All articles by Liam Kennedy – Page 8

  • Special Report

    Pension Fund Governance: In the eye of the beholder

    July / August 2015 (Magazine)

    Good governance is perhaps easier to identify from a distance than it is to put in place. By the very nature of decisions, its benefits for pension funds are easier to assess with the benefit of hindsight

  • Texas oil drilling platform
    News

    PFZW demands ‘change in mentality’ over carbon emissions approach

    2015-06-02T14:48:00Z

    Pension fund says its 2020 target to halve carbon emmisions should help create a more sustainable world

  • Features

    QE: Uncertainty is Queen

    June 2015 (Magazine)

    It is unsurprising that Dutch pension funds sought to voice their concerns about the effect of QE on their sector before that decision was ratified

  • Special Report

    What is risk parity?

    June 2015 (Magazine)

    A ll theory is grey, dear friend /And green the golden tree of life.  The words of Mephistopheles in the first volume of Goethe’s Faust distinguish academia from the attractions and contradictions of the real world

  • PFZW
    Features

    How we run our money: PFZW

    June 2015 (Magazine)

    PFZW’s decision to divest from hedge funds was just one element of a comprehensive investment overhaul. Peter Borgdorff and Jan Willem van Oostveen talk about their fund’s renewed strategy

  • Top 400 2015 logo
    Special Report

    Top 400 Asset Managers 2015: Global assets top €50trn

    June 2015 (Magazine)

    Once again, IPE surveyed over 400 managers for this year’s study, canvassing end-2014 data in most cases. The results give a broad overview of the global asset management sector, with granular depth on European managers and institutional business

  • Stock market index graphs
    News

    Fixed income holdings at Dutch pension fund PFZW return 43%

    2015-05-14T11:45:00Z

    Healthcare scheme reports annual result of 15.5%

  • Special report - The Technology Sector
    Special Report

    The Technology Sector: Potential in the exponential

    May 2015 (Magazine)

    The cost of computer processing power has decreased exponentially over recent decades, a trend we are all familiar with when we compare the clunky IBM PCs of the 1980s or 90s with today’s smartphones

  • Features

    Hard to explain

    May 2015 (Magazine)

    The European Central Bank’s QE programme is taking its toll on pension funds as healthy returns are unable to keep pace with liabilities

  • Special Report

    Credit: A change in dynamics

    May 2015 (Magazine)

    Remember covenant-lite loans? By 2009, risk-averse investors exercised huge influence over issuers and were able to obtain high levels of protection in the high-yield market

  • Features

    Success (and failure) factors

    April 2015 (Magazine)

    Most of the success or failure of a pension system can be attributed to design and input factors

  • Features

    Asset allocation: Where next?

    March 2015 (Magazine)

    Against the current economic backdrop, trustees and investment committees are unsure which sources of return they should allocate capital to, Liam Kennedy writes

  • Features

    Juncker needs you!

    February 2015 (Magazine)

    Pension funds, take note. Jean-Claude Juncker, European Commission president, wants your money to invest in a laundry list of up to 2,000 projects.

  • Special Report

    Special Report ESG: Carbon Risk, A low-risk path to carbon reduction

    February 2015 (Magazine)

    The low-carbon index approach adopted by AP4, FRR and ERAFP aims to mitigate climate change (and career) risk, writes Liam Kennedy

  • Special Report

    Special Report ESG: Carbon Risk, How the low-tracking-error green index strategy works

    February 2015 (Magazine)

    As pioneered by the Swedish pension buffer fund AP4, low-tracking-error green indices work on a remarkably simple principle: weighting the stocks in each sector by carbon intensity (CO2 per unit of sales) and removing the most carbon-intense companies and exposure to stranded asset risk in intensity based on market cap.

  • Country Report

    When the trend is not your friend

    January 2015 (Magazine)

    The convergence between asset management and consultancy was a topic for discussion at a conference on fiduciary management organised by the German Federation of Financial Analysts and Asset Management (DVFA) in Frankfurt last November. 

  • Features

    Frozen conflict

    January 2015 (Magazine)

    Since a 1964 report on road pricing in the UK, authored by one RJ Smeed, the idea of charging citizens for use of public highways has been repeatedly raised in Britain. 

  • Features

    Vive la répartition

    December 2014 (Magazine)

    While she might have abolished peculiarities such as yellow car headlights and the old-style caps of the gendarmerie, France’s pension system, based on répartition (redistribution), remains as distinct as ever.

  • Features

    A-shares on the rise

    November 2014 (Magazine)

    T here are signs that European institutional investors find Chinese equities interesting. Finland’s Ilmarinen now separates China equity holdings (A and H-shares), in its reports, and Denmark’s AP Pension has boosted its China equity exposure to 5%, although it has excluded domestic property and banks.

  • Features

    The ‘what’ and ‘why’ of costs

    October 2014 (Magazine)

    Controversies around pension funds’ asset management costs in various countries tell us something about the mood of the times, but they also suggest that changes are needed in the way pension boards select and justify their strategy choices to members and the wider world.