All IPE articles in March 2015 (Magazine)
View all stories from this issue.
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Features
IPE-Fundo: UK Pension Indices
The new IPE-Fundo UK pension index series gives trustees and pension funds a reliable, transparent and free composite benchmark against which to assess the performance of their scheme
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FeaturesHow we run our money: Publica
Carlo Svaluto Moreolo talks to Publica’s deputy CIO Patrick Uelfeti about the fund’s approach to asset management
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Features
Research - Pension Funds: The progression of smart risking
In this final article on a new survey, Pierre Cailleteau and Amin Rajan conclude that improved risk management is the most enduring legacy of the global financial crisis
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Opinion Pieces
Letter from the US: Funding under pressure
Wall Street posted record highs in 2014 but this was not enough to compensate for other negative factors affecting US corporate pension plans. Their funding status dropped from 89% at the end of 2013 to 80% by the end of 2014, according to Towers Watson, and the pension deficit increased to $343bn (€303bn), doubling that of 2013. Overall pension plan funding fell by $181bn.
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Features
Frontier Markets: Surprisingly mature
While frontier markets are now the same size as emerging markets in 1995, in other respects they look like emerging markets circa 2005. Asha Mehta warns investors not to miss out on further turbo-charged convergence
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Features
OECD research: A focus on long-term opportunities
The OECD’s recent survey of large pension funds shows that despite increased interest in alternative investments, there has been less traction in areas like direct infrastructure.
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Special ReportFocus Group: Pension funds get smart
The days of smart beta being all talk and no action in the pensions world are long gone
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Asset Class Reports
European equities: The stock-pickers return
How can European equity portfolio managers find genuinely idiosyncratic stock risk amid the current top-down noise?
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Asset Class Reports
European equities: Recovery or retrenchment?
Martin Steward finds European equity managers disagreeing on how to position for the business cycle
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Features
The ‘Japanisation’ of the economy
Martial Godet and Ankit Gheedia warn that their indicators show the rest of the world sliding into ‘Japanisation’ – just as Japan is escaping it
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Country Report
PFPP survey: Dutch pension funds' high expectations
Dutch pension funds are more critical of their asset managers than their European peers, according to a major research programme. James Tew assesses the results.
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Special ReportInterview: James d'Ath, Indexx Markets
Indexx Markets’ James d’Ath talks about whether ‘smart alpha’ could strip out unwanted fund costs to deliver purified active management
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Interviews
On the record: What is your currency risk hedging strategy?
As investors worry over the fate of Europe’s economy and the effectiveness of the ECB’s quantitative easing programme, three European funds - PKA, PME and Pensionkasse SBB - share their views on currency risk management
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Special Report
Room for smaller players in UK's 'oligopolistic' pension consulting market
Martin Steward finds that the age of true dominance of the UK’s ‘big three’ consultants may have passed, creating opportunity for smaller providers
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Special Report
Consultants: Talking heads
IPE asks pension consultants and fiduciary managers for their thoughts on regulation of investment advice for institutions
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Features
In search of a square circle
The Dutch are undertaking a major overhaul of their pensions system. ‘Again?’ you might ask. After all, the Dutch have been tinkering with their system for years, drafting and rejecting one daring redesign after another, while engaging in bickering over the best way to modernise and ‘future-proof’ their slightly outdated, second pillar.
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Asset Class Reports
Cheap oil and weak euro: Impact on European equities
Joseph Mariathasan considers the likely effects of dramatically cheaper oil and a weak euro on European earnings and equity market prices
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Features
Regulation roundup: Europe’s changing pensions
Overview of main regulatory and legislative developments affecting workplace pensions across Europe
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Features
Private equity fund performance: Cash today or growth tomorrow?
Pierre Garnier assesses if and when an investor should seek to sell a private equity fund interest
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Interviews
Strategically speaking: Candriam
“It was difficult to find a name,” recalls Candriam CEO Naim Abou-Jaoudé, a year after Dexia Asset Management needed a rebrand for its acquisition by New York Life Investments. “All the good names are taken!”
