Latest from IPE Magazine – Page 429
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Opinion PiecesBrave new world?
When liquidity was abundant, serious bottom-up credit analysis was neglected in favour of spurious correlation assumptions. The credit crisis brings us back to a more cautious new world, writes Roger Sadewsky
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Asset Class Reports
A new taxonomy
Market dislocation and unpredictable government interventions have re-ordered the natural environment of credit. Joseph Mariathasan asks if the old taxonomies are still fit for purpose
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Features
Time to call a specialist?
The credit-market dislocation has opened up opportunities well beyond core corporate bonds. Martin Steward asks whether pension funds should get specialists onboard, or just loosen their existing bond mandates
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Features
Stay dry in a crisis
Nina Röhrbein spoke to Gerhard Neustädter, head of asset management at Bonus Pensionskassen in Vienna, about his fund’s approach to managing assets and risk
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Features
Italian regulator urges mergers
The new head of Italy’s pensions regulator has made it clear that a consolidation of pension funds is necessary for the future of the industry.
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Features
Across borders
Cross-border arrangements and recognition of local employment and social laws – a difficult task, but it must be kept simple to work, argues Christian Reichel
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Opinion Pieces“Any ALM study should consider the effects of Black Swan events”
Pension schemes are suffering a double blow at the moment. As well as increased deficits there are also concerns about the strength of the sponsor.
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Features
A page or a phone book?
In case anyone has forgotten, the objective underpinning the IASB’s bid to overhaul IAS19 is to ensure that the users of financial statements, or analysts, have access to what the board likes to call timely and decision-useful information.
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Opinion Pieces
A consultant union
A new investment consulting player was born this year, the result of the merger between Mercer and Callan. The combined Mercer-Callan entity employs around 375 people, controls about 20% of the US market and has offices in 14 cities.
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Opinion Pieces
Quo vadis IORP?
What is the future for Europe’s Institutions for Occupational Retirement Provision (IORP) directive?
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Special ReportAfter the bubble bursts
Spain’s banks were hit by the collapse of the local property market. And they control the pension funds, notes George Coats
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FeaturesThe advantages of conservatism
Portuguese pension fund asset allocation has been criticised in the past for a traditional approach that lost out on potential gains. But George Coats finds that at a time of market crisis it may limit losses
