Latest from IPE Magazine – Page 412
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Features
Fiduciary futures
Pension funds outside the Netherlands struggled to understand fiduciary management only two years ago, but now the concept is thriving and evolving independently in different European countries, a report finds.
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Interviews
Concentrating on value
“Believe it or not,” says David Barse, president and CEO of Third Avenue Management, “I think we’re boring. Our portfolio might look interesting, but we never change our style or basic investment philosophy for different markets, or even for different asset classes, market-caps or regions. I once overheard an investor who thought he’d muted the conference phone say, ‘This guy says the same damn thing every time’. I thought that was the greatest compliment.”
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Features
Pension funds on 2010
Pension fund respondents to this month’s Off The Record survey on the outlook for 2010 had different views on how the new year will shape up.
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Features
Diary of an Investor: Fortune favours the brave
I am in Hong Kong. Not only am I visiting Chinese factories to taste the potential of Asian growth stocks, as my Asian equity manager and host explains, but I have also learned about what the new year might hold.
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Special Report
Governance push in Japan
The Japan Engagement Consortium aims to improve Japanese corporate governance standards at the same time as companies realise they must improve to attract investors, reports Nina Röhrbein
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Interviews
A Hamburg asset
The phlegmatic Hamburgers are often compared with the British by dint of their conservative outlook and controlled disposition. Perhaps no wonder that a Hamburg institution like Berenberg Bank should already count a UK local government pension fund among its asset management clients – and that it should be hunting for more such clients outside the German speaking world.
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Interviews
Concentrating on value
“Believe it or not,” says David Barse, president and CEO of Third Avenue Management, “I think we’re boring. Our portfolio might look interesting, but we never change our style or basic investment philosophy for different markets, or even for different asset classes, market-caps or regions.
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IP Asia
Building India’s pension future - introduction
In this special report, IPA’s India correspondent Joseph Mariathasan explains the issues and talks to those involved in mapping out India’s pension future.
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Opinion Pieces
The sands shift
December 2009 may have marked the end of the downturn in US for the job market and retirement savings, after two very tough years. There were signs of stabilisation with companies starting to hire again, while employees who survived received statements from their pension funds that were no longer horrible.
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Special Report
SMID sweet spot
Patrick Quinn argues for specific small and mid-cap mandates – and active management – as attractive risks at this point in the economic cycle
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Features
Global macro lessons
They may seem worlds apart, but global macro managers might have some useful things to teach pension funds, writes Martin Steward
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Features
Spreading the risk
Diversified growth lives up to its name, covering a diverse range of institutional strategies with diverse potential uses for pension funds, finds Christine Senior. But is the strategy discredited?
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Special Report
Dark forces
Uncertainties govern any future projection of the equity risk premium, argue Wim Barentsen and Svetlana Rodionova, making scenario analysis essential to APG’s asset-liability matching process
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Opinion Pieces
AIFM Directive delayed
Delayed scheduling in Brussels of the Alternative Investment Fund Directive — by about six months — might be bringing smiles to the faces of the anti-reform lobby. They would not mind at all that the Directive’s final clearance, through a European Parliament plenary session, is now estimated for June or ...
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Features
Ong’s law of finance
When leading financial practitioners and academics convened in Qatar earlier in the autumn at the launch of QFinance to discuss the future of financial services regulation, it seemed that the economic tsunami of 2008 was finally receding and normality was returning. Banks have spent most of the year rebuilding their ...
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Opinion Pieces
Will Price, International Organisation of Pension Supervisors
We live in a world of integrated markets where co-operation and cohesion of our diverse regulatory approaches is key to understanding and mitigating the impact of the global financial turmoil.
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Special ReportPricing equity risk appetite
Historic excess returns from equities tell us little about the risk premium embedded in valuations at any given time. Toby Nangle and Hartwig Kos explain how a forward earnings-based model allows them to take account of extreme economic scenarios that could disrupt those earnings
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Special Report
Dynamic alpha risk budgeting
Dynamic management of core/satellite allocations might seem an ideal strategy for maximising return while minimising costs. But this approach can be difficult to execute, argues Daniel Wallick
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FeaturesGoing beyond sound-bite leadership
In the final article in this series, Neeraj Sahai and Amin Rajan conclude that asset mangers can no longer afford to confuse the buzz of the investment function with leadership
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Special Report
SMART portfolio management
Static portfolio management techniques fail because they cannot respond to changing economic conditions. Arun Muralidhar offers an alternative
