Markets
In-depth reporting on the subject of investment markets, including emerging markets and private markets, for our pension fund and asset management readers from IPE’s award-winning journalists
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NewsPrivate credit biggest threat, but auto-enrolment can ‘make Europe great again’
EIOPA conference: the biggest threats to financial stability are in record-high public debt and the rapid expansion of private credit sector
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NewsMajority of UK DC funds plan to access private markets through LTAFs
Research shows that 74% of respondents expect to increase private market allocations for growth-phase strategies
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NewsAll that glitters: Swiss pension funds raise gold exposure
Swiss pension funds boost gold allocations, seeking protection from geopolitical shocks, market volatility and fading trust in US assets
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NewsAustrian pension funds post solid 2025 returns ahead of upcoming reforms
However, average returns came in at 4.88%, down from 7.77% in 2024
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AnalysisDutch pension funds reduce dollar bond holdings
Civil service scheme ABP, the only Dutch pension fund with a sizeable exposure to US treasuries, reduced its allocation by €10bn in 2025
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AnalysisIPE DACH Briefing: German professional pension funds wrestle with losses
Plus: VdW Pensionsfonds struggles to appoint internal team; PKBS continues US equity strategy
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NewsMarket fragmentation exposes German pension funds to losses
German pension market fragmentation, weak oversight, and risky strategies leave funds exposed to huge investment losses
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NewsChair of £150bn asset owner campaign bemoans UK audit reform bill discard
Scrapping the bill is the wrong decision, according to Caroline Escott, chair of the pension fund-backed Governance for Growth Investor Campaign
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NewsTax incentives push Italian pension funds deeper into venture capital
Regulation on tax-deductible investments has accelerated Italian pension funds’ entry into venture capital
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AnalysisIPE Nordic Briefing: Greenland’s only pension fund sticks to strategy
Plus: Sweden’s AP1 and AP4 close down as the reform of the country’s five national pension buffer funds takes effect
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NewsBVK members line up lawsuit over failed US real estate investments
BVK has so far disclosed write-downs of €163m for 2024 and has warned of the risk of a further €690m in losses linked to development and renovation projects
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NewsDAX pension funding hits record 93% as liabilities shrink
Pension assets at DAX firms rose by €12bn, from €261bn to around €273bn year-on-year, despite a volatile year in financial markets
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NewsItalian pension funds warn portability reform will drive up costs
Andrea Mariani, director of Fondo Pegaso, the pension fund for utilities workers, also warns that portability undermines long-term investment
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NewsAcademic paper shows financial uplift from ESG in private equity portfolios
Research shows how the integration of ESG factors into investments can improve earnings quality, reduce operational risk and increase enterprise value
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AnalysisIPE UK Briefing: Government to widen fiduciary duty guidance for pension trustees
DWP’s consultation puts forward proposals to increase knowledge and understanding requirements for trustees, and to improve trust board diversity
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NewsUK engineering pension fund in £155m buy-in deal with PIC
The transaction covers the benefits of 1,581 scheme members
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NewsSwiss public pension funds weigh cross-canton expansion
Discussions are underway about widening membership beyond cantonal borders to include additional municipalities
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NewsAon: Dutch pensioners see 13.6% pension rise in new DC arrangement
The one-off increases are due to the conversion of defined benefit accruals to defined contribution capitals as of 1 January
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AnalysisMacro focus: debasement and fiscal dominance
The price of gold and other precious metals will continue to soar next year, as investors shift focus away from currencies
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NewsGerman plan sponsors opt for staged pension de-risking
Liquidity pressures push German plan sponsors towards staged and hybrid pension de-risking strategies despite economic stagnation
