All IPE articles in March 2016 (Magazine)
View all stories from this issue.
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Country Report
Age-Related Premiums: Solidarity 2.0
PNO Media, a provider for 450 media sector companies in the Netherlands, is striking a new path to retain pension market share in a competitive environment, according to Gail Moss
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Features
2015 Returns: Strong ATP performance bucks the downward trend in returns
Investment returns at many European pension funds came crashing down in 2015 compared with the previous year. Denmark’s ATP was the only exception, posting a 17.2% return.
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Features
ABP open season
Would you set up an ABP now if you were creating a public sector pension regime from scratch for the Netherlands? The simplicity of a single scheme and the economies of scale in investment and administration all call for it. But other factors speak against
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Country Report
Interview: Corien Wortmann-Kool - ABP
ABP chair Corien Wortmann-Kool tells Leen Preesman about the need for speedy change to a new pension system and of the need to restore the trust of the fund’s 2.8m members
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Special Report
Who’s afraid of life risk?
Investors in insurance-linked securities (ILS) generally underwrite non-life risk, but sometimes insurers are willing to offload life risk as well, finds Carlo Svaluto Moreolo. What can investors expect from entering the life-risk market?
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Features
IORP II inches ahead
The revised IORP Directive is one step closer to fruition, after MEPs agreed on a final draft of the law.
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Features
Ahead of the Curve: MiFID II starts to bite
Mark Croxon looks at the impact the new EU directive is likely to have on the workflow of investment firms
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Country Report
Asset Allocation: Seeking greater risk
Some Dutch pension funds are increasing their risk proile this year, according to Daniel Ben-Ami
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Features
Asset Allocation & Risk: The (im)patience of capital
Our two most valuable tools – our brains and time – should be harnessed to counter the potentially devastating consequences of our behavioural biases, says Bob Swarup
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Features
Asset Allocation: The big picture
While no experienced investor would presume plain sailing in markets, the nervous and chaotic start to this year has been pretty remarkable and difficult to navigate safely.
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Features
Focus Group: Different approaches to fees
Less than half of those polled for this month’s Focus Group (13 respondents, compared with 22 in the June 2014 survey) are in favour of asset management performance fees.
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Features
Stop monkeying around
Twenty years ago it made sense to use Chinese new year as a peg to discuss investing in China. A decade ago it had worn thin. To do it this year was a sign of hopeless naivety.
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Special Report
Private Placements & Speciality Lines: Sound private arrangements
Diversifying into aviation, marine and energy risks through private placements makes sense from a risk-and-return perspective, writes Anthony Harrington
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Interviews
On the Record: How do you optimise asset management costs?
Three pension funds - FONSEA, Pensions Caixa 30 and Sampension - discuss asset management costs
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Features
Asset Management Fees: What’s the going rate?
Despite calls for a greater level of alignment between asset managers and pension funds, alternative fee models have not yet taken off
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Features
ATP: New risk-factor construction makes investment portfolio more flexible
Denmark’s DKK705bn (€94bn) statutory pension fund ATP says its new risk-factor-based investment portfolio approach, unveiled in its 2015 annual report, increases its investment flexibility and provides it with a better understanding of risk.
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Opinion Pieces
Letter from the US: In search of balance
A woman leads one of the US pension funds most committed to long-terminism. She is Theresa J Whitmarsh, executive director of the Washington State Investment Board (WSIB), managing over $100bn (€89bn) of state pension, insurance, and other assets. She is also an advocate for a better gender balance in the financial industry, especially in the private equity sector.
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Country ReportPensions In Belgium: Limited by size constraints
Belgian pension funds are well funded, but their small size restricts their opportunities to diversify, according to Gail Moss
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Asset Class Reports
High-yield bonds: Beyond the benchmark
Investors will need to take into account shortcomings in high-yield benchmarks and the idiosyncratic nature of markets when selecting a strategy
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Features
Interview: Gabriel Bernardino, EIOPA
EIOPA chairman Gabriel Bernardino explains why the recent stress tests of European occupational pension funds were a valuable exercise
