Latest from IPE Magazine – Page 638
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Features
State Street's confidence in new investor index
The State Street Investor Confidence Index is published at 10am Eastern Time in Boston on the second to last Tuesday of each month. Developed by State Street Associates, the bank’s academic partner, the index is “an unbiased quantitative measure of the investment behaviour of thousands of institutional investors”. The index ...
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Features
Separating out the alpha
Carnegie Asset Management in Copenhagen is focused on one thing and that is global stockpicking. “This probably accounts for 85% of the $4bn (E3.3bn) in assets we have under management,” says Morten Therkildsen, head of sales. About two thirds of assets come from institutional investors. The group, which has operations ...
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Features
UCITS III options for institutions
The arrival of UCITS III has provide some investment houses with the opportunity they have been looking for to package their funds for the European institutional market. Payden & Rygel Global, a UK based global fixed income specialist, has amalgamated its range of eight offshore bond funds into a single ...
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Features
Benchmarking - back to basics
The European pensions industry faces major challenges, some of which will likely lead to significant, if not dramatic, changes. At the broadest level there is growing awareness of the issues raised by long-term demographic trends, especially in those countries where reliance continues to be primarily on the state for retirement ...
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Features
Why ALM still has a role
In a market environment where the funding ratios of pension funds have suffered severely, asset liability management (ALM) is still a very helpful tool in understanding the various ways a pension fund might restructure its financial position and to repair its balance sheet. ALM is still particularly helpful and useful ...
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Features
TAA alpha there for the taking
Fixed asset weightings in a portfolio are not optimal when risk premiums and volatility vary over time. This renders tactical asset allocation (TAA) a useful supplement to strategic asset allocation. The institutional investor considering the investment process for TAA should consider the spillover effects to other parts of the investment ...
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Features
Whose hands on the tiller?
The importance of the asset allocation decision has been highlighted by the market volatility of recent years. This has encompassed phases when both equities and bond have moved in the same direction, albeit at different paces (mid to late 1990s) and the more recent past where performance has diverged radically. ...
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Features
Holy grail - or Pandora's box
Has tactical asset allocation (TAA) disappeared? TAA – taking advantage of short-term anomalies in the relative values of assets – has been significantly eroded in pension fund investment structures. Although it is still present within portfolios at a very modest level. In past times UK pension funds funds chose the ...
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Features
Restoring investor confidence
This month’s Off The Record focuses on financial scandals and asks whether the succession of Enron-type scandals over the past few years has damaged public confidence in the financial system. How serious is the damage, and how much trust has been lost? A recent Harris poll found that 90% of ...
