns of 2009 are no future panacea
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Special ReportLiabilities & Matching Strategies: Stractical
There are several ways to make LDI implementation smarter, but practitioners differ significantly over whether or not these are tactical moves – and the extent to which they should deviate from the strategic de-risking journey plan. Martin Steward reports
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Special Report
Liabilities & Matching Strategies: Bespoke fit, chainstore refund policy
The benefit that swaps bring to liability driven investing, of being able to create a bespoke hedge across almost the entire tenor of a scheme-specific liabilities curve, comes at a price: concentrated counterparty risk. The interbank market in swaps has not had to worry about that since 1999, when LCH.Clearnet ...
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Special Report
Liabilities & Matching Strategies: More bedtime reading from ASB
Stephen Bouvier looks at the UK ASB’s latest recommendations on pension liability accounting, and how they fit with ongoing IASB efforts
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Special Report
Liabilities & Matching Strategies: Inflation and pensions
Theo Kocken welcomes the recommendations of the Frijns Committee, which would bring the FTK in line with the effective ambitions of pension funds to provide indexed pensions
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Special Report
Liabilities & Matching Strategies: Modelling realities
Con Keating identifies some key problems in asset-liability modelling and liability-driven investment based on mixed-attribute accounting
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Special Report
Liabilities & Matching Strategies: All the King’s men
Rodrigo Olivares-Caminal untangles the issues for pension funds that find themselves creditors of a sovereign in default
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Special Report
Sovereign cycles: a return to the norm?
The absence of a sovereign debt crisis between 2003 and 2008 was part of the historical cycle, not a new paradigm, writes Scott B MacDonald. Bond-biased investors should prepare for the inevitable return of the painful part of that cycle
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Features
Multi-asset inflation funds
There are several multi-asset funds mandated to match or beat inflation. Martin Steward asks whether they are anything more than re-packaged absolute return products
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Special Report
ESG risk in a portfolio context
Nina Röhrbein reports on research into the implications that a ESG strategy can have upon asset allocation
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Features
How do you hedge?
This month’s Off The Record survey looks at pension fund liability hedging. Some 20% of funds responding to the survey had a current level of hedging relative to liabilities of over 100%, the highest being 115%. Over 25% of respondents had a level of 50-99%, while 29% gave their level ...
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IP Asia
How useful are performance measurement tools?
Richard Newell talks to John Fu, Senior Product Manager at J.P. Morgan Worldwide Securities Services, about the specific approaches institutional clients are adopting with regards to performance measurement.
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IP Asia
The importance of program trading
The evolution of portfolio construction has moved forward with processes and technologies designed to enhance implementation across global markets. Richard Surrency explains importance of program trading.
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IP Asia
Performance measurement - devil in the detail
As institutions streamline their operations in a bid to reduce costs, one area where pension funds have been unable to cut back is in performance measurement. Francis Braeckevelt explains how performance measurement services have evolved. It is difficult today for any asset manager or owner to get by without ...
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IP Asia
The Long-Short Score Card: 2007 to 2009
How did hedge fund managers handle the peaks and troughs of one of the toughest market environments most of them will have experienced. Richard Johnston, of Albourne Partners in Hong Kong, assesses the numbers.
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IP Asia
Modern Portfolio Theory – captivating the unwary
What cannot be measured easily is often not managed at all, even if it is much more important.
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IP Asia
Advancing the sustainability agenda
In Asia, there are many challenges involved in the effort to establish sustainability standards as business and investment norms.
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IP Asia
The Sharia alternative
by Bee Ong - Speculative they may not be, but the Sharia funds industry looks to be spawning its own hedge funds.
