Strategy
Get the latest news on pension fund and investor strategies, plus in-depth analysis of industry successes and tactical U-turns
Latest news
PensionDanmark invests in quantum computing startup Atom
Labour-market pension fund backs Atom Computing with DKK70m after California-based tech firm pledges to set up European HQ in Denmark
Mandate roundup: Compenswiss tenders direct lending mandates
Plus: APK issues $300m EM debt brief; Italian journalists scheme award €100m corporate bond mandate
ATP’s Northvolt exposure highlights problem of illiquids in geared portfolio
Copenhagen professor argues the challenge of a single-company illiquid investment becoming too dominant is much larger in highly-leveraged portfolio, like ATP’s
Carmignac launches private markets strategy
Carmignac Private Evergreen marks the firm’s entry into managing private assets
Top 1000 Pension Funds 2024: Pensions back at a sweet spot
Assets for the leading 1000 European pension funds grew by 8.7% year-on-year, reversing last year’s loss of 6.8%. This brings total assets back up to above their previous high water mark of €9.7trn in 2022’s research exercise. This year’s overall net gain in assets of €775bn is the largest since 2021’s increase of €810bn.
Top 1000 Pension Funds 2024: Data
Skewed distribution of European pension fund assets
Top 10 European pension funds raise equity and bond exposure
Pension funds in most European countries recorded strong returns of between 6% and 9%, according to preliminary figures published this summer by the OECD.
KPN Pensioenfonds: Active investors by conviction
Caspar Vlaar and Jaap van Dam of KPN Pensioenfonds talk to Tjibbe Hoekstra about the Dutch fund’s belief in active investing, its venture into private markets and its impact strategy
Pension funds on euro fixed income: navigating the rate cycle
We asked pension funds in Spain, Germany and Finland about their current views on European fixed income and credit as the ECB looks carefully at the timing and sequence of its rate cuts
Mansion House Compact: spotlight on Scottish Widows
Scottish Widows joined the Mansion House Compact in July 2023 as one of the founding signatories committing to allocating at least 5% of its default funds to unlisted equities by 2030
Mansion House Compact: spotlight on M&G
M&G joined the Mansion House Compact in July 2023 as one of the founding signatories committing to allocating at least 5% of its default funds to unlisted equities by 2030
Mansion House Compact: spotlight on Aon
Jo Sharples, CIO for Aon’s DC solutions, spoke to IPE about Aon signing up to the compact and how it plans on embarking on a private markets journey
Mansion House Compact: spotlight on Phoenix
Sam Tufts, head of strategy and solutions in asset management team at Phoenix, spoke to IPE about the group’s plan to extend its private markets experience for DC
US pension plans wrestle with China private market exposure
After a horrible 2023, Chinese stocks look cheap and attractive. But most US pension funds do not seem interested in investing in the Chinese stock market. On the contrary, they have reduced their holdings since 2020 and some are exiting entirely, according to Bloomberg analysis.
Swedish funds agency opens for domestic equities bids in biggest tender yet
Platform reformer FTN invites tenders for more than SEK155bn (€13.6bn) of investment management; aims to halve the number of funds currently on offer
AllianzGI’s impact private credit strategy reaches €560m at first close
Investors include Allianz, APG Asset Management, the European Investment Fund (EIF), and La France Mutualiste
AXA IM Alts snaps up European private assets firm CAPZA
Acquisition sees AXA IM Alts enter traditional private equity sector and expand its global debt platform into mid-market direct lending
Active equity investors keep their eye on the prize
As equity markets enter a new phase after the August 2024 sell-off, institutions are sticking to their long-term active equity approaches
KPN Pensioenfonds: Active investors by conviction
Caspar Vlaar and Jaap van Dam of KPN Pensioenfonds talk to Tjibbe Hoekstra about the Dutch fund’s belief in active investing, its venture into private markets and its impact strategy
Swedish funds agency opens for domestic equities bids in biggest tender yet
Platform reformer FTN invites tenders for more than SEK155bn (€13.6bn) of investment management; aims to halve the number of funds currently on offer
Active equity investors keep their eye on the prize
As equity markets enter a new phase after the August 2024 sell-off, institutions are sticking to their long-term active equity approaches
Robeco launches three forward-looking climate indices
Asset manager aims to respond to investor appetite for ‘increasingly seeking sophisticated climate indices’
CFA Institute’s new framework brings clarity to index products
The institute also set out a number of recommendations for investment firms
Swiss occupational scheme tenders up to CHF1.2bn in bond mandates
The searches are for emerging market debt and US high yield bonds, considering both active and passive options
Active equity investors keep their eye on the prize
As equity markets enter a new phase after the August 2024 sell-off, institutions are sticking to their long-term active equity approaches
LD picks BankInvest for listed alternatives, citing quant, factor-based approach
Danish pension fund manager “pleasantly surprised” by volume of extremely high quality offers received
European investors remain sceptical on artificial intelligence impact, Invesco finds
A majority of North American and Asian investors believe, however, that traditional methods for investment analysis will be overshadowed by AI applications
Ireland’s Pensions Authority launches trustee guidance on liquidity risk
The Authority’s guide highlights LDI, leveraged LDI, sale and repurchase agreements, swaps, currency hedging and inflation hedging as strategies to look out for
CBI, CSSF finalise yield buffer rules for sterling LDI funds
Measures complement guidance issued by UK regulators in wake of UK LDI crisis
Mercer’s upbeat vision for UK pension funds and their investment advisers
James Lewis, UK CIO at Mercer, is optimistic about the future of the UK’s DB and DC industries
Case study: Caja de Ingenieros Gestion - The rise of smart beta
The Spanish pension provider Caja de Ingenieros Gestion serves more than 215,000 members, predominantly from the Spanish engineering sector, using an investment style based on independent analysis, with a bottom-up approach.
Smart beta pioneer reignites debate on factor timing
Research Affiliates founder Rob Arnott finds ‘most factors look very cheap’ in a new paper highlighting the attractiveness of many equity factor strategies
Viewpoint: Alternative risk premia strategies stand tall amid turmoil
While bond and equity markets have been pummeled in 2022, Alternative Risk Premia strategies have at last been able to demonstrate their diversification prowess. Will this year’s performance restore investor confidence in these strategies after the painful results of 2020?
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