Latest from IPE Magazine – Page 411
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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, ...
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IP Asia
A global view of the financial crisis
Pension fund heads from around the world comment on the lessons they have learnt from the GFC.
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IP Asia
Lesson of the crisis for the Social Security Fund
Dai Xianglong, chairman of China’s National Council for Social Security Fund (NSSF) was a keynote speaker at the Pacific Pension Institute’s 2009 Asian Pension Fund Roundtable in Bangkok. Chairman Dai says the assets of the NSSF are expected to exceed 1 trillion RMB (approx. $150bn) within two years. He believes ...
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IP Asia
Don’t try to be too smart
That is the advice of French research institute EDHEC, as it increases its activity in the Asian region. Lionel Martellini, professor of finance and scientific director of the EDHEC Risk Institute, explains the group’s attempts to develop an alternative to traditional index benchmarking.
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IP Asia
Is this China’s bubble period?
PIMCO Japan’s Koyo Ozeki has produced an interesting study of China’s real estate boom in comparison with the major asset bubble that brought Japan to its knees in the late 1980s.
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IP Asia
China heading for disaster on the RMB
Beijing’s determination to avoid a dramatic RMB appreciation reinforces a monetary and FX dis-equilibrium that perpetuates large and unsustainable external imbalances that are without precedent.
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IP Asia
Asia’s pensions among the best and the worst
Australia and Hong Kong rank highest because the overall structures of their old age provisioning systems are quite balanced, despite setbacks to their funded systems as a result of the financial crisis.
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Special Report
Stock responses
The speed and extent of this year’s equity bull market has arguably made it trickier to position for the longer-term economic recovery. Martin Steward asks portfolio managers about the courses they are setting
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Asset Class ReportsStill the wild frontier
US small and mid caps remain the crucible of corporate capitalism and opportunity. But Joseph Mariathasan finds that the challenge is in steering through the sheer variety of stocks and managers
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Country Report
CEE: Pensions and the economic crisis
The global recession has affected the countries of central and eastern Europe in markedly different ways. Krystyna Krzyzak analyses the significant impacts of the crisis on the region’s supplementary pensions systems
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Features
A handmaid’s tale
The memorandum of understanding (MOU) between the International Accounting Standards Board and its US counterpart, the Financial Accounting Standards Board is key to understanding why European businesses are in danger of drowning in what increasingly resembles a tide of accounting effluent.
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Features
UK covenant semantics
Almost 18 months into the financial crisis, UK pension funds are still struggling to ensure employer covenants will protect pension plans should a company go under or be unable to plug the deficit. But lessons have also been learned in that time. This suggests trustees are at least improving their own governance.
