Latest from IPE Magazine – Page 701
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Features
Titan annual changes
Dow Jones Indexes said it made changes to three of its Titans indices, as a result of the regular annual review. Five component stocks are being changed in the Dow Jones Global Titans 50 index – Chevron Texaco, Royal Bank of Scotland Group, PepsiCo, Barclays and AstraZeneca will be added ...
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Features
Challenge for active managers
Enhanced indexing is a quantitatively structured alternative to active management. Unlike indexing that seeks to replicate the returns of a market index, enhanced indexing seeks to exceed index performance, generally within some pre-specified risk parameters. Enhancements are generally achieved in two ways: q by the use of index futures in ...
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Features
The index is not enough
When markets were soaring and active managers were struggling, indexation was flavour of the month. Now, with markets in the doldrums, the product getting all the attention is enhanced indexation. As ever, the two drivers for the change in fashion are our old friends risk and return. Risk, not only ...
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Features
Giving mobile workers pension wheels
Promoting labour mobility within Europe is one of the central aims of the EU. Yet one large obstacle to this is the portability of supplementary pension rights. A European Commission directive, adopted in 1998, was intended to give supplementary pension rights the same sort of protection as basic pension rights. ...
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Features
A fund is born
When Irish finance minister Charlie McCreevy announced on 23 July 1999 that the Irish government had approved a new strategy to maintain the exchequer’s ability to finance future pension provision in Ireland through the creation of a giant reserve fund, the impact of his statement was by no means confined ...
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Features
Lessons in how not to do it
One of the most interesting reports to emerge in Ireland following on from the reserve fund announcement by the government appeared in December 2000. Commissioned by the Irish Association of Pension Funds (IAPF), the report by consultancy Shane F Whelan & Co focused on the possible investment strategies that the ...
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Features
Fund gets budgetary green light from EU
For the Irish government, the introduction of such a significant reserve fund into the country’s balance sheet posed not only the question of domestic support, but also that of adherence to the EU Growth and Stability Pact – the 1997 requirement that all member states bring their budgets into balance ...
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Features
Laying down a legacy
For Irish finance minister Charlie McCreevy, interest in the concept of an Irish reserve fund for pensions came some time before his arrival on the Irish political scene. “My own interest stems from two factors. Firstly, for many years, I would read what the occasional commentators wrote about the so-called ...
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Features
Commission of seven prudent persons
For his vision of the state pension fund to become reality, it was essential for Irish finance minister Charlie McCreevy to find the right structure to implement and manage such an important pool of assets. The arrangements for the governance and management of the fund were modelled on the successful ...
