Latest from IPE Magazine – Page 405
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IP Asia
China – what lies ahead?
Expect growth, lots of it. That is conclusion of specialist research house Z-Ben Advisors, in their most recent analysis of the Chinese fund management market. Ivan Shi provides this executive overview.
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IP Asia
Asia's boom hides system fragility
by Kevin Hebner - the Asian the financial system remains under-developed, a failing that could take decades to rectify. This is particularly true of China, which requires dramatic liberalization of fixed income and FX markets, and the phasing out of its stringent capital controls.
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IP Asia
Industry Funds Transition Leadership
by Gordon Noble - With its core construction and building sector membership Cbus has a long history of developing its own property assets through its own property arm Cbus Property
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IP Asia
Rebuilding The GPF’s Image Is A Key Priority
Sopawadee Lertmanaschai is the new secretary general of Thailand’s Government Pension Fund (GPF), which manages nearly US$13 billion in assets for 1.16 million civil servants. Lertmanaschai took over the post on January 18. It was previously held by Visit Tantisunthorn from 2001 until he was dismissed in June 2009, due to alleged irregularities. Just weeks into the job, the former chief marketing officer of the Stock Exchange of Thailand shares her plans for the GPF with IPA’s Rita De Ramos.
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Features
Diary of an Investor: Risk averse
So good-bye to the new normal (not even adieu) and hello again to old normal. Well, sort of. Marketing seems to be back on the agenda for all those asset managers with such wonderful alpha-producing track records, and of course for all the beta players too. But we are taking beta blockers here at Wasserdicht Pensioenfonds – it’s the A-class performance we want. Except in Germany.
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Interviews
The full toolbox
Think Lyxor Asset Management’s brand-defining products and the word ‘barbell’ comes to mind: on one end, Lyxor ETFs and other index products (the cheapest and most passive vehicles); at the other, the market-leading hedge fund managed account platform (the most expensive and active investment strategies).
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Features
The emergency room
Fat-tailed models need to adapt well in normal market conditions and differentiate between asset classes. Boryana Racheva-Iotova compares fat-tailed models with GARCH based on stable Paretian distributions, t-distributions and extreme value theory
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Asset Class ReportsGlobal fixed income: Outward bound
European investors are breaking free of local markets and global benchmarks in the search for yield, writes Joseph Mariathasan
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Features
EC’s pensions paper aims ‘unclear’
Pensions are on the European Commission’s radar again, and three divisions have been given the task of preparing a Green Paper on the creation of an EU framework for pensions by the middle of this year. Pension fund bodies and consultants say they welcome the move to talk about encouraging pensions savings. But there is apprehension about the possible content and concerns about the Commission’s aims, in part because there appears to be a degree of urgency to the process.
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Features
Changes ahead for Dutch pensions
Dutch pension fund governance and investment risk strategies have rarely faced such tough scrutiny. Following the publication of the Frijns and Goudswaard Committees’ reports, as well as evidence of closer oversight on the part of the supervisor, De Nederlansche Bank (DNB), a number of initiatives and recommendations are expected to ...
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Country Report
Netherlands: Save our system
The Dutch pension system is decaying due to legislation, accounting practices and the economic climate, writes Anton van Nunen
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Country Report
Netherlands: In practice
Both the Frijns Committee and the DNB, the Dutch supervisor, have been clear in their assessments: pension funds need to bolster their governance in order to bring asset management and risk management more under control. Mariksa van der Westen and Miranda Schoutsen ask what pension funds are doing to meet ...
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Country ReportNetherlands: Facing tomorrow’s risks today
Change is not an extravagant luxury, Piet Hein Donner, the Netherlands’ minister for social affairs and labour, told Mariska van der Westen
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Country Report
Netherlands: Pensions should be a 'good deal'
Miranda Schoutsen spoke to Kees Goudswaard, the author of the report ‘A Strong Second Pillar’
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Country ReportNetherlands: Old giants on slippery ice
Pension funds are like vulnerable old giants reaching with stiff fingers to fasten their skates before launching themselves onto the slippery ice of the future. Jean Frijns, chairman of the Frijns Committee, told us how he thinks these giants can be made fit for the future, Jean Frijns
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Features
Pension fund returns bounce back in 2009
Improvements in global markets from March 2009 resulted in the majority of European pension funds posting double-digit investment returns by the end of the year.
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Features
Finland mulls reforms
The Finnish government and labour market organisations are evaluating reform proposals made by two working groups aiming to identify ways of increasing working life and raising the retirement age. The working groups were set up after the agreement between social partners and the government in March 2009 to increase the ...
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Features
Nod for investment consultants
This month’s Off The Record survey focuses on pension funds’ use of investment consultants and their satisfaction with the services provided. Some 62% of funds said they used investment consultants on a retainer basis, while 38% did so on an occasional or project basis.
