Latest from IPE Magazine – Page 623
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Features
Putting down roots in Milan
The impact the Deutsche GSS acquisition is having on State Street’s presence in Europe is no more clearly evidenced than in its new office in Milan. As bank chairman David Spina put it recently it is transforming the business on this side of the Atlantic. “The aim of the Deutchse ...
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Features
Built to fit
In the recent past, much has been written on the looming European pension crisis. In this article we will elaborate on the implications (both direct and indirect) of this crisis for the investment policy of corporate pension funds throughout Europe. A changing regulatory environment, is expected to have direct implications ...
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Features
Managing risks using swaps
The recent market environment has proved difficult for Europe’s second tier pension systems – following a bull run in bonds and a painful bear market in equities, funded pension systems have felt the strain over the last few years. The impact of this has varied by market and degree of ...
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Features
Explosive growth of credit products
There has been such rapid growth in the market of credit derivatives, it is surely an area that investors are looking at, if not already investing in. The market for these products began in earnest in the mid-1990s. Less than one decade later, it is expected to exceed $4trn (E6trn) ...
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Features
Handling the mismatches
Matching of assets to liabilities should be the pension fund’s prime concern. For deferred liabilities and pensioners the matching asset class is evidently bonds, but few schemes own bonds with a maturity profile that matches the probable outflows of cash. At the long end there are few bonds available in ...
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Features
The big handover
This month’s Off the Record considers the issue of outsourcing. The trend of pension funds to outsource the management of their assets to external managers is already well established. Less common is the decision to outsource their mid and back office functions. The reason why a medium small or medium ...
