Latest from IPE Magazine – Page 409
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Country Report
Poland: On a collision course
A proposal to cut second pillar contributions to pension funds would leave most OFE pension funds unprofitable and the rest to invest in low-yielding investment strategies, finds Krystyna Krzyzak
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Features
Distressed still not de-stressed
As in equity markets, Caroline Hay finds that the big bounce in distressed debt and leveraged loans since the lows of last winter raises as many questions as answers
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Country Report
Romania: Teething troubles
Economic difficulties and political turmoil have hindered but not derailed the country’s creation of a three-tier pension system. Thomas Escritt reports
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Special ReportRisk on or risk off?
The financial crisis and subsequent massive policy responses have dislocated asset markets from economics. Martin Steward attempts to delineate an investment framework to cope with the confusion
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Special Report
Alphabet soup
W, U, V, L? It’s all a symptom of the misleading ‘patternicity’ that dogs traditional macroeconomic thinking, argues Damian Handzy
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Special Report
Hidden value
Klaus Blaabjerg tells Martin Steward that hunting down the size and value effects in high-yield credit spreads can minimise downside risk and maximise acquisition risk
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Special Report
Carry on recovery
Uncertain economic recovery and the global rebalancing to a ‘new normal’ argues for volatility and directional emerging market FX trades, but Lynn Strongin Dodds finds that it’s too early to write off the carry trade
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Special Report
The convexity of convertibles
The logic for a tactical position in convertibles was clear at the beginning of 2009. CQS told Martin Steward about the strategic case as we enter 2010
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Asset Class Reports
Where next for hedgies?
Market conditions, consolidation and regulatory developments are changing the landscape for hedge funds. Jean-Charles Bertrand explores the new topography
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IP Asia
Access ETFs likely to feature in 2010
Activity in the exchange traded funds market looks set increase even further this year, as the major promoters boost their product range in Asia. Although the market is still developing, with the level of marketing activity, ETFs have quickly become an integral part of the Asia-Pacific region’s financial landscape. The ...
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IP Asia
New indices help investors adopt passive ESG policy
As SRI indices proliferate, there is an increasing need for comparative data on the indices themselves.
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IP Asia
New opportunities in emerging corporate bonds
Emerging market corporate bonds staged an impressive performance in 2009. T. Rowe Price has just produced a paper outlining the opportunity for institutions to diversify their bond alpha. As an asset class, emerging market corporate bonds are taking a more prominent role in fixed income portfolios, particularly as emerging market ...
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IP Asia
Beyond Domestic Bias
For many years pension funds across Asia were content to focus mainly on domestic markets - with high allocations to domestic bonds and equity. This home bias proved costly for many asset owners who missed out on a global uptick in equities, especially in emerging markets. Many Japanese pension funds, ...
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IP Asia
Where next for the NPS?
The New Pension Scheme framework is a tremendous concept, but turning the concept into a successful solution to the problems of old age poverty in India is a task that requires a level of commitment, organisation and resources that are still yet to be deployed. The experience of the past ...
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IP Asia
The IIMPS “Micro-Pension” model
Adopting the NPS for the mass of unregulated workers in the informal sector requires the ability to set up systems that enable small amounts of cash to be remitted at irregular intervals over long periods of time. Much of the NPS framework has been set in place to provide this ...
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IP Asia
Civil service pension reform
A major element of India’s future pension strategy is the adoption by central and state governments of the NPS framework as the basis for future public sector pensions. The Indian central government introduced the New Pension System (NPS) with effect from January 1, 2004. Under the new pension system, the ...
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IP Asia
Strategies and incentives for expanding voluntary pension coverage
Recommendation of the OASIS report The financial needs of an individual across their lifetimes are inevitably complex, whatever their wealth. Poor people lead lives with unpredictable cashflows, requiring risk management and the solution of complex financial problems. “As a result, consumers need sophisticated financial products”, says Ajay Shah, a Senior ...
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IP Asia
The plumbing for the NPS – the Unique ID Authority
One of the most difficult aspects of establishing a pension scheme for hundreds of millions of the poorest segments of India’s society, is identifying who they are absolutely accurately over a period of a lifetime. Many of the potential participants in the NPS are illiterate, and there may even be ...
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IP Asia
Setting up of the New Pension Scheme
Given the drawbacks of the traditional provisions for pensions, India faced pressures for reform, which led a decade ago to two separate developments. The first of these was the OASIS report initiated by the Ministry of Social Justice in July 1998, written by a Committee chaired by Surendra A. Dave, ...
