Latest from IPE Magazine – Page 695
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Features
Living in extreme times
From possible rate hikes, to open discussions about the possibilities of rate cuts, it is little wonder that market volatility remains so painfully high. Whilst many fixed income managers are bemoaning the fact that their portfolios are not long enough against respective benchmarks, it could be worse: they could be ...
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Features
Demand for gilts looks secure
Like the rest of the world’s developed government bond markets, UK gilts have done pretty well out of the turmoil in stock markets. The yield curve has also steepened significantly, across the whole curve. The short end has benefited most as the market has re-assessed the outlook for short term ...
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Features
Ready for take-off
Flaws in the fabric of the Japanese economy still mar the outlook for equities in the country. But equity strategists are now cautiously optimistic about the prospects for share prices in Japan – at least in comparison to the outlook for equity markets in the US and Europe. Hopes are ...
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Features
More modest expectations
European investors have not had a very good experience investing in equities lately. One question is whether or not equities will deliver strong future returns relative to other asset classes. We have looked at this not in a tactical sense – what are returns likely to be over the next ...
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Features
Waiting for dust to settle
The July equity crash has disrupted relative asset valuations, but it will not be possible to measure them with any confidence on a prospective basis until markets stabilise somewhat and allow us to assess the impact on the whole economy and on specific industries. The pervasive crisis of confidence prompted ...
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Features
Under a cloud
One of the most developed markets in Europe, the Swiss pension fund industry is now entering a new phase of maturity. Disappointing investment returns and shrinking reserves are pushing institutional investors to rethink their strategies to find new investment solutions to face the future. Overall, investors are not satisfied with ...
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Features
Lowering the return hurdle
It has been one of the hot issues of the market and the government finally decided to do something about it. The minimum interest rate for occupational pensions in Switzerland of 4% has been seen as a huge legal constraint that was making asset manager and insurers’ lives very difficult ...
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Features
Still signs of life
The fund management industry in Switzerland continues to be one of the most dynamic markets in Europe, despite growth of assets slowing down. According to figures published by the Swiss Fund Association (SFA), the country’s fund market didn’t attract significant inflows during last year, even though the number of new ...
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Features
Parting of the ways
The City of Zurich Pension Fund certainly belongs to the city as a wide range of local bodies use it as their pensions provider. In addition to city employees, other employers’ staffs can join whose work is of ‘special interest’ for the city, such as housing associations, explains the fund’s ...
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Features
Foundations on a firmer footing
Sweden’s stiftelsen, the foundations that underpin much of the country’s university research, are at a crossroads. They were charged initially with protecting and, if possible, growing their capital. They have done this successfully, more successfully perhaps than anyone expected. This is reflected in the lengths of their lifetimes, which have ...
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Special Report
SRI comes naturally
Swedish foundations are charitable rather than commercial institutions, with a broader social responsibility than a pension fund. So it is perhaps not surprising that many have turned to socially responsible investment (SRI). Mistra, the foundation that supports Swedish environmental research, decided last year that between 10% and 20% of its ...
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Features
Hedge funds get guarded welcome
Hedge funds now represent a small but significant part of the portfolios of some of Sweden’s foundations. The Swedish Foundation for Strategic Reseach (SSF) took its first tentative steps into hedge funds last year. Bjorn Brandt, director of administration at SSF says: “To diversify foundation assets and obtain a performance ...
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Special Report
Good governance will pay back
PGGM is the Dutch pension fund for the healthcare and social welfare sector, responsible for the financial future of over 1m people and their family members. This is a major social responsibility, of which PGGM is very much aware. We reflect this responsibility by pursuing sustainable policies that are based ...
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Features
Ready for a revolution
Asset management is a relatively young industry, which has become increasingly popular over the past 20 years. Rising incomes and demographic changes in the developed economies has meant more opportunities and a greater need to save. Likewise, a greater need for professional management has emerged in the wake of the ...
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Features
Towards 'social Europe'
Bruno Gabellieri believes that many of the problems of compatibility of Europe’s social protection systems could be resolved, if not at a stroke, at least without the need for complex new legislation – specifically the proposed European pensions directive. The building blocks are already there, he says. They are the ...
