Latest Special Reports – Page 83
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Special Report
Investing for Income: The other vampire squids
Are yield-hungry institutions and the circling sharks of the activist world sucking corporations dry? Martin Steward asks investors how they see their responsibilities
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Special Report
Investing for Income: Executive pay, shareholders and the economy
Skewed management incentives have encouraged companies to give lots of cash back to their shareholders, writes Andrew Smithers. But this will be damaging to the economy and to long-term investors
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Investing for Income: Buy, buy love?
Companies can return cash to shareholders via dividends or the more contentious share buybacks. Jennifer Bollen asks who are the real beneficiaries of a buyback programme
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Investing for Income: Good value, high quality
Charlotte Moore explores the factor risks inherent in various strategies designed to generate equity income
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Special ReportSmart beta: A genuine revolution
Remember 130/30 funds? Most investment journalists do, because they delivered one of those periodic lessons in a major peril of their profession – getting caught up with next hot product
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Smart beta: Blurring the lines
The smart-beta or factor revolution is breaking down the boundaries between active and passive management. But Brendan Maton finds this introducing as many new questions as solutions
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Smart beta: A match made in smart-beta heaven?
Combining fundamental indexation and minimum variance appears to smooth out the bumpy ride usually associated with harvesting the value-risk premium, finds Charlotte Moore
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Smart beta: Collecting the premiums
Martin Steward spoke to Denmark’s PKA about its pioneering approach to extracting risk and return from equity markets – and beyond
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Smart beta: Smart beta's Tower of Babel
Smart beta systematically introduces different risks than those contained in the market portfolio – and yet mandates are still generally benchmarked against the market. Brendan Maton writes about the urgent need for more suitable measures of risk and return
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Smart beta: A question of governance
Andrew Ang and Alfred Slager shared the stage at a recent seminar. Martin Steward reports on how the debate has moved from the ‘if’ questions to the ‘how’
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Special Report
Smart beta: Every drop of return
Martin Stewardspoke to the Environment Agency Pension Fund, 2013 IPE Award winner for smart beta, about its adoption of diversity weighting, fundamental indexation and low-volatility strategies
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Special ReportThe smart beta family tree
The range of new forms of ‘beta’ can leave investors bewildered. Martin Steward’s illustrative taxonomy offers a flavour of how these solutions might be categorised and how they relate to one another, and lists the key research papers that first described each methodology.
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Special Report
Europe’s Pension Consultants: Are fees wasted?
After a recent academic paper raised serious questions about consultants’ competence in manager selection, Gail Moss talks to the industry about the nuances of the research and the defence of their practices
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Special Report
Europe’s Pension Consultants: Talking heads
IPE put some questions to pension consultants and fiduciary managers, here is a selection of their views
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Europe’s Pension Consultants: Shifting plates
Liam Kennedy questions Chris Ford about ideas, advice and implementation in a changing consulting industry
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Special Report
Smart beta: Smart investing or smart trading?
There are limited ways to explain the excess returns that smart beta generates over the market portfolio. Martin Steward uncovers a world of contention over which are the most important
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Smart beta: The battle for the middle
Smart beta has succeeded because it can help solve not one but two important problems, writes Emma Cusworth. But investors need to be clear about which problem they are solving
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Special Report
Smart beta: Lend to those that don't need it
Mike Story offers the case for taking the smart beta concept into the world of bonds
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Special Report
Smart beta: Neither 'smart' nor 'beta'
John Velis offers the case against taking the smart beta concept into the world of bonds
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Special Report
Smart beta: The nirvana of equity investing?
Low turnover, low fees, repeatable and testable rules and an avoidance of concentration in the biggest stocks make the smart beta idea compelling, concedes Matthew Beddall. But none of that can make a great-looking backtest into reality
