Latest from IPE Magazine – Page 545
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Features
The man with star credentials
The phenomenon of US movie stars crossing the Atlantic to tread the boards on the London stage is now well established – and it looks like the same thing is now happening in the pensions and asset management field. The latest high profile transatlantic transplant is Mark Anson of CalPERS, ...
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Features
Benefiting from backlash
In the wake of the Securities and Exchange Commission (SEC) investigation of potential conflicts of interest in consulting firms, small independent consultants are finding themselves in vogue – and they are determined to hold on to their position in the long term by proving that they offer superior service. Since ...
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Features
A minefield of diplomacy
Most industries are based upon relationships and the investment industry is no exception. But, unlike other industries, the investment community comes under close regulatory and media scrutiny for what are perceived as the inevitable conflicts of interest associated with a handful of investment banks dominating the industry. A number of ...
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Features
Chasing new rainbows?
In the last two years, investment banks have truly woken up to the fact that there is a vacuum in the investment product range offered to pension funds. Many houses have set up dedicated pensions groups, and all of them are vying for new business. Some are finding it harder ...
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Features
The new quasi-consultants
The specialist pensions groups at the investment banks have a lot to offer trustees. They can be a valuable source of expertise particularly when it comes to using complex financial instruments to solve the liability mismatches plaguing many funds. But just whose side are they on, and is their advice ...
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Features
Coming to terms with derivatives
Remember 1995? Only 10 years ago or so, most investment managers still felt pretty uncomfortable with derivatives. Derivative traders were an exotic species using Greek symbols and a jargon nobody could understand. No surprise, pension funds hardly used these instruments, or even avoided them in principle. What is a derivative? ...
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Features
Why pensions funds are on agenda
Over the last two years, the spotlight at investment banks has been directed towards pension funds. The banks have set up their own pensions groups to tackle the problems of liability mismatches and other risk issues. But if the banks serve corporate clients, how and why did they end up ...
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Features
A developing relationship
The degree of success of investment banks in the worlds of pension funds and insurance companies is difficult to ascertain. In part this is because investment bankers are happy to use the kind of spin that would make a politician blush. In part it is because trading is so sensitive ...
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Features
Pension funds still wary
On the surface of things, investment banks, particularly those with dedicated pension fund advisory groups, are making strong gains into the pension fund market. A report by Greenwich Associates, the US research consultancy, revealed that one third of UK pension funds are considering liability driven investments in their funding policies. ...
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Features
Risk manager or trusted adviser?
Across Europe, the pensions landscape is ostensibly one that conveys difficult and unwanted messages. Liabilities are typically large in comparison to the market capitalisation of sponsor companies. Schemes are generally poorly funded. From an adviser’s perspective, risks are also large due to the volatility arising from mis-matched asset mixes and ...
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Features
Optimising asset structures
Following the substantial growth of its asset base, in 2002 WPV hired an independent consultant to conduct an asset/liability study for the first time. As a result of this study, WPV set up a master fund with Deutsche Asset Management (DeAM) comprising one passive and two active mandates. The scheme ...
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Features
Web-based data service gives members the full picture
In 2004 and 2005, PKA members’ services were developed further by the introduction of a number of extra facilities on the website. The strategy for this development has been based on providing the right information at the relevant times, through the channel preferred by the individual member. Almost 20,000 members ...
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Features
Confidence and diversity builds portfolio that protects
Given its innovative and efficient approach to building its portfolios, it’s no wonder Inarcassa continues to be one of Italy’s leading pension funds and has won the IPE Award 2005 for portfolio construction. The objective behind the €3bn self-employed engineers’ and architects’ fund is generating maximum returns with minimum risk, ...
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Features
Quantitative route to effective decision-making
The BPI Valorizacão Pension Fund’s investment strategy has been heavily influenced by the new company chief investment officer’s hedge fund background. He wanted to implement a model that would allow the pension scheme to have more consistent numbers and minimise negative performance periods. He concluded that traditional emotion-driven quantitative decisions ...
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Features
Continuing reform focuses on governance and inclusion
The UK pensions industry needs Barclays. It is a market that is full of doom and gloom. It is only fitting then that Barclays should win the IPE European Country Silver Award 2005. For this is a sterling example of how to move forward. The dynamism, enthusiasm and sheer determination ...
