Latest from IPE Magazine – Page 413
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Country Report
AP3 Opportunities out of adversity
Despite what most in the financial sector would call a truly annus horibilis, the Third National Pension Fund in Sweden, warns against panicking and staring yourself blind on one bad year, particularly as an investor with a long investment horizon. Instead the management of the fund continues to focus on ...
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Country Report
AP4 Improvements despite criticism
Public pension funds are scrutinised in general and every decision is under the microscope, perhaps more so than in most areas in Sweden, with its tradition of open and transparent governance.
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Country Report
AP7 New directive leads to overhaul
It is probably fair to say that most pension fund managers are glad that 2009 is coming to an end and are looking towards 2010 with hope and apprehension rather than excitement. In Sweden there are, however, at least two pension fund professionals who are excited about the future.
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Country Report
Price for Norwegian DB guarantees
The Norwegian pensions oligopoly can only be challenged if employers transfer pensions to an IORP structure, argues Christian Fotland
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Asset Class Reports
EM debt comes of age through crisis
No one would envy the job that developed market pension fund managers face over the next few years. After the huge destruction in wealth brought about by last year’s credit crisis, they have a lot of catching up to do.
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Special Report
Refashioning beta
The emergence of alternative systematic equity indices raises profound questions about how we define ‘the market’, and how pension funds should benchmark and invest their core portfolios, writes Martin Steward
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Special Report
Case for new forms of equity indices
Stockmarket index providers should design their indices to help investors construct efficient portfolios rather than just focusing on being representative of the overall market, argues Felix Goltz
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Special Report
FoHFs – a good move for institutional investors?
As more and more investors begin allocating direct to hedge funds or using replication and index products, Stephen Oxley and Lisa Fridman offer a defence of the fund of funds
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Special Report
Multi-strategy gains currency
Investors should adopt a broad and diversified approach when investing in currency markets, finds Lynn Strongin Dodds
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Special Report
Tap into secondary market
Attractive opportunities are continuing to emerge in the secondary market for hedge funds as a result of recent liquidity challenges, writes John Anderson
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Interviews
Hedge fund hermeneutics
Although pension funds and their consultants are weaning themselves off their obsession with three-year track records, few would choose to park $1.3bn with a brand new fund of hedge funds – even if its founding partners bring two decades of experience from hedge fund stalwarts like Olympia, Pioneer and Momentum.
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Special Report
ESG concerns for cash funds
SRI money market funds might be growing in popularity, but levels of screening and transparency can leave a lot to be desired, find Dominique Blanc and Caroline Estimé
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Features
Diary of an Investor: Simple train of thought
Yesterday we had an ‘aha’ moment. Our departmental assistant, Maria, wondered why we were all doing so much. “Equities, government bonds, corporate bonds, property, currency, commodities, hedge funds, I don’t know how you keep track all of this.
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Features
Cautious about alternatives
This month’s Off The Record survey looked at alternative investments.
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Special Report
Evolution of global super deals
A new type of super-size mandate is emerging and the custody industry needs to respond to a new set of challenges, writes Iain Morse
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Special Report
An emerging prospect
Pension funds investing in microfinance should take a patient and responsible approach to their investments, says Ivo Knoepfel
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Special Report
Asia’s green fields of promise
Stimulus packages are helping spur green investments in Asian companies, which already have many advantages over their Western counterparts, including good access to capital and cheaper labour costs, finds Nina Röhrbein
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Special Report
Hedge cuttings
Hedge fund beta products and hedge fund indices potentially offer cheaper and more transparent access to the industry’s key strategies and exposures. Beverly Chandler assesses the options
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Asset Class ReportsSanctuary in the crisis
Emerging market debt has had a good crisis and is now firmly established in the mainstream. But, as Joseph Mariathasan finds, the complex matrix of exposures it represents raises the question of whether it is one asset class or many, and demands a properly considered allocation process
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Features
Easy riders
Portfolios of minimum variance stocks appear to reproduce a true risk factor beta that can outperform cap-weighted benchmarks. Martin Steward asks why no-one uses them in the real world
